Zacks Investment Research Downgrades Xcerra Corp. (XCRA) to Sell
Xcerra Corp. (NASDAQ:XCRA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.
According to Zacks, “Xcerra Corporation engages in designing, manufacturing, and marketing automatic test equipment for the semiconductor industry. Its product portfolio includes Diamond platform; X-Series platform; and ASL platform. The Company also offers various services, such as installation and maintenance of test systems, servicing of spare parts, parts and labor warranties on test systems and instruments, and training on the maintenance and operation of test systems. Xcerra Corporation, formerly known as LTX-Credence Corporation, is headquartered in Norwood, Massachusetts. “
A number of other analysts have also recently commented on the stock. DA Davidson restated a “buy” rating and set a $10.00 price target on shares of Xcerra Corp. in a research note on Monday, August 29th. B. Riley restated a “buy” rating and set a $7.75 price target on shares of Xcerra Corp. in a research note on Monday, September 5th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $8.06.
Shares of Xcerra Corp. (NASDAQ:XCRA) opened at 5.81 on Wednesday. The firm’s 50 day moving average is $5.83 and its 200-day moving average is $6.01. Xcerra Corp. has a 1-year low of $4.93 and a 1-year high of $7.60. The company has a market cap of $313.63 million, a PE ratio of 27.93 and a beta of 1.40.
Xcerra Corp. (NASDAQ:XCRA) last announced its quarterly earnings results on Thursday, September 1st. The company reported $0.12 EPS for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.04. The company had revenue of $91.23 million for the quarter, compared to analysts’ expectations of $91.76 million. Xcerra Corp. had a net margin of 4.03% and a return on equity of 0.96%. Xcerra Corp.’s revenue was down 10.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.16 EPS. Equities analysts expect that Xcerra Corp. will post $0.18 earnings per share for the current year.
A number of hedge funds have recently bought and sold shares of the company. KCG Holdings Inc. purchased a new stake in Xcerra Corp. during the second quarter valued at about $112,000. Genesee Valley Trust Co. boosted its stake in Xcerra Corp. by 8.3% in the second quarter. Genesee Valley Trust Co. now owns 19,590 shares of the company’s stock valued at $113,000 after buying an additional 1,500 shares in the last quarter. OMERS ADMINISTRATION Corp purchased a new stake in Xcerra Corp. during the first quarter valued at about $140,000. BlackRock Group LTD boosted its stake in Xcerra Corp. by 60.5% in the second quarter. BlackRock Group LTD now owns 23,709 shares of the company’s stock valued at $136,000 after buying an additional 8,941 shares in the last quarter. Finally, Citadel Advisors LLC purchased a new stake in Xcerra Corp. during the second quarter valued at about $138,000. Institutional investors and hedge funds own 86.76% of the company’s stock.
Xcerra Corp. Company Profile
Xcerra Corporation, formerly LTX-Credence Corporation, is engaged in providing test and handling capital equipment, interface products, test fixtures and related services to the semiconductor and electronics manufacturing industries. The Company operates through six segments: Semiconductor Test, Semiconductor Handlers, Contactors, Printed Circuit Board (PCB) Test, Probes/Pins and Fixtures.
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