Allied Motion Technologies Inc. (AMOT) Shares Up 6.1%
Allied Motion Technologies Inc. (NASDAQ:AMOT) shares shot up 6.1% during mid-day trading on Tuesday . The company traded as high as $23.26 and last traded at $22.18, with a volume of 108,026 shares changing hands. The stock had previously closed at $20.91.
A number of research firms recently issued reports on AMOT. Dougherty & Co began coverage on shares of Allied Motion Technologies in a research report on Friday, July 1st. They set a “neutral” rating for the company. Craig Hallum boosted their target price on shares of Allied Motion Technologies from $30.00 to $33.00 and gave the company a “buy” rating in a research report on Friday, May 6th. TheStreet upgraded shares of Allied Motion Technologies from a “hold” rating to a “buy” rating in a research report on Wednesday, July 27th. Finally, Zacks Investment Research upgraded shares of Allied Motion Technologies from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a research report on Tuesday, June 21st.
The firm’s 50-day moving average price is $22.03 and its 200-day moving average price is $20.81. The stock has a market capitalization of $208.31 million and a P/E ratio of 20.53.
Allied Motion Technologies (NASDAQ:AMOT) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.31 EPS for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.01. The firm earned $65.80 million during the quarter, compared to analysts’ expectations of $60.50 million. Equities analysts expect that Allied Motion Technologies Inc. will post $1.14 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 31st. Shareholders of record on Thursday, August 18th will be given a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date is Tuesday, August 16th.
In other Allied Motion Technologies news, Director Richard D. /Co/ Smith sold 10,000 shares of the stock in a transaction that occurred on Tuesday, July 5th. The shares were sold at an average price of $21.91, for a total value of $219,100.00. Following the sale, the director now directly owns 37,404 shares of the company’s stock, valued at approximately $819,521.64. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.
Allied Motion Technologies Inc designs, manufactures and sells precision and specialty motion control components and systems used in a range of industries. The Company serves various markets, including vehicle, medical, aerospace and defense, electronics and industrial. It focuses on motion control applications.
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