LSI Corp. Reaches New 12-Month High at $8.04 (LSI)
LSI Corp. (NYSE:LSI)’s share price reached a new 52-week high during mid-day trading on Wednesday, Stock Ratings Network reports. The stock traded as high as $8.04 and last traded at $8.00, with a volume of 3,699,320 shares traded. The stock had previously closed at $8.00.
A number of analysts have recently weighed in on LSI shares. Analysts at Zacks upgraded shares of LSI Corp. (NYSE:LSI) from a “neutral” rating to an “outperform” rating in a research note to investors on Wednesday, August 14th. They now have a $9.25 price target on the stock. Separately, analysts at Topeka Capital Markets raised their price target on shares of LSI Corp. (NYSE:LSI) from $8.00 to $9.00 in a research note to investors on Thursday, July 25th. They now have a “buy” rating on the stock. Finally, analysts at Maxim Group raised their price target on shares of LSI Corp. (NYSE:LSI) from $8.50 to $9.00 in a research note to investors on Thursday, July 25th. They now have a “buy” rating on the stock.
Five investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. LSI Corp. presently has a consensus rating of “Buy” and a consensus target price of $8.39.
LSI Corp. has a 52-week low of $5.99 and a 52-week high of $8.04. The stock has a 50-day moving average of $7.6 and a 200-day moving average of $7.11. The company has a market cap of $4.371 billion and a P/E ratio of 42.33.
LSI Corp. (NYSE:LSI) last posted its quarterly earnings results on Wednesday, July 24th. The company reported $0.15 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.13 by $0.02. The company had revenue of $590.00 million for the quarter, compared to the consensus estimate of $580.71 million. During the same quarter in the prior year, the company posted $0.21 earnings per share. The company’s quarterly revenue was down 10.5% on a year-over-year basis. Analysts expect that LSI Corp. will post $0.65 EPS for the current fiscal year.
LSI Corporation (NYSE:LSI) designs, develops and markets high-performance storage and networking semiconductors.
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