FEI Receives Buy Rating from DA Davidson (FEIC)
FEI (NASDAQ:FEIC)‘s stock had its “buy” rating reaffirmed by stock analysts at DA Davidson in a report issued on Friday, Analyst Ratings.Net reports. They currently have a $100.00 target price on the stock, up from their previous target price of $84.00. DA Davidson’s target price indicates a potential upside of 18.06% from the stock’s previous close.
The analysts wrote, “We believe business trends in 3Q are tracking in line with expectations and continue to model a recovery in 4Q. Last month, FEI released three new transmission electron microscopes for applications across the Electronics, Materials Science and Life Sciences end markets. Based on FEI’s technology leadership position combined with the current installed base, we expect orders for these tools across both existing and new customers to accelerate in 2H and should meaningfully contribute to 2014 revenue. Additionally, these tools should garner a more favorable margin profile. Thanks to the projected buildout of 14nm capacity by Intel (INTC* – $22.63), FEI’s largest customer, combined with continued high levels of investment from the leading foundries and increased memory spending, we foresee a healthy environment for ramping semiconductor capital spending over the next several quarters, benefiting FEI’s high margin Electronics segment.”
Shares of FEI (NASDAQ:FEIC) traded up 0.20% during mid-day trading on Friday, hitting $84.87. The stock had a trading volume of 62,752 shares. FEI has a 52 week low of $49.40 and a 52 week high of $85.21. The stock has a 50-day moving average of $78.65 and a 200-day moving average of $71.22. The company has a market cap of $3.543 billion and a price-to-earnings ratio of 30.33.
FEI (NASDAQ:FEIC) last announced its earnings results on Thursday, August 1st. The company reported $0.72 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.67 by $0.05. The company had revenue of $222.48 million for the quarter, compared to the consensus estimate of $227.40 million. During the same quarter last year, the company posted $0.74 earnings per share. FEI’s revenue was up .5% compared to the same quarter last year. On average, analysts predict that FEI will post $2.96 earnings per share for the current fiscal year.
FEIC has been the subject of a number of other recent research reports. Analysts at Needham & Company raised their price target on shares of FEI (NASDAQ:FEIC) from $70.00 to $80.00 in a research note to investors on Friday, August 2nd. They now have a “buy” rating on the stock. Separately, analysts at Stifel Nicolaus raised their price target on shares of FEI (NASDAQ:FEIC) from $81.00 to $83.00 in a research note to investors on Friday, August 2nd. They now have a “buy” rating on the stock. Finally, analysts at Pacific Crest downgraded shares of FEI (NASDAQ:FEIC) from an “outperform” rating to a “sector perform” rating in a research note to investors on Friday, August 2nd. They noted that the move was a valuation call.
Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $72.83.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, October 22nd. Shareholders of record on Wednesday, October 9th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.57%.
FEI Company is a supplier of scientific instruments for nanoscale applications and solutions for industry and science.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.