EZchip Price Target Lowered to $29.00 at Maxim Group (EZCH)
Stock analysts at Maxim Group decreased their price objective on shares of EZchip (NASDAQ:EZCH) from $38.00 to $29.00 in a report issued on Monday, Stock Ratings Network.com reports. The firm currently has a “buy” rating on the stock. Maxim Group’s price target would suggest a potential upside of 22.88% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at Oppenheimer downgraded shares of EZchip (NASDAQ:EZCH) from an “outperform” rating to a “market perform” rating in a research note to investors on Monday. Separately, analysts at Chardan Capital reiterated a “sell” rating on shares of EZchip (NASDAQ:EZCH) in a research note to investors on Friday. They now have a $32.00 price target on the stock. Finally, analysts at Benchmark Co. reiterated a “buy” rating on shares of EZchip (NASDAQ:EZCH) in a research note to investors on Thursday.
One investment analyst has rated the stock with a sell rating, five have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $34.00.
Shares of EZchip (NASDAQ:EZCH) opened at 23.60 on Monday. EZchip has a one year low of $21.25 and a one year high of $38.91. The stock’s 50-day moving average is $29.69 and its 200-day moving average is $26.50. The company has a market cap of $674.3 million and a price-to-earnings ratio of 50.11.
EZchip (NASDAQ:EZCH) last announced its earnings results on Wednesday, August 7th. The company reported $0.29 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.27 by $0.02. The company had revenue of $16.70 million for the quarter, compared to the consensus estimate of $16.57 million. During the same quarter in the prior year, the company posted $0.29 earnings per share. The company’s quarterly revenue was up 5.7% on a year-over-year basis. On average, analysts predict that EZchip will post $1.17 earnings per share for the current fiscal year.
EZchip Semiconductor Ltd. is the holding company of EZchip Technologies Ltd. (NASDAQ:EZCH).
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