Hutchinson Technology Incorporated (HTCH) Posts Quarterly Earnings, Misses Estimates By $0.16 EPS
Hutchinson Technology Incorporated (NASDAQ:HTCH) posted its quarterly earnings results on Thursday. The company reported ($0.40) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.24) by $0.16, American Banking and Market News reports. The company had revenue of $63.65 million for the quarter, compared to the consensus estimate of $64.60 million. During the same quarter in the prior year, the company posted ($0.54) earnings per share. The company’s quarterly revenue was up .1% on a year-over-year basis.
On the ratings front, analysts at Thomson Reuters/Verus upgraded shares of Hutchinson Technology Incorporated from a “hold” rating to a “buy” rating in a research note to investors on Monday, September 23rd. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $5.00.
Shares of Hutchinson Technology Incorporated (NASDAQ:HTCH) traded down 2.62% on Thursday, hitting $3.72. 277,185 shares of the company’s stock traded hands. Hutchinson Technology Incorporated has a 1-year low of $1.35 and a 1-year high of $6.69. The stock has a 50-day moving average of $3.71 and a 200-day moving average of $4.1. The company’s market cap is $102.5 million.
Hutchinson Technology Incorporated (NASDAQ:HTCH) is a global technology company engaged in developing solutions to customer problems.
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