JDS Uniphase Corp. Price Target Lowered to $16.00 at Needham & Company (JDSU)
Needham & Company lowered their price target on shares of JDS Uniphase Corp. (NASDAQ:JDSU) from $18.00 to $16.00 in a research note issued on Thursday, Analyst Ratings Net reports. The firm currently has a “buy” rating on the stock. Needham & Company’s target price suggests a potential upside of 22.23% from the stock’s previous close.
In other JDS Uniphase Corp. news, EVP Alan S. Lowe sold 49,459 shares of the stock on the open market in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $16.49, for a total value of $815,578.91. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
JDS Uniphase Corp. (NASDAQ:JDSU) traded down 11.25% during mid-day trading on Thursday, hitting $13.09. 18,887,220 shares of the company’s stock traded hands. JDS Uniphase Corp. has a 52-week low of $9.72 and a 52-week high of $15.63. The stock’s 50-day moving average is $15.02 and its 200-day moving average is $14.23. The company has a market cap of $3.109 billion and a P/E ratio of 61.46.
JDS Uniphase Corp. (NASDAQ:JDSU) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.01. The company had revenue of $429.00 million for the quarter, compared to the consensus estimate of $423.20 million. During the same quarter in the previous year, the company posted $0.15 earnings per share. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. Analysts expect that JDS Uniphase Corp. will post $0.68 EPS for the current fiscal year.
A number of other firms have also recently commented on JDSU. Analysts at Evercore Partners cut their price target on shares of JDS Uniphase Corp. from $16.00 to $15.00 in a research note to investors on Thursday. They now have an “equal weight” rating on the stock. Separately, analysts at Jefferies Group downgraded shares of JDS Uniphase Corp. from a “buy” rating to a “hold” rating in a research note to investors on Thursday. Finally, analysts at Barclays reiterated a “hold” rating on shares of JDS Uniphase Corp. in a research note to investors on Thursday. They now have a $16.00 price target on the stock. Eight investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. JDS Uniphase Corp. currently has an average rating of “Hold” and an average target price of $15.73.
JDS Uniphase Corporation (NASDAQ:JDSU) is a provider of communications test and measurement solutions and optical products for telecommunications service providers, wireless operators, cable operators, and network equipment manufacturers.
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