Insider Buying: William C. Martin Acquires 292,000 Shares of Vitesse Semicond Stock (VTSS)
Vitesse Semicond (NASDAQ:VTSS) major shareholder William C. Martin bought 292,000 shares of Vitesse Semicond stock in a transaction dated Friday, February 7th. The shares were purchased at an average price of $3.35 per share, with a total value of $978,200.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.
Vitesse Semicond (NASDAQ:VTSS) traded up 1.47% on Monday, hitting $3.46. The stock had a trading volume of 172,919 shares. Vitesse Semicond has a 1-year low of $1.95 and a 1-year high of $3.95. The stock’s 50-day moving average is $3.34 and its 200-day moving average is $2.94. The company’s market cap is $201.5 million.
Vitesse Semicond (NASDAQ:VTSS) last released its earnings data on Tuesday, February 4th. The company reported ($0.04) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.09) by $0.05. The company had revenue of $27.10 million for the quarter, compared to the consensus estimate of $27.10 million. Analysts expect that Vitesse Semicond will post $-0.14 EPS for the current fiscal year.
Separately, analysts at Craig Hallum downgraded shares of Vitesse Semicond from a “buy” rating to a “hold” rating in a research note to investors on Wednesday, February 5th.
Vitesse Semiconductor Corporation (NASDAQ:VTSS) is a worldwide supplier of integrated circuits (ICs) that are utilized by manufacturers of networking systems for Carrier, Enterprise and Storage communications applications.
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