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Newport Corp. (NASDAQ:NEWP) was upgraded by stock analysts at TheStreet from a “hold” rating to a “buy” rating in a report issued on Friday, Analyst Ratings Network.com reports.

The analysts wrote, “Newport Corporation (NEWP) has been upgraded by TheStreet Ratings from hold to buy. The company’s strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, impressive record of earnings per share growth, compelling growth in net income and solid stock price performance. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook.”

Other equities research analysts have also recently issued reports about the stock. Analysts at Needham & Company raised their price target on shares of Newport Corp. from $19.00 to $22.00 in a research note on Thursday, January 16th. They now have a “buy” rating on the stock. Analysts at Zacks downgraded shares of Newport Corp. from an “outperform” rating to a “neutral” rating in a research note on Tuesday, December 31st. They now have a $19.60 price target on the stock. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $20.20.

Newport Corp. (NASDAQ:NEWP) traded down 0.50% during mid-day trading on Friday, hitting $18.8951. The stock had a trading volume of 174,900 shares. Newport Corp. has a 1-year low of $12.81 and a 1-year high of $19.97. The stock has a 50-day moving average of $18.07 and a 200-day moving average of $16.. The company’s market cap is $739.6 million.

Newport Corp. (NASDAQ:NEWP) last released its earnings data on Wednesday, February 12th. The company reported $0.38 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.20 by $0.18. The company had revenue of $154.20 million for the quarter, compared to the consensus estimate of $144.76 million. During the same quarter in the prior year, the company posted $0.37 earnings per share. The company’s quarterly revenue was up 8.9% on a year-over-year basis. Analysts expect that Newport Corp. will post $0.92 EPS for the current fiscal year.

Newport Corporation is a supplier of advanced technology products and systems to a range of industries, including scientific research, microelectronics, aerospace and defence/security, life and health sciences, and industrial markets.

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