Multi-Fineline Electronix Price Target Raised to $19.00 at Needham & Company (MFLX)
Equities researchers at Needham & Company lifted their price objective on shares of Multi-Fineline Electronix (NASDAQ:MFLX) from $15.50 to $19.00 in a research report issued on Friday, StockRatingsNetwork.com reports. Needham & Company’s target price would suggest a potential upside of 27.01% from the company’s current price.
Multi-Fineline Electronix (NASDAQ:MFLX) traded down 2.01% during mid-day trading on Friday, hitting $14.66. 64,101 shares of the company’s stock traded hands. Multi-Fineline Electronix has a 1-year low of $12.12 and a 1-year high of $17.43. The stock has a 50-day moving average of $14.19 and a 200-day moving average of $14.40. The company’s market cap is $353.1 million.
Multi-Fineline Electronix (NASDAQ:MFLX) last issued its quarterly earnings data on Thursday, February 6th. The company reported ($0.39) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.47) by $0.08. The company had revenue of $211.70 million for the quarter, compared to the consensus estimate of $210.00 million. During the same quarter in the previous year, the company posted $0.35 earnings per share. The company’s revenue for the quarter was down 26.9% on a year-over-year basis. On average, analysts predict that Multi-Fineline Electronix will post $-2.27 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Zacks downgraded shares of Multi-Fineline Electronix from a “neutral” rating to an “underperform” rating in a research note on Thursday, February 6th. They now have a $13.20 price target on the stock.
Multi-Fineline Electronix, Inc, (NASDAQ:MFLX) is a provider of advanced, flexible printed circuits and value-added component assembly solutions to the electronics industry.
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