LTX-Credence Corp. Trading Up 9.6% on Strong Earnings (LTXC)
LTX-Credence Corp. (NASDAQ:LTXC) shares were up 9.6% during mid-day trading on Thursday following a better than expected earnings announcement, StockRatingsNetwork reports. The stock traded as high as $10.18 and last traded at $10.07, with a volume of 1,113,501 shares traded. The stock had previously closed at $9.19.
The company reported ($0.13) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.19) by $0.06. The company had revenue of $68.36 million for the quarter, compared to the consensus estimate of $71.93 million. During the same quarter last year, the company posted ($0.08) earnings per share. LTX-Credence Corp.’s revenue was up 95.3% compared to the same quarter last year.
A number of analysts have recently weighed in on LTXC shares. Analysts at Sidoti initiated coverage on shares of LTX-Credence Corp. in a research note on Thursday, February 20th. They set a “buy” rating on the stock. Analysts at B. Riley initiated coverage on shares of LTX-Credence Corp. in a research note on Thursday, December 12th. They set a “buy” rating on the stock. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $7.43.
The stock’s 50-day moving average is $8.70 and its 200-day moving average is $6.93. The company’s market cap is $478.4 million.
LTX-Credence Corporation (NASDAQ:LTXC) provides focused, automated test equipment (ATE) solutions for the semiconductor industry.
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