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Vitesse Semiconductor (NASDAQ:VTSS) was upgraded by research analysts at Craig Hallum from a “hold” rating to a “buy” rating in a report released on Wednesday, reports. The firm currently has a $4.00 price target on the stock, up from their previous price target of $3.50. Craig Hallum’s target price points to a potential upside of 16.62% from the stock’s previous close.

VTSS has been the subject of a number of other recent research reports. Analysts at Zacks downgraded shares of Vitesse Semiconductor to a “neutral” rating in a research note on Wednesday, March 19th. They now have a $4.70 price target on the stock. Analysts at Benchmark Co. initiated coverage on shares of Vitesse Semiconductor in a research note on Friday, March 14th. They set a “buy” rating on the stock.

Shares of Vitesse Semiconductor (NASDAQ:VTSS) traded down 1.47% during mid-day trading on Wednesday, hitting $3.35. The stock had a trading volume of 149,190 shares. Vitesse Semiconductor has a 52 week low of $2.07 and a 52 week high of $4.69. The stock has a 50-day moving average of $4.0 and a 200-day moving average of $3.40. The company’s market cap is $195.1 million. Vitesse Semiconductor also saw a significant increase in short interest in April. As of April 15th, there was short interest totalling 1,276,457 shares, an increase of 39.6% from the March 31st total of 914,107 shares. Based on an average daily volume of 300,188 shares, the days-to-cover ratio is presently 4.3 days. Approximately 2.3% of the company’s shares are short sold.

Vitesse Semiconductor (NASDAQ:VTSS) last posted its quarterly earnings results on Tuesday, May 6th. The company reported ($0.07) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.06) by $0.01. The company had revenue of $25.60 million for the quarter, compared to the consensus estimate of $26.27 million. On average, analysts predict that Vitesse Semiconductor will post $-0.11 earnings per share for the current fiscal year.

Vitesse Semiconductor Corporation designs communications integrated circuits for network equipment. The Company designs and supplies communications integrated circuits for manufacturers of core, access, enterprise, metropolitan, and storage area network equipment.

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