IXYS Corp. Sees Large Volume Increase After Earnings Beat (IXYS)
IXYS Corp. (NASDAQ:IXYS) shares saw unusually-strong trading volume on Thursday following a stronger than expected earnings report, AnalystRatingsNetwork.com reports. Approximately 143,967 shares traded hands during mid-day trading, an increase of 44% from the previous session’s volume of 99,727 shares.The stock last traded at $10.82 and had previously closed at $11.08.
The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.04. The company had revenue of $89.90 million for the quarter, compared to the consensus estimate of $91.00 million. During the same quarter in the previous year, the company posted $0.03 earnings per share. The company’s revenue for the quarter was up 34.4% on a year-over-year basis.
Separately, analysts at Needham & Company LLC reiterated a “buy” rating on shares of IXYS Corp. in a research note on Thursday. They now have a $14.00 price target on the stock, down previously from $15.00.
The stock has a 50-day moving average of $10.8 and a 200-day moving average of $11.83. The company has a market cap of $339.0 million and a price-to-earnings ratio of 85.89.
IXYS Corporation is an integrated semiconductor company. It specializes in the development, manufacture and marketing power semiconductors, advanced mixed-signal integrated circuits (NASDAQ:IXYS), application specific integrated circuits (ASICs), microcontrollers, systems and radio frequency (RF), and power semiconductors.
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