Vitesse Semiconductor major shareholder William C. Martin Acquires 1,600,000 Shares (VTSS)
Vitesse Semiconductor (NASDAQ:VTSS) major shareholder William C. Martin purchased 1,600,000 shares of the stock in a transaction that occurred on Thursday, June 12th. The shares were purchased at an average cost of $3.35 per share, with a total value of $5,360,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.
Shares of Vitesse Semiconductor (NASDAQ:VTSS) traded down 1.14% on Monday, hitting $3.47. 280,847 shares of the company’s stock traded hands. Vitesse Semiconductor has a 1-year low of $2.26 and a 1-year high of $4.69. The stock’s 50-day moving average is $3.56 and its 200-day moving average is $3.55. The company’s market cap is $203.7 million.
Vitesse Semiconductor (NASDAQ:VTSS) last released its earnings data on Tuesday, May 6th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the 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. Analysts expect that Vitesse Semiconductor will post $-0.17 EPS for the current fiscal year.
VTSS has been the subject of a number of recent research reports. Analysts at Craig Hallum upgraded shares of Vitesse Semiconductor from a “hold” rating to a “buy” rating in a research note on Wednesday, May 7th. They now have a $4.00 price target on the stock, up previously from $3.50. 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.
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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