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Investment analysts at Needham & Company LLC reduced their price target on shares of Ikanos Communications (NASDAQ:IKAN) from $1.00 to $0.60 in a note issued to investors on Monday. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s price objective points to a potential upside of 50.04% from the stock’s previous close.

Ikanos Communications (NASDAQ:IKAN) opened at 0.3999 on Monday. Ikanos Communications has a 52 week low of $0.38 and a 52 week high of $1.45. The stock’s 50-day moving average is $0.42 and its 200-day moving average is $0.6. The company’s market cap is $39.5 million.

Ikanos Communications (NASDAQ:IKAN) last issued its quarterly earnings data on Thursday, July 31st. The company reported ($0.12) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.12). The company had revenue of $11.30 million for the quarter, compared to the consensus estimate of $11.98 million. On average, analysts predict that Ikanos Communications will post $-0.37 earnings per share for the current fiscal year.

Ikanos Communications, Inc (NASDAQ:IKAN) is a provider of advanced broadband semiconductor and software products for the digital home.

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