ANADIGICS Rating Reiterated by Zacks (ANAD)
ANADIGICS (NASDAQ:ANAD)‘s stock had its “neutral” rating reaffirmed by Zacks in a research report issued to clients and investors on Thursday. They currently have a $0.75 price target on the stock. Zacks‘s target price indicates a potential downside of 2.33% from the company’s current price.
Zacks’ analyst wrote, “Anadigics’ second quarter 2014 adjusted loss with employee stock option adjustments came in at $0.11 per share, which matched with the Zacks Consensus Estimate. Anadigics expects sequential growth in its wireless segment as new products offset the decline in legacy business. Management also expects gross margin to improve as the company completes the transition from legacy to new products. However, we remain concerned with the cash burn and do not expect the company to return to profitability before 2016. Anadigics continues to be affected by the uncertain economic environment and there appears to be no respite from the weakening demand in the near term. We prefer to remain on the sidelines and retain our Neutral recommendation. “
ANADIGICS (NASDAQ:ANAD) traded down 19.23% during mid-day trading on Thursday, hitting $0.6202. The stock had a trading volume of 3,082,635 shares. ANADIGICS has a one year low of $0.70 and a one year high of $2.20. The stock’s 50-day moving average is $0.89 and its 200-day moving average is $1.4. The company’s market cap is $53.1 million.
ANADIGICS (NASDAQ:ANAD) last announced its earnings results on Wednesday, August 6th. The company reported ($0.09) earnings per share for the quarter, meeting the analysts’ consensus estimate of ($0.09). The company had revenue of $23.30 million for the quarter, compared to the consensus estimate of $24.89 million. During the same quarter last year, the company posted ($0.14) earnings per share. ANADIGICS’s revenue was down 32.7% compared to the same quarter last year. On average, analysts predict that ANADIGICS will post $-0.32 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Craig Hallum downgraded shares of ANADIGICS from a “buy” rating to a “hold” rating in a research note on Thursday. They now have a $0.75 price target on the stock, down previously from $2.00. Separately, analysts at Needham & Company LLC downgraded shares of ANADIGICS from a “buy” rating to a “hold” rating in a research note on Friday, June 27th. They now have a $2.10 price target on the stock. Finally, analysts at Credit Suisse reiterated a “hold” rating on shares of ANADIGICS in a research note on Wednesday, May 21st. They now have a $2.00 price target on the stock. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. The stock has an average rating of “Hold” and an average target price of $1.40.
ANADIGICS, Inc is a designer and manufacturer of radio frequency (NASDAQ:ANAD) semiconductor solutions for cellular wireless, wireless fidelity (WiFi), and infrastructure applications.
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