EZchip Sees Unusually-High Trading Volume After Better-Than-Expected Earnings (EZCH)
EZchip (NASDAQ:EZCH) saw an uptick in trading volume on Wednesday following a stronger than expected earnings report, Analyst Ratings Network reports. Approximately 330,532 shares changed hands during mid-day trading, an increase of 155% from the previous session’s volume of 129,691 shares.The stock last traded at $25.15 and had previously closed at $24.81.
The company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.02. The company had revenue of $22.10 million for the quarter, compared to the consensus estimate of $22.04 million.
A number of analysts have recently weighed in on EZCH shares. Analysts at Imperial Capital initiated coverage on shares of EZchip in a research note on Wednesday, August 6th. They set an “outperform” rating and a $28.00 price target on the stock. Analysts at Feltl & Co. upgraded shares of EZchip from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 17th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $30.40.
The stock has a 50-day moving average of $25.69 and a 200-day moving average of $25.23. The company has a market cap of $729.1 million and a price-to-earnings ratio of 29.93.
EZchip Semiconductor Ltd. is the holding company of EZchip Technologies Ltd. (NASDAQ:EZCH).
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