Insider Selling: Newport Corp Director Sells 7,500 Shares of Stock (NEWP)
Newport Corp (NASDAQ:NEWP) Director Peter J. Simone unloaded 7,500 shares of the company’s stock on the open market in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $18.85, for a total value of $141,375.00. Following the transaction, the director now directly owns 53,512 shares of the company’s stock, valued at approximately $1,008,701. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Separately, analysts at TheStreet upgraded shares of Newport Corp from a “hold” rating to a “buy” rating in a research note on Wednesday, July 9th.
Shares of Newport Corp (NASDAQ:NEWP) traded up 0.80% during mid-day trading on Friday, hitting $18.87. The stock had a trading volume of 78,179 shares. Newport Corp has a one year low of $14.29 and a one year high of $21.80. The stock’s 50-day moving average is $18.11 and its 200-day moving average is $18.99. The company has a market cap of $753.5 million and a P/E ratio of 27.90.
Newport Corp (NASDAQ:NEWP) last announced its earnings results on Wednesday, July 30th. The company reported $0.34 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.21 by $0.13. The company had revenue of $153.20 million for the quarter, compared to the consensus estimate of $150.07 million. During the same quarter last year, the company posted $0.20 earnings per share. Newport Corp’s revenue was up 14.1% compared to the same quarter last year. On average, analysts predict that Newport Corp will post $1.03 earnings per share for the current fiscal year.
Newport Corporation is a supplier of advanced technology products and systems to a range of industries, including scientific research, microelectronics, aerospace and defence/security, life and health sciences, and industrial markets.
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