Zacks Investment Research Downgrades Xcerra Corp. (XCRA) to Sell
Xcerra Corp. (NASDAQ:XCRA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Wednesday.
According to Zacks, “Xcerra Corporation engages in designing, manufacturing, and marketing automatic test equipment for the semiconductor industry. Its product portfolio includes Diamond platform; X-Series platform; and ASL platform. The Company also offers various services, such as installation and maintenance of test systems, servicing of spare parts, parts and labor warranties on test systems and instruments, and training on the maintenance and operation of test systems. Xcerra Corporation, formerly known as LTX-Credence Corporation, is headquartered in Norwood, Massachusetts. “
Other analysts have also recently issued research reports about the company. B. Riley reaffirmed a “buy” rating and set a $8.25 target price on shares of Xcerra Corp. in a research report on Friday, August 26th. DA Davidson reaffirmed a “buy” rating and set a $10.00 target price on shares of Xcerra Corp. in a research report on Monday, August 29th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. Xcerra Corp. currently has a consensus rating of “Hold” and an average price target of $8.06.
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Shares of Xcerra Corp. (NASDAQ:XCRA) traded up 0.51% during midday trading on Wednesday, hitting $5.92. The stock had a trading volume of 13,456 shares. Xcerra Corp. has a 12 month low of $4.93 and a 12 month high of $7.60. The stock has a market cap of $319.57 million, a PE ratio of 28.46 and a beta of 1.40. The stock’s 50-day moving average is $5.85 and its 200-day moving average is $6.01.
Xcerra Corp. (NASDAQ:XCRA) last released its quarterly earnings data on Thursday, September 1st. The company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.08 by $0.04. The company had revenue of $91.23 million for the quarter, compared to the consensus estimate of $91.76 million. Xcerra Corp. had a return on equity of 0.96% and a net margin of 4.03%. Xcerra Corp.’s quarterly revenue was down 10.7% on a year-over-year basis. During the same period last year, the business posted $0.16 EPS. Equities analysts anticipate that Xcerra Corp. will post $0.18 EPS for the current year.
Several hedge funds have recently bought and sold shares of XCRA. KCG Holdings Inc. acquired a new stake in Xcerra Corp. during the second quarter worth $112,000. Genesee Valley Trust Co. boosted its stake in Xcerra Corp. by 8.3% in the second quarter. Genesee Valley Trust Co. now owns 19,590 shares of the company’s stock worth $113,000 after buying an additional 1,500 shares during the last quarter. BlackRock Group LTD boosted its stake in Xcerra Corp. by 60.5% in the second quarter. BlackRock Group LTD now owns 23,709 shares of the company’s stock worth $136,000 after buying an additional 8,941 shares during the last quarter. Citadel Advisors LLC acquired a new stake in Xcerra Corp. during the second quarter worth $138,000. Finally, OMERS ADMINISTRATION Corp acquired a new stake in Xcerra Corp. during the first quarter worth $140,000. 86.76% of the stock is owned by hedge funds and other institutional investors.
About Xcerra Corp.
Xcerra Corporation, formerly LTX-Credence Corporation, is engaged in providing test and handling capital equipment, interface products, test fixtures and related services to the semiconductor and electronics manufacturing industries. The Company operates through six segments: Semiconductor Test, Semiconductor Handlers, Contactors, Printed Circuit Board (PCB) Test, Probes/Pins and Fixtures.
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