Ixia (XXIA) Given Consensus Rating of “Hold” by Brokerages
Shares of Ixia (NASDAQ:XXIA) have been assigned an average recommendation of “Hold” from the six ratings firms that are currently covering the firm. Four equities research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $18.29.
XXIA has been the topic of several recent analyst reports. Stifel Nicolaus boosted their target price on shares of Ixia from $18.50 to $20.00 and gave the company a “buy” rating in a report on Wednesday, January 25th. Zacks Investment Research raised shares of Ixia from a “hold” rating to a “buy” rating and set a $22.00 price target on the stock in a research note on Thursday, February 2nd. Wunderlich reissued a “buy” rating and issued a $19.65 price target (up from $19.00) on shares of Ixia in a research note on Monday, January 30th. Gabelli downgraded shares of Ixia from a “buy” rating to a “hold” rating in a research note on Tuesday, January 31st. Finally, DA Davidson downgraded shares of Ixia from a “buy” rating to a “neutral” rating and set a $19.65 price target on the stock. in a research note on Monday, January 30th.
Shares of Ixia (NASDAQ:XXIA) opened at 19.65 on Wednesday. Ixia has a 52-week low of $9.10 and a 52-week high of $19.65. The company has a 50-day moving average of $19.59 and a 200-day moving average of $16.54.
Ixia (NASDAQ:XXIA) last posted its earnings results on Tuesday, February 21st. The technology company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.03. The company had revenue of $128.20 million for the quarter, compared to analyst estimates of $127.24 million. Ixia had a net margin of 1.89% and a return on equity of 7.94%. Ixia’s revenue was down 7.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.22 EPS. On average, equities analysts anticipate that Ixia will post $0.81 EPS for the current year.
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In related news, insider Matthew S. Alexander sold 4,524 shares of the company’s stock in a transaction that occurred on Wednesday, March 8th. The shares were sold at an average price of $19.51, for a total transaction of $88,263.24. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Brent T. Novak sold 6,317 shares of the company’s stock in a transaction that occurred on Wednesday, March 8th. The stock was sold at an average price of $19.51, for a total transaction of $123,244.67. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 96,378 shares of company stock worth $1,884,445. 24.40% of the stock is owned by insiders.
A number of large investors have recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of Ixia during the fourth quarter valued at $19,571,000. Chicago Capital Management LLC acquired a new stake in shares of Ixia during the first quarter valued at $18,381,000. BlackRock Fund Advisors increased its stake in shares of Ixia by 9.0% in the third quarter. BlackRock Fund Advisors now owns 4,416,416 shares of the technology company’s stock valued at $55,205,000 after buying an additional 364,062 shares during the last quarter. Divisar Capital Management LLC acquired a new stake in shares of Ixia during the fourth quarter valued at $5,228,000. Finally, Oribel Capital Management LP acquired a new stake in shares of Ixia during the fourth quarter valued at $5,034,000. 63.59% of the stock is currently owned by hedge funds and other institutional investors.
Ixia is a provider of physical and virtual network application performance and security resilience solutions. The Company’s product solutions consist of its hardware platforms, software applications and services, including warranty and maintenance offerings. The Company helps its customers to validate the performance and security resilience of their applications and networks.
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