Research analysts at Keefe, Bruyette & Woods initiated coverage on shares of Nidec Co. (NYSE:NJ) in a research note issued on Thursday. The brokerage set an “outperform” rating and a $14.00 price target on the industrial goods maker’s stock. Keefe, Bruyette & Woods’ price target indicates a potential downside of 22.69% from the company’s current price.

Separately, DA Davidson reissued a “neutral” rating and issued a $18.00 price objective on shares of Nidec in a research note on Friday, September 1st.

Shares of Nidec (NYSE:NJ) traded down 1.42% during mid-day trading on Thursday, reaching $18.11. 141,045 shares of the company’s stock traded hands. The firm has a 50-day moving average price of $17.46 and a 200-day moving average price of $17.79. Nidec has a 1-year low of $14.72 and a 1-year high of $22.89.

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Several hedge funds have recently modified their holdings of NJ. Checchi Capital Advisers LLC raised its stake in shares of Nidec by 2.9% in the 2nd quarter. Checchi Capital Advisers LLC now owns 10,038 shares of the industrial goods maker’s stock valued at $189,000 after acquiring an additional 283 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Nidec in the 2nd quarter valued at approximately $199,000. Eqis Capital Management Inc. raised its stake in shares of Nidec by 8.2% in the 3rd quarter. Eqis Capital Management Inc. now owns 14,055 shares of the industrial goods maker’s stock valued at $322,000 after acquiring an additional 1,071 shares in the last quarter. BTC Capital Management Inc. raised its stake in shares of Nidec by 60.2% in the 1st quarter. BTC Capital Management Inc. now owns 32,226 shares of the industrial goods maker’s stock valued at $554,000 after acquiring an additional 12,106 shares in the last quarter. Finally, Avalon Advisors LLC bought a new position in shares of Nidec in the 1st quarter valued at approximately $607,000.

Nidec Company Profile

Nidec Corporation is engaged in manufacturing of electric motors and related components and equipment. The Company focuses on providing brushless direct current (DC) motors for the information technology (IT) industry. The Company operates through nine segments: Nidec Corporation, Nidec Electronics (Thailand), Nidec Singapore, Nidec (H.K.), Nidec Sankyo, Nidec Copal, Nidec Techno Motor, Nidec Motor, and Nidec Motors & Actuators.

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