Needham & Company LLC Increases Park Electrochemical (PKE) Price Target to $24.00

Park Electrochemical (NYSE:PKE) had its price objective raised by analysts at Needham & Company LLC to $24.00 in a research note issued to investors on Friday, The Fly reports. The brokerage presently has a “buy” rating on the semiconductor company’s stock. Needham & Company LLC’s target price points to a potential upside of 18.23% from the company’s current price. The analysts noted that the move was a valuation call.

Separately, Zacks Investment Research upgraded shares of Park Electrochemical from a “sell” rating to a “hold” rating in a report on Wednesday, December 6th.

Park Electrochemical (PKE) traded up $0.64 during trading on Friday, reaching $20.30. 426,700 shares of the company traded hands, compared to its average volume of 209,067. Park Electrochemical has a 52-week low of $16.00 and a 52-week high of $20.98. The firm has a market capitalization of $413.86, a PE ratio of 81.20 and a beta of 0.89. The company has a current ratio of 15.23, a quick ratio of 14.56 and a debt-to-equity ratio of 0.37.

Park Electrochemical (NYSE:PKE) last announced its quarterly earnings results on Thursday, January 4th. The semiconductor company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.07). Park Electrochemical had a net margin of 5.63% and a return on equity of 5.12%. During the same quarter last year, the firm earned $0.10 EPS. research analysts anticipate that Park Electrochemical will post 0.54 earnings per share for the current fiscal year.

Several large investors have recently modified their holdings of PKE. BNP Paribas Arbitrage SA lifted its position in shares of Park Electrochemical by 57.3% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 6,986 shares of the semiconductor company’s stock worth $129,000 after buying an additional 2,545 shares during the last quarter. Municipal Employees Retirement System of Michigan lifted its position in shares of Park Electrochemical by 59.0% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 7,140 shares of the semiconductor company’s stock worth $132,000 after buying an additional 2,650 shares during the last quarter. Thrivent Financial For Lutherans lifted its position in shares of Park Electrochemical by 7.3% during the 2nd quarter. Thrivent Financial For Lutherans now owns 11,480 shares of the semiconductor company’s stock worth $211,000 after buying an additional 780 shares during the last quarter. Voya Investment Management LLC increased its holdings in shares of Park Electrochemical by 13.6% in the 2nd quarter. Voya Investment Management LLC now owns 13,071 shares of the semiconductor company’s stock valued at $241,000 after acquiring an additional 1,561 shares during the period. Finally, SG Americas Securities LLC acquired a new position in shares of Park Electrochemical in the 3rd quarter valued at $254,000. Institutional investors and hedge funds own 81.82% of the company’s stock.

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Park Electrochemical Company Profile

Park Electrochemical Corp. is a global advanced materials company. The Company develops, manufactures, markets and sells digital and radio frequency (RF)/microwave printed circuit materials products principally for the telecommunications and Internet infrastructure and high-end computing markets and advanced composite materials, parts and assemblies and low-volume tooling products for the aerospace markets.

The Fly

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