Key Technology Inc. (KTEC) Issues Earnings Results
Key Technology Inc. (NASDAQ:KTEC) released its earnings results on Thursday. The company reported $0.08 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.17 by $0.09. The firm earned $120 million during the quarter, compared to analysts’ expectations of $102.90 million. Key Technology had a negative net margin of 2.30% and a negative return on equity of 4.47%.
Key Technology (NASDAQ:KTEC) opened at 10.05 on Friday. The stock’s market capitalization is $64.34 million. Key Technology has a one year low of $6.25 and a one year high of $12.98. The stock’s 50 day moving average is $10.49 and its 200 day moving average is $9.97.
Separately, TheStreet upgraded shares of Key Technology from a “sell” rating to a “hold” rating in a report on Monday, August 8th.
Several large investors have recently modified their holdings of KTEC. Vanguard Group Inc. boosted its stake in shares of Key Technology by 6.4% in the second quarter. Vanguard Group Inc. now owns 126,158 shares of the company’s stock worth $1,162,000 after buying an additional 7,600 shares in the last quarter. Franklin Resources Inc. purchased a new position in Key Technology during the second quarter worth about $544,000. Bridgeway Capital Management Inc. raised its position in Key Technology by 45.0% in the second quarter. Bridgeway Capital Management Inc. now owns 36,100 shares of the company’s stock worth $332,000 after buying an additional 11,200 shares during the last quarter. Wells Fargo & Company MN raised its position in Key Technology by 15.9% in the third quarter. Wells Fargo & Company MN now owns 179,867 shares of the company’s stock worth $1,979,000 after buying an additional 24,615 shares during the last quarter. Finally, Northern Trust Corp raised its position in Key Technology by 3.0% in the third quarter. Northern Trust Corp now owns 17,714 shares of the company’s stock worth $195,000 after buying an additional 516 shares during the last quarter. Institutional investors and hedge funds own 49.34% of the company’s stock.
About Key Technology
Key Technology, Inc is a producer of vegetable processing equipment. The Company is a supplier of process automation solutions to the food processing industry and other industries, such as tobacco and pharmaceuticals. The Company designs, manufactures, sells and services process automation systems that process product streams of discrete pieces.
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