Zacks Investment Research Upgrades inTEST (INTT) to Buy
inTEST (NYSEAMERICAN:INTT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday. The firm currently has a $9.75 price target on the semiconductor company’s stock. Zacks Investment Research‘s price target points to a potential upside of 10.80% from the stock’s current price.
According to Zacks, “InTEST Corporation is an independent designer, manufacturer and marketer of ATE interface solutions and temperature management products, which are used by semiconductor manufacturers to perform final testing of integrated circuits and wafers. The Company’s high-performance products are designed to enable semiconductor manufacturers to improve the speed, reliability, efficiency and profitability of IC test processes. Specific products include positioner and docking hardware products, temperature management systems and customized interface solutions. The Company has established strong relationships with semiconductor manufacturers globally, which it supports through a network of local offices. “
Several other research firms also recently commented on INTT. Dougherty & Co assumed coverage on inTEST in a research report on Friday, October 6th. They issued a “buy” rating and a $11.00 target price for the company. Sidoti assumed coverage on inTEST in a research report on Tuesday, September 5th. They issued a “buy” rating for the company.
In other news, major shareholder Thomas A. Satterfield, Jr. sold 93,769 shares of the firm’s stock in a transaction dated Thursday, September 28th. The stock was sold at an average price of $8.30, for a total transaction of $778,282.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Nokomis Capital, L.L.C. sold 120,000 shares of the firm’s stock in a transaction dated Monday, October 9th. The stock was sold at an average price of $9.40, for a total value of $1,128,000.00. The disclosure for this sale can be found here. Insiders sold 321,883 shares of company stock valued at $2,808,306 over the last quarter.
Several institutional investors and hedge funds have recently modified their holdings of INTT. Spark Investment Management LLC grew its stake in inTEST by 502.1% during the second quarter. Spark Investment Management LLC now owns 85,500 shares of the semiconductor company’s stock worth $568,000 after purchasing an additional 71,300 shares during the period. Algert Global LLC acquired a new stake in inTEST during the second quarter worth approximately $919,000. Seizert Capital Partners LLC grew its stake in inTEST by 5.2% during the second quarter. Seizert Capital Partners LLC now owns 106,163 shares of the semiconductor company’s stock worth $706,000 after purchasing an additional 5,217 shares during the period. LSV Asset Management grew its stake in inTEST by 32.3% during the second quarter. LSV Asset Management now owns 92,500 shares of the semiconductor company’s stock worth $619,000 after purchasing an additional 22,600 shares during the period. Finally, Thompson Davis & CO. Inc. grew its stake in inTEST by 38.9% during the second quarter. Thompson Davis & CO. Inc. now owns 18,750 shares of the semiconductor company’s stock worth $125,000 after purchasing an additional 5,250 shares during the period.
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inTEST Company Profile
inTEST Corporation is an independent designer, manufacturer and marketer of thermal, mechanical and electrical products that are used by semiconductor manufacturers in conjunction with automated test equipment (ATE), in the testing of integrated circuit (ICs). The Company operates through three segments: Thermal Products, Mechanical Products and Electrical Products.
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