Craig Hallum Cuts PLX Technology to Hold (PLXT)
A number of other analysts have also recently weighed in on PLXT. Analysts at Roth Capital downgraded shares of PLX Technology from a “buy” rating to a “neutral” rating in a research note to investors on Tuesday. Separately, analysts at ThinkEquity downgraded shares of PLX Technology from a “buy” rating to a “hold” rating in a research note to investors on Tuesday. Finally, analysts at Wunderlich raised their price target on shares of PLX Technology from $3.50 to $7.00 in a research note to investors on Tuesday. They now have a “hold” rating on the stock.
PLX Technology traded down 0.60% on Tuesday, hitting $6.6199. PLX Technology has a 1-year low of $2.52 and a 1-year high of $6.70. The company’s market cap is $296.1 million.
The company last announced its quarterly results on Monday, April 30th. It reported ($0.12) earnings per share (EPS) for the previous quarter, missing the Thomson Reuters consensus estimate of ($0.06) EPS by $0.06. The company’s quarterly revenue was down 9.6% on a year-over-year basis. Analysts expect that PLX Technology will post $0.02 EPS next quarter.
PLX Technology, Inc. (PLX) designs, develops, manufactures and sells integrated circuits that perform critical system connectivity functions.