Needham & Company Reaffirms Hold Rating on MEMC Electronic Materials (WFR)

By admin | 6 years ago

MEMC Electronic Materials (NYSE: WFR)‘s stock had its “hold” rating reiterated by investment analysts at Needham & Company in a note issued to investors on Thursday.

Shares of MEMC Electronic Materials opened at 2.45 on Thursday. MEMC Electronic Materials has a 52 week low of $3.20 and a 52 week high of $11.31. The company’s market cap is $565.5 million.

MEMC Electronic Materials last announced its earnings results on Wednesday, May 9th. The company reported ($0.26) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.16) by $0.10. MEMC Electronic Materials’s revenue was down 29.4% compared to the same quarter last year. On average, analysts predict that MEMC Electronic Materials will post $0.12 earnings per share next quarter.

Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks reiterated a “neutral” rating on shares of MEMC Electronic Materials in a research note to investors on Friday, February 17th. They now have a $5.00 price target on the stock. Separately, analysts at Auriga reiterated a “buy” rating on shares of MEMC Electronic Materials in a research note to investors on Thursday, February 16th. Finally, analysts at Jefferies Group (NYSE: JEF) upgraded shares of MEMC Electronic Materials from an “underperform” rating to a “hold” rating in a research note to investors on Thursday, February 16th.

MEMC Electronic Materials, Inc. (MEMC) is engaged in the development, manufacture, and sale of silicon wafers.

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