PDF Solutions, Inc. (NASDAQ:PDFS) dropped 9.1% on Friday following a weaker than expected earnings announcement. The stock traded as low as $14.12 and last traded at $14.32. Approximately 543,174 shares traded hands during trading, an increase of 143% from the average daily volume of 223,475 shares. The stock had previously closed at $15.76.
The technology company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.01). PDF Solutions had a net margin of 5.29% and a return on equity of 2.78%. The business had revenue of $26.50 million for the quarter, compared to the consensus estimate of $26.67 million. During the same period in the previous year, the firm earned $0.17 EPS. The company’s revenue was down 2.9% compared to the same quarter last year.
PDFS has been the topic of a number of analyst reports. Zacks Investment Research raised shares of PDF Solutions from a “sell” rating to a “hold” rating in a report on Tuesday, October 3rd. BidaskClub raised shares of PDF Solutions from a “sell” rating to a “hold” rating in a report on Saturday, July 8th. Northland Securities raised shares of PDF Solutions from a “market perform” rating to an “outperform” rating and set a $22.00 target price on the stock in a report on Tuesday, October 3rd. Finally, Craig Hallum cut shares of PDF Solutions from a “buy” rating to a “hold” rating and lowered their target price for the company from $22.00 to $18.00 in a report on Friday, July 28th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $20.00.
In other news, Director Lucio Lanza sold 60,000 shares of the company’s stock in a transaction on Friday, August 18th. The shares were sold at an average price of $15.00, for a total value of $900,000.00. Following the transaction, the director now owns 318,967 shares of the company’s stock, valued at $4,784,505. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 16.20% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in PDFS. UBS Asset Management Americas Inc. bought a new position in shares of PDF Solutions in the second quarter worth $178,000. Sei Investments Co. increased its holdings in shares of PDF Solutions by 30.3% in the second quarter. Sei Investments Co. now owns 11,469 shares of the technology company’s stock worth $189,000 after purchasing an additional 2,669 shares during the period. Bank of America Corp DE increased its holdings in shares of PDF Solutions by 9.8% in the first quarter. Bank of America Corp DE now owns 9,373 shares of the technology company’s stock worth $212,000 after purchasing an additional 833 shares during the period. Marshall Wace North America L.P. bought a new position in shares of PDF Solutions in the first quarter worth $222,000. Finally, MARSHALL WACE ASIA Ltd bought a new position in shares of PDF Solutions in the first quarter worth $222,000. 82.40% of the stock is currently owned by hedge funds and other institutional investors.
The firm has a 50-day moving average of $15.43 and a 200-day moving average of $16.96. The stock has a market cap of $463.01 million, a PE ratio of 84.73 and a beta of 1.40.
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About PDF Solutions
PDF Solutions, Inc is a provider of infrastructure technologies and services for integrated circuits (IC). The Company’s technologies and services focus on the IC manufacturing process life cycle. It operates in the segment of licensing and implementation of yield improvement solutions for integrated circuit manufacturers.
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