inTEST (NYSEAMERICAN:INTT) Upgraded to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of inTEST (NYSEAMERICAN:INTT) from a hold rating to a buy rating in a research note issued to investors on Wednesday, Zacks.com reports. The firm currently has $5.25 price objective on the semiconductor company’s stock.

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. “

INTT traded down $0.19 during trading on Wednesday, hitting $4.57. The company’s stock had a trading volume of 27,292 shares, compared to its average volume of 31,034. inTEST has a twelve month low of $4.10 and a twelve month high of $7.88.

inTEST (NYSEAMERICAN:INTT) last issued its quarterly earnings results on Thursday, August 1st. The semiconductor company reported $0.01 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.03) by $0.04. The business had revenue of $14.35 million during the quarter.

In other news, CEO James Pelrin bought 9,700 shares of the stock in a transaction dated Friday, August 23rd. The shares were bought at an average cost of $4.40 per share, with a total value of $42,680.00. Following the completion of the transaction, the chief executive officer now directly owns 118,196 shares of the company’s stock, valued at $520,062.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in INTT. Wedge Capital Management L L P NC raised its position in inTEST by 14.7% in the 2nd quarter. Wedge Capital Management L L P NC now owns 209,737 shares of the semiconductor company’s stock valued at $1,009,000 after buying an additional 26,914 shares during the last quarter. GSA Capital Partners LLP bought a new position in inTEST in the 2nd quarter valued at $66,000. Acadian Asset Management LLC grew its stake in inTEST by 12.7% in the 2nd quarter. Acadian Asset Management LLC now owns 91,960 shares of the semiconductor company’s stock valued at $442,000 after purchasing an additional 10,380 shares during the period. Alambic Investment Management L.P. grew its stake in inTEST by 33.0% in the 2nd quarter. Alambic Investment Management L.P. now owns 47,954 shares of the semiconductor company’s stock valued at $231,000 after purchasing an additional 11,900 shares during the period. Finally, BlackRock Inc. grew its stake in inTEST by 0.7% in the 2nd quarter. BlackRock Inc. now owns 569,763 shares of the semiconductor company’s stock valued at $2,740,000 after purchasing an additional 4,175 shares during the period.

inTEST Company Profile

inTEST Corporation designs, manufactures, and markets thermal management products and semiconductor automated test equipment interface solutions worldwide. The company operates in two segments, Thermal Products (Thermal) and Electromechanical Semiconductor Products (EMS). The Thermal segment offers ThermoStream temperature management tools, MobileTemp systems, ThermoChambers, Thermal Platforms, ThermoChuck precision vacuum platform assemblies, Thermonics temperature conditioning products, and EKOHEAT and EASYHEAT induction heating systems.

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