inTEST (NYSEAMERICAN:INTT) Stock Rating Lowered by Zacks Investment Research

inTEST (NYSEAMERICAN:INTT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Friday, Zacks.com reports.

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. “

Shares of INTT opened at $4.57 on Friday. inTEST has a 1 year low of $4.10 and a 1 year high of $7.88.

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

In related news, CEO James Pelrin acquired 9,700 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were acquired at an average cost of $4.40 per share, for a total transaction of $42,680.00. Following the completion of the purchase, the chief executive officer now directly owns 118,196 shares in the company, valued at $520,062.40. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. GSA Capital Partners LLP bought a new stake in inTEST in the second quarter worth about $66,000. Alambic Investment Management L.P. raised its position in inTEST by 33.0% in the second quarter. Alambic Investment Management L.P. now owns 47,954 shares of the semiconductor company’s stock worth $231,000 after acquiring an additional 11,900 shares in the last quarter. Acadian Asset Management LLC raised its position in inTEST by 12.7% in the second quarter. Acadian Asset Management LLC now owns 91,960 shares of the semiconductor company’s stock worth $442,000 after acquiring an additional 10,380 shares in the last quarter. Wedge Capital Management L L P NC raised its position in inTEST by 14.7% in the second quarter. Wedge Capital Management L L P NC now owns 209,737 shares of the semiconductor company’s stock worth $1,009,000 after acquiring an additional 26,914 shares in the last quarter. Finally, BlackRock Inc. raised its position in inTEST by 0.7% in the second quarter. BlackRock Inc. now owns 569,763 shares of the semiconductor company’s stock worth $2,740,000 after acquiring an additional 4,175 shares in the last quarter.

About inTEST

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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