Research analysts at Drexel Hamilton initiated coverage on shares of International Rectifier Corp. (NYSE:IRF) in a report released on Wednesday, TheFlyOnTheWall.com reports. The firm set a “buy” rating on the stock.
In other International Rectifier Corp. news, Director Rochus Vogt sold 12,000 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $23.46, for a total transaction of $281,520.00. Following the completion of the transaction, the director now directly owns 81,393 shares of the company’s stock, valued at approximately $1,909,480. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Shares of International Rectifier Corp. (NYSE:IRF) traded up 0.97% during mid-day trading on Wednesday, hitting $23.91. 622,080 shares of the company’s stock traded hands. International Rectifier Corp. has a one year low of $14.32 and a one year high of $26.74. The stock has a 50-day moving average of $24.15 and a 200-day moving average of $23.30. The company’s market cap is $1.694 billion.
International Rectifier Corp. (NYSE:IRF) last released its earnings data on Wednesday, October 30th. The company reported $0.21 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.14 by $0.07. The company had revenue of $269.80 million for the quarter, compared to the consensus estimate of $265.08 million. During the same quarter last year, the company posted ($0.20) earnings per share. International Rectifier Corp.’s revenue was up 6.9% compared to the same quarter last year. On average, analysts predict that International Rectifier Corp. will post $0.85 earnings per share for the current fiscal year.
A number of other firms have also recently commented on IRF. Analysts at Zacks downgraded shares of International Rectifier Corp. from a “neutral” rating to an “underperform” rating in a research note to investors on Tuesday, October 22nd. They now have a $22.70 price target on the stock. Separately, analysts at Wells Fargo & Co. downgraded shares of International Rectifier Corp. from an “outperform” rating to a “market perform” rating in a research note to investors on Friday, October 18th. Finally, analysts at TheStreet upgraded shares of International Rectifier Corp. to a “buy” rating in a research note to investors on Wednesday, September 18th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $23.93.
International Rectifier Corporation (NYSE:IRF) designs, manufactures and markets power management semiconductors.
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