ANADIGICS Stock Rating Upgraded by Zacks (ANAD)

ANADIGICS (NASDAQ:ANAD) was upgraded by Zacks from a “sell” rating to a “hold” rating in a research note issued on Tuesday, Market Beat.com reports.

According to Zacks, “Anadigics continued to be in the red and reported a loss yet again in the second quarter of 2015. The adjusted loss of $0.06 per share matched exactly with the Zacks Consensus Estimate. However, the management offered a grim outlook for the next quarter. Also, high cash burn remains a concern and the company is not expected to return to profitability before 2017. Higher concentration risks and foreign exchange rate volatility also remain headwinds for the company. However, Anadigics is continuing with its corporate restructuring activities to reduce operating costs and better align resources for higher demand of infrastructure-based products. Gross margin is expected to improve in the long term as the company completes the transition from legacy to new products.”

Other equities research analysts also recently issued reports about the stock. Lake Street Capital downgraded shares of ANADIGICS from a “buy” rating to a “hold” rating and decreased their price target for the stock from $2.00 to $0.50 in a research note on Friday, August 7th. Craig Hallum cut their target price on shares of ANADIGICS from $1.00 to $0.50 and set a “hold” rating on the stock in a report on Friday, August 7th.

ANADIGICS (NASDAQ:ANAD) traded down 9.2788% during midday trading on Tuesday, hitting $0.2239. 917,623 shares of the stock were exchanged. ANADIGICS has a 1-year low of $0.19 and a 1-year high of $1.55. The company’s 50 day moving average is $0.33 and its 200-day moving average is $0.81. The stock’s market cap is $19.75 million.

ANADIGICS (NASDAQ:ANAD) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.05). The firm earned $15.80 million during the quarter, compared to analysts’ expectations of $16.14 million. During the same period in the previous year, the company posted ($0.09) earnings per share. The company’s quarterly revenue was down 32.1% compared to the same quarter last year. On average, analysts expect that ANADIGICS will post ($0.22) earnings per share for the current year.

ANADIGICS, Inc. is engaged in the designing and manufacturing of radio frequency (NASDAQ:ANAD) semiconductor solutions for infrastructure and mobile communications and data transmission markets. The Company’s product portfolio includes line amplifiers, reverse path amplifiers, power amplifiers (PAs) and front-end integrated circuits (FEIC). The Company designs, develops, and manufactures RFIC’s primarily using GaAs compound semiconductor substrates with various process technologies, including metal semiconductor field effect transistor (MESFET), pseudomorphic high-electron-mobility transistor (pHEMT) and heterojunction bipolar transistor (HBT). The Company’s InGaP-Plus technology, combines InGaP HBT and pHEMT processes on a single substrate and integrates the PA function and the RF active switch function on the same die. Additionally, the Company offers VCSEL process technology. The Company fabricates its ICs in its six-inch diameter GaAs wafer fabrication facility.