Allied Motion Technologies (NASDAQ:AMOT) Upgraded to Hold at BidaskClub

Allied Motion Technologies (NASDAQ:AMOT) was upgraded by investment analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday, June 26th, BidAskClub reports.

Several other equities research analysts have also recently issued reports on AMOT. Zacks Investment Research cut shares of Wix.Com from a “hold” rating to a “sell” rating in a research report on Monday, April 8th. ValuEngine upgraded shares of Yara International ASA from a “sell” rating to a “hold” rating in a research note on Tuesday, March 19th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $57.00.

Shares of NASDAQ AMOT traded up $0.71 during mid-day trading on Wednesday, hitting $39.78. The company had a trading volume of 75,175 shares, compared to its average volume of 53,696. The company has a market cap of $375.45 million, a P/E ratio of 23.44, a PEG ratio of 1.91 and a beta of 1.65. The company has a quick ratio of 1.50, a current ratio of 2.67 and a debt-to-equity ratio of 1.21. Allied Motion Technologies has a one year low of $31.72 and a one year high of $55.47. The company has a 50-day moving average price of $35.71.

Allied Motion Technologies (NASDAQ:AMOT) last issued its earnings results on Wednesday, May 1st. The technology company reported $0.48 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.48. The firm had revenue of $93.90 million for the quarter. Allied Motion Technologies had a return on equity of 16.01% and a net margin of 4.94%. On average, sell-side analysts forecast that Allied Motion Technologies will post 2.05 earnings per share for the current year.

In related news, Director Michael R. Winter purchased 1,400 shares of Allied Motion Technologies stock in a transaction that occurred on Tuesday, May 14th. The shares were acquired at an average price of $35.35 per share, with a total value of $49,490.00. Following the completion of the transaction, the director now directly owns 16,118 shares of the company’s stock, valued at approximately $569,771.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 23.10% of the company’s stock.

Several hedge funds have recently modified their holdings of AMOT. Walthausen & Co. LLC lifted its position in Allied Motion Technologies by 16.3% during the first quarter. Walthausen & Co. LLC now owns 260,417 shares of the technology company’s stock valued at $8,953,000 after buying an additional 36,540 shares during the period. Confluence Investment Management LLC grew its holdings in Allied Motion Technologies by 18.8% in the first quarter. Confluence Investment Management LLC now owns 137,325 shares of the technology company’s stock valued at $4,722,000 after purchasing an additional 21,729 shares during the period. Punch & Associates Investment Management Inc. grew its holdings in Allied Motion Technologies by 20.8% in the first quarter. Punch & Associates Investment Management Inc. now owns 110,970 shares of the technology company’s stock valued at $3,815,000 after purchasing an additional 19,140 shares during the period. Geode Capital Management LLC grew its holdings in Allied Motion Technologies by 21.6% in the fourth quarter. Geode Capital Management LLC now owns 87,406 shares of the technology company’s stock valued at $3,905,000 after purchasing an additional 15,506 shares during the period. Finally, AJO LP grew its holdings in Allied Motion Technologies by 35.0% in the first quarter. AJO LP now owns 78,873 shares of the technology company’s stock valued at $2,712,000 after purchasing an additional 20,441 shares during the period. 50.98% of the stock is currently owned by hedge funds and other institutional investors.

Allied Motion Technologies Company Profile

Allied Motion Technologies, Inc designs, manufactures, and sells precision and specialty motion control components and systems that are used in a range of industries worldwide. It provides automotive brushless (BL) DC motors, power steering solutions, and special purpose motors; fractional horsepower permanent magnet DC and BLDC motors serving a range of original equipment applications; and high performance BLDC motors, including servo motors, frameless motors, torque motors, slot less motors, high resolution encoders, and motor/encoder assemblies.

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