ANADIGICS Receives Neutral Rating from Zacks (ANAD)

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Zacks reaffirmed their neutral rating on shares of ANADIGICS (NASDAQ:ANAD) in a report issued on Thursday. They currently have a $0.75 target price on the stock.

Zacks’ analyst wrote, “Anadigics’ second quarter 2014 adjusted loss with employee stock option adjustments came in at $0.11 per share, which matched with the Zacks Consensus Estimate. Anadigics expects sequential growth in its wireless segment as new products offset the decline in legacy business. Management also expects gross margin to improve as the company completes the transition from legacy to new products. However, we remain concerned with the cash burn and do not expect the company to return to profitability before 2016. Anadigics continues to be affected by the uncertain economic environment and there appears to be no respite from the weakening demand in the near term. We prefer to remain on the sidelines and retain our Neutral recommendation. “

A number of other analysts have also recently weighed in on ANAD. Analysts at Craig Hallum downgraded shares of ANADIGICS from a buy rating to a hold rating in a research note on Thursday. They now have a $0.75 price target on the stock, down previously from $2.00. Separately, analysts at Needham & Company LLC downgraded shares of ANADIGICS from a buy rating to a hold rating in a research note on Friday, June 27th. They now have a $2.10 price target on the stock. Finally, analysts at Credit Suisse reiterated a hold rating on shares of ANADIGICS in a research note on Wednesday, May 21st. They now have a $2.00 price target on the stock. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the company. The stock has an average rating of Hold and a consensus price target of $1.40.

ANADIGICS (NASDAQ:ANAD) traded up 2.30% on Thursday, hitting $0.6801. 412,027 shares of the company’s stock traded hands. ANADIGICS has a 52-week low of $0.57 and a 52-week high of $2.20. The stock has a 50-day moving average of $0.88 and a 200-day moving average of $1.39. The company’s market cap is $58.2 million.

ANADIGICS (NASDAQ:ANAD) last announced its earnings results on Wednesday, August 6th. The company reported ($0.09) earnings per share for the quarter, meeting the analysts’ consensus estimate of ($0.09). The company had revenue of $23.30 million for the quarter, compared to the consensus estimate of $24.89 million. During the same quarter last year, the company posted ($0.14) earnings per share. ANADIGICS’s revenue was down 32.7% compared to the same quarter last year. On average, analysts predict that ANADIGICS will post $-0.33 earnings per share for the current fiscal year.

ANADIGICS, Inc is a designer and manufacturer of radio frequency (NASDAQ:ANAD) semiconductor solutions for cellular wireless, wireless fidelity (WiFi), and infrastructure applications.

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