Weakness Seen in Vitesse Semiconductor (VTSS): Stock Tumbles 11.3%
Vitesse Semiconductor Corp. (VTSS) saw a big move last session, as the company’s shares fell more than 11% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This stock, trading at a volatile range of $3.35–$3.82 in the past one-month time frame, showed a sharp decline yesterday at $3.39.
The company has seen a flat track record when it comes to current year estimate revisions over the past few weeks. The consensus for earnings hasn’t been in a trend either. This recent price action is discouraging, so make sure to keep a close watch on this firm in the near future, and especially on earnings estimates following the recent slump.
VTSS currently has a Zacks Rank #4 (Sell) while its Earnings ESP is zero.
Some better-ranked stocks in the technology sector include Applied Micro Circuits Corporation (AMCC), Avago Technologies Limited (AVGO) and OmniVision Technologies, Inc. (OVTI). All these stocks sport a Zacks Rank #1 (Strong Buy).
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VITESSE SEMICONDUCTOR CORP (VTSS): Free Stock Analysis Report
APPLIED MICRO CIRCUITS CORP (AMCC): Free Stock Analysis Report
AVAGO TECH LTD ORD (AVGO): Free Stock Analysis Report
OMNIVISION TECH INC (OVTI): Free Stock Analysis Report
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