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ATRO

Astronics

$28.50

-0.13 (-0.45%)

06:33
11/14/18
11/14
06:33
11/14/18
06:33

Astronics sells semiconductor test business to Advantest for $185M in cash

Astronics announced it has entered into an agreement for the sale of the intellectual property and certain assets associated with its semiconductor test business to Advantest for $185M in cash. The sale additionally includes a $30M earn-out opportunity based on achieving certain levels of revenue in 2019. Astronics will enter into an agreement with Advantest to continue to manufacture the semiconductor test solutions for Advantest upon closing of the transaction. Approximately 45 personnel from Astronics, primarily in engineering, sales, and program management, will be offered positions with Advantest. The remainder of the Astronics workforce will be unaffected by the transaction. This transaction is subject to clearance under the Hart-Scott-Rodino Antitrust Improvements Act and other customary closing conditions. It is expected to close by the end of the year. Astronics' will continue to operate its aerospace and defense test business and report in two segments.

  • 14

    Nov

ATRO Astronics
$28.50

-0.13 (-0.45%)

05/10/18
ADAM
05/10/18
DOWNGRADE
Target $41
ADAM
Hold
Astronics downgraded to Hold at Canaccord
As reported previously, Canaccord analyst Ken Herbert downgraded Astronics to Hold from Buy. The analyst cited three reasons for his downgrade, including a lower reset of Aerospace margins, limited visibility in the test business, and incremental pressure on pricing as wide-body aircraft face further reductions in build rates. Herbert lowered his price target to $41 from $50 on Astronics shares.
05/10/18
ADAM
05/10/18
DOWNGRADE
ADAM
Hold
Astronics downgraded to Hold from Buy at Canaccord
02/27/18
RHCO
02/27/18
NO CHANGE
Target $39
RHCO
Hold
Astronics price target lowered to $39 from $48 at SunTrust
SunTrust analyst Michael Ciarmoli lowered his price target on Astronics to $39 after its "disappointing" Q4 earnings report, noting that a miss on top and bottom lines and affirmed FY18 outlook suggest that operating margins should trend lower and negate the positive tax impact. Ciarmoli keeps his Hold rating on Astronics, adding that its valuation discount of FY19 PE of 18.4-times relative to peer average of 21-times is warranted due to margin headwinds and FY18 risks.
01/12/18
ADAM
01/12/18
NO CHANGE
Target $48
ADAM
Buy
Astronics revenue inflection not reflected yet in stock, says Canaccord
Canaccord analyst Ken Herbert noted Astronics announced an increase in 2018 revenue guidance with an increase in both its Aerospace and Test businesses. The analyst believes both should be a positive and he said estimates will move higher to reflect the likely tax benefits and will provide an additional tailwind. He does not believe the revenue inflection point has been fully reflected in the stock yet. Herbert reiterated his Buy rating and raised his price target to $48 from $46 on Astronics shares.

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NOVA

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SPY

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3.52 (1.22%)

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KSS

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BHP

BHP Group

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BHP

BHP Group

$49.12

0.31 (0.64%)

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  • 19

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AAPL

Apple

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3.88 (1.88%)

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ACN

Accenture

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2.005 (1.04%)

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BIDU

Baidu

$104.28

7.63 (7.89%)

, NBRV

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MRNA

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IQ

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MRUS

Merus

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SRPT

Sarepta

$120.16

-4.81 (-3.85%)

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ET

Energy Transfer LP

$13.77

0.3 (2.23%)

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AAPL

Apple

$210.32

3.88 (1.88%)

, SNE

Sony

$55.71

-0.01 (-0.02%)

18:20
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Apple

$210.32

3.88 (1.88%)

SNE

Sony

$55.71

-0.01 (-0.02%)

NFLX

Netflix

$309.40

6.66 (2.20%)

DIS

Disney

$135.33

0.14 (0.10%)

T

AT&T

$35.40

0.42 (1.20%)

CBS

CBS

$44.21

0.38 (0.87%)

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  • 20

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  • 23

    Oct

LGIH

LGI Homes

$78.56

3.36 (4.47%)

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AMZN

Amazon.com

$1,816.29

24.47 (1.37%)

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  • 27

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WMT

Walmart

$113.76

0.77 (0.68%)

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  • 15

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X

U.S. Steel

$12.42

1.13 (10.01%)

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  • 23

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SRPT

Sarepta

$120.16

-4.81 (-3.85%)

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  • 19

    Aug

SRPT

Sarepta

$120.16

-4.81 (-3.85%)

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  • 19

    Aug

BSX

Boston Scientific

$42.74

0.59 (1.40%)

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AMZN

Amazon.com

$1,816.29

24.47 (1.37%)

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$1,198.01

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AMZN

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GOOG

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FB

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$186.22

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MSFT

Microsoft

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AAPL

Apple

$210.32

3.88 (1.88%)

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  • 04

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FB

Facebook

$186.22

2.8 (1.53%)

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  • 15

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MPW

Medical Properties Trust

$18.28

0.13 (0.72%)

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  • 19

    Sep

WMT

Walmart

$113.76

0.77 (0.68%)

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  • 15

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MAXR

Maxar Technologies

$6.49

0.185 (2.93%)

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RCI

Rogers Communications

$51.30

0.21 (0.41%)

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IQ

iQIYI

$18.10

1.02 (5.97%)

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  • 19

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IQ

iQIYI

$18.10

1.02 (5.97%)

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  • 19

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