Akoustis Technologies (NASDAQ:AKTS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday, Zacks.com reports.
According to Zacks, “Akoustis Technologies, Inc. is a semiconductor designer and manufacturer of radio frequency resonators and filters which facilitate signal acquisition and accelerate band performance between the antenna and the back end of mobile devices. The company’s patent-pending Bulk ONE(TM) technology produces single crystal, piezoelectric bulk acoustic wave filters. Akoustis Technologies, Inc. is headquartered in Huntersville, North Carolina. “
AKTS has been the subject of a number of other reports. Craig Hallum reiterated a “buy” rating and issued a $10.00 price target (up from $8.00) on shares of Akoustis Technologies in a research note on Tuesday, February 5th. Northland Securities lowered shares of Akoustis Technologies from an “outperform” rating to a “market perform” rating in a research note on Tuesday, February 5th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company. Akoustis Technologies presently has a consensus rating of “Buy” and a consensus target price of $10.14.
In related news, Director Steven Denbaars sold 7,000 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $6.58, for a total transaction of $46,060.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 11,500 shares of company stock valued at $74,550 over the last 90 days. 22.60% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in AKTS. BlackRock Inc. increased its stake in Akoustis Technologies by 4.2% in the fourth quarter. BlackRock Inc. now owns 41,547 shares of the technology company’s stock valued at $206,000 after acquiring an additional 1,681 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in Akoustis Technologies by 26.3% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 16,800 shares of the technology company’s stock valued at $83,000 after acquiring an additional 3,500 shares during the last quarter. IHT Wealth Management LLC increased its stake in Akoustis Technologies by 25.5% in the fourth quarter. IHT Wealth Management LLC now owns 19,181 shares of the technology company’s stock valued at $95,000 after acquiring an additional 3,900 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its stake in Akoustis Technologies by 16.7% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 50,400 shares of the technology company’s stock valued at $250,000 after acquiring an additional 7,200 shares during the last quarter. Finally, Jefferies Group LLC bought a new position in Akoustis Technologies in the first quarter valued at approximately $67,000. Institutional investors own 21.12% of the company’s stock.
Akoustis Technologies Company Profile
Akoustis Technologies, Inc, through its subsidiary, Akoustis, Inc, develops, designs, manufactures, and sells radio frequency (RF) filter products for the mobile wireless device industries in the United States. The company operates through two segments, Foundry Fabrication Services and RF Filters. The Foundry Fabrication Services segment provides engineering review services; and smart systems technology and commercialization center foundry, as well as manufacturing and microelectromechanical systems foundry services.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Akoustis Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Akoustis Technologies and related companies with MarketBeat.com's FREE daily email newsletter.