Walthausen & Co. LLC lifted its position in shares of IEC Electronics Corp (NYSE:IEC) by 98.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 158,870 shares of the technology company’s stock after buying an additional 78,870 shares during the quarter. Walthausen & Co. LLC owned about 1.54% of IEC Electronics Corp worth $572,000 at the end of the most recent reporting period.
Separately, Punch & Associates Investment Management Inc. increased its position in shares of IEC Electronics Corp by 17.6% during the second quarter. Punch & Associates Investment Management Inc. now owns 321,200 shares of the technology company’s stock worth $1,156,000 after buying an additional 48,000 shares during the period.
IEC Electronics Corp (NYSE:IEC) last released its earnings results on Wednesday, August 9th. The technology company reported $0.08 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.07. The firm had revenue of $26.49 million for the quarter, compared to the consensus estimate of $26.00 million. IEC Electronics Corp had a net margin of 3.04% and a return on equity of 24.24%.
A number of research firms have commented on IEC. Noble Financial restated a “buy” rating on shares of IEC Electronics Corp in a report on Saturday, July 1st. ValuEngine upgraded shares of IEC Electronics Corp from a “sell” rating to a “hold” rating in a report on Wednesday, September 20th. Zacks Investment Research cut shares of IEC Electronics Corp from a “strong-buy” rating to a “hold” rating in a report on Wednesday. Finally, Maxim Group began coverage on shares of IEC Electronics Corp in a report on Thursday, August 17th. They issued a “buy” rating and a $7.00 price target for the company. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. IEC Electronics Corp has a consensus rating of “Hold” and a consensus price target of $4.82.
IEC Electronics Corp Company Profile
IEC Electronics Corp. provides electronic manufacturing services (EMS) to a range of technology companies that produce life-saving and mission critical products for the medical, industrial, aerospace and defense sectors. The Company specializes in delivering technical solutions for the custom manufacture of full system assemblies by providing on-site analytical testing laboratories, custom design and test engineering services combined with an array of manufacturing services encompassing electronics, interconnect solutions and precision metalworking.
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