Akoustis Technologies (AKTS) Makes Majority Investment in RFM Integrated Devices - Roth Capital

Roth Capital analyst Suji Desilva reiterated a Buy rating and $16.00 price target on Akoustis Technologies (NASDAQ: AKTS) after the company announced the acquisition of a majority stake in RFM Integrated Devices, a privately-held supplier of resonator and filter catalog products. The company should see incremental December quarter revenue of $500k-$1.0m and paid consideration of $6M cash and $2.5M stock for 51% of RFMi. AKTS retains the right to acquire the remaining 49% in the CY22 timeframe.

The analyst stated "We expect this acquisition to open new end markets, bolster new AKTS’ timing product offerings and address lower frequency filters addressed by acquired SAW products."

For an analyst ratings summary and ratings history on Akoustis Technologies click here. For more ratings news on Akoustis Technologies click here.

Shares of Akoustis Technologies closed at $8.23 yesterday.

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