Xcerra (XCRA) PT Lifted at Needham & Company

Needham & Company analyst Vernon Essi, Jr. reiterated a Buy rating and bumped his price target on Xcerra Corporation (NASDAQ: XCRA) to $13.00 (from $12.00) following Q3 results.

Essi comments, "LTXC reported its first quarter under the new company name of Xcerra, with AprQ3 revenue above expectations with better than expected EPS. The JulQ3 revenue guide was above consensus while EPS was in line at the midpoint with consensus. Mgmt indicated upward bias in ATE in the RF PA tester platform, the InCarrier handler and flying probe testers for fine pitch substrates. We move our EPS a touch higher and raise our price target from $12 to $13."

The firm is adjusted FY14 Rev/EPS estimate from $314M/($0.03) to $322M/($0.01) and FY15 estimate from $468M/$0.80 to $491M/$0.85. They introduce FY16 Rev/EPS estimate at $487M/$0.80.

For an analyst ratings summary and ratings history on Xcerra Corporation click here. For more ratings news on Xcerra Corporation click here.

Shares of Xcerra Corporation closed at $10.10 yesterday.

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