First Trust Advisors LP reduced its stake in Ixia (NASDAQ:XXIA) by 40.2% during the second quarter, Holdings Channel reports. The fund owned 20,260 shares of the company’s stock after selling 13,647 shares during the period. First Trust Advisors LP’s holdings in Ixia were worth $199,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Institutional Trust Company N.A. raised its position in shares of Ixia by 6.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,263,830 shares of the company’s stock worth $28,207,000 after buying an additional 135,542 shares in the last quarter. HBK Investments L P raised its position in shares of Ixia by 14.9% in the first quarter. HBK Investments L P now owns 49,400 shares of the company’s stock worth $616,000 after buying an additional 6,400 shares in the last quarter. California State Teachers Retirement System raised its position in shares of Ixia by 4.8% in the second quarter. California State Teachers Retirement System now owns 134,578 shares of the company’s stock worth $1,322,000 after buying an additional 6,141 shares in the last quarter. Royce & Associates LP raised its position in shares of Ixia by 224.6% in the first quarter. Royce & Associates LP now owns 166,200 shares of the company’s stock worth $2,071,000 after buying an additional 115,000 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its position in shares of Ixia by 35.2% in the first quarter. Jacobs Levy Equity Management Inc. now owns 257,444 shares of the company’s stock worth $3,208,000 after buying an additional 67,073 shares in the last quarter. 61.87% of the stock is currently owned by institutional investors.
Shares of Ixia (NASDAQ:XXIA) traded down 0.42% during mid-day trading on Tuesday, hitting $11.99. The company’s stock had a trading volume of 19,673 shares. The company has a market cap of $974.88 million, a price-to-earnings ratio of 112.06 and a beta of 1.34. The company has a 50-day moving average of $12.02 and a 200 day moving average of $10.97. Ixia has a 1-year low of $8.50 and a 1-year high of $15.06.
Ixia (NASDAQ:XXIA) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.11. The company had revenue of $120.10 million for the quarter, compared to analyst estimates of $114.12 million. Ixia had a return on equity of 7.77% and a net margin of 1.73%. The company’s quarterly revenue was down 8.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.19 earnings per share. On average, analysts expect that Ixia will post $0.55 EPS for the current year.
A number of analysts have issued reports on the company. Stifel Nicolaus raised Ixia from a “hold” rating to a “buy” rating and set a $14.00 target price on the stock in a report on Monday, July 25th. Zacks Investment Research raised Ixia from a “sell” rating to a “hold” rating in a report on Thursday, June 30th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $13.58.
In related news, VP Walker H. Colston II sold 22,500 shares of the company’s stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $11.72, for a total transaction of $263,700.00. Following the sale, the vice president now owns 38,262 shares in the company, valued at $448,430.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Matthew S. Alexander sold 10,644 shares of the company’s stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $11.99, for a total value of $127,621.56. Following the sale, the insider now owns 38,272 shares in the company, valued at approximately $458,881.28. The disclosure for this sale can be found here. 24.40% of the stock is owned by insiders.
Ixia Company Profile
Ixia is a provider of physical and virtual network application performance and security resilience solutions. The Company’s product solutions consist of its hardware platforms, software applications and services, including warranty and maintenance offerings and professional services. The Company helps its customers to validate the performance and security resilience of their applications and networks.
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