Akoustis Technologies (AKTS) Receives a Rating Update from a Top Analyst

Oppenheimer analyst Rick Schafer maintained a Buy rating on Akoustis Technologies (AKTS) today and set a price target of $10. The company’s shares closed yesterday at $6.58.

According to TipRanks.com, Schafer is a top 100 analyst with an average return of 15.2% and a 70.0% success rate. Schafer covers the Consumer Goods sector, focusing on stocks such as Skyworks Solutions, Texas Instruments, and Maxim Integrated.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Akoustis Technologies with a $9.35 average price target.

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Based on Akoustis Technologies’ latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $6.75 million. In comparison, last year the company had a GAAP net loss of $5.54 million.

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Akoustis Technologies, Inc. is a filter solutions company, which engages in the development, design, and manufacture of radio frequency (RF) filter products. It operates through the Foundry Fabrication Services and RF Filters segments. The Foundry Fabrication Services segment consists of engineering review services and STC-MEMS foundry services.