TranSwitch (TXCC) has been initiated today with coverage from the securities research analysts at Needham. Needham begins this new coverage of TXCC with an initial price target set at $4 dollars and placed a “buy” rating on TCXX. Shares gapped to the upside today as the normal market session began, TXCC has yet to trend underneath Wednesday’s close for now.
Representatives of TransSwitch are scheduled to attend a variety of conference this year. On September 11th, 2011, TranSwitch is scheduled to make an appearance at the Rodman and Renshaw Annual Global Investment Conference. Following on November 6th, 2011, TranSwitch is expected to attend the AeA Classic Financial Conference.
TranSwitch is slated to release their next earnings report on July 28th, 2011 and the current EPS consensus is estimated to yield a negative 9 cents. Their last earnings report was released on May 4th, 2011 and announced negative EPS of 10 cents with revenue totaling $8.2 million which was up down -18.8 % year to year. TXCC is currently trading between its 50 & 200-day moving averages and 2011 is an up year for the company.
The company has market capitalization of $81,134,130 and 23,793,000 shares outstanding. TXCC has a 52-week high of $5.50 with the low being $1.94 dollars.