Oppenheimer Remains a Buy on Akoustis Technologies (AKTS)

Oppenheimer analyst Rick Schafer maintained a Buy rating on Akoustis Technologies (AKTSResearch Report) today and set a price target of $10.00. The company’s shares closed last Monday at $4.82.

According to TipRanks.com, Schafer is a top 100 analyst with an average return of 16.1% and a 70.4% success rate. Schafer covers the Consumer Goods sector, focusing on stocks such as Skyworks Solutions, Texas Instruments, and Maxim Integrated.

Currently, the analyst consensus on Akoustis Technologies is a Strong Buy with an average price target of $10.33.

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Based on Akoustis Technologies’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $518K and GAAP net loss of $9.31 million. In comparison, last year the company earned revenue of $323K and had a GAAP net loss of $6.75 million.

Based on the recent corporate insider activity of 35 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of AKTS in relation to earlier this year.

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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. The RF Filters segment includes amplifier and filter product sales, and grant revenue. The company was founded by Jeffrey B. Shealy in 2014 and is headquartered in Huntersville, NC.