On March 12, 2024, inTEST Corporation finalized the acquisition of Alfamation S.p.A., a renowned provider of test and measurement solutions across various industries. Alfamation will now be integrated into inTEST’s Electronic Test division, bolstering its automated test offerings and expanding its global market presence.
This strategic acquisition is set to strengthen inTEST’s position in key sectors such as automotive/EV and life sciences, while also increasing exposure in consumer electronics and extending its footprint in Europe. With Alfamation’s reputation for cutting-edge test systems and manufacturing capabilities, the company reported an impressive annual revenue of approximately $25 million in 2023, along with a backlog of around $15 million.
In line with inTEST’s long-term objectives, the acquisition is expected to deliver positive results by 2025 and contribute to a projected revenue increase in 2024, estimated to be within the range of $145 million to $155 million. While there may be an impact on earnings per diluted share in 2024, the acquisition is anticipated to be accretive to non-GAAP adjusted earnings per diluted share due to the associated benefits.
Further details about the acquisition will be discussed during a conference call scheduled for March 13, 2024, as inTEST looks forward to leveraging this strategic move for continued growth and success in the market.
Integrated Device Technology, Inc. (INTT) Stock Analysis and Performance Review – March 12, 2024
On March 12, 2024, the stock performance of Integrated Device Technology, Inc. (INTT) was lackluster as the company’s shares traded near the bottom of its 52-week range and below its 200-day simple moving average. The stock closed at $11.13, marking a decrease of $0.09 or 0.80% since the previous market close.
INTT’s price momentum has been struggling, with the stock trading at lower levels compared to its recent performance. The stock’s price movement indicates a lack of bullish sentiment among investors, as it remains below key technical indicators such as the 200-day moving average.
Despite the drop in share price, INTT did not experience any significant movement in after-hours trading, suggesting that investors were not actively buying or selling the stock after the market closed.
It is important for investors to closely monitor INTT’s performance and consider the factors contributing to its current trading levels. While short-term fluctuations are common in the stock market, understanding the broader market trends and company-specific developments can help investors make informed decisions about their investment strategies.
INTT Stock Analysis: Promising Financial Performance and Growth Potential
On March 12, 2024, INTT stock showed promising performance based on the financial data provided. The company’s total revenue for the past year was $116.83 million, showing a significant increase of 37.64% compared to the previous year. However, the total revenue remained flat since the last quarter at $32.66 million.
Net income for INTT was reported at $8.46 million for the past year, marking a 16.17% increase from the previous year. Additionally, the net income increased by 6.19% since the last quarter, reaching $2.97 million.
Earnings per share (EPS) for INTT stood at $0.78 for the past year, reflecting a 14.75% increase from the previous year. The EPS remained flat since the last quarter at $0.24.
Overall, INTT stock demonstrated strong financial performance with notable increases in total revenue, net income, and EPS compared to the previous year. The company’s ability to maintain steady growth in net income and EPS since the last quarter indicates stability and potential for future growth.
Investors may view INTT stock as a favorable investment option given its consistent financial growth and positive performance indicators. However, it is essential for investors to conduct further research and analysis to make informed investment decisions based on their individual financial goals and risk tolerance.
