D. Boral Capital Begins Coverage on Trio-Tech International (NYSE:TRT)

Key Points

• D. Boral Capital initiated coverage of Trio-Tech International with a “buy” rating and a $17 price target, implying potential upside of 169.63% from the stock’s reported $6.30 price.
• Trio-Tech shares rose 1.4% in Monday trading, while the company had a $65.4 million market capitalization, a 45.0 P/E ratio, and traded well below its 52-week high of $21.38.
• Institutional ownership stands at 16.03%, with several investors—including Renaissance Technologies, Dimensional Fund Advisors, and Compound Planning—substantially increasing their stakes during the year.

Analysts at D. Boral Capital initiated coverage on shares of Trio-Tech International (NYSE:TRT - Get Free Report) in a research note issued on Monday, Benzinga reports. The firm set a "buy" rating and a $17.00 price target on the stock. D. Boral Capital's price objective points to a potential upside of 169.63% from the stock's current price.

Trio-Tech International Trading Up 1.4%

Shares of NYSE TRT traded up $0.09 during midday trading on Monday, hitting $6.30. The stock had a trading volume of 216,453 shares, compared to its average volume of 637,540. The company's 50-day simple moving average is $10.39 and its 200 day simple moving average is $10.34. The firm has a market cap of $65.40 million, a P/E ratio of 45.00 and a beta of 1.97. Trio-Tech International has a fifty-two week low of $2.81 and a fifty-two week high of $21.38. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.54 and a quick ratio of 4.25.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in TRT. Renaissance Technologies LLC grew its position in shares of Trio-Tech International by 100.1% during the 1st quarter. Renaissance Technologies LLC now owns 325,526 shares of the company's stock worth $1,882,000 after buying an additional 162,848 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Trio-Tech International by 98.4% during the first quarter. Dimensional Fund Advisors LP now owns 243,724 shares of the company's stock worth $1,409,000 after buying an additional 120,888 shares during the last quarter. Compound Planning Inc. lifted its holdings in Trio-Tech International by 85.8% in the first quarter. Compound Planning Inc. now owns 621,500 shares of the company's stock valued at $3,592,000 after buying an additional 287,000 shares during the period. Engineers Gate Manager LP acquired a new position in Trio-Tech International in the second quarter valued at approximately $244,000. Finally, Corient Private Wealth LP bought a new position in Trio-Tech International in the second quarter valued at approximately $259,000. 16.03% of the stock is currently owned by institutional investors and hedge funds.

Trio-Tech International Company Profile

Trio-Tech International is a semiconductor services and manufacturing company that supports customers involved in the production and testing of electronic components. Its activities include semiconductor testing, burn-in and reliability testing, and the manufacture of equipment and related products used in semiconductor test operations.

The company also provides semiconductor test and assembly services, including electrical testing and other back-end manufacturing processes. Its product offerings have included burn-in systems, test boards, sockets, and other components used to evaluate semiconductor devices and electronic products.

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