BlackRock Inc. Acquires New Shares in inTEST Co. $INTT

Key Points

• BlackRock acquired 936,047 shares of inTEST during the second quarter, valued at approximately $17.0 million and representing about 7.45% of the company.
• Institutional investors own 63.18% of inTEST, with Royce & Associates, Vanguard, Ameriprise Financial, Dimensional Fund Advisors and Geode Capital among the notable holders.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $17.00, although inTEST recently traded at $10.85 and received a ratings downgrade from Zacks Research.

BlackRock Inc. acquired a new position in shares of inTEST Co. (NYSE:INTT - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 936,047 shares of the company's stock, valued at approximately $17,008,000. BlackRock Inc. owned about 7.45% of inTEST as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Royce & Associates LP increased its stake in shares of inTEST by 7.3% in the fourth quarter. Royce & Associates LP now owns 1,555,020 shares of the company's stock valued at $11,616,000 after buying an additional 106,222 shares during the period. Vanguard Group Inc. increased its position in inTEST by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 765,302 shares of the company's stock valued at $5,977,000 after acquiring an additional 11,561 shares during the period. Ameriprise Financial Inc. raised its stake in shares of inTEST by 0.6% during the second quarter. Ameriprise Financial Inc. now owns 517,962 shares of the company's stock valued at $3,771,000 after acquiring an additional 2,907 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of inTEST by 0.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 487,984 shares of the company's stock worth $3,645,000 after purchasing an additional 1,999 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of inTEST by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 126,537 shares of the company's stock worth $945,000 after purchasing an additional 3,333 shares during the last quarter. 63.18% of the stock is currently owned by institutional investors.

inTEST Stock Up 0.3%

inTEST stock opened at $10.85 on Friday. The company has a market capitalization of $139.16 million, a PE ratio of 47.18 and a beta of 1.52. inTEST Co. has a 12-month low of $6.86 and a 12-month high of $20.00. The firm's fifty day moving average is $13.64 and its 200 day moving average is $14.80. The company has a quick ratio of 1.38, a current ratio of 2.26 and a debt-to-equity ratio of 0.08.

Analysts Set New Price Targets

Several research analysts recently issued reports on INTT shares. Zacks Research lowered inTEST from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, June 3rd. Northland Securities upgraded inTEST from a "market perform" rating to an "outperform" rating and set a $15.00 price objective for the company in a research report on Monday, August 3rd. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, inTEST currently has a consensus rating of "Moderate Buy" and an average price target of $17.00.

About inTEST

inTEST Corporation NYSE: INTT is a developer and manufacturer of precision instrumentation and test solutions designed for the semiconductor, microelectronics and related manufacturing industries. The company's offerings focus on thermal management and instrument interface technologies that support the environmental conditioning and electrical performance evaluation of devices under test. These solutions include temperature controllers and cyclers, thermal subsystems, load boards, connectors and custom test interfaces engineered to accelerate reliability testing, product qualification and high-volume production measurement.

Serving customers across North America, Europe and Asia, inTEST supports semiconductor fabs, assembly and packaging facilities, research laboratories and OEM equipment builders.

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