Granahan Investment Management LLC Cuts Stake in Rogers Co. (NYSE:ROG)

Granahan Investment Management LLC decreased its position in Rogers Co. (NYSE:ROG - Free Report) by 30.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,145 shares of the electronics maker's stock after selling 8,061 shares during the period. Granahan Investment Management LLC owned about 0.10% of Rogers worth $1,844,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Barclays PLC raised its position in Rogers by 285.5% in the third quarter. Barclays PLC now owns 30,580 shares of the electronics maker's stock worth $3,457,000 after acquiring an additional 22,647 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Rogers by 29.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 77,211 shares of the electronics maker's stock worth $8,726,000 after purchasing an additional 17,648 shares during the period. Procyon Advisors LLC increased its holdings in shares of Rogers by 11.9% in the 4th quarter. Procyon Advisors LLC now owns 3,108 shares of the electronics maker's stock valued at $316,000 after purchasing an additional 331 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Rogers in the fourth quarter valued at about $286,000. Finally, Inspire Investing LLC boosted its holdings in Rogers by 5.7% during the fourth quarter. Inspire Investing LLC now owns 4,327 shares of the electronics maker's stock worth $440,000 after buying an additional 232 shares in the last quarter. 96.02% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Rogers

In related news, VP Griffin Melaney Gappert sold 756 shares of the stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $62.55, for a total transaction of $47,287.80. Following the sale, the vice president now owns 4,484 shares of the company's stock, valued at $280,474.20. This trade represents a 14.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.35% of the company's stock.

Analysts Set New Price Targets

Several brokerages have weighed in on ROG. B. Riley upped their target price on shares of Rogers from $80.00 to $85.00 and gave the stock a "buy" rating in a research report on Wednesday, April 30th. CL King began coverage on Rogers in a report on Monday, March 31st. They issued a "buy" rating and a $85.00 price target on the stock.

Rogers Trading Up 0.3%

Shares of ROG stock traded up $0.20 during mid-day trading on Friday, reaching $69.97. The stock had a trading volume of 53,155 shares, compared to its average volume of 177,636. The company has a market cap of $1.30 billion, a P/E ratio of 49.63 and a beta of 0.41. Rogers Co. has a 12-month low of $51.43 and a 12-month high of $134.07. The business has a 50-day simple moving average of $64.60 and a 200 day simple moving average of $86.06.

Rogers (NYSE:ROG - Get Free Report) last posted its earnings results on Tuesday, April 29th. The electronics maker reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.03. The firm had revenue of $190.50 million during the quarter, compared to the consensus estimate of $187.50 million. Rogers had a net margin of 3.14% and a return on equity of 3.98%. Research analysts anticipate that Rogers Co. will post 3.57 EPS for the current year.

Rogers Company Profile

Rogers Corporation engages in the design, development, manufacture, and sale of engineered materials and components worldwide. It operates through Advanced Electronics Solutions (AES), Elastomeric Material Solutions (EMS), and Other segments. The AES segment offers circuit materials, ceramic substrate materials, busbars, and cooling solutions for applications in electric and hybrid electric vehicles (EV/HEV), wireless infrastructure, automotive, renewable energy, aerospace and defense, mass transit, industrial, connected devices, and wired infrastructure.