StockNews.com Begins Coverage on Eltek (NASDAQ:ELTK)

StockNews.com started coverage on shares of Eltek (NASDAQ:ELTK - Free Report) in a research note published on Friday morning. The firm issued a hold rating on the technology company's stock.

Eltek Price Performance

Shares of NASDAQ ELTK traded up $0.10 during mid-day trading on Friday, reaching $10.00. 11,387 shares of the company traded hands, compared to its average volume of 21,001. Eltek has a fifty-two week low of $7.65 and a fifty-two week high of $12.47. The firm has a market cap of $67.14 million, a PE ratio of 11.76 and a beta of 0.57. The stock has a fifty day simple moving average of $8.87 and a 200-day simple moving average of $10.27.

Eltek (NASDAQ:ELTK - Get Free Report) last posted its quarterly earnings data on Tuesday, May 20th. The technology company reported $0.15 EPS for the quarter. Eltek had a net margin of 11.51% and a return on equity of 15.49%. The business had revenue of $12.76 million for the quarter. As a group, analysts predict that Eltek will post 0.87 EPS for the current fiscal year.

Eltek Announces Dividend

The business also recently disclosed a -- dividend, which was paid on Tuesday, April 29th. Investors of record on Tuesday, April 22nd were paid a dividend of $0.19 per share. The ex-dividend date of this dividend was Tuesday, April 22nd. Eltek's dividend payout ratio is presently 30.16%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ELTK. Yelin Lapidot Holdings Management Ltd. grew its position in Eltek by 206.7% in the fourth quarter. Yelin Lapidot Holdings Management Ltd. now owns 209,024 shares of the technology company's stock worth $2,312,000 after buying an additional 140,868 shares during the last quarter. Northern Trust Corp acquired a new position in Eltek in the fourth quarter worth approximately $405,000. Finally, Essex Investment Management Co. LLC acquired a new position in Eltek in the fourth quarter worth approximately $99,000. Institutional investors and hedge funds own 64.58% of the company's stock.

Eltek Company Profile

Eltek Ltd. manufactures, markets, and sells printed circuit boards (PCBs) in Israel, Europe, North America, India, the Netherlands, and internationally. It offers a range of custom designed PCBs, including rigid, double-sided and multi-layer PCBs, and flexible circuitry boards. The company also provides high density interconnect, flex-rigid, and multi-layered boards.