LTX-Credence Stock Gaps Down On Today's Open (LTXC)

NEW YORK ( TheStreet) -- Shares of LTX-Credence Corporation (Nasdaq: LTXC) were gapping down Wednesday morning with an open price 13.8% lower than Tuesday's closing price. The stock closed at $6.61 Tuesday and opened today's trading at $5.70.

The average volume for LTX-Credence has been 493,800 shares per day over the past 30 days. LTX-Credence has a market cap of $322.4 million and is part of the technology sector and electronics industry. Shares are down 10.7% year to date as of the close of trading on Tuesday.

LTX-Credence Corporation engages in the design, manufacture, marketing, and servicing of automated test equipment solutions for the wireless, computing, automotive, and digital consumer markets. The company has a P/E ratio of 5.2, equal to the average electronics industry P/E ratio and below the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates LTX-Credence as a hold. The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, compelling growth in net income and revenue growth. However, as a counter to these strengths, we find that the stock has had a generally disappointing performance in the past year. You can view the full LTX-Credence Ratings Report.

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