According to Zacks, “Methode Electronics, Inc. is a global manufacturer of electronic components and subsystems. Methode designs, manufactures and markets devices employing electrical, electronic, wireless, sensing and optical technologies. Methode’s components are found in the primary end-markets of the automotive, appliance, communications, aerospace, rail and other transportation industries, and the consumer and industrial equipment markets. “
Separately, Craig Hallum upgraded Methode Electronics from a “hold” rating to a “buy” rating and increased their target price for the stock from $25.00 to $42.00 in a research note on Friday, March 8th. Two research analysts have rated the stock with a sell rating and three have issued a buy rating to the company’s stock. Methode Electronics currently has a consensus rating of “Hold” and an average target price of $40.25.
In other Methode Electronics news, CAO Amit N. Patel bought 1,021 shares of Methode Electronics stock in a transaction on Tuesday, March 26th. The shares were acquired at an average price of $27.54 per share, for a total transaction of $28,118.34. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 3.40% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Blueshift Asset Management LLC purchased a new position in shares of Methode Electronics during the fourth quarter valued at $402,000. Squarepoint Ops LLC purchased a new position in shares of Methode Electronics during the fourth quarter valued at $1,044,000. Municipal Employees Retirement System of Michigan purchased a new position in shares of Methode Electronics during the fourth quarter valued at $316,000. Thomson Horstmann & Bryant Inc. increased its stake in shares of Methode Electronics by 503.8% during the fourth quarter. Thomson Horstmann & Bryant Inc. now owns 110,141 shares of the electronics maker’s stock valued at $2,565,000 after buying an additional 91,901 shares during the period. Finally, THB Asset Management increased its stake in shares of Methode Electronics by 151.4% during the first quarter. THB Asset Management now owns 276,942 shares of the electronics maker’s stock valued at $7,970,000 after buying an additional 166,801 shares during the period. Hedge funds and other institutional investors own 92.38% of the company’s stock.
About Methode Electronics
Methode Electronics, Inc designs, manufactures, and markets component and subsystem devices worldwide. The company operates through four segments: Automotive, Interface, Power Products, and Other. The Automotive segment offers electronic and electro-mechanical devices, and related products to automobile original equipment manufacturers directly or through their tiered suppliers.
Featured Article: What is a Real Estate Investment Trust (REIT)?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Methode Electronics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Methode Electronics and related companies with MarketBeat.com's FREE daily email newsletter.