Actuate Corporation (BIRT) shares spiked more than 87% Friday morning after the company said OpenText (OTEX) has signed an agreement to acquire Actuate for $6.60 per share in cash for a total equity value of $330 million, less Actuate’s cash, for an enterprise value of $272 million. OpenText said it will fund the acquisition with cash on hand.
Actuate Corporation gained $3.06 to $6.56 in mid-day trading today. Approximately 8.18M shares have already changed hands, compared to the stock’s average daily volume of 198.64K shares.
On valuation-measures, shares of Actuate Corporation have a P/E to growth ratio of 20.59 and a t-12 profit margin of (6.05%). EPS registers at ($0.14). The company has a market cap of $304.18M and a median Wall Street price target of $5.88 with a high target of $7.00.
On trading-measure, BIRT has a beta of 1.05 and a short float of 2.97%. In the past 52 weeks, shares of San Mateo, California-based software solutions provider to corporate and government customers have traded between a low of $3.29 and a high of $8.08 with the 50-day MA and 200-day MA located at $3.89 and $4.26 levels, respectively.
BIRT currently prints a one year loss of about 17% and a year-to-date loss of around 15%.
Shares of Silicon Image, Inc. (SIMG) are up almost 13% to $6.76 in mid-day trading Friday after the company announced that Qualcomm Technologies (QCOM) has made a $7 million strategic investment in Silicon Image’s new subsidiary, Qterics, for a 7% ownership interest. In addition to the investment, Silicon Image said that together with Qualcomm will explore opportunities to collaborate on promoting the AllJoyn open source software framework and developing new Internet of Everything (IoE) services.
Silicon Image, currently valued at $523.39M, has a median Wall Street price target of $6.25 with a high target of $7.00.
In the past 52 weeks, shares of video, audio, and data connectivity solutions provider have traded between a low of $4.10 and a high of $7.16 with the 50-day MA and 200-day MA located at $5.22 and $5.07 levels, respectively. Additionally, shares of SIMG trade at a P/E ratio of 1.06 and have a Relative Strength Index (RSI) and MACD indicator of 82.63 and +0.54, respectively.
SIMG currently prints a one year return of about 25.41% and a year-to-date gain of 10.73%.
Tesla Motors (TSLA) – The name’s slide today seems tied to Volkswagen buying a stake in battery startup QuantumScape Corp.
According to a Bloomberg report, developing technology that can more than triple the range of Volkswagen’s electric cars could help the automaker gain a technological edge over Tesla.
“I see great potential in this new technology, possibly boosting the range to as much as 700 kilometers (430 miles),” VW CEO Martin Winterkorn said in a Nov. 6 speech at Stanford University in California. That’s more than three times the range of the battery-powered version of the VW Golf. Tesla’s Model S has a range of 265 miles, according to its website.
On valuation measures, Tesla Motors shares have a PEG and forward P/E ratio of 4.56 and 77.35, respectively. Price/Sales for the same period is 10.02, while EPS is ($1.64). Currently there are 11 analysts that rate TSLA a ‘Buy’, 5 rate it a ‘Hold’. No analysts rates it a ‘Sell’. TSLA has a median Wall Street price target of $300.00 with a high target of $400.00.
Shares of Palo Alto, California-based electric car maker have risen 59.67% year-over-year and 49.11% year-to-date. TSLA lost $4.08 to $224.56 in recent trading.
Apple Inc. (AAPL) – According to Quantcast data cited by Piper Jaffray’s Gene Munster, Apple’s iOS mobile traffic share increased from 60.6% at iPhone 6 launch to 61.4% nine weeks after launch. Meanwhile, Google’s (GOOG) Android decreased from 38.4% to 37.5% in the same period. Munster views the iOS mobile traffic share as further evidence that the iPhone 6 launch in the U.S. is off to a strong start.
The analyst reiterated an ‘Overweight’ rating with a $135 price target.
Apple Inc. shares are currently priced at 17.98x this year’s forecasted earnings compared to the industry’s 25.60x earnings multiple. Ticker has a PEG and forward P/E ratio of 1.30 and 13.57, respectively. Price/Sales for the same period is 3.71, while EPS is $6.45. Currently there are 33 analysts that rate AAPL a ‘Buy’, 11 rate it a ‘Hold’. 2 analysts rate it a ‘Sell’. AAPL has a median Wall Street price target of $120.00 with a high target of $150.00.
In the past 52 weeks, shares of Cupertino, Calif.-based tech giant have traded between a low of $70.51 and a high of $119.75 and are now at $115.96. Shares are up 46.10% year-over-year and 47.14% year-to-date.
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