CSR PLC (CSRE) soared more than 13 points, or 35 percent, today after a Bloomberg article suggested the U.K. chipmaker may be a possible takeover target by Broadcom Corp. (BRCM) and Texas Instruments (TXN). The move came on a massive volume too. The thinly traded stock saw an unusually high volume Thursday with 101,152 shares changing hands, exceeding by more than 20x its three-month daily average of 5,580 shares.
Analysts at Singular Research raised their price target on the shares of REX American Resources Corporation (REX) to $115 from $99. In a research note to clients on Thursday the brokerage firm noted that while the company’s Q2 results blew away revised estimates, REX needs to acquire or build new ethanol-producing assets in order to drive significant revenue growth from current levels. REX gained as much $7.61, or 7.57%, to $7.18 today, closing at $108.16/share. Singular Research’s target price suggests a potential upside of 6.50% from the company’s current PPS.
Shares of Digital Ally Inc. (DGLY) climbed over 36%/+$4.19 Thursday to a new 11-month high of $15.68, boosted by an order the company received from State Police Of Michigan valued at more than $1.1 million. DGLY rose less than 1 percent to $15.83 in extended hours. The stock is up 70 percent this year.
Signet Jewelers (SIG) was another notable gainer, up as much as 8 points, or 7.72 percent. The spike comes after the company beat revenue estimates. Signet said second-quarter revs jumped 39.3% year-over-year to $1.23 billion versus the $1.05 billion consensus. Earlier today, the retailer was upgraded to ‘Buy’ at Sterne Agee. The firm lifted also their price target on the shares of the luxury jeweler to $135 from $125. Signet’s shares closed at $108.03 yesterday. The firm’s target price suggests a potential upside of about 18% from the company’s current price of $115.17.
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