Zacks Investment Research lowered shares of Extreme Networks (NASDAQ:EXTR) from a buy rating to a hold rating in a report released on Tuesday.

According to Zacks, “Extreme Networks, Inc. is a leading provider of a next generation of switching solutions that meet the increasing needs of enterprise local area networks internet service providers and content providers. The key advantages of its Layer 3 switching solutions are increased performance, the ability to easily grow in size as customer needs change, flexible allocation of network resources, ease of use and lower cost of ownership. These advantages are obtained through the use of custom semiconductors, known as ASICs, in its products and through hardware and software designs. “

EXTR has been the topic of a number of other reports. ValuEngine downgraded shares of Extreme Networks from a buy rating to a hold rating in a research report on Friday, December 1st. Cowen initiated coverage on shares of Extreme Networks in a research report on Wednesday, December 20th. They issued an outperform rating and a $16.00 price target on the stock. JMP Securities initiated coverage on shares of Extreme Networks in a research report on Wednesday, January 3rd. They issued an outperform rating and a $16.00 price target on the stock. Craig Hallum restated a buy rating and issued a $17.00 price target (up from $12.50) on shares of Extreme Networks in a research report on Wednesday, November 8th. Finally, Needham & Company LLC restated a buy rating on shares of Extreme Networks in a research report on Friday, November 10th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $14.17.

Shares of Extreme Networks (EXTR) traded up $0.36 during mid-day trading on Tuesday, reaching $13.16. 1,612,500 shares of the company’s stock traded hands, compared to its average volume of 1,676,613. The firm has a market cap of $1,500.00, a price-to-earnings ratio of 658.00, a P/E/G ratio of 1.31 and a beta of 1.14. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.09 and a current ratio of 1.31. Extreme Networks has a 52 week low of $5.22 and a 52 week high of $14.34.

Extreme Networks (NASDAQ:EXTR) last posted its quarterly earnings results on Tuesday, November 7th. The technology company reported $0.16 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.02. Extreme Networks had a net margin of 0.34% and a return on equity of 46.58%. The company had revenue of $211.72 million for the quarter, compared to the consensus estimate of $203.86 million. During the same period last year, the firm posted $0.07 EPS. The company’s revenue for the quarter was up 72.5% on a year-over-year basis. equities research analysts predict that Extreme Networks will post 0.6 earnings per share for the current fiscal year.

In related news, Director Charles Carinalli sold 20,000 shares of Extreme Networks stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $12.91, for a total value of $258,200.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Raj Khanna sold 10,000 shares of Extreme Networks stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $13.81, for a total transaction of $138,100.00. Following the completion of the sale, the director now owns 99,523 shares in the company, valued at $1,374,412.63. The disclosure for this sale can be found here. Company insiders own 1.90% of the company’s stock.

A number of large investors have recently modified their holdings of EXTR. PNC Financial Services Group Inc. bought a new stake in Extreme Networks in the 2nd quarter valued at about $101,000. BlueCrest Capital Management Ltd bought a new stake in Extreme Networks in the 2nd quarter valued at about $116,000. SG Americas Securities LLC bought a new stake in Extreme Networks in the 3rd quarter valued at about $116,000. Ameritas Investment Partners Inc. lifted its position in Extreme Networks by 13.0% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 13,584 shares of the technology company’s stock valued at $124,000 after purchasing an additional 1,565 shares during the last quarter. Finally, Amalgamated Bank lifted its position in Extreme Networks by 10.9% in the 2nd quarter. Amalgamated Bank now owns 14,049 shares of the technology company’s stock valued at $130,000 after purchasing an additional 1,378 shares during the last quarter. Hedge funds and other institutional investors own 80.87% of the company’s stock.

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About Extreme Networks

Extreme Networks, Inc is a provider of network infrastructure equipment. The Company markets its products to business, governmental, healthcare, service provider and educational customers with a focus on corporate enterprises and metropolitan service providers on a global basis. The Company operates through the development and marketing of network infrastructure equipment segment.

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