Nierenberg Investment Management Company, Inc.
revealed that they own 4.1% of RadiSys Corporation (NASDAQ:RSYS) in a Schedule 13D/A disclosure that was filed with the Securities and Exchange Commission on Wednesday, July 19th. The investor owns 1,589,653 shares of the stock worth approximately $3,799,271. The reporting parties listed on the disclosure included The D3 Family Fund, LP, The D3 Family Bulldog Fund, LP, The DIII Offshore Fund, LP, Nierenberg Investment Management Company, Inc, Nierenberg Investment Management Offshore, Inc and David Nierenberg. The disclosure is available through Edgar at this hyperlink.
Nierenberg Investment Management Company, Inc.
provided the following explanation of their ownership:
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A number of other hedge funds have also bought and sold shares of the company. AXA purchased a new stake in shares of RadiSys Corporation during the first quarter worth $383,000. S Squared Technology LLC boosted its stake in shares of RadiSys Corporation by 2,969.0% in the first quarter. S Squared Technology LLC now owns 306,902 shares of the technology company’s stock worth $1,228,000 after buying an additional 296,902 shares during the last quarter. Pacific Ridge Capital Partners LLC boosted its position in RadiSys Corporation by 27.4% in the first quarter. Pacific Ridge Capital Partners LLC now owns 1,717,437 shares of the technology company’s stock valued at $6,870,000 after buying an additional 369,827 shares during the last quarter. Great Lakes Advisors LLC bought a new position in RadiSys Corporation during the first quarter valued at approximately $2,362,000. Finally, Paradigm Capital Management Inc. NY boosted its position in RadiSys Corporation by 27.6% in the first quarter. Paradigm Capital Management Inc. NY now owns 2,363,313 shares of the technology company’s stock valued at $9,453,000 after buying an additional 511,113 shares during the last quarter. 58.47% of the stock is owned by institutional investors.
RadiSys Corporation (NASDAQ RSYS) traded up 1.27% during midday trading on Friday, hitting $2.39. 374,897 shares of the stock traded hands. The firm’s 50 day moving average is $3.26 and its 200-day moving average is $3.83. RadiSys Corporation has a 12-month low of $2.28 and a 12-month high of $5.81. The stock’s market capitalization is $93.04 million.
RadiSys Corporation (NASDAQ:RSYS) last released its quarterly earnings results on Tuesday, May 2nd. The technology company reported ($0.17) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.16) by $0.01. RadiSys Corporation had a negative net margin of 8.88% and a negative return on equity of 3.27%. The firm had revenue of $37.61 million for the quarter, compared to the consensus estimate of $38.59 million. On average, analysts anticipate that RadiSys Corporation will post ($0.08) EPS for the current fiscal year.
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RSYS has been the subject of several research analyst reports. Roth Capital set a $6.00 target price on shares of RadiSys Corporation and gave the company a “buy” rating in a research note on Friday. Jefferies Group LLC reiterated a “buy” rating and set a $6.25 target price (down from $6.75) on shares of RadiSys Corporation in a research note on Tuesday. Needham & Company LLC dropped their price objective on shares of RadiSys Corporation from $5.00 to $4.50 and set a “buy” rating for the company in a research note on Monday, July 10th. Lake Street Capital dropped their price objective on shares of RadiSys Corporation from $5.50 to $4.50 and set a “buy” rating for the company in a research note on Friday, July 7th. Finally, Zacks Investment Research upgraded shares of RadiSys Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, April 27th. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. RadiSys Corporation presently has an average rating of “Buy” and a consensus price target of $5.31.
About RadiSys Corporation
Radisys Corporation (Radisys) is a services acceleration company. The Company’s application aware traffic distribution platforms, real-time media processing products and wireless access technologies enable service providers to virtualize and monetize their networks. The Company’s products and services are organized into two segments: Software-Systems, and Embedded Products and Hardware Services.
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