Broadcom named strategic vendor for Walmart virtualization solutions
Richard N. Grant Jr., President and CEO of inTEST Corp (NYSE:INTT), recently sold shares valued at $29,069. The transactions took place over two consecutive days, with shares sold at prices ranging from $7.48 to $7.57. The current share price represents a significant discount from the 52-week high of $14.35, though the company maintains strong fundamentals with a healthy current ratio of 2.47. According to InvestingPro analysis, the company has demonstrated profitability over the last twelve months with an EPS of $0.24. Following these sales, Grant retains ownership of 161,057 shares in the company. These sales were conducted under a pre-established Rule 10b5-1 trading plan, which allows insiders to set up a predetermined schedule for selling company stock to avoid potential conflicts of interest. Despite recent market volatility, inTEST has maintained steady growth with revenue increasing by 6% over the last twelve months. InvestingPro subscribers can access 7 additional key insights about INTT’s financial health and growth prospects.
In other recent news, inTest Corporation reported its fourth-quarter 2024 earnings, exceeding forecasts with an adjusted earnings per share (EPS) of $0.23, compared to the expected $0.14. The company’s revenue also surpassed expectations, reaching $36.6 million against a forecasted $35.25 million. This performance reflects the company’s successful diversification strategy, particularly in high-growth markets like auto EV, defense, aerospace, and life sciences. For 2025, inTest projects revenue between $125 million and $135 million, with a cautious outlook on profitability improvement. The company also anticipates first-quarter 2025 revenue to range from $27 million to $29 million, amid market uncertainties and potential tariff impacts. Analysts from Northland Securities and Oak Ridge Financial expressed interest in the company’s strategic direction and potential acquisitions. CEO Nick Grant emphasized inTest’s focus on innovation and market diversification, while CFO Duncan Gilmore highlighted the company’s solid cash flow and debt management. InTest remains active in exploring mergers and acquisitions as part of its growth strategy.
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