Monday, FBR Capital Markets reiterated its Outperform rating on Applied Signal Technology (APSG) and maintains $26 price target. The brokerage said the company's Q4 results were in line their expectations on top line, but exceeded expectation on earnings per share. EPS came in at $0.27 as against the firm's expectation of $0.23 and the firm said APSG is continuing its multi-quarter turnaround in margins and new business.
FBR said the company's cost savings initiatives, such as a lower employee-related expenses and greater royalties associated with the licensing of intellectual property for broadband uses drove margin expansion. Further, the firm said the company's order flow outlook is strong, with $69.5 million in the quarter (1.28x book-to-bill) that was higher than their expectations. Orders were up 75% compared to last year and reflect strong demand for sensor systems and broadband communications, the brokerage noted.
As such, FBR established 2010 estimates with revenue growth at 8.5% to $220 million and EPS at $1.20.
On Friday, the stock closed at $19.65.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.