Eltek (NASDAQ:ELTK) Earns Hold Rating from Analysts at StockNews.com

StockNews.com began coverage on shares of Eltek (NASDAQ:ELTK) in a report issued on Monday. The brokerage issued a hold rating on the technology company’s stock.

Eltek Stock Up 0.2 %

ELTK stock opened at $8.25 on Monday. The company’s 50-day moving average price is $9.74 and its two-hundred day moving average price is $10.51. Eltek has a 12 month low of $7.65 and a 12 month high of $12.47. The firm has a market cap of $55.39 million, a P/E ratio of 9.71 and a beta of 0.58.

Eltek Announces Dividend

The firm also recently announced a — dividend, which will be paid on Tuesday, April 29th. Shareholders of record on Tuesday, April 22nd will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Tuesday, April 22nd. Eltek’s payout ratio is 30.16%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ELTK. Essex Investment Management Co. LLC bought a new position in Eltek in the fourth quarter valued at about $99,000. Northern Trust Corp acquired a new position in Eltek in the 4th quarter valued at approximately $405,000. Finally, Yelin Lapidot Holdings Management Ltd. raised its stake in shares of Eltek by 206.7% during the fourth quarter. Yelin Lapidot Holdings Management Ltd. now owns 209,024 shares of the technology company’s stock valued at $2,312,000 after acquiring an additional 140,868 shares during the last quarter. 64.58% of the stock is currently owned by institutional investors and hedge funds.

Eltek Company Profile

Eltek Ltd. manufactures, markets, and sells printed circuit boards (PCBs) in Israel, Europe, North America, India, the Netherlands, and internationally. It offers a range of custom designed PCBs, including rigid, double-sided and multi-layer PCBs, and flexible circuitry boards. The company also provides high density interconnect, flex-rigid, and multi-layered boards.