Vecima Networks (TSE:VCM) Downgraded by Cormark to Market Perform

Cormark downgraded shares of Vecima Networks (TSE:VCM) from a buy rating to a market perform rating in a report released on Monday,BayStreet.CA reports. The brokerage currently has C$14.00 price objective on the stock, down from their previous price objective of C$23.00.

Separately, Accountability Research dropped their target price on shares of Vecima Networks from C$27.00 to C$24.00 in a report on Friday, November 15th.

Vecima Networks Stock Up 0.5 %

VCM stock opened at C$12.41 on Monday. The stock has a market capitalization of C$301.69 million, a P/E ratio of 15.51 and a beta of 0.63. The company has a current ratio of 1.64, a quick ratio of 0.83 and a debt-to-equity ratio of 29.61. Vecima Networks has a 12 month low of C$12.27 and a 12 month high of C$23.01. The firm has a 50-day moving average price of C$15.22 and a 200-day moving average price of C$18.45.

Vecima Networks Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 16th were issued a $0.055 dividend. The ex-dividend date of this dividend was Friday, November 22nd. This represents a $0.22 dividend on an annualized basis and a dividend yield of 1.77%. Vecima Networks’s dividend payout ratio (DPR) is currently 27.50%.

Insider Transactions at Vecima Networks

In other news, Senior Officer Clay Mccreery sold 1,600 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of C$17.40, for a total value of C$27,840.00. Over the last 90 days, insiders purchased 1,500 shares of company stock valued at $25,390. 57.14% of the stock is currently owned by insiders.

About Vecima Networks

Vecima Networks Inc engages in the development of integrated hardware and software solutions for broadband access, content delivery, and telematics. The company operates through three segments: Video and Broadband Solutions, Content Delivery and Storage, and Telematics. The Video and Broadband Solutions segment offers platforms that process data from the cable network and deliver high-speed internet connectivity to homes over cable and fiber, as well as adapt video services.