Advanced Photonix, Inc.’s (NYSEMKT:API) Quiet Period Will Expire on August 5th

Advanced Photonix’s (NYSEMKT:API) quiet period is set to expire on Wednesday, August 5th. Advanced Photonix had issued 17,500,000 shares in its public offering on June 26th. The total size of the offering was $350,000,000 based on an initial share price of $20.00. During Advanced Photonix’s quiet period, insiders and underwriters that worked on the IPO are restricted from issuing any research reports or earnings estimates for the company because of SEC regulations. Following the expiration of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

A number of equities analysts have recently commented on the stock. BofA Securities started coverage on shares of Advanced Photonix in a research note on Tuesday, July 21st. They issued a “buy” rating and a $60.00 target price on the stock. Morgan Stanley started coverage on shares of Advanced Photonix in a research note on Tuesday, July 21st. They set an “equal weight” rating and a $42.00 price target on the stock. Bank of America initiated coverage on shares of Advanced Photonix in a research note on Tuesday, July 21st. They set a “buy” rating and a $60.00 price target on the stock. Finally, Needham & Company LLC initiated coverage on shares of Advanced Photonix in a research report on Tuesday, July 21st. They issued a “buy” rating and a $60.00 target price for the company.

Advanced Photonix Company Profile

Advanced Photonix, Inc (API) is engaged in the development and manufacture of optoelectronic devices and sub-systems and systems. The Company serves a range of global original equipment manufacturers (OEMs) in a range of industries. API supports its customers from the initial concept and design phase of the product, through testing to full-scale production.

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