Barclays Maintains an 'Overweight' on Volterra Semiconductor (VLTR); Reset as Expected - Romley Ramps Up Next

FREE Breaking News Alerts from StreetInsider.com!

VLTR Hot Sheet

Rating Summary:
9 Buy, 5 Hold, 0 Sell

Rating Trend:

Up

Today's Overall Ratings:
Up: 19 | Down: 16 | New: 82

Barclays maintains an 'Overweight' on Volterra Semiconductor (NASDAQ: VLTR) price target of $27.00.

Barclays analyst says, "Volterra reported mixed September results (revenue lower yet EPS better) and provided lower December guidance due to the well-anticipated Romley pushouts and ongoing weakness in notebook channel. We view this as the last reset and continue to believe this is one of the better secular stories in small cap semis driven by share gain in servers and notebooks in 2012."

"4Q Guidance Lower on Further Notebook Weakness and Romley Delay: VLTR guided Q4 revenue of $37-39M (down 6-10% Q/Q), significantly below consensus of $44.4M reflecting ongoing weakness in Notebooks (down >20% Q/Q), lower Networking, and well known Romley delays (largely pushed to 2012). Volterra noted strong traction for Chief River notebook designs (1H:12 ramp) with further share gains to drive growth in 2012. We had already cut our estimates so our revenue/EPS estimates only edge lower to $38.4M/$0.26 (old $42.1M/$0.28 prior, consensus $44.4M/$0.35)."

For more ratings news on Volterra Semiconductor click here and for the rating history of Volterra Semiconductor click here.

Shares of Volterra Semiconductor closed at $23.48 yesterday, with a 52 week range of $18.09-$27.68.

Discover Wall Street's best ratings calls with the pros - Ratings Insider Elite. Free Trial!