Canaccord Adams Reiterates a 'Buy' on Volterra Semiconductor (VLTR); Raises Estimates & Price Target
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Canaccord Adams reiterates a 'Buy' on Volterra Semiconductor (Nasdaq; VLTR). Price target increased from $9 to $12.
Canaccord analyst says, "Volterra reported better-than-expected revenues and EPS last night, driven by upside from Intel’s (Nasdaq: INTC) new server platform. Our checks show a healthy ramp of Thurley is likely to continue in Q2, corroborating management’s guidance for growth. We are raising our estimates: Revenue: Q2/09E from US$18.4 million to US$22.0 million; C2009E from US$77.4 million to US$88.8 million. EPS: Q2/09E from US$0.01 to US$0.05; C2009E from US$0.14 to US$0.26."
Volterra Semiconductor Corporation designs, develops, and markets analog and mixed-signal power management semiconductors for the computing, storage, networking, and consumer markets.
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