Deutsche Bank Lowers Price Target and Estimates on Siliconware Precision (SPIL); Sales Momentum Slowing

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Deutsche Bank maintains a 'Hold' on Siliconware Precision Industries (NASDAQ: SPIL), PT lowered from NT36 to NT35.

Deutsche analyst said, "We are lowering our EPS forecasts by 8% to NT$1.94 for 2012 and 5% to NT$2.82 for 2013 to factor in the weaker demand outlook especially for the PC (GPU and hard disk driver) and consumer (TV and set-top-box) segments. We still expect the company to penetrate Qualcomm (Nasdaq: QCOM) for handset chip back-end solutions in 4Q12. However, we maintain our Hold on balanced risk/reward.

For an analyst ratings summary and ratings history on Siliconware Precision Industries click here. For more ratings news on Siliconware Precision Industries click here.

Shares of Siliconware Precision Industries closed at $5.47 yesterday, with a 52 week range of $3.92-$6.19.

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