Needham & Company Maintains Stong Buy On Microelectronics (RDA)
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Price: $10.48 +1.26%
Rating Summary:
7 Buy, 2 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 21
Rating Summary:
7 Buy, 2 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 21
Trade RDA Now!
Today Needham & Company maintained a Strong Buy rating on RDA Microelectronics (NASDAQ: RDA) but trimmed their price target to $15.00 (from $15.50).
In today's report, analyst N. Quinn Bolton noted Microelectronics mixed 2Q12 results, with revenue near the low-end of guidance but EPS ahead of consensus.
"While an aggressive pricing environment for 2G basebands and front-end modules causes us to slightly reduce our forward GM and EPS estimates, we continue to believe RDA is poised for significant revenue growth due to its entry into the baseband segment, its expanding RF front-end and connectivity product portfolios and expected share gains," said Bolton.
"RDA’s valuation remains among the most compelling in our coverage universe, in our view," he added.
He reduced 2012 and 2013 non-GAAP EPS estimates to $1.30 and $1.50 from $1.32 and $1.55, respectively.
For an analyst ratings summary and ratings history on RDA Microelectronics click here. For more ratings news on RDA Microelectronics click here.
Shares of RDA Microelectronics closed at $9.95 yesterday, with a 52 week range of $7.06-$14.25.
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In today's report, analyst N. Quinn Bolton noted Microelectronics mixed 2Q12 results, with revenue near the low-end of guidance but EPS ahead of consensus.
"While an aggressive pricing environment for 2G basebands and front-end modules causes us to slightly reduce our forward GM and EPS estimates, we continue to believe RDA is poised for significant revenue growth due to its entry into the baseband segment, its expanding RF front-end and connectivity product portfolios and expected share gains," said Bolton.
"RDA’s valuation remains among the most compelling in our coverage universe, in our view," he added.
He reduced 2012 and 2013 non-GAAP EPS estimates to $1.30 and $1.50 from $1.32 and $1.55, respectively.
For an analyst ratings summary and ratings history on RDA Microelectronics click here. For more ratings news on RDA Microelectronics click here.
Shares of RDA Microelectronics closed at $9.95 yesterday, with a 52 week range of $7.06-$14.25.
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