Needham & Company Maintains a 'Buy' on Silicon Image (SIMG); Solid Beat and Raise
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Price: $6.05 +0.50%
Rating Summary:
6 Buy, 0 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
6 Buy, 0 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade SIMG Now!
Needham & Company maintains a 'Buy' on Silicon Image (NASDAQ: SIMG) price target of $8.00.
Analyst, Rajvinra S Gill, said, "Once again, MHL revenues exceeded expectations and we have increased our annual MHL forecast by 20% to represent nearly 50% of sales in 2012. While CE continues to be a drag, mobile now accounts for the overwhelming majority of product sales (52% vs. 38%), a good trend in our view, as we think SIMG should be viewed a mobile play, instead of a play on DTVs."
"We see a clear path for further adoption as evident in SIMG’s confidence of a steep 2H ramp in overall sales. Making us more bullish is the prospect of 60GHz technology, which should see revenues in 2H13. We view 60GHz as a “call option,” with just minor market penetration possibly leading to considerable upside for the shares."
For an analyst ratings summary and ratings history on Silicon Image click here. For more ratings news on Silicon Image click here.
Shares of Silicon Image closed at $5.71 yesterday, with a 52 week range of $4.20-$8.60.
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Analyst, Rajvinra S Gill, said, "Once again, MHL revenues exceeded expectations and we have increased our annual MHL forecast by 20% to represent nearly 50% of sales in 2012. While CE continues to be a drag, mobile now accounts for the overwhelming majority of product sales (52% vs. 38%), a good trend in our view, as we think SIMG should be viewed a mobile play, instead of a play on DTVs."
"We see a clear path for further adoption as evident in SIMG’s confidence of a steep 2H ramp in overall sales. Making us more bullish is the prospect of 60GHz technology, which should see revenues in 2H13. We view 60GHz as a “call option,” with just minor market penetration possibly leading to considerable upside for the shares."
For an analyst ratings summary and ratings history on Silicon Image click here. For more ratings news on Silicon Image click here.
Shares of Silicon Image closed at $5.71 yesterday, with a 52 week range of $4.20-$8.60.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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