Needham & Company Reiterates a 'Buy' on IXYS Corp (IXYS); Slower Growth, But Margins Higher

May 25, 2012 7:53 AM EDT Send to a Friend
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Price: $11.46 +1.33%

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Needham & Company reiterates a 'Buy' on IXYS Corporation (NASDAQ: IXYS) price target of $14.00.

Analyst, Vernon Essi, Jr, said, "IXYS reported MarQ4 revenue just above the preannounced range of $86-87M, with lower EPS than our forecast due to a one-time goodwill impairment charge; however, pro-forma EPS was in line. The flat Q/Q revenue guide for JunQ1 was also below our forecast and attributable to the uncooperative macroeconomic conditions, but on the heels of a much stronger MarQ than its peers, this is less of a disappointment. In an effort to thwart some of the volatility in its business, IXYS is focusing developmental efforts away from the Consumer end market and toward the Industrial & related, which should also provide the side benefit of higher margins."

"We lowered our FY13 revenue/EPS estimates from $387M/$1.20 to $370M/$1.10, our FY14 estimates from $410M/$1.25 to $390M/$1.20."


For an analyst ratings summary and ratings history on IXYS Corporation click here. For more ratings news on IXYS Corporation click here.

Shares of IXYS Corporation closed at $11.78 yesterday.


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