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Vimicro (VIMC) Is Maybe the Hottest Stock in the Market

September 18, 2014 12:21 PM EDT
Get Alerts VIMC Hot Sheet
Price: $13.43 --0%

Rating Summary:
    1 Buy, 0 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 20 | Down: 14 | New: 22
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Vimicro International (NASDAQ: VIMC), a leading video surveillance technology and solution provider in China, has been one of the hottest stock in the market. The stock is up 148% month-to-date, 215% since July 1, and 12.5% just today.

Needham & Company analyst Rajvindra Gill, a noted bull on the stock, calls Vimicro "a great company" and said "they own the SVAC (security video and audio coding) standard in China, which will become the defacto standard across China." Gill also highlighted no foreign competition and basically little domestic competition.

Notably, while Gill raised just raised his price target on September 8 from $6 to $8, shares are significantly above this price despite his 'Strong Buy' rating. When StreetInsider.com asked Gill if he was considering raising his price target, he said while he is thinking about it given that stock's rapid move he has no comment at this time.

Some believe part of the upside in the stock could be related to enthusiasm about tomorrow's highly-anticipated Alibaba (NYSE: BABA) IPO. While the two are not competitors or partners, Gill said perhaps there is a connection as maybe investors are getting warmed up to Chinese companies.

The company will also be participating in a number of non-deal roadshows next week to meet with investors, adding to the enthusiasm.



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