Goldman Sachs Downgrades LSI Corporation (LSI) to Neutral

May 1, 2013 7:01 AM EDT
Get Alerts LSI Hot Sheet
Price: $81.84 +1.56%

Rating Summary:
    12 Buy, 12 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
Trade LSI Now!
Join SI Premium – FREE
Goldman Sachs downgraded LSI Corporation (NASDAQ: LSI) from Buy to Neutral with a price target of $7.00 (from $8.00).

The firm cites two key factors that will make it difficult for LSI to beat Street estimates: "(1) Weak enterprise spending, which is negatively impacting enterprise servers/storage and PCs (60% of sales); (2) continued deterioration in PCs – although LSI’s notebook HDD exposure is small, the decline in desktops (down 13% yoy in 1Q) is pressuring the HDD business."

Goldman lowered 2013/2014/2015 EPS to $0.50/$0.65/$0.75 from $0.50/$0.70/$0.80.

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

Shares of LSI Corporation closed at $6.54 yesterday.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Analyst EPS Change, Analyst PT Change, Downgrades

Related Entities

Goldman Sachs

Add Your Comment