Needham & Company Downgrades ANADIGICS (ANAD) to Hold; Weak Q2 and Cash is Burning
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Price: $2.05 +2.50%
Rating Summary:
2 Buy, 3 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
2 Buy, 3 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade ANAD Now!
Needham & Company downgraded ANADIGICS (NASDAQ: ANAD) from Buy to Hold.
Analyst, N. Quinn Bolton, said, "ANAD reported weaker than expected 2Q12 results in which GM fell into negative territory. And while management expects revenue to stabilize in 3Q12, we had been looking for revenue to grow Q/Q. The combination of lower than expected revenue and margins require us to increase our net loss and cash burn estimates. With our financial model forecasting cash may decline to less than $20MM by the end of 2013, we believe ANAD may have to seek additional capital that would be dilutive to current shareholders, especially if our revenue estimates prove too aggressive."
FY12 EPS loss lowered from (0.75) to (0.94) and FY12 from (0.45) to (0.56).
For an analyst ratings summary and ratings history on ANADIGICS click here. For more ratings news on ANADIGICS click here.
Shares of ANADIGICS closed at $1.57 yesterday, with a 52 week range of $1.54-$3.23.
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Analyst, N. Quinn Bolton, said, "ANAD reported weaker than expected 2Q12 results in which GM fell into negative territory. And while management expects revenue to stabilize in 3Q12, we had been looking for revenue to grow Q/Q. The combination of lower than expected revenue and margins require us to increase our net loss and cash burn estimates. With our financial model forecasting cash may decline to less than $20MM by the end of 2013, we believe ANAD may have to seek additional capital that would be dilutive to current shareholders, especially if our revenue estimates prove too aggressive."
FY12 EPS loss lowered from (0.75) to (0.94) and FY12 from (0.45) to (0.56).
For an analyst ratings summary and ratings history on ANADIGICS click here. For more ratings news on ANADIGICS click here.
Shares of ANADIGICS closed at $1.57 yesterday, with a 52 week range of $1.54-$3.23.
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