Needham & Company Maintains a 'Buy' on Mindspeed Technologies (MSPD); Management Implements Actions
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Price: $3.07 -3.46%
Rating Summary:
5 Buy, 2 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 13
Rating Summary:
5 Buy, 2 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 13
Trade MSPD Now!
Needham & Company maintains a 'Buy' on Mindspeed Technologies (NASDAQ: MSPD) price target of $4.00 (from $5.00).
Analyst, N. Quinn Bolton, said, "Mindspeed reported F3Q12 results in-line with guidance but provided F4Q12 revenue guidance below expectations as the company continues to face a sluggish wireline carrier spending environment. In response, management has implemented a reduction-in-force to bring OPEX back to pre-Picochip levels. Additionally, the company’s wireless business remains on track with our model and we continue to believe Mindspeed represents one of the best plays on the growth of the small cell basestation market over the next several years. Though we have lowered our forward revenue estimates, we have reduced our loss per share estimates to reflect the reduction in OPEX." (FY13 EPS raised from (0.25) to (0.07))
For an analyst ratings summary and ratings history on Mindspeed Technologies click here. For more ratings news on Mindspeed Technologies click here.
Shares of Mindspeed Technologies closed at $2.55 yesterday, with a 52 week range of $2.31-$7.60.
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Analyst, N. Quinn Bolton, said, "Mindspeed reported F3Q12 results in-line with guidance but provided F4Q12 revenue guidance below expectations as the company continues to face a sluggish wireline carrier spending environment. In response, management has implemented a reduction-in-force to bring OPEX back to pre-Picochip levels. Additionally, the company’s wireless business remains on track with our model and we continue to believe Mindspeed represents one of the best plays on the growth of the small cell basestation market over the next several years. Though we have lowered our forward revenue estimates, we have reduced our loss per share estimates to reflect the reduction in OPEX." (FY13 EPS raised from (0.25) to (0.07))
For an analyst ratings summary and ratings history on Mindspeed Technologies click here. For more ratings news on Mindspeed Technologies click here.
Shares of Mindspeed Technologies closed at $2.55 yesterday, with a 52 week range of $2.31-$7.60.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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