Needham & Company Maintains a 'Buy' on Volterra Semiconductor (VLTR); Staying Constructive Despite Moderating Demand
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Price: $13.87 -0.43%
Rating Summary:
11 Buy, 6 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 21 | Down: 24 | New: 29
Rating Summary:
11 Buy, 6 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 21 | Down: 24 | New: 29
Trade VLTR Now!
Needham & Company maintains a 'Buy' on Volterra Semiconductor (NASDAQ: VLTR) price target of $29.00 (from $33.00).
Analyst, Vernon Essi, Jr., said, "VLTR reported Q2 revenue 2% below consensus and EPS that missed consensus by $0.03; however results were within the lower end of the guided range. The Q3 guidance of roughly flat revenue and EPS Q/Q was blamed on macro weakness that dampened orders towards the end of Q2. This revenue guide is about 10% below consensus. Server was about 3% below our expectation despite growing 4% Q/Q and management indicated that server customers were expecting a much slower ramp for Romley that will likely push out the peak revenue run rate quarter from Q4 of 2012 to 1H 2013...We reduce our revenue/EPS estimates for 2012 from $192M/$1.60 to $176M/$1.32 and reduce 2013E from $209M/$1.85 to $193M/$1.60. Despite lowering our price target we would be buyers on share price weakness as we believe the longer-term growth story is intact."
For an analyst ratings summary and ratings history on Volterra Semiconductor click here. For more ratings news on Volterra Semiconductor click here.
Shares of Volterra Semiconductor closed at $25.22 yesterday, with a 52 week range of $18.09-$34.87.
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Analyst, Vernon Essi, Jr., said, "VLTR reported Q2 revenue 2% below consensus and EPS that missed consensus by $0.03; however results were within the lower end of the guided range. The Q3 guidance of roughly flat revenue and EPS Q/Q was blamed on macro weakness that dampened orders towards the end of Q2. This revenue guide is about 10% below consensus. Server was about 3% below our expectation despite growing 4% Q/Q and management indicated that server customers were expecting a much slower ramp for Romley that will likely push out the peak revenue run rate quarter from Q4 of 2012 to 1H 2013...We reduce our revenue/EPS estimates for 2012 from $192M/$1.60 to $176M/$1.32 and reduce 2013E from $209M/$1.85 to $193M/$1.60. Despite lowering our price target we would be buyers on share price weakness as we believe the longer-term growth story is intact."
For an analyst ratings summary and ratings history on Volterra Semiconductor click here. For more ratings news on Volterra Semiconductor click here.
Shares of Volterra Semiconductor closed at $25.22 yesterday, with a 52 week range of $18.09-$34.87.
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