Barclays Lowers Estimates on SemiLEDs Corp (LEDS): Trying to Keep a LED on Weak China/Taiwan Demand

July 11, 2012 1:14 PM EDT Send to a Friend
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Barclays maintains an 'Equalweight' on SemiLEDs Corporation (NASDAQ: LEDS) price target of $5.00.

Analyst, Olga Levinzon, said, "While management continues to take steps to reduce cash burn and optimize Taiwan operations (selling off inventory, idling capacity at China JV), still tepid demand in China coupled with product portfolio realignment suggests that visibility to a return to profitability remains elusive."

Levinzon lowers estimates, citing continued sales decline, near-term cash burn and uncertain customer qualification times. FY12 from (0.95) to (1.16) and revenues from $38M to $29M. FY13 from (0.19) to (0.82)

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

Shares of SemiLEDs Corporation closed at $2.63 yesterday.




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