Intermolecular's (IMI) Technology Warrant's Premium, Says Analyst

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Needham & Company today reiterated a Buy rating on technology and semiconductor company Intermolecular (NASDAQ: IMI) and raised its price target of $11.00 (from $10.00).

Analyst Y. Edwin Mok said, "We believe the value of IMI's unique technologies, its broad target markets, and its superior business model warrant a premium valuation relative to other companies in the greater semiconductor space."

From a performance point of view, Mok thinks many investors are waiting for the initial start of the "volume-based royalty" and he expects the stock will continue to march higher throughout 2013.

"We believe the company is gaining momentum with various CDP engagements that support a sustainable long-term growth trajectory well beyond 2013," added Mok.

For an analyst ratings summary and ratings history on Intermolecular (NASDAQ: IMI) click here. For more ratings news on Intermolecular click here.

Shares of Intermolecular closed at $9.65 yesterday, with a 52 week range of $5.01-$9.71.

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