Auriga Starts NetLogic Microsystems (NETL) at Hold
NETL Hot Sheet
Rating Summary:5 Buy, 15 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 16 | Down: 7 | New: 23
Auriga initiates coverage on NetLogic Microsystems (Nasdaq: NETL) with a Hold rating and $29 price target.
The firm said, "NETL's core Knowledge-based Processor (KBP) products dominate the market, and its multi-core communications processor is gaining traction. However, our checks suggest the potential for near-term weakness at Cisco (CSCO, NR) and other enterprise customers. With a significant amount of business from mature designs (and thus volume-oriented business), and the need to invest heavily to integrate core technologies with those of recent acquisition Raza Microsystems (RMI), we would stay on the sidelines until the growth trajectory is more clear."
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The firm said, "NETL's core Knowledge-based Processor (KBP) products dominate the market, and its multi-core communications processor is gaining traction. However, our checks suggest the potential for near-term weakness at Cisco (CSCO, NR) and other enterprise customers. With a significant amount of business from mature designs (and thus volume-oriented business), and the need to invest heavily to integrate core technologies with those of recent acquisition Raza Microsystems (RMI), we would stay on the sidelines until the growth trajectory is more clear."
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