Brean Murray Carret & Co. Starts EZchip Semiconductor (EZCH) at Hold, Near-Term Macro Pressure

September 28, 2012 9:15 AM EDT Send to a Friend
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Price: $22.01 +2.09%

Rating Summary:
    7 Buy, 7 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 12 | Down: 48 | New: 12
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Brean Murray Carret & Co. initiates coverage on EZchip Semiconductor (NASDAQ: EZCH) with a Hold.

The firm comments, "EZchip is the leading merchant supplier of network processors (NPUs) to the Carrier Ethernet Switch/Router (CESR) market. While we believe EZchip is a compelling growth story, we are concerned about the near-term macroeconomic environment and the depressing effect it has had on demand for network equipment, in particular, from service providers (SPs). We would get more constructive on the stock if it were to decline from current levels or there is acceleration in shipments of EZchip’s NPUs by non-Cisco accounts. Going forward, over the next 2 years, and certainly over the longer term (3-5 years), we expect demand for EZCH’s silicon and IP to grow faster than the large, fast-growing CESR market it serves."

For an analyst ratings summary and ratings history on EZchip Semiconductor click here. For more ratings news on EZchip Semiconductor click here.

Shares of EZchip Semiconductor closed at $31.85 yesterday.

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