Brean Murray Carret & Co. Starts PMC-Sierra (PMCS) at Hold, Near-Term Lackluster Demand

September 28, 2012 9:11 AM EDT Send to a Friend
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Price: $9.45 --0%

Rating Summary:
    2 Buy, 8 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 13 | Down: 29 | New: 5
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Brean Murray Carret & Co. initiates coverage on PMC-Sierra (NASDAQ: PMCS) with a Hold.

The firm comments, "Over the longer term, we believe PMCS will benefit from growth in enterprise storage — driven by Cloud Computing, Mobile & Wireline network upgrades to support an explosion in mobile data, and the increasing requirements on Storage systems to upgrade to handle 'Big Data.' In the near term, we believe PMCS will be limited by lackluster demand, caused by the poor macroeconomic environment, and we do not see a compelling valuation argument at current levels."

For an analyst ratings summary and ratings history on PMC-Sierra click here. For more ratings news on PMC-Sierra click here.

Shares of PMC-Sierra closed at $5.74 yesterday.

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