Wedbush Upgrades Volterra Semiconductor (VLTR) to Outperform; Shares Overly Punished
More News related to VLTR
- Craig-Hallum Initiates Coverage on Volterra Semi (VLTR) with a Buy
- Wedbush Upgrades Volterra Semiconductor (VLTR) to Outperform; Shares Overly Punished
- Unusual 11 Mid-Day Movers 10/20: TSTC, MPS, AEHR, TBUS Higher; CONN, GAP, BSX, VLTR Lower
- CORRECTION -- Volterra Reports Third Quarter 2009 Financial Results
- After-Hours Movers 10/19: PRSC, AAPL, WERN, ATHR, STLD, RX, TXN Higher; VLTR, SWI, PKG, BSX Lower
Wedbush upgrades Volterra Semiconductor (Nasdaq: VLTR) from Neutral to Outperform. Price target $18.
Wedbush analyst says, "We upgrade shares of Volterra to Outperform as we believe shares were overly punished following disappointing 3Q results - a penny miss on higher legal expense. Specifically, while litigation will weigh on profitability, our confidence on Volterra's technology and top-line growth stands unwavered. We think Volterra's core business can throw off $1.10 of earnings power next year (ex-legal) driven by a diverse set of product cycles including high margin server (Nehalem, Magny-cours) and ramping notebook (Calpella). Further, we believe Volterra remains well-positioned in terms of IP and the upcoming case against IFX/Primarion - particularly given the favorable preliminary injunction granted on 9/30."
"If we were to look at Volterra strictly on a GAAP basis including legal, we find that risk / reward still looks favorable with downside / upside scenarios of $0.69 / $1.27 compared to our base case of $0.90."
To see more analyst ratings on VLTR Click Here.
Related Categories
UpgradesStocks Mentioned
-0.33Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
