Benchmark Upgrades Audience (ADNC) to Buy
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Price: $4.89 --0%
Rating Summary:
1 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
Rating Summary:
1 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
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Benchmark upgraded Audience, Inc. (NASDAQ: ADNC) from Hold to Buy with a price target of $14.00 (from $12.00). Analyst Gary Mobley thinks soft sales at Samsung are a function of timing and he expects sales growth in Q4.
"We are taking the opportunity to upgrade Audience's shares from “Hold” to “Buy” based on: 1) our belief soft sales to Samsung is merely a function of the timing of Samsung's product launches (e.g. sales to Samsung strong in 2Q13 because of S IV launch), 2) sales to Samsung will return to growth in 4Q13, 3) the sales pipeline to non-Apple/Samsung smartphone customers remains encouraging, 4) non- smartphone design wins should catalyze FY14 revenue growth, 5) the launch of the es515 earSmart processor should help FY14 revenue growth and margins, 6) Audience has done a good job of creating barriers to competition by working with mobile network operators to define voice/audio quality standards and 7) Audience is worth more than the $109 million enterprise value (EV) the market is current affording in Audience's share price," said Mobley.
For an analyst ratings summary and ratings history on Audience, Inc. click here. For more ratings news on Audience, Inc. click here.
Shares of Audience, Inc. closed at $10.09 yesterday.
"We are taking the opportunity to upgrade Audience's shares from “Hold” to “Buy” based on: 1) our belief soft sales to Samsung is merely a function of the timing of Samsung's product launches (e.g. sales to Samsung strong in 2Q13 because of S IV launch), 2) sales to Samsung will return to growth in 4Q13, 3) the sales pipeline to non-Apple/Samsung smartphone customers remains encouraging, 4) non- smartphone design wins should catalyze FY14 revenue growth, 5) the launch of the es515 earSmart processor should help FY14 revenue growth and margins, 6) Audience has done a good job of creating barriers to competition by working with mobile network operators to define voice/audio quality standards and 7) Audience is worth more than the $109 million enterprise value (EV) the market is current affording in Audience's share price," said Mobley.
For an analyst ratings summary and ratings history on Audience, Inc. click here. For more ratings news on Audience, Inc. click here.
Shares of Audience, Inc. closed at $10.09 yesterday.
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