Benchmark Upgrades MIPS Technologies (MIPS) to Buy; Rising Value From Patent Portfolio
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Price: $7.98 --0%
Rating Summary:
2 Buy, 3 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
2 Buy, 3 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade MIPS Now!
Benchmark upgraded MIPS Technologies (NASDAQ: MIPS) from Hold to Buy with a price target of $10.00.
Analyst, Gary Mobley, said, "We are raising our rating on shares of MIPS based on a heightened target value for the company’s 580 patents; these have value on a standalone basis or as a key component for the outright sale of the company to a defensive or strategic buyer. We believe the shares offer a compelling risk-reward tradeoff with a $5.00 target supported by the fundamentals of the business, the company’s net cash position and the present value of the royalty stream. For every $100 million increment in the value of the company’s patent portfolio, the value of the company increases by ~$1.90/share."
For an analyst ratings summary and ratings history on MIPS Technologies click here. For more ratings news on MIPS Technologies click here.
Shares of MIPS Technologies closed at $6.60 yesterday, with a 52 week range of $3.87-$8.27.
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Analyst, Gary Mobley, said, "We are raising our rating on shares of MIPS based on a heightened target value for the company’s 580 patents; these have value on a standalone basis or as a key component for the outright sale of the company to a defensive or strategic buyer. We believe the shares offer a compelling risk-reward tradeoff with a $5.00 target supported by the fundamentals of the business, the company’s net cash position and the present value of the royalty stream. For every $100 million increment in the value of the company’s patent portfolio, the value of the company increases by ~$1.90/share."
For an analyst ratings summary and ratings history on MIPS Technologies click here. For more ratings news on MIPS Technologies click here.
Shares of MIPS Technologies closed at $6.60 yesterday, with a 52 week range of $3.87-$8.27.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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