FBR Capital Downgrades Atheros Communications (ATHR) to Market Perform; QCOM's Acquisition Is Likely to Close Soon
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Price: $3.65 -0.82%
Rating Summary:
4 Buy, 7 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
4 Buy, 7 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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FBR Capital downgraded Atheros Communications (NASDAQ: ATHR) from Outperform to Market Perform. PT $45.
FBR analyst says, "With Qualcomm’s (Nasdaq: QCOM) acquisition of Atheros imminent, we are downgrading ATHR to Market Perform with a $45 price target. Atheros’ shareholders have approved the deal, valued at roughly $3.3 billion, and we think this deal will close without incident at the agreed upon price of $45 cash per share and without another bidder surfacing. While some investors have complained that Atheros management left too much upside on the table, selling now does eliminate all risks related to Atheros' smaller scale and product development budgets versus competitors like Broadcom (Nasdaq: BRCM)."
For more ratings news on Atheros Communications click here and for the rating history of Atheros Communications click here.
Shares of Atheros Communications closed at $44.85 yesterday.
FBR analyst says, "With Qualcomm’s (Nasdaq: QCOM) acquisition of Atheros imminent, we are downgrading ATHR to Market Perform with a $45 price target. Atheros’ shareholders have approved the deal, valued at roughly $3.3 billion, and we think this deal will close without incident at the agreed upon price of $45 cash per share and without another bidder surfacing. While some investors have complained that Atheros management left too much upside on the table, selling now does eliminate all risks related to Atheros' smaller scale and product development budgets versus competitors like Broadcom (Nasdaq: BRCM)."
For more ratings news on Atheros Communications click here and for the rating history of Atheros Communications click here.
Shares of Atheros Communications closed at $44.85 yesterday.
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