Needham & Company Reiterates a 'Hold' on Supertex (SUPX); Soft Guide on LED and Ultrasound Weakness
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Price: $8.52 +25.29%
Rating Summary:
1 Buy, 1 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
1 Buy, 1 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Needham & Company reiterates a 'Hold' on Supertex (NASDAQ: SUPX).
Needham analyst says, "SUPX posted soft MarQ4 results and guided JunQ1 to be flat to down 5% Q/Q. The weakness is due primarily to likely market shares losses stemming from price competition in medical ultrasound coupled with LED weakness from a delayed monitor program. We are making material reductions in our financial model as we believe these are issues that will not turn quickly and have a reasonable probability of persisting through 2011. While there remains more dry powder in SUPX’s share repurchase, the last quarter’s worth of share buybacks did not prop up the share price as much as we expected. We lowered FY12 revenue/EPS from $87M/$1.25 to $75M/$0.80 and our FY13 revenue/EPS from $91M/$1.30 to $77M/$0.80. With no near-term catalysts and limited longterm visibility, we reiterate our rating."
For more ratings news on Supertex click here and for the rating history of Supertex click here.
Shares of Supertex closed at $21.93 yesterday.
Needham analyst says, "SUPX posted soft MarQ4 results and guided JunQ1 to be flat to down 5% Q/Q. The weakness is due primarily to likely market shares losses stemming from price competition in medical ultrasound coupled with LED weakness from a delayed monitor program. We are making material reductions in our financial model as we believe these are issues that will not turn quickly and have a reasonable probability of persisting through 2011. While there remains more dry powder in SUPX’s share repurchase, the last quarter’s worth of share buybacks did not prop up the share price as much as we expected. We lowered FY12 revenue/EPS from $87M/$1.25 to $75M/$0.80 and our FY13 revenue/EPS from $91M/$1.30 to $77M/$0.80. With no near-term catalysts and limited longterm visibility, we reiterate our rating."
For more ratings news on Supertex click here and for the rating history of Supertex click here.
Shares of Supertex closed at $21.93 yesterday.
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