Needham & Company Reiterates a 'Buy' on LTX-Credence (LTXC); Bus Tour Update Offers Bullish Tone; New Product Forthcoming

Needham & Company reiterates a 'Buy' on LTX-Credence (NASDAQ: LTXC), PT $12.

Needham analyst said, "LTXC management gave an upbeat presentation during a stop on our second annual Needham SemiCap Bus Tour. Many of the already prevalent themes were discussed such as TAM estimates and market shares for LTXC's SOC market as well as the LTXC's leadership in the RF PA market with its newer PAx tester platform. Incremental to this was an end market revenue breakout for 2010 that underscored the importance of its three big markets: consumer, mobile handsets, and automotive which total 76% of revenue combined. Of note is the importance of Auto, which was 22% of LTXC's revenue in CY2010. Also mentioned was a new product development targeting ASSP/ASIC."

For more ratings news on LTX-Credence click here and for the rating history of LTX-Credence click here.

Shares of LTX-Credence closed at $8.69 yesterday.

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