Needham & Company Maintains a 'Hold' on Hutchinson Technology (HTCH); Preannounces Higher F3Q Unit Volume, Likely Due To Shift From Notebook To Desktop

Needham & Company maintains a 'Hold' on Hutchinson Technology (NASDAQ: HTCH).

Needham analyst says, "This morning Hutchinson preannounced its F3Q results, expecting F3Q suspension assembly shipments to be up 10% over F2Q shipments of 102.3M. We believe this quarterly performance is due to the industry’s inability to produce enough notebook drives after the earthquake induced component constraints. We remain cautious on the near to long-term outlook for HTCH until meaningful share gains and profitability is restored."

"We are revising our F3Q estimate from $61.8M/loss of $0.21 to $67.7M/loss of $0.07. Our F11 estimates become $272.5M/loss of $1.39 vs. $260.2M/loss of $1.67; F12 estimates go to $304.5M/$0.35 vs. $278M/loss of $0.23."

For more ratings news on Hutchinson Technology click here and for the rating history of Hutchinson Technology click here.

Shares of Hutchinson Technology closed at $2.07 yesterday.

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