Dougherty & Co Upgrades MIPS Technologies (MIPS) to Buy, Buts Cuts Price Target by 20%
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Price: $7.98 --0%
Rating Summary:
1 Buy, 1 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 2 | Down: 8 | New: 6
Rating Summary:
1 Buy, 1 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 2 | Down: 8 | New: 6
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Dougherty & Co upgraded shares of MIPS Technologies (NASDAQ: MIPS) to a Buy rating from its previous rating of Neutral, but is lowering its price target from $10 to $8.
2011 has been a struggling year for the company, but the firm does not anticipate on it lightening up anytime soon. Dougherty also noted that its mobile initiative, which is expected to deliver growth is showing extremely slow growth.
The firm forecasts that MIPS will release its Q4 results and 2012 guidance below expectations due to a lack of licensing deal flow and weakness in its digital home end markets which could impact royalties.
Dougherty & Co is lowering its Q4 EPS and revenue estimates from $0.07 and $19.7 million to $0.06 and $19.3 million; its FY12 from $0.41 and $89 million to $0.31 and $82 million, and its CY12 from $0.50 and $94 million to $0.40 and $87 million.
For more ratings news on MIPS Technologies click here and for the rating history of MIPS Technologies click here.
Shares of MIPS Technologies closed at $6.48 yesterday.
2011 has been a struggling year for the company, but the firm does not anticipate on it lightening up anytime soon. Dougherty also noted that its mobile initiative, which is expected to deliver growth is showing extremely slow growth.
The firm forecasts that MIPS will release its Q4 results and 2012 guidance below expectations due to a lack of licensing deal flow and weakness in its digital home end markets which could impact royalties.
Dougherty & Co is lowering its Q4 EPS and revenue estimates from $0.07 and $19.7 million to $0.06 and $19.3 million; its FY12 from $0.41 and $89 million to $0.31 and $82 million, and its CY12 from $0.50 and $94 million to $0.40 and $87 million.
For more ratings news on MIPS Technologies click here and for the rating history of MIPS Technologies click here.
Shares of MIPS Technologies closed at $6.48 yesterday.
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