Needham & Company Maintains a 'Hold' on SMART Modular (SMOD); With No Other Bidders Appearing, We See The ‘Going Private’ Transaction Closing As Planned

Needham & Company maintains a 'Hold' on SMART Modular Technologies (NASDAQ: SMOD).

Needham analyst says, "Last night SMOD announced F3Q results below consensus, but provided no specific commentary on the quarter. As the go-shop period for the go-private transaction expired on June 10th without any alternative acquisition proposals tendered, we see the quarter as largely irrelevant and unlikely to impact the deal. Without specific guidance from the company, we revise our estimates and reiterate our Hold rating on SMOD as its going private transaction with Silver Lake Partners and Silver Lake Sumeru appears likely to close during C3Q for $9.25 per share (in all cash)."

For more ratings news on SMART Modular Technologies click here and for the rating history of SMART Modular Technologies click here.

Shares of SMART Modular Technologies closed at $9.20 yesterday.

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