Needham & Company Maintains a 'Buy' on Multi-Fineline (MFLX); Black & Blueberry Again? MFLX Preannounces Lower F3Q Results After “Major Customer” Slows
Tweet
Share
E-mailGet Alerts MFLX Hot Sheet
Price: $17.02 -0.12%
Rating Summary:
0 Buy, 2 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
0 Buy, 2 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Join SI Premium – FREE
Needham & Company maintains a 'Buy' on Multi-Fineline (NASDAQ: MFLX), PT lowered from $28 to $23.
Needham analyst says, "We had incorrectly believed (as MFLX likely did) that the impact of slower business from (what we suspect is Research In Motion (Nasdaq: RIMM)) was now fully reflected in the outlook. With the slower pulls in the latter part of June, estimates have now been revised materially lower once more. However, growth prospects with their other top customer (Apple (Nasdaq: AAPL)) as well as emerging customers (such as Samsung) are encouraging and prevent us from downgrading at the bottom.'
"Adjusting estimates accordingly. Our F3Q estimates go to $191M/$0.29 vs. $210.2M/$0.38. Our F11 estimates become $865M/$1.84 vs. $906.4M/$2.03, and our F12 estimates become $955M/$2.25 vs. $1.05B/$2.59."
For more ratings news on Multi-Fineline click here and for the rating history of Multi-Fineline click here.
Shares of Multi-Fineline closed at $21.73 yesterday.
Needham analyst says, "We had incorrectly believed (as MFLX likely did) that the impact of slower business from (what we suspect is Research In Motion (Nasdaq: RIMM)) was now fully reflected in the outlook. With the slower pulls in the latter part of June, estimates have now been revised materially lower once more. However, growth prospects with their other top customer (Apple (Nasdaq: AAPL)) as well as emerging customers (such as Samsung) are encouraging and prevent us from downgrading at the bottom.'
"Adjusting estimates accordingly. Our F3Q estimates go to $191M/$0.29 vs. $210.2M/$0.38. Our F11 estimates become $865M/$1.84 vs. $906.4M/$2.03, and our F12 estimates become $955M/$2.25 vs. $1.05B/$2.59."
For more ratings news on Multi-Fineline click here and for the rating history of Multi-Fineline click here.
Shares of Multi-Fineline closed at $21.73 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Coherent (COHR) PT Raised to $420 at Needham
- Jefferies Starts Aditya Birla Real Estate (ABREL:IN) at Buy
- Nu Holdings (Nubank) (NU) PT Raised to $19 at Needham
Create E-mail Alert Related Categories
Analyst CommentsRelated Entities
Needham & CompanySign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
