Canaccord Genuity Maintains a 'Hold' on SemiLEDs (LEDS); Challenges Persist, but Assets Help Backstop Valuation

Canaccord Genuity maintains a 'Hold' on SemiLEDs Corporation (NASDAQ: LEDS), PT lowered from $11 to $6.

Canaccord analyst, Jonathan Dorsheimer, says, "SemiLEDs reported another very disappointing quarter and provided an even more challenging outlook. Revenues were $5.6M with a pro forma net loss per share of ($0.16). Consensus was $6.3M with ($0.06) and we were expecting $6.3M/($0.07)...We unfortunately do not foresee SemiLEDs returning to profitability anytime soon. However, we do see fair value in the company’s shares at current levels given $3.08 in net cash plus another $75M, or $3 per share, in the value of its equipment and buildings."

For more ratings news on SemiLEDs Corporation click here and for the rating history of SemiLEDs Corporation click here.

Shares of SemiLEDs Corporation closed at $6.20 yesterday.

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