Needham & Company Reiterates a 'Buy' on Mindspeed Technologies (MSPD); Growth Businesses and Design Win Momentum Each Continue To Accelerate
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Price: $5.04 --0%
Rating Summary:
3 Buy, 2 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 21 | New: 20
Rating Summary:
3 Buy, 2 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 21 | New: 20
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Needham & Company reiterates a 'Buy' on Mindspeed Technologies (NASDAQ: MSPD) price target of $9.
Needham analyst says, "MSPD reported F3Q11 results in-line with our and consensus estimates and issued F4Q11 revenue guidance on par with our recently lowered expectations. F3Q11 strength was led by 22% Q/Q growth in the CCP business, driven by seasonally strong optical access demand in China and healthy FTTx port growth. HPA showed strength in F3Q11 but will limit F4Q11 upside as small pockets of inventory that were accumulated post-Japan are depleted, particularly in OTN. The company highlighted a multimillion dollar crosspoint switch design win with a Tier 1 OEM, and Transcede traction continues to increase our confidence in a strong revenue ramp in 2012. We would encourage investors to take advantage of any near term weakness in shares as consensus estimates shift lower as we believe all fundamental demand drivers remain intact."
For more ratings news on Mindspeed Technologies click here and for the rating history of Mindspeed Technologies click here.
Shares of Mindspeed Technologies closed at $7.62 yesterday.
Needham analyst says, "MSPD reported F3Q11 results in-line with our and consensus estimates and issued F4Q11 revenue guidance on par with our recently lowered expectations. F3Q11 strength was led by 22% Q/Q growth in the CCP business, driven by seasonally strong optical access demand in China and healthy FTTx port growth. HPA showed strength in F3Q11 but will limit F4Q11 upside as small pockets of inventory that were accumulated post-Japan are depleted, particularly in OTN. The company highlighted a multimillion dollar crosspoint switch design win with a Tier 1 OEM, and Transcede traction continues to increase our confidence in a strong revenue ramp in 2012. We would encourage investors to take advantage of any near term weakness in shares as consensus estimates shift lower as we believe all fundamental demand drivers remain intact."
For more ratings news on Mindspeed Technologies click here and for the rating history of Mindspeed Technologies click here.
Shares of Mindspeed Technologies closed at $7.62 yesterday.
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