Needham & Company Maintains a 'Hold' on Mattson Technology (MTSN); Changing CFO Signals Increased Focus on Costs

Needham & Company maintains a 'Hold' on Mattson Technology (NASDAQ: MTSN).

Nedham analyst says, "Over the last two years, despite revenue growth outpacing the industry, MTSN stock has underperformed the peer group. In our opinion, this is due to the company’s inability to stem ongoing losses. Although the departure of an executive typically increases risk, we believe a new Chief Financial Officer could be just what MTSN needs to drive a fresh round of cost cutting. While the business environment has deteriorated, we believe customer adoptions of new etch and RTP products will enable MTSN to continue to outgrow the industry. We will be more aggressive on the stock if we start to see signs of achieving profitability...Our 2011 EPS is lowered to ($0.36) and 2012 to ($0.08)."

For more ratings news on Mattson Technology click here and for the rating history of Mattson Technology click here.

Shares of Mattson Technology closed at $1.35 yesterday.

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