Needham & Company Maintains a 'Hold' on Pulse Electronics (PULS); Reducing Estimates for Macro – Driven Softness
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Price: $49.64 +0.04%
Rating Summary:
0 Buy, 1 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
0 Buy, 1 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company maintains a 'Hold' on Pulse Electronics (NYSE: PULS) price target of $0.00.
Needham analyst says, "Consistent with our Components industry note today, we believe Pulse Electronics (among other component providers) has seen some softness materialize in its business and that demand is somewhat sluggish. We expect this dynamic to continue in the near-term although the potential rebuild of the company’s antenna business could provide a boost to 2012 (we remain cautious on the prospect at present)."
"Presently, we suspect PULS could still reach its prior revenue guidance for 3Q of $94-100 million while 4Q presents slightly more questions. As we look to 2012, we expect antennas could contribute more meaningfully, but we have very little assumed at present. Specifically for 3Q, we now forecast $94 million and a loss of $0.02 (ex. opt.), down from our prior $97 million and loss of $0.01. For 2011, our estimates become $377 million & $0.03 (ex. opt.), vs. our previous $387 million & $0.08."
For more ratings news on Pulse Electronics click here and for the rating history of Pulse Electronics click here.
Shares of Pulse Electronics closed at $2.98 yesterday.
Needham analyst says, "Consistent with our Components industry note today, we believe Pulse Electronics (among other component providers) has seen some softness materialize in its business and that demand is somewhat sluggish. We expect this dynamic to continue in the near-term although the potential rebuild of the company’s antenna business could provide a boost to 2012 (we remain cautious on the prospect at present)."
"Presently, we suspect PULS could still reach its prior revenue guidance for 3Q of $94-100 million while 4Q presents slightly more questions. As we look to 2012, we expect antennas could contribute more meaningfully, but we have very little assumed at present. Specifically for 3Q, we now forecast $94 million and a loss of $0.02 (ex. opt.), down from our prior $97 million and loss of $0.01. For 2011, our estimates become $377 million & $0.03 (ex. opt.), vs. our previous $387 million & $0.08."
For more ratings news on Pulse Electronics click here and for the rating history of Pulse Electronics click here.
Shares of Pulse Electronics closed at $2.98 yesterday.
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