Needham & Company Maintains a 'Hold' on Power-One (PWER); Negative 3Q11 Preannouncement Due to Slower than Anticipated Demand
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Price: $45.05 +0.54%
Rating Summary:
5 Buy, 7 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
5 Buy, 7 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company maintains a 'Hold' on Power-One (NASDAQ: PWER).
Needham analyst says, "Yesterday after market close, PWER reduced 3Q11 revenue guidance due to macro uncertainty affecting both renewable and power businesses. While we believe PWER continues to penetrate the North American and Asian markets, slow demand and excess supply in the European solar inverter markets will limit PWER from delivering top/bottom line growth over the next few quarters. Additionally, macro uncertainty will likely weigh on its traditional power business. The stock does not look expensive at a 2012 P/E of 7-8X, but we recommend investors wait for signs of improving business conditions before getting aggressive...We lower our 2011 non-GAAP EPS estimates to $0.78 and 2012 to $0.66 on lower revenue and margin estimates."
For more ratings news on Power-One click here and for the rating history of Power-One click here.
Shares of Power-One closed at $5.04 yesterday.
Needham analyst says, "Yesterday after market close, PWER reduced 3Q11 revenue guidance due to macro uncertainty affecting both renewable and power businesses. While we believe PWER continues to penetrate the North American and Asian markets, slow demand and excess supply in the European solar inverter markets will limit PWER from delivering top/bottom line growth over the next few quarters. Additionally, macro uncertainty will likely weigh on its traditional power business. The stock does not look expensive at a 2012 P/E of 7-8X, but we recommend investors wait for signs of improving business conditions before getting aggressive...We lower our 2011 non-GAAP EPS estimates to $0.78 and 2012 to $0.66 on lower revenue and margin estimates."
For more ratings news on Power-One click here and for the rating history of Power-One click here.
Shares of Power-One closed at $5.04 yesterday.
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