Needham & Company Reiterates a 'Buy' on FSI International (FSII); While Earnings Guidance is Weak, Bookings Are Expected to Rebound

Needham & Company reiterates a 'Buy' on FSI International (NASDAQ: FSII) price target of $3.00.

Needham analyst says, "FSII's F4Q11 (Aug) earnings missed consensus despite higher revenue. Although the company provided lower revenue and earnings guidance, orders are expected to increase significantly and revenue should rebound in the following February quarter. We believe increased orders are driven by leading chipmakers returning to higher capital spending in C1H11. We believe the single-wafer clean subsector will outgrow WFE over the next 2 years and FSII is a unique small-cap name with an improved position to gain share. At below 1X TBV, we believe FSII looks attractive here." (Needham lowers FY12 EPS estimates from $0.16 to $0.09)

For more ratings news on FSI International click here and for the rating history of FSI International click here.

Shares of FSI International closed at $2.11 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
• Optimum Communications gets NYSE non-compliance notice over stock price
• Coherent (COHR) PT Raised to $420 at Needham