Needham & Company Maintains a 'Hold' on Hutchinson Technology (HTCH); Reports Weak F4Q Results. Lowering Estimates Due To Flood Impact
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Price: $4.00 --0%
Rating Summary:
2 Buy, 2 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
2 Buy, 2 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 Hutchinson Technology (NASDAQ: HTCH).
Needham analyst says, "The tremendous flooding in Thailand continues to exact a heavy toll on the local populous and the tech supply chain in its path. Hutchinson has not been immune to this disaster. However, ironically, Hutchinson's excess capacity and the relatively early stage of its transition to Thailand enable the company to still meet the reduced industry demand at this time (and upside if necessary). Of course, the financial impact from lower volumes and redundant capacity remains an issue. Maintain Hold pending a resumption of growth and profitability." (Needham lowers FY12 EPS estimate from (0.19) to (3.04))
For more ratings news on Hutchinson Technology click here and for the rating history of Hutchinson Technology click here.
Shares of Hutchinson Technology closed at $1.65 yesterday.
Needham analyst says, "The tremendous flooding in Thailand continues to exact a heavy toll on the local populous and the tech supply chain in its path. Hutchinson has not been immune to this disaster. However, ironically, Hutchinson's excess capacity and the relatively early stage of its transition to Thailand enable the company to still meet the reduced industry demand at this time (and upside if necessary). Of course, the financial impact from lower volumes and redundant capacity remains an issue. Maintain Hold pending a resumption of growth and profitability." (Needham lowers FY12 EPS estimate from (0.19) to (3.04))
For more ratings news on Hutchinson Technology click here and for the rating history of Hutchinson Technology click here.
Shares of Hutchinson Technology closed at $1.65 yesterday.
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