Benchmark Adjusts MoSys, Inc. (MOSY) to Speculative Buy; Bandwidth Engine Achieves First Design Wins

Benchmark changes rating on MoSys, Inc. (NASDAQ: MOSY) from Buy to Speculative Buy with a price target of $7.50.

Benchmark analyst says, "Based on evidence the development of MoSys' Bandwidth Engine IC is progressing according to plan, we are maintaining our positive stance. In accordance with The Benchmark Company's expanded rating system, we are changing our rating...MoSys Inc. reported 3Q11 results well below our expectations. The company achieved 3Q11 revenue of $2.1 million (down 36% q/q; down 44% y/y), which compares unfavorably to our $3.5 million estimate...All things considered, we are decreasing our 4Q11 revenue estimate from $3.9 million to $3.6 million. Due to better expense management, we are decreasing our 4Q11 non-GAAP loss/share estimate from ($0.11) to ($0.10)."

For more ratings news on MoSys, Inc. click here and for the rating history of MoSys, Inc. click here.

Shares of MoSys, Inc. closed at $3.65 yesterday.

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