Needham & Company Reiterates a 'Buy' on Standard Microsystems (SMSC); Automotive Motoring Onward
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Price: $36.98 --0%
Rating Summary:
3 Buy, 1 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
Rating Summary:
3 Buy, 1 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
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Needham & Company reiterates a 'Buy' on Standard Microsystems (NASDAQ: SMSC) price target of $29.00.
Needham analyst says, "SMSC was one of a handful of stops on our Austin Bus Tour of semiconductor companies. Given that SMSC’s original Automotive heritage was in Austin (and Germany) via the purchase of OASIS SiliconSystems back in 2005, it is no surprise that automotive was a focal point of the visit and incidentally is now one of the stronger legs to SMSC’s growth story. CEO Chris King and GM of Computing & Connectivity, Robert Hollingsworth, hosted and fielded questions from investors. Beyond Automotive, management discussed its USB strategy to provide differentiated functionality such as hubs and smart power. The outlook for Computing and Consumer remains murky and mgmt indicated that its OEM customers appear to be lacking resolve on their product roadmaps in areas like notebook PC and TV. Wireless audio is a bright spot in SMSC’s story and management views this as a revenue driver."
For more ratings news on Standard Microsystems click here and for the rating history of Standard Microsystems click here.
Shares of Standard Microsystems closed at $24.95 yesterday.
Needham analyst says, "SMSC was one of a handful of stops on our Austin Bus Tour of semiconductor companies. Given that SMSC’s original Automotive heritage was in Austin (and Germany) via the purchase of OASIS SiliconSystems back in 2005, it is no surprise that automotive was a focal point of the visit and incidentally is now one of the stronger legs to SMSC’s growth story. CEO Chris King and GM of Computing & Connectivity, Robert Hollingsworth, hosted and fielded questions from investors. Beyond Automotive, management discussed its USB strategy to provide differentiated functionality such as hubs and smart power. The outlook for Computing and Consumer remains murky and mgmt indicated that its OEM customers appear to be lacking resolve on their product roadmaps in areas like notebook PC and TV. Wireless audio is a bright spot in SMSC’s story and management views this as a revenue driver."
For more ratings news on Standard Microsystems click here and for the rating history of Standard Microsystems click here.
Shares of Standard Microsystems closed at $24.95 yesterday.
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