Needham & Company Maintains a 'Hold' on STEC, Inc. (STEC); Modestly Higher 3Q Results, Weak Guide As Product Transition Woes And Competition Take N-T Toll

Needham & Company maintains a 'Hold' on STEC, Inc. (NASDAQ: STEC).

Needham analyst says, "Until early 2012, we expect that STEC will continue to bend under the weight of aggressive pricing from competitors in the highend
and the timing of new product rollouts. Therefore, in the near-term, we believe the stock will be range-bound in the $9-$11 area noting the valuation of recent transactions in the space (namely Pliant and SandForce) that support the low-end of that price range."

Needham lowers FY11 EPS estimate from $0.74 to $0.68 and FY12 from $1.09 to $0.08

For an analyst ratings summary and ratings history on STEC, Inc. click here. For more ratings news on STEC, Inc. click here.

Shares of STEC, Inc. closed at $11.70 yesterday.

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