Goldman Sachs Downgrades PMC-Sierra (PMCS) to Neutral On Low Visiblity and Delayed Product Ramp

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January 3, 2012 7:58 AM EST
Get Alerts PMCS Hot Sheet
Price: $11.65 --0%

Rating Summary:
    3 Buy, 9 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 13 | Down: 14 | New: 11
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Goldman Sachs downgraded PMC-Sierra (NASDAQ: PMCS) from Buy to Neutral with a price target of $6 (down from $7).

The firm sees limited visibility into a recovery in the comms business and said it will at least be until the 2nd-half of 2012 before new product cycles begin to ramp strongly.

For an analyst ratings summary and ratings history on PMC-Sierra click here. For more ratings news on PMC-Sierra click here.

Shares of PMC-Sierra closed at $5.51 yesterday.

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