Needham & Company Maintains a 'Buy' on Xyratex (XRTX); F4Q11 Beats Estimates; Tweaking Outlook Up Slightly
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Price: $2.16 -1.37%
Rating Summary:
2 Buy, 7 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
2 Buy, 7 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company maintains a 'Buy' on Xyratex (NASDAQ: XRTX) price target raised from $13 to $17.
Needham analyst says, "XRTX reported a strong F4Q on NSS rev. upside, overall GM% upside and lower OPEX. Our F12 outlook is tweaked up mostly on one time $50M SI rev. benefit with NSS ~unchanged. XRTX issued wide guide range for F1Q on HDD supply uncertainties...XRTX F4Q non-GAAP EPS of $0.73 on $387.6M vs. our $0.34 on $365M, and street $0.33 on $359.5M. Revenue upside on continuing strength in NSS. SI in-line. GM 17.7% vs. our 16.4% est. with upside in both segments. Op-ex (ex. restructuring) $40.9M vs. our $44M, all contributing to EPS beat."
Needham raises FY12 EPS estimate from $1.57 to $1.72.
For an analyst ratings summary and ratings history on Xyratex click here. For more ratings news on Xyratex click here.
Shares of Xyratex closed at $14.16 yesterday.
Needham analyst says, "XRTX reported a strong F4Q on NSS rev. upside, overall GM% upside and lower OPEX. Our F12 outlook is tweaked up mostly on one time $50M SI rev. benefit with NSS ~unchanged. XRTX issued wide guide range for F1Q on HDD supply uncertainties...XRTX F4Q non-GAAP EPS of $0.73 on $387.6M vs. our $0.34 on $365M, and street $0.33 on $359.5M. Revenue upside on continuing strength in NSS. SI in-line. GM 17.7% vs. our 16.4% est. with upside in both segments. Op-ex (ex. restructuring) $40.9M vs. our $44M, all contributing to EPS beat."
Needham raises FY12 EPS estimate from $1.57 to $1.72.
For an analyst ratings summary and ratings history on Xyratex click here. For more ratings news on Xyratex click here.
Shares of Xyratex closed at $14.16 yesterday.
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