Needham & Company Maintains a 'Buy' on Volterra Semiconductor (VLTR); Delivering the Goods

Needham & Company maintains a 'Buy' on Volterra Semiconductor (NASDAQ: VLTR) price target raised from $28 to $33.

Needham analyst says, "VLTR reported Q4 revenue just ahead of consensus and posted EPS materially above estimates on robust GM. The Q1 revenue guide of slight growth is just above the Street and should put to rest growing concerns by investors that the next Q could be seasonally weak because of Notebook. Most of the end segments were relatively in line with our expectations on a proportional basis while GM is tracking ahead of our model due to offshore cost improvements in China and a favorable mix that should continue as cost improved Notebook revenue – the Chief River solutions will be built on 0.18μ process – hits full throttle. Both Sever and Notebook look to deliver twin engine performance in Q2 and according to management should deliver very robust Q/Q revenue growth."

"We adjusted our aggressive 2012 revenue/EPS from $195M/$1.70 to $192M/$1.60 and our 2013 revenue/EPS from $210M/$1.85 to $211M/$1.85."

For an analyst ratings summary and ratings history on Volterra Semiconductor click here. For more ratings news on Volterra Semiconductor click here.

Shares of Volterra Semiconductor closed at $28.86 yesterday.

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