Needham & Company Reiterates a 'Hold' on Supertex (SUPX); Challenging Environment Continues
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Price: $6.99 +0.58%
Rating Summary:
1 Buy, 1 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
1 Buy, 1 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company reiterates a 'Hold' on Supertex (NASDAQ: SUPX).
Needham analyst says, "SUPX posted DecQ3 revenue of $14.1M that was just above its pre-announced range of $13.5-$14.0M, which was below the original $16M guide. However, EPS of $0.07 was above consensus of $0.04. The MarQ4 revenue guidance of flat Q/Q mirrors most of SUPX's peers this earnings season and is just below consensus of $14.5M. Mgmt attributed the depressed DecQ3 revenue levels to a soft global market and a general lack of visibility from its customers. Earnings were also adversely impacted by lower than expected GM (38% vs. our 45% estimate) as management took on greater inventory E&O charges than anticipated. Near-term SUPX sees revenue growth in Medical offset by the consumer markets. We lowered FY12 revenue/EPS from $63M/$0.55 to $63M/$0.50 and our FY13 revenue/EPS from $67M/$0.65 to $67M/$0.55. While there are several new products in SUPX's pipeline we are inclined to wait until the macro demand resumes and tangible results are seen in the top line before getting constructive on SUPX shares."
For an analyst ratings summary and ratings history on Supertex click here. For more ratings news on Supertex click here.
Shares of Supertex closed at $18.43 yesterday.
Needham analyst says, "SUPX posted DecQ3 revenue of $14.1M that was just above its pre-announced range of $13.5-$14.0M, which was below the original $16M guide. However, EPS of $0.07 was above consensus of $0.04. The MarQ4 revenue guidance of flat Q/Q mirrors most of SUPX's peers this earnings season and is just below consensus of $14.5M. Mgmt attributed the depressed DecQ3 revenue levels to a soft global market and a general lack of visibility from its customers. Earnings were also adversely impacted by lower than expected GM (38% vs. our 45% estimate) as management took on greater inventory E&O charges than anticipated. Near-term SUPX sees revenue growth in Medical offset by the consumer markets. We lowered FY12 revenue/EPS from $63M/$0.55 to $63M/$0.50 and our FY13 revenue/EPS from $67M/$0.65 to $67M/$0.55. While there are several new products in SUPX's pipeline we are inclined to wait until the macro demand resumes and tangible results are seen in the top line before getting constructive on SUPX shares."
For an analyst ratings summary and ratings history on Supertex click here. For more ratings news on Supertex click here.
Shares of Supertex closed at $18.43 yesterday.
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