Needham & Company Maintains a 'Buy' on Quantum Corp. (QTM); Cutting Estimates

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January 26, 2012 10:04 AM EST
Get Alerts QTM Hot Sheet
Price: $1.62 --0%

Rating Summary:
    3 Buy, 3 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 Quantum Corp. (NYSE: QTM) price target cut from $4.00 to $3.75.

Needham analyst says, "QTM reported an essentially in-line F3Q led by growth in midrange DXi, StorNext, and branded tape offset by weak enterprise DXi. Although F4Q guide is just slightly below Street, QTM continues to make progress on its initiatives to ramp recently introduced disk/software products and improve channel/sales execution."

FY12 EPS estimate lowered from $0.17 to $0.15 and FY13 from $0.24 to $0.16.

For an analyst ratings summary and ratings history on Quantum Corp. click here. For more ratings news on Quantum Corp. click here.

Shares of Quantum Corp. closed at $2.81 yesterday.

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