Needham & Company Maintains a 'Hold' on MEMC Electronic (WFR); No Specific Guidance as Business Remains Challenging
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Price: $8.07 --0%
Rating Summary:
4 Buy, 5 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
4 Buy, 5 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company maintains a 'Hold' on MEMC Electronic Materials (NYSE: WFR).
Analyst, Y. Edwin Mok, said, "As expected, WFR reported a weak 4Q11 and decided to forgo providing specific revenue guidance. Beyond the tough business environment, WFR’s less than competitive cost structure and increased debt load is limiting its solar business. Additionally, we believe a recovery in the semi sector may not be as strong as the company’s prediction. Given the ongoing challenges the company is facing, we recommend investors remain defensive on the name."
"We lower our 2012 non-GAAP EPS estimate to ($0.30) from $0.49 on weaker semi fundamentals and our 2013 to $0.07." (FY revs cut from $3.34 bln to $2.58 bln)
For an analyst ratings summary and ratings history on MEMC Electronic Materials click here. For more ratings news on MEMC Electronic Materials click here.
Shares of MEMC Electronic Materials closed at $4.65 yesterday.
Analyst, Y. Edwin Mok, said, "As expected, WFR reported a weak 4Q11 and decided to forgo providing specific revenue guidance. Beyond the tough business environment, WFR’s less than competitive cost structure and increased debt load is limiting its solar business. Additionally, we believe a recovery in the semi sector may not be as strong as the company’s prediction. Given the ongoing challenges the company is facing, we recommend investors remain defensive on the name."
"We lower our 2012 non-GAAP EPS estimate to ($0.30) from $0.49 on weaker semi fundamentals and our 2013 to $0.07." (FY revs cut from $3.34 bln to $2.58 bln)
For an analyst ratings summary and ratings history on MEMC Electronic Materials click here. For more ratings news on MEMC Electronic Materials click here.
Shares of MEMC Electronic Materials closed at $4.65 yesterday.
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