Needham & Company Reiterates a 'Buy' on Silicon Image (SIMG); Positive Data Points from Mobile World Congress
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Price: $7.28 --0%
Rating Summary:
1 Buy, 2 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
1 Buy, 2 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company reiterates a 'Buy' on Silicon Image (NASDAQ: SIMG) price target of $8.00.
Analyst, Rajvindra S. Gill, said, "We came away incrementally more positive on SIMG during our trip at Mobile World Congress this week. SIMO announced MHL new design wins with HTC, LG, Huawei, and ZTE. While Samsung did not announce the Galaxy S3 at MWC, we believe Samsung is committed to MHL, and we should see continued growth. Moreover, we were impressed with SIMG’s 60Ghz wireless HD technology, which by far is a superior wireless technology for transmitting, uncompressed HD video/audio for mobile-DTV, in our view. SIMG’s shares have been under pressure since earnings mainly because there still exists a DTV overhang among investors. While it’s true the DTV segment will contract this year, and will not be a major growth driver for the company in the future, we believe SIMG has a multi-year growth story in MHL and 60Ghz, which is not being properly reflected in the share price." (Needham lowers FY12 EPS from $0.30 to $0.20)
For an analyst ratings summary and ratings history on Silicon Image click here. For more ratings news on Silicon Image click here.
Shares of Silicon Image closed at $5.34 yesterday.
Analyst, Rajvindra S. Gill, said, "We came away incrementally more positive on SIMG during our trip at Mobile World Congress this week. SIMO announced MHL new design wins with HTC, LG, Huawei, and ZTE. While Samsung did not announce the Galaxy S3 at MWC, we believe Samsung is committed to MHL, and we should see continued growth. Moreover, we were impressed with SIMG’s 60Ghz wireless HD technology, which by far is a superior wireless technology for transmitting, uncompressed HD video/audio for mobile-DTV, in our view. SIMG’s shares have been under pressure since earnings mainly because there still exists a DTV overhang among investors. While it’s true the DTV segment will contract this year, and will not be a major growth driver for the company in the future, we believe SIMG has a multi-year growth story in MHL and 60Ghz, which is not being properly reflected in the share price." (Needham lowers FY12 EPS from $0.30 to $0.20)
For an analyst ratings summary and ratings history on Silicon Image click here. For more ratings news on Silicon Image click here.
Shares of Silicon Image closed at $5.34 yesterday.
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