Needham & Company Maintains a 'Buy' on Volterra Semiconductor (VLTR); Positive Tone From Meeting With Management

Needham & Company maintains a 'Buy' on Volterra Semiconductor (NASDAQ: VLTR) price target of $33.00.

Analyst, Vernon Essi, Jr, said, "We visited with both the CEO and CFO of VLTR to get an update on the tone of business into the Server and Notebook markets. As we expected business is tracking to plan and management is seeing Romley production ramps in server as two major customers commence shipments this week and next, and Notebook customers are ramping production despite the slight delays of Chief River. We also heard an overview of the organizational changes that CEO Staszak implemented to migrate VLTR towards a product group structure as it grows annual revenue beyond the $250M milestone with sights to get to $500M. While we realize VLTR shares have been a relatively strong performer, we still see a high likelihood of PE expansion given its strong growth and likely earnings improvements in 2012."

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 $31.93 yesterday.

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