Needham & Company Reiterates a 'Buy' on Silicon Image (SIMG); Seeing Upside to Results

Needham & Company reiterates a 'Buy' on Silicon Image (NASDAQ: SIMG) price target of $8.00.

Analyst, Rajvindra S. Gill, said, "We see upside to the topline for 1Q and 2Q, given positive data points from Samsung, Huawei, and ZTE. We believe MHL is tracking above expectations and we could see upside if Samsung shipments exceed estimates, or as Chinese handset vendors ramp production in 2H12. While the DirecTV (NYSE: DTV )market still presents a challenge, we believe MHL revenue will offset a continued DTV contraction. We believe MHL is not yet being properly reflected in current share price. SIMG aims to generate revenues from its 60Ghz chip in 2H13, which could present additional upside, even with a small penetration into handsets."

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 $5.33 yesterday.

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