Needham & Company Maintains a 'Buy' on ARRIS Group (ARRS); 3.0 E-MTAs Surge
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Price: $31.66 --0%
Rating Summary:
5 Buy, 11 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
5 Buy, 11 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 ARRIS Group (NASDAQ: ARRS) price target raised $1 to $15.
Analyst, Richard Valera, said, "ARRIS delivered surprisingly strong 1Q12 results and guidance, apparently on a surge in demand for DOCSIS 3.0 E-MTAs and modems driven by a Comcast upgrade program. While this shift towards E-MTAs should drive margins lower than previously expected, and we are mindful that program driven order surges can be potentially followed by much lighter periods as inventories are worked down, we nonetheless view the surprising strength positively. As well, the Moxi-home gateway, which was light in 1Q, is still expected to ramp strongly in 2H12 and should help offset some of the likely decline in E-MTA demand in 2H...We increase our revenue while lowering our GM for ’12 and ’13. 2012 goes to $1.30B/$0.87 from $1.25/$0.78 and 2013 goes to
$1.37B/$1.04 from $1.34B/$1.03."
For an analyst ratings summary and ratings history on ARRIS Group click here. For more ratings news on ARRIS Group click here.
Shares of ARRIS Group closed at $11.70 yesterday.
Analyst, Richard Valera, said, "ARRIS delivered surprisingly strong 1Q12 results and guidance, apparently on a surge in demand for DOCSIS 3.0 E-MTAs and modems driven by a Comcast upgrade program. While this shift towards E-MTAs should drive margins lower than previously expected, and we are mindful that program driven order surges can be potentially followed by much lighter periods as inventories are worked down, we nonetheless view the surprising strength positively. As well, the Moxi-home gateway, which was light in 1Q, is still expected to ramp strongly in 2H12 and should help offset some of the likely decline in E-MTA demand in 2H...We increase our revenue while lowering our GM for ’12 and ’13. 2012 goes to $1.30B/$0.87 from $1.25/$0.78 and 2013 goes to
$1.37B/$1.04 from $1.34B/$1.03."
For an analyst ratings summary and ratings history on ARRIS Group click here. For more ratings news on ARRIS Group click here.
Shares of ARRIS Group closed at $11.70 yesterday.
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