Needham & Company Maintains a 'Buy' on Integrated Silicon Solution (ISSI); Consumer and Communications Markets Bottomed

Needham & Company maintains a 'Buy' on Integrated Silicon Solution (NASDAQ: ISSI) price target of $13.00.

Analyst, Rajvindra S. Gill, said, "We maintain our Buy on ISSI and $13 PT following a solid quarter and guidance considering the soft macroeconomic environment. ISSI saw weakness in the consumer and communications markets, both of which we believe have bottomed in 1Q and will begin to see a rebound in 2Q. ISSI demonstrated strength in secular trends of automotives and industrials, helping to offset softness in other markets...We are lowering our FY12 estimates to $260.2MM/$0.93 (vs. $261.2MM/$0.95). FY13 estimates remain unchanged at $280MM/$1.05."

For an analyst ratings summary and ratings history on Integrated Silicon Solution click here. For more ratings news on Integrated Silicon Solution click here.

Shares of Integrated Silicon Solution closed at $10.67 yesterday.

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