Needham & Company Maintains a 'Buy' on Intermolecular (IMI); Strong Q1 on Continued Relationship Building
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Price: $1.20 --0%
Rating Summary:
2 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
2 Buy, 5 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 Intermolecular (NASDAQ: IMI) price target lowered from $13 to $10.
Analyst, Y. Edwin Mok, said, "IMI reported strong 1Q12 results and provided largely inline guidance. Despite the Elpida (NR) bankruptcy, IMI continued to work with this customer and has recently received payment for 2Q12. Beyond Elpida, IMI has renewed the CDP contract with SanDisk (Nasdaq: SNDK) / Toshiba (both NR), extended the scope of several existing CDPs and won important engagements in both semi and clean energy sectors. While the uncertainty surrounding Elpida could limit the stock in the near-term, we continue to believe its highly differentiated HPC solution and the royaltybearing revenue model will drive substantial growth over the longer-term."
"...we lower our 2012 revenue/non-GAAP EPS estimates from $60.7MM/$0.01 to $60.0MM/($0.05) and 2013 from $105MM/$0.63 to $84MM/ $0.33."
For an analyst ratings summary and ratings history on Intermolecular click here. For more ratings news on Intermolecular click here.
Shares of Intermolecular closed at $7.06 yesterday.
Analyst, Y. Edwin Mok, said, "IMI reported strong 1Q12 results and provided largely inline guidance. Despite the Elpida (NR) bankruptcy, IMI continued to work with this customer and has recently received payment for 2Q12. Beyond Elpida, IMI has renewed the CDP contract with SanDisk (Nasdaq: SNDK) / Toshiba (both NR), extended the scope of several existing CDPs and won important engagements in both semi and clean energy sectors. While the uncertainty surrounding Elpida could limit the stock in the near-term, we continue to believe its highly differentiated HPC solution and the royaltybearing revenue model will drive substantial growth over the longer-term."
"...we lower our 2012 revenue/non-GAAP EPS estimates from $60.7MM/$0.01 to $60.0MM/($0.05) and 2013 from $105MM/$0.63 to $84MM/ $0.33."
For an analyst ratings summary and ratings history on Intermolecular click here. For more ratings news on Intermolecular click here.
Shares of Intermolecular closed at $7.06 yesterday.
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