Needham & Company Maintains a 'Buy' on ANADIGICS (ANAD); Disappointing Results; Looking For New Product Ramp in 2H
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Price: $0.85 --0%
Rating Summary:
0 Buy, 6 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
0 Buy, 6 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company maintains a 'Buy' on ANADIGICS (NASDAQ: ANAD) price target of $3.50.
Analyst, N. Quinn Bolton, said, "ANAD reported slightly weaker than expected 1Q12 results as soft Wireless sales offset sequential growth in Broadband revenue. Additionally, 2Q12 sales will be below our prior model reflecting stable revenue in its non-RIM Wireless business and the continued ramp down of sales to RIM. Though we are disappointed by the weaker than expected near-term results, we continue to focus our investment thesis around design wins for new higher-ASP products that remain on track to ramp in 2H12 and should drive meaningful revenue growth in 2013."
FY12 EPS lowered from (0.65) to (0.75) and FY13 from (0.35) to (0.45)
For an analyst ratings summary and ratings history on ANADIGICS click here. For more ratings news on ANADIGICS click here.
Shares of ANADIGICS closed at $2.16 yesterday.
Analyst, N. Quinn Bolton, said, "ANAD reported slightly weaker than expected 1Q12 results as soft Wireless sales offset sequential growth in Broadband revenue. Additionally, 2Q12 sales will be below our prior model reflecting stable revenue in its non-RIM Wireless business and the continued ramp down of sales to RIM. Though we are disappointed by the weaker than expected near-term results, we continue to focus our investment thesis around design wins for new higher-ASP products that remain on track to ramp in 2H12 and should drive meaningful revenue growth in 2013."
FY12 EPS lowered from (0.65) to (0.75) and FY13 from (0.35) to (0.45)
For an analyst ratings summary and ratings history on ANADIGICS click here. For more ratings news on ANADIGICS click here.
Shares of ANADIGICS closed at $2.16 yesterday.
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