Needham & Company Maintains a 'Hold' on STEC, Inc. (STEC); Cutting Estimates After Mixed Results

Needham & Company maintains a 'Hold' on STEC, Inc. (NASDAQ: STEC).

Analyst, Richard Kugele, said, "While STEC’s mixed 1Q results were not far from guidance, the commentary of further delays in customer qualifications and
ramps (and its impact on guidance) were most disappointing. We are further reducing our outlook for subsequent quarters, with limited visibility into the timing or magnitude of a turnaround in the operations (note that breakeven revenue is ~$65M)."

Needham lowers FY12 EPS loss from (0.17) to (0.72) and FY13 estimate from $0.32 to $0.24.
P/E

For an analyst ratings summary and ratings history on STEC, Inc. click here. For more ratings news on STEC, Inc. click here.

Shares of STEC, Inc. closed at $7.70 yesterday.

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