Needham & Company Maintains a 'Hold' on MEMC Electronic Materials (WFR); Trough At Semi Wafer Business, Solar Still A Challenge
Tweet
Share
E-mailGet Alerts WFR Hot Sheet
Price: $8.07 --0%
Rating Summary:
4 Buy, 5 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
4 Buy, 5 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Join SI Premium – FREE
Needham & Company maintains a 'Hold' on MEMC Electronic Materials (NYSE: WFR).
Analyst, Y. Edwin Mok, said, "WFR reported better than expected 1Q12 revenue but disappointing earnings. While outlook implies higher revenues in 2Q12, the updated full year outlook implies lower sales for the year. Semi wafer business appears to have troughed in 1Q12 and margins should return to positive by 2H12. Despite executing restructuring programs, which should drive cost down, we expect continued losses well into 2013 due to falling prices for solar and a slow recovery in semi. While some may call 1Q12 a trough, we would rather wait for clearer signs of profitability before getting aggressive on the name."
Needham slashes estimates from (0.30) to (0.50) and FY13 from 0.07 to a loss of (0.05).
For an analyst ratings summary and ratings history on MEMC Electronic Materials click here. For more ratings news on MEMC Electronic Materials click here.
Shares of MEMC Electronic Materials closed at $3.25 yesterday.
Analyst, Y. Edwin Mok, said, "WFR reported better than expected 1Q12 revenue but disappointing earnings. While outlook implies higher revenues in 2Q12, the updated full year outlook implies lower sales for the year. Semi wafer business appears to have troughed in 1Q12 and margins should return to positive by 2H12. Despite executing restructuring programs, which should drive cost down, we expect continued losses well into 2013 due to falling prices for solar and a slow recovery in semi. While some may call 1Q12 a trough, we would rather wait for clearer signs of profitability before getting aggressive on the name."
Needham slashes estimates from (0.30) to (0.50) and FY13 from 0.07 to a loss of (0.05).
For an analyst ratings summary and ratings history on MEMC Electronic Materials click here. For more ratings news on MEMC Electronic Materials click here.
Shares of MEMC Electronic Materials closed at $3.25 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- JD.com (JD) Reiterated at Buy by Benchmark Amid Earnings Recovery
- Movano (MOVE) Misses Q2 EPS by 195c
- Newton Golf Company (NWTG) Reports Q2 Loss of $0.49
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS ViewRelated Entities
Needham & Company, EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
