Needham & Company Starts Entropic (ENTR) at Buy; Strong Secular Play in Semiconductors

Needham & Company initiates coverage on Entropic (NASDAQ: ENTR) with a Buy. PT $8.00.

Analyst, Rajvindra S. Gill, said, "Despite the recent jump in the stock price following the positive 2Q12 preannouncement, we continue to see upside for the shares. With the acquisition of Trident’s set-top box assets, we believe ENTR can gain share in the set-top box SoC market and continue to benefit from MoCA deployments globally. Moreover, the positive announcement should assuage some investor concerns regarding the viability of Trident’s set-top box segment. We believe ENTR can get to $8/share on the growth of its core connectivity business and market share gains in the set-top SoC market."

For an analyst ratings summary and ratings history on Entropic click here. For more ratings news on Entropic click here.

Shares of Entropic closed at $5.42 yesterday.

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