Needham & Company Cuts PT and Estimates on OCZ Technology Group (OCZ); A Fly In My Soup
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Price: $0.05 --0%
Rating Summary:
5 Buy, 4 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 6 | Down: 4 | New: 9
Rating Summary:
5 Buy, 4 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 6 | Down: 4 | New: 9
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Needham & Company maintains a 'Buy' on OCZ Technology Group (NASDAQ: OCZ) price target of $10.00 (from $14.00).
Analyst, Richard Kugele, said, "Sometimes it seems like there is always a fly in what would otherwise be a great soup with OCZ. In a quarter when revenues could have been nearly $140M (easily exceeding guidance) a component issue impacts shipments, discounting older inventory pressures margin (slightly) and EPS misses. Nevertheless, while not always the cleanest story, we fundamentally believe in 1) the core proprietary technology; 2) the brand presence; and 3) the pending ramps at meaningful OEMs of high-margin PCI-e solutions."
"Our revised estimates for F2Q are $130M/loss of $0.10 vs. $130M/$0.01. Our F2013 becomes $671M/$0.09 vs. $672M/$0.48. Our F2014 estimates become $1B/$1.14 vs. $1B/$1.40."
For an analyst ratings summary and ratings history on OCZ Technology Group click here. For more ratings news on OCZ Technology Group click here.
Shares of OCZ Technology Group closed at $5.45 yesterday.
Analyst, Richard Kugele, said, "Sometimes it seems like there is always a fly in what would otherwise be a great soup with OCZ. In a quarter when revenues could have been nearly $140M (easily exceeding guidance) a component issue impacts shipments, discounting older inventory pressures margin (slightly) and EPS misses. Nevertheless, while not always the cleanest story, we fundamentally believe in 1) the core proprietary technology; 2) the brand presence; and 3) the pending ramps at meaningful OEMs of high-margin PCI-e solutions."
"Our revised estimates for F2Q are $130M/loss of $0.10 vs. $130M/$0.01. Our F2013 becomes $671M/$0.09 vs. $672M/$0.48. Our F2014 estimates become $1B/$1.14 vs. $1B/$1.40."
For an analyst ratings summary and ratings history on OCZ Technology Group click here. For more ratings news on OCZ Technology Group click here.
Shares of OCZ Technology Group closed at $5.45 yesterday.
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