Needham & Company Maintains a 'Hold' on Supertex (SUPX); Cutting Estimates After Soft Quarter
Tweet
Share
E-mailGet Alerts SUPX Hot Sheet
Price: $6.99 +0.58%
Rating Summary:
1 Buy, 1 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
1 Buy, 1 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Join SI Premium – FREE
Needham & Company maintains a 'Hold' on Supertex (NASDAQ: SUPX).
Analyst, Vernon Essi, Jr., said, "SUPX posted JunQ1 revenue of $16.1M and EPS of $0.11; both were below consensus estimates of $17M in revenue and $0.12 EPS. The SepQ2 revenue guidance of flat to down 5% is about 13% below consensus and 10% below our revenue estimate at the midpoint of the range. The weakest end market in the quarter was Medical ultrasound which fell 21% Q/Q and the previously discussed high-end LED backlit monitor program that was ramping was pushed out a quarter prompting a 13% Q/Q decline in LED though it is expected to reverse in SepQ2. We reduced our FY13 revenue/EPS from $70M/$0.65 to $66M/$0.50 and our FY14 revenue/EPS of $75M/$0.75 to $75M/$0.70. While SUPX management is making progress internally on the cost front, we would rather wait for a broader recovery in semis and more consistency in the top line before getting constructive on SUPX shares."
For an analyst ratings summary and ratings history on Supertex click here. For more ratings news on Supertex click here.
Shares of Supertex closed at $16.66 yesterday.
Analyst, Vernon Essi, Jr., said, "SUPX posted JunQ1 revenue of $16.1M and EPS of $0.11; both were below consensus estimates of $17M in revenue and $0.12 EPS. The SepQ2 revenue guidance of flat to down 5% is about 13% below consensus and 10% below our revenue estimate at the midpoint of the range. The weakest end market in the quarter was Medical ultrasound which fell 21% Q/Q and the previously discussed high-end LED backlit monitor program that was ramping was pushed out a quarter prompting a 13% Q/Q decline in LED though it is expected to reverse in SepQ2. We reduced our FY13 revenue/EPS from $70M/$0.65 to $66M/$0.50 and our FY14 revenue/EPS of $75M/$0.75 to $75M/$0.70. While SUPX management is making progress internally on the cost front, we would rather wait for a broader recovery in semis and more consistency in the top line before getting constructive on SUPX shares."
For an analyst ratings summary and ratings history on Supertex click here. For more ratings news on Supertex click here.
Shares of Supertex closed at $16.66 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- ICICI Securities Downgrades Manappuram Finance Ltd (MGFL:IN) to Hold (3)
- JPMorgan Downgrades York Space Systems (YSS) to Neutral
- JPMorgan Downgrades PLDT Inc. (TEL:PM) (PHI) to Neutral
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS ViewRelated Entities
Needham & CompanySign 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!
