Needham & Company Downgrades OCZ Technology Group (OCZ) to Hold; Execution Continues to be Inconsistent

Needham & Company downgraded OCZ Technology Group (NASDAQ: OCZ) from Buy to Hold.

Analyst, Richard Kugele, said, "The perception of inconsistent execution on guidance and supply chain management continues to mar what otherwise would be a major success story, in our view. We see OCZ’s opportunity as quite substantial, but only if it executes. Because of weak visibility into performance, component availability and working capital, we are downgrading to Hold."

FY13 EPS estimate slashed from $0.09 to (0.49) and FY14 from $1.14 to $0.21.

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 $5.36 yesterday.

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