Needham & Company Upgrades Mindspeed Technologies (MSPD) to Buy; Results and Guidance Prove the Inventory Overhang is in the Rearview
Get Alerts MSPD Hot Sheet
Price: $5.04 --0%
Rating Summary:
3 Buy, 2 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 15 | Down: 11 | New: 13
Rating Summary:
3 Buy, 2 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 15 | Down: 11 | New: 13
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Needham & Company upgraded Mindspeed Technologies (NASDAQ: MSPD) from Hold to Buy.
Needham analyst says, "MSPD reported F2Q11 results and issued F3Q11 guidance that were each slightly better than our and consensus expectations and mark the first estimate beat since July 2010. With the OTN and optical PMD business driving HPA strength, FTTx orders rebounding strongly, excess enterprise VoIP inventory being worked down and legacy WAN communications revenue stabilizing, we are taking this opportunity to turn more positive on MSPD shares. We believe consensus Street expectations have been reset after falling steeply over the past two quarters and that substantial operating leverage, which was a negative
headwind on the way down, will now drive EPS upside as the core CCP and HPA businesses drive top-line growth."
For more ratings news on Mindspeed Technologies click here and for the rating history of Mindspeed Technologies click here.
Shares of Mindspeed Technologies closed at $8.19 yesterday.
Needham analyst says, "MSPD reported F2Q11 results and issued F3Q11 guidance that were each slightly better than our and consensus expectations and mark the first estimate beat since July 2010. With the OTN and optical PMD business driving HPA strength, FTTx orders rebounding strongly, excess enterprise VoIP inventory being worked down and legacy WAN communications revenue stabilizing, we are taking this opportunity to turn more positive on MSPD shares. We believe consensus Street expectations have been reset after falling steeply over the past two quarters and that substantial operating leverage, which was a negative
headwind on the way down, will now drive EPS upside as the core CCP and HPA businesses drive top-line growth."
For more ratings news on Mindspeed Technologies click here and for the rating history of Mindspeed Technologies click here.
Shares of Mindspeed Technologies closed at $8.19 yesterday.
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