Needham & Company Upgrades FSI International (FSII) to Buy; Believe the Single-Wafer Ramp Has Finally Arrived
Get Alerts FSII Hot Sheet
Price: $9.80 --0%
Rating Summary:
0 Buy, 1 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
Rating Summary:
0 Buy, 1 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
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Needham & Company upgraded FSI International (NASDAQ: FSII) from Hold to Buy.
Needham analyst says, "We are upgrading FSII as we believe its single-wafer ORION business will meaningfully ramp in the August quarter and beyond. Our increased confidence follows the announced ORION acceptance and orders from multiple customers. While shares have pulled back due to yesterday’s negative preannouncement, we believe that ORION revenue growth, coupled with multiple wins for its ANTARES clean product, will offset a slowdown of its core ZETA product. With the stock trading at just 7X CY12 P/E, we view the risk/ reward as favorable and recommend investors use the share weakness as a buying opportunity. We believe that FSII will outperform peers, and assign a PT of $5.50."
For more ratings news on FSI International click here and for the rating history of FSI International click here.
Shares of FSI International closed at $4.04 yesterday.
Needham analyst says, "We are upgrading FSII as we believe its single-wafer ORION business will meaningfully ramp in the August quarter and beyond. Our increased confidence follows the announced ORION acceptance and orders from multiple customers. While shares have pulled back due to yesterday’s negative preannouncement, we believe that ORION revenue growth, coupled with multiple wins for its ANTARES clean product, will offset a slowdown of its core ZETA product. With the stock trading at just 7X CY12 P/E, we view the risk/ reward as favorable and recommend investors use the share weakness as a buying opportunity. We believe that FSII will outperform peers, and assign a PT of $5.50."
For more ratings news on FSI International click here and for the rating history of FSI International click here.
Shares of FSI International closed at $4.04 yesterday.
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