Canaccord Genuity Reiterates a 'Buy' on Standard Microsystems (SMSC); Citing Valuation, Momentum for Autos and Audio

Canaccord Genuity reiterates a 'Buy' on Standard Microsystems (NASDAQ: SMSC), raises PT to $33.

Canaccord analyst, Bobby Burleson, said, "We are reiterating a BUY rating and increasing our estimates for SMSC following strong CQ2 results and an upbeat analyst day. The company expects audio and automotive to drive growth going forward, laying out convincing cases for healthy CAGRs for each during its analyst presentation yesterday. With the impact of Japan behind them and low exposure to consumer PCs, we expect SMSC to deliver upside to our upwardly revised estimates."

For more ratings news on Standard Microsystems click here and for the rating history of Standard Microsystems click here.

Shares of Standard Microsystems closed at $26.31 yesterday.

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