Needham & Company Reiterates a 'Buy' on LeCroy (LCRY); Solid FQ2, Though Orders, As Expected, Off To Slow Start
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Price: $14.31 --0%
Rating Summary:
1 Buy, 1 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
Rating Summary:
1 Buy, 1 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
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Needham & Company reiterates a 'Buy' on LeCroy (NASDAQ: LCRY) price target lowered $1 to $16.
Needham analyst says, "LCRY, which earlier this month reaffirmed its FQ2 results, provided slightly lower guidance for the March quarter. LCRY generated record bookings, with the B-T-B at 1.0, although mgmt called out slower seasonal order intake in January. LCRY trimmed its full-year guidance for revenue growth to 12% from 12%-15% previously and expects 10-12% growth in non-GAAP net income. LCRY remains one of the more inexpensive micro-cap names in our universe, trading at less than 8x our F13 EPS estimate. We believe downside in the shares is limited and we reiterate our rating."
Needham cuts FY12 EPS estimate from $1.19 to $1.11 and FY13 from $1.40 to $1.32.
For an analyst ratings summary and ratings history on LeCroy click here. For more ratings news on LeCroy click here.
Shares of LeCroy closed at $10.11 yesterday.
Needham analyst says, "LCRY, which earlier this month reaffirmed its FQ2 results, provided slightly lower guidance for the March quarter. LCRY generated record bookings, with the B-T-B at 1.0, although mgmt called out slower seasonal order intake in January. LCRY trimmed its full-year guidance for revenue growth to 12% from 12%-15% previously and expects 10-12% growth in non-GAAP net income. LCRY remains one of the more inexpensive micro-cap names in our universe, trading at less than 8x our F13 EPS estimate. We believe downside in the shares is limited and we reiterate our rating."
Needham cuts FY12 EPS estimate from $1.19 to $1.11 and FY13 from $1.40 to $1.32.
For an analyst ratings summary and ratings history on LeCroy click here. For more ratings news on LeCroy click here.
Shares of LeCroy closed at $10.11 yesterday.
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