Benchmark Maintains a 'Buy' on EZchip Semiconductor (EZCH); Adjusting Numbers; Carrier-Grade Equipment Bookings Accelerating; NP-4 Ramping
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Price: $25.49 --0%
Rating Summary:
5 Buy, 6 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 16 | Down: 11 | New: 13
Rating Summary:
5 Buy, 6 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 16 | Down: 11 | New: 13
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Benchmark maintains a 'Buy' on EZchip Semiconductor (NASDAQ: EZCH) price target raised from $41 to $49.
Analyst, Gary Mobley, said, "We are increasing our price target on shares of EZchip based on our increased confidence the company's 2H12 revenue should materially accelerate and based on our confidence the company's NP-4 product cycle could lead to ~ $200 million+ in annual revenue by FY15 (up from $63.5 millions in FY10)."
"We are trimming our 2Q12 revenue/EPS estimates based on lingering carrier capital spending weakness during 1Q12. For FY12, we are trimming our revenue/EPS (non-GAAP) estimates from $74.2 million/$1.43 to $72.7million/$1.35. There are, however, signs carriers should accelerate capital spending initiatives by 2H FY12. For example, Adtran (Nasdaq: ADTN) recently talked about accelerating carrier orders, although the access telco equipment provider experienced a weaker-than-expected start to the March quarter. China Mobile (NYSE: CHL) plans to accelerate 4G base station builds during FY12. AT&T (NYSE: T) and T-Mobile plan to accelerate wireless cap ex in the US following the failed merger. We are increasing our FY13 revenue/EPS estimates for EZchip based on the strong market potential and the design win footprint for NP-4."
For an analyst ratings summary and ratings history on EZchip Semiconductor click here. For more ratings news on EZchip Semiconductor click here.
Shares of EZchip Semiconductor closed at $42.92 yesterday.
Analyst, Gary Mobley, said, "We are increasing our price target on shares of EZchip based on our increased confidence the company's 2H12 revenue should materially accelerate and based on our confidence the company's NP-4 product cycle could lead to ~ $200 million+ in annual revenue by FY15 (up from $63.5 millions in FY10)."
"We are trimming our 2Q12 revenue/EPS estimates based on lingering carrier capital spending weakness during 1Q12. For FY12, we are trimming our revenue/EPS (non-GAAP) estimates from $74.2 million/$1.43 to $72.7million/$1.35. There are, however, signs carriers should accelerate capital spending initiatives by 2H FY12. For example, Adtran (Nasdaq: ADTN) recently talked about accelerating carrier orders, although the access telco equipment provider experienced a weaker-than-expected start to the March quarter. China Mobile (NYSE: CHL) plans to accelerate 4G base station builds during FY12. AT&T (NYSE: T) and T-Mobile plan to accelerate wireless cap ex in the US following the failed merger. We are increasing our FY13 revenue/EPS estimates for EZchip based on the strong market potential and the design win footprint for NP-4."
For an analyst ratings summary and ratings history on EZchip Semiconductor click here. For more ratings news on EZchip Semiconductor click here.
Shares of EZchip Semiconductor closed at $42.92 yesterday.
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