Buy Mattson Technology (MTSN) on Recent Weakness, Needham & Company Says

Needham & Company analyst Y. Edwin Mok reiterated a Buy rating and $4 price target on Mattson Technology (NASDAQ: MTSN) saying the announcement of Millios shipments removed some fear of sector softness.

Mok comments, "Today before market open, MTSN announced shipment of multiple Millios MSA tools in 1Q14. We believe the news confirmed that MTSN is able to turn the first Millios qualification into multiple tool shipments, thus giving us more confidence that MTSN will meet the previously-provided target of shipping 1-2 Millios tools per quarter in 2014. The stock has recently pulled back on the fear that some sector softness in the near-term would impact its revenue. However, we believe MTSN is more likely to deliver revenue growth, driven by production shipments of multiple new products. Therefore, we recommend investors use the recent weakness as a buying opportunity."

For an analyst ratings summary and ratings history on Mattson Technology click here. For more ratings news on Mattson Technology click here.

Shares of Mattson Technology closed at $2.32 yesterday.

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