The revenue growth of Vimicro International Corp. (NASDAQ:VIMC) should be incremental, even after they were approved as a standard by the SAC, said Auriga.
Auriga said that "this is what VIMC's surveillance business needed and the ramp of associated revenue is likely a gradual process."
They also lowered their EPS estimate on the company for full year 2010 from $0.37 to $0.27, and for full year 2011 from $0.12 to $0.03. Revenue estimates were also lowered for full year 2010 from $104 million to $99 million, and for full year 2011 from $141 million to $123 million.
Auriga maintains their "Buy" rating on Vimicro, which closed Tuesday at $3.17, falling $0.24, or 7.04 percent. They lowered their price target from $6 to $4 a share.
Volume on Tuesday was almost 8 times the daily 3-month average.
Wednesday, December 1, 2010
Invest in Seagate (NASDAQ:STX) Advises Needham
Not only does Needham & Company advise investors to invest in Seagate Technology (NASDAQ:STX), they suggest the snap up shares aggressively at the current price level.
Talks with private equity firms have been halted because of improved conditions.
Needham said, "While the next few days could be volatile for the stock (suggesting a downgrade immediately followed by an upgrade) instead we will save the trees, and retain our Strong Buy (with $19 target based on 8x F12 EPS of $2.35). We encourage investors to aggressively purchase the shares at current levels and under as improved demand and a material buyback should drive the stock."
Seagate closed Tuesday at $13.41, dropping $0.45, or 3.25 percent. Needham raised their price target on them from $17 to $19.
Talks with private equity firms have been halted because of improved conditions.
Needham said, "While the next few days could be volatile for the stock (suggesting a downgrade immediately followed by an upgrade) instead we will save the trees, and retain our Strong Buy (with $19 target based on 8x F12 EPS of $2.35). We encourage investors to aggressively purchase the shares at current levels and under as improved demand and a material buyback should drive the stock."
Seagate closed Tuesday at $13.41, dropping $0.45, or 3.25 percent. Needham raised their price target on them from $17 to $19.
Buy Shares of Dycom Industries (NYSE:DY) Says FBR
Saying a cyclical upswing has come in reference to Dycom Industries (NYSE:DY), FBR Capital says it's now time to buy shares of the stock.
FBR said, "It is time to buy shares of Dycom going into a cyclical upswing in communications capital spending. DY's F1Q11 results offered numerous fundamental data points that confirm to us our increasingly upbeat outlook...We reiterate our rating as we believe numerous growth opportunities are developing, solid cash generation during the recent recession provides a solid balance sheet for the up-cycle in communication capex, and the valuation is very attractive...We expect CY11 revenue of $1.08B (+ 8% YOY), EBITDA of $101M (+23%), and EPS of $0.50 (+51%)."
FBR maintains their "Outperform" rating on Dycom, which closed at $13.22 on Tuesday, gaining $0.19, or 1.46 percent. FBR raised their price target on them from $15 to $21.
FBR said, "It is time to buy shares of Dycom going into a cyclical upswing in communications capital spending. DY's F1Q11 results offered numerous fundamental data points that confirm to us our increasingly upbeat outlook...We reiterate our rating as we believe numerous growth opportunities are developing, solid cash generation during the recent recession provides a solid balance sheet for the up-cycle in communication capex, and the valuation is very attractive...We expect CY11 revenue of $1.08B (+ 8% YOY), EBITDA of $101M (+23%), and EPS of $0.50 (+51%)."
FBR maintains their "Outperform" rating on Dycom, which closed at $13.22 on Tuesday, gaining $0.19, or 1.46 percent. FBR raised their price target on them from $15 to $21.
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