Jefferies Reiterates Hold Rating On Powerwave

According to Jefferies, Powerwave Tech (NASDAQ: PWAV) Q2 revenues were in line with the pre-announced range, but GM was light due to higher warranty and mfr costs.

Jefferies said that NSN was weak as expected, but 2011 revenue guidance was maintained. “We reiterate our Hold rating but cut our estimates and target to $2.10.”

Powerwave Tech closed yesterday at $1.96.