UPDATE: Collins Stewart Raises PT to $35 on Volterra Semiconductor, Maintains Buy
Collins Stewart reiterates its Buy rating on Volterra Semiconductor (NASDAQ: VLTR) and raises its price target to $35 from $29 as the company provides in-line results and outlook and Romley begins to ramp.
Collins Stewart says, "Our increased PT reflects better than expected EPS results and the intro of 2013 ests. Q4'11 results were driven by better than expected Server demand (transition EOL orders) offset by weak PC NB demand, while Q1'12 guid reflects stronger PC NB demand and initial ramp of Romley (Server). While 2012 should be a strong year of rev growth with the ramp of Romley and Chief River (PC NB), VLTR remains well positioned for cont. share gains on next gen. Intel platforms in 2013 and beyond on Brickland (Server) and Shark Bay (PC NB)."
VLTR closed at $28.86 a share yesterday.
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