UPDATE: Piper Jaffray Predicts Several Successful Quarters in Volterra Semiconductor's Future; Increases PT

In a research report published today, Piper Jaffray is raising Volterra Semiconductor's VLTR PT from $30 to $34 due in large part to the success of INTC's new server platform, Romley. According to the report, “VLTR is starting to benefit from INTC's launch of its new server platform, Romley, and it is likely to remain a positive backdrop for the shares over the next several quarters. While the Romley ramp is included in our estimates, Street estimates likely need to move higher. In CY13, we expect the launch of Haswell, Intel's next notebook processor after Ivy Bridge, will benefit VLTR as its products enable a smaller form factor as well as instant-on capability. We think this will drive growth in the out year. Piper Jaffray maintains its Overweight rating on Volterra Semiconductor, which closed yesterday at $28.86.