Wunderlich Securities: PMC-Sierra Defines Challenges and Opportunities

In a research report published earlier today by Wunderlich Securities, PMC-Sierra Inc.

did a great job defining challenges and opportunities for the company at the third installment of “Tech Topics to Wunder About”. Wunderlich Securities commented in the report, “We came away incrementally more positive on the company's storage business, which is currently ~60% of total revenues and we expect the Romley server transition to act as a near-term catalyst while the transition to 12-gig should be a driver starting in mid-2013. We rate PMCS shares Buy with an $8 price target.” PMC-Sierra closed yesterday at $6.75.