Wunderlich Securities Maintains Buy, $30 PT on Standard Microsystems

Wunderlich Securities reiterates its Buy rating with a $30 price target on Standard Microsystems (NASDAQ: SMSC) as the company gets ready to report on its seasonally weakest quarter after close on Tuesday.

Wunderlich Securities says, "We expect results to be in line with our estimates of $91.0 million in revenue and ($0.17) in non-GAAP EPS, although a large variability in the EPS line could be attributed to end of year tax charges, which are expected to total $0.30. We expect the company to report exiting its seasonally slowest quarter of the year with decent backlog coverage for modest growth in fiscal 1Q13 (May) along with cautious optimism for the rest of the year."

SMSC closed at $24.76 a share on Friday.

(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.