UPDATE: Wunderlich Securities Raises PT on PLX Technology; March Quarter Results In-line

According to a research report this morning, Wunderlich Security raises the PT on PLX Technology

from $3.50 to $7.00 as the company announced an acquisition by Integrated Device Technology

and an IP deal that was expected to close was halted. Wunderlich Security stated, “With the deal expected to close in the June quarter, the company did not offer formal guidance on the call. While we did not see any meaningful change necessary given the March quarter performance, we are leaving our revenue and EPS estimates unchanged based on the impending closure of the deal.” PLX Technology closed yesterday at $3.98 as Wunderlich Security maintains its Hold rating.