Market Overview

UPDATE: Sterne Agee Reduces PT to $8 on SemiLEDs Corporation on Capacity Utilization and Operating Loss Concerns

Related LEDS
Navigant Reports 94% of Annual Street Lighting Sales Will be LED by 2023
LEDinside Reports LED Bulb Price Drops in April -Digitimes
Related LEDS
Morning Market Losers
Earnings Scheduled For April 14, 2014

Sterne Agee reiterated its Buy rating on SemiLEDs Corporation (NASDAQ: LEDS) but reduced its price target on shares from $10 to $8.

Sterne Agee said, "The stock will likely trade flat with the strong top-line offset by capacity utilization and operating losses that were below our expectations. Cash burn will likely persist over the next few quarters given the lack of any near-term catalysts to move utilization substantially higher, as well as management's focus on working down inventory."

SemiLEDs Corporation closed at $2.63 on Tuesday.

Posted-In: Sterne AgeeAnalyst Color Price Target Intraday Update Analyst Ratings

 

Most Popular

Related Articles (LEDS)

Around the Web, We're Loving...

Partner Network

Get Benzinga's News Delivered Free