UPDATE: Stifel Nicolaus Reiterates Buy Rating, Lowers PT on O2Micro International

In a report published earlier today, Stifel Nicolaus and Company, Inc. reiterated its Buy rating on O2Micro International Limited

, but slightly lowered its price target from $8.00 to $7.00. Stifel Nicolaus went on to say “We believe demand has deteriorated worldwide across all geography, especially in Europe and in China. In regard to notebooks, we believe it is due to supply chain inventory tightening. The latest data coming out of Asia is that notebook shipments remains weak and pick-up in component orders may not be until later in the summer months. TV and monitor demand is still impacted by moderating global economic growth and lackluster consumer confidence. In regard to new product areas, general lighting's growth was more moderate but design activity remains strong and design wins continue to ramp into production.” O2Micro International Limited closed on Friday at $4.41.