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UPDATE: Credit Suisse Reiterates On Entropic Communications Following C3Q Rev Report


In a report published Tuesday, Credit Suisse analyst John W. Pitzer reiterated an Underperform rating on Entropic Communications (NASDAQ: ENTR), but lowered the price target from $3.00 to $2.75.

In the report, Credit Suisse noted, “We are encouraged by ENTR's decision to exit the STB SoC space, an effort we have long been skeptical could be successfully given lack of scale to compete against market leader BRCM. The expanded cost reductions to align OpEx with current revenue and NT is encouraging, though the LT go-to-market strategy post-STB SoC remains unclear. Specific to core Connectivity, we see the market transition away from discrete IC solutions towards MoCA-integrated STB SoCs as indicative of a trend that has the potential to negatively impact ENTR – a market sizable enough to pursue will likely interest companies capable of integrating MoCA.”

Entropic Communications closed on Monday at $2.71.

Latest Ratings for ENTR

Feb 2015NeedhamDowngradesBuyHold
Feb 2015Credit SuisseUpgradesUnderperformNeutral
Nov 2014Credit SuisseMaintainsUnderperform

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