Auriga is out with a research report, where it reiterates its “hold” rating and $12 price target on shares of Intergrated Silicon Solution Inc. (ISSI).
Auriga has a very positive view for ISSI in the short term and predicts to see a continuation of balanced risk/reward for the longer term. For the near term, analysts suggest that demand for ISSI’s products from automotive, telecom/networking and industrial sectors will continue to be strong.
Analysts added, “To reflect the near-term strengths in ISSI’s main businesses, we raise our F3Q10 revenue and pro-forma (excl. share-based comp) EPS estimates to $70mln/$0.42 (vs. consensus $67mln/$0.41) from $67mln/$0.41, FQ410 to $74mln/$0.47 (vs. consensus $73mln/$0.45) from $70mln/$0.45, and FY11 to $273mln/$1.43 (consensus $284mln/$1.50) from $267mln/$1.39.”
Shares of ISSI started the day trading at $9.05.
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