AllThingsD » chip production http://allthingsd.com Sat, 11 Feb 2012 20:29:40 +0000 en hourly 1 http://wordpress.org/?v=3.3.1 http://allthingsd.com/theme/images/logo-rss.jpg All Things Digital http://allthingsd.com/ 144 22 Anadigics: Sell-Off Overdone, Says Needham, as It Cuts Price Target From $14 to $6 http://allthingsd.com/20080808/anadigics-sell-off-overdone-says-needham-as-it-cuts-price-target-from-14-to-6/ http://allthingsd.com/20080808/anadigics-sell-off-overdone-says-needham-as-it-cuts-price-target-from-14-to-6/#comments Fri, 08 Aug 2008 22:14:51 +0000 Tiernan Ray http://voices.allthingsd.com/?p=2417 Talk about the horse and the barn door.

Amid a 38-percent plunge in shares of chipmaker Anadigics (ANAD) following a gloomy pre-announcement last night, analyst Pierre MacCagno of Needham & Company today reiterated his “strong buy” rating on the stock while cutting his price target from $14 to $6. Thanks for the heads-up.

To recap, Anadigics yesterday announced that for its current third fiscal quarter, cellphone makers have shown less demand for its chips, and the company is putting off some chip production, leading it to revise its revenue expectation from a range of $75 million to $81 million, given back on July 22, to $62 million to $65 million. Ouch!

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