Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Markets & Finance

Needham Trims Virage Logic Target

Needham cut its price target on Virage Logic (VIRL).

Analyst Jeffrey Macy says the $11.5 million to $11.7 million first quarter (Dec.) revenue guidance was about $2 million below his estimate. He says deferred purchases of 0.13-micron products doesn't indicate a loss of customers; he says the shortfall is related to overall economic weakness, and probable delays due to the holidays. Macy remains somewhat cautious on the semiconductor industry as no near-term catalysts have appeared; he hopes for economic recovery in 2004.

Also, Macy says his buy recommendation is based on long-term growth potential from royalty-based revenues, and strength in platform logic business. He lowered the $14 target to $11. Macy sees one cents earnings per share for the first quarter, and 16 cents a share for fiscal 2003 (Sept.).

blog comments powered by Disqus