Zacks reaffirmed their neutral rating on shares of MEMC Electronic Materials (NYSE: WFR) in a research note released on Thursday morning. They currently have a $5.00 price target on the stock.
Zacks’ analyst wrote, “MEMC posted a decent fourth quarter with the bottom line surpassing the Zacks Consensus Estimate. But revenues failed to encourage us as it decreased on a year over year basis and came below our expectation. Solar systems sales were lower than expected. The demand uncertainty barred the company from providing any guidance. However, we are encouraged by management’s commentary of expecting a better demand/supply situation in the semiconductor market in 2013. Of course, expense control will also provide some support. Also, declining solar system pipeline, high debt burden and solar tariff cuts concerns us. But on the other hand, market share growth in semiconductor is a positive. We therefore reiterate our Neutral recommendation.”
Zacks has also taken action a number of other technology stocks recently. The firm reiterated its outperform rating on shares of Tower Semiconductor Ltd. They have a $12.00 price target on that stock. Also, Zacks reiterated its underperform rating on shares of Microsemi Corporation. They have a $19.00 price target on that stock. Finally, Zacks upgraded shares of Oplink Comms from a neutral rating to an outperform rating. Zacks now has a $17.30 price target on that stock.
A number of other firms have also recently commented on WFR. Analysts at Jefferies Group raised their price target on shares of MEMC Electronic Materials from $3.50 to $4.50 in a research note to investors on Monday, February 11th. They now have a hold rating on the stock. Separately, analysts at Citigroup initiated coverage on shares of MEMC Electronic Materials in a research note to investors on Wednesday, February 6th. They set a buy rating and a $5.40 price target on the stock. Finally, analysts at RBC Capital reiterated a sector perform rating on shares of MEMC Electronic Materials in a research note to investors on Friday, November 30th. They now have a $3.00 price target on the stock.
Six equities research analysts have rated the stock with a buy rating, twelve have assigned a hold rating, and one has given an underweight rating to the company’s stock. MEMC Electronic Materials has an average rating of overweight and a consensus target price of $5.56.
Shares of MEMC Electronic Materials opened at 5.34 on Thursday. MEMC Electronic Materials has a one year low of $1.44 and a one year high of $5.41. The stock’s 50-day moving average is currently $4.05. The company’s market cap is $1.260 billion.
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