Zacks reaffirmed their neutral rating on shares of LSI (NYSE: LSI) in a report issued on Friday. They currently have a $7.25 target price on the stock.
Zacks’ analyst wrote, “LSI Corp. delivered decent fourth quarter results with the top and bottom lines exceeding the Zacks Consensus Estimates. The continuing macro uncertainty and dwindling PC market prompted the company to provide a weak guidance. But we are encouraged by management’s optimism regarding its positive long-term growth. The company is confident of gaining market share backed by new product launches and penetration in growing markets. Moreover, continuous share buyback is also positive for earnings. Though LSI’s growing exposure into the SSD and networking market is encouraging, the weakening demand for traditional HDDs and customer concentration keeps us concerned. Hence, we maintain a Neutral recommendation.”
LSI has been the subject of a number of other recent research reports. Analysts at UBS AG downgraded shares of LSI from an outperform rating to a market perform rating in a research note to investors on Tuesday, February 26th. They now have a $8.00 price target on the stock. Separately, analysts at FBR Capital downgraded shares of LSI to a market perform rating in a research note to investors on Tuesday, February 26th. Finally, analysts at FBR Capital downgraded shares of LSI from an outperform rating to a market perform rating in a research note to investors on Tuesday, February 26th. They now have a $8.00 price target on the stock.
LSI opened at 6.76 on Friday. LSI has a 1-year low of $5.59 and a 1-year high of $9.20. The stock’s 50-day moving average is currently $7.15. The company has a market cap of $3.737 billion and a price-to-earnings ratio of 19.31.
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