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LSI Corporation Message Board

  • c757172 c757172 Feb 26, 2013 4:28 PM Flag

    FBR Capital downgrades LSI from outperform to perform with $8 PT

    FBR Capital downgraded LSI Corporation (NASDAQ: LSI) from Outperform to Market Perform with a price target of $8.00 (from $8.50) saying near-term risk of a financial reset somewhat elevated.

    The firm said the company may struggle with: (1) the large sequential drop in 1Q13 PC shipments and the company's heavy PC exposure, (2) Marvell capturing near-term HDD controller share for enterprise and 500 GB platter drives at Seagate (traditionally an LSI stronghold), and (3) ongoing delays in its third-generation SandForce controller that may have allowed Marvell to capture SSD controller share"

    The firm optimistic for the long-term prospects of the company and await a reset of PC expectations.

    For an analyst ratings summary and ratings history on LSI Corporation click here. For more ratings news on LSI Corporation click here.

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    • Whom to believe? From today's Morgan Stanley's conference:

      Joseph Moore - Morgan Stanley, Research Division
      Okay, great. Any misconceptions, you're talking about, from your investor meetings, are more around market share and competitor commentary, I assume?

      Abhijit Y. Talwalkar - Chief Executive Officer, President and Director
      Well, just the calculator our competitor uses. I'm not sure. I just don't understand how the numbers add up. We, from an HDD standpoint, our business last year grew 40%. And the HDD TAM actually declined. So I'm not sure how the only other player in the market can claim their share grew. So it's just -- there's some bad data that's circulating, and I wanted to make sure that, that was all at least corrected and factual.

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