EZchip price target lowered to $31 from $34 at Feltl Feltl lowered its price target on EZchip to $31 from $34 to reflect the company's Q3 guidance and slightly lower expectations for its core Tilera business next calendar year. Feltl maintains a Strong Buy rating on the stock and recommends investors continue to accumulate shares, as the firm believes the company was conservative with its guidance and that its growth prospects remain undervalued.
EZchip sees Q2 revenue $27.5M-$28.5M, consensus $28.3M Sees Q2 gross margins in the 75% range. Says NP-5 product revenues poised for growth in 2015. EZchip (EZCH) expects revenues from Cisco (CSCO) to continue to grow in 2015, 2016. Comments made on the Q1 earnings conference call. EZchip is down 25.24% to $14.62 in mid-morning trading.