UPDATE: Wunderlich Securities Initiates Coverage on Standard Microsystems Corporation at Buy with $36 PT

Wunderlich has published a research report on Standard Microsystems Corporation SMSC initiating coverage on the company. In the report, Wunderlich wrote, "SMSC has developed a core portfolio of computing and connectivity solutions with a leveragable business model marked by execution and margin expansion. While the consumer electronics segment should remain challenging in the near term, we believe it offers compelling growth opportunities over the long term, driven by proliferation of smartphone and tablet devices." Wunderlich rated Standard Microsystems Corporation a BUY with a price target of $36.00. Standard Microsystems Corporation closed Wednesday at $19.72.