UPDATE: Evercore Partners Lowers PT on Volterra Semiconductor

Evercore Partners has published a research report on Volterra Semiconductors VLTR lowering the price target. In the report, Evercore Partners wrote, "We now model a $2mn push-out from 4Q11 to 1Q12 and expect server revenues to peak in 3Q12 rather than 2Q12. Our lower estimates also factor in recent checks indicating continued inventory de-stocking and weak demand." Evercore rated Volterra an Equal-weight with a price target lowered from $24.00 to $21.00. Volterra closed Tuesday at $21.81.