Benchmark Capital is out with a research report on Entropic Communications, Inc. ENTR, and it has a Buy rating and a $12 price target on shares.
In a note to clients, Benchmark Capital writes, "Regarding 3Q11 guidance, we expect management to guide for sequential revenue growth, perhaps in the range of 4% to 6%. Most of this sequential revenue growth should come from the normal seasonal uptick in Entropic's DBS outdoor unit chipset sales, which are linked to Dish Network and DirecTV subscriber additions. With a greater mix of sales expected to come from CSS and BTS chipsets, it is likely
3Q11 gross margin guidance could exceed the consensus of 55%."
Shares of ENTR lost 55 cents yesterday to close at $8.41, a loss of 6.14%.
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