UPDATE: Piper Jaffray Lowers PT on DTS Inc from $46 to $30

Piper Jaffray has published a report on DTS Inc DTSI lowering the price target after 2Q results came back lower than expected. In the report, Piper Jaffray wrote, "DTS reported Q2 results below consensus. Royalty recovery payments and game console revenues were weaker than expected in the quarter, but the company saw continued strength in Network-connected Devices and the auto market. DTS lowered its FY11 guidance, with revenue and non-GAAP EPS now below consensus." Piper Jaffray rated DTS a Neutral with a price target lowered from $46.00 to $30.00. DTS closed Monday at $29.69.