MIPS Technologies (MIPS) Target Cut at Benchmark Company

MIPS Technologies, Inc. (MIPS) received a “buy” reiteration today from securities research analysts at investment firm The Benchmark Company.  The buy reiteration however did not prevent MIPS from receiving a decreased performance outlook price target.  Benchmark lowered MIPS from $15 to $11 dollars.  Benchmark noted that they believe investor confidence has been relegated to being pessimistic regarding the company and due to this feel that MIPS provides a good risk, reward play.

MIPS had a solid 2010 run in which share valuation doubled, only to decrease by the same amount in 2011 trading.  Notable is that 2011’s low of $6.14 dollars has yet to match 2010’s low, so for a multi-year outlook, shares are still technically up on a yearly basis.  However, Benchmark looks to be correct in investor confidence being pessimistic with the slide of shares in 2011 trading.  Overall, shares have been traded with bullish bias over the past 13 trading days.

MIPS Technologies is slated to release their next earnings report on August 2nd, 2011, and is estimated to post EPS of 7 cents.  Their last earnings report was released on April 26th, 2011, and announced EPS of 9 cents with revenue totaling $20.0 million which was up 14.3% year to year.  MIPS is currently trading below its 50 & 200-day moving averages and 2011 is a down year for the company.

MIPS Technologies, Inc. is a provider of industry-standard processor architectures and cores that power some of the world’s most popular home entertainment, communications, networking and portable multimedia products.  The company has market capitalization of $371,486,080 and 52,544,000 shares outstanding.  MIPS has a 52-week high of $18.19 with the low being 4.95 dollars.

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