MIPS Technologies (MIPS)

[Bart Myers]

Benchmark is out with its report today on MIPS Technologies (NASDAQ: MIPS), upgrading MIPS from Buy to Hold.

In a note to clients, Benchmark writes, "We are upgrading our rating for shares of MIPS Technologies to 'Buy' from 'Hold'. First and foremost, our investment thesis is predicated on the likelihood of MIPS increasing its mobile market share. For example, the wireless industry's transition to 4G air interfaces such as LTE should at least allow MIPS to gain share in broadband cellular modems. Also, some key license agreements with Chinese baseband chip companies should allow MIPS to gain a toehold in the TD-SCDMA (and future TD-LTE) baseband market."

Benchmark has a $17 PT on MIPS.


Source:
http://www.benzinga.com/analyst-ratings/analyst-color/11/03/910651/update-benchmark-upgrades-mips-technologies-to-buy-mips#ixzz1G1TMBQXL