SiRF Tries to Keep Balance - Analyst Blog
SiRF Technology Holding Inc. (
SIRF) is a fabless OEM of GPS semiconductor chipsets, semiconductor-based modules and associated software.
SiRF reported a difficult September quarter as demand for Personal Navigation Devices (PNDs) slowed and competition has increased. Gross margin continues to fall from the prior year as the firm sells a higher mix of low-margin System-on-a-Chip (SOC) products.
Several end markets don't appear to be near-term catalysts that have the potential to significantly revise expectations upwards. Consequently, we are initiating a Hold recommendation on the shares of SiRF Technology Holding Inc.
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