On Wednesday DisplaySearch revised its data for the quarter. Analyst Tristan Gerra says given the DisplaySearch data and his own channel checks, he finds it prudent to further reduce his earnings per share estimate for the first quarter to $0.21, and to reduce the fiscal 2003 (March) estimate to $1.02 given the difficult pricing environment.
Gerra says he certainly sees no catalyst for Genesis Microchip until 5G-related capacity ramps materializes in a meaningful way, which he figures will occur in the December quarter. Still, he retains his buy rating based on longer-term growth prospects for the industry, as well as his belief that Genesis Microchip remains the best-positioned company in his universe.
However, he cut his $40 target to $29.