MIPS Technologies Inc. (MIPS) Maintains Buy Rating

Analysts at Craig-Hallum Capital Group LLC have maintained their Buy rating for MIPS Technologies Inc. (NASDAQ: MIPS). The company reported revenue of $15.2 million and non GAAP EPS of $0.09 for the second quarter of fiscal year 2010. The company reported an operating margin of 23.5%.

Analysts believe that the Android platform provides the company with a significant opportunity. For the second quarter the company did not have a license deal associated with Android. However, analysts expect MIPS to add 2-4 deals in the third quarter and 4-6 deals in the fourth quarter. Analysts expect these deals to be worth $500,000 and above.

Analysts have set a price target of $6 for MIPS Technologies Inc. based on an EPS estimate of $0.40 for fiscal year 2011.