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The company is scheduled to report first-quarter earnings on Wednesday. Analysts, on average, expect a loss of 16 cents a share on revenue of $496.44 million.
"We forecast 50MW of interconnections during the quarter and model 410 MW in CY12 aided by pipeline exposure to N. America," Bank of America Merrill Lynch analysts wrote in a report Monday. "While the semiconductor segment could improve from a 1Q trough, we anticipate tough conditions for the solar business to prevail through the year. Polysilicon spot pricing remains depressed, falling below $25/kg in recent weeks. Our June Q rev/EPS estimates are $668M/$0.00 (Street at $631M/($0.01)). Maintain Neutral rating."
Shares of MEMC Electronic Materials hit a 52-week low Monday of $3.29. The stock's 52-week high of $11.36 was set on May 10.
MEMC Electronic Materials' forward P/E is 5.87; the average for semiconductor companies is 24.71. For comparison,
Intersil(ISIL) has a higher forward P/E of 14.69.
Eleven of the 23 analysts who cover MEMC Electronic Materials gave the stock a hold rating. Eight analysts rated the stock buy and four gave it a sell rating.
The stock has fallen 14.97% year to date.
-- Written by Alexandra Zendrian
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