Telemetrix downgraded despite good results

Teather & Greenwood has downgraded its recommendation on microchip designer and manufacturer Telemet...

Teather & Greenwood has downgraded its recommendation on microchip designer and manufacturer Telemetrix despite recent results coming in ahead of expectations. Citing the weakening demand for Telemetrix's products in North America and the increased risk associated with the escalating fixed costs, analyst Adrian Murray has downgraded his forecasts as well as his recommendation. In its full-year results to 31 December reported on 27 February, Telemetrix said pre-tax profits rose by 37.6% and EPS by 35%. The driver behind these figures was the analogue semiconductor division, where sales mov...