TechMARK movers: CSR gets broker boost

16th Apr 2010 15:12

Positive broker comment has boosted chip maker CSR.UBS has upgraded CSR from neutral to buy. The broker argues that the company's underperformance compared with the sector is a buying opportunity. UBS also believes that two of CSR's top three customers, Samsung and Nokia, will report good volumes for the first quarter of 2010. Yesterday, FinnCap argued that CSR is good value and it believes that the negative reaction to Monday's statement about litigation against SiRF, which was acquired in June 2009, has been overdone. "The ruling has no impact as CSR has already redesigned its chips", says FinnCap. The first quarter figures will be published early in May. Shares in engineering data systems provider Aveva have fallen back even though the company says that its full year figures to March 2010 will be marginally ahead of expectations. The oil and gas and power markets are strengthening but the marine market remains weak. Chief executive Richard Longdon was cautious in his comments saying that Aveva has a "robust pipeline of new business but some customers remain cautious on commitment to large capital spend which is expected to continue in the near-term".The full year results will be published at the end of May. FTSE TechMARK - RisersNXT (NTX) 15.25p +5.17%Torotrak (TRK) 25.25p +4.12%Xaar (XAR) 118.00p +3.51%Morse (MOR) 39.50p +3.27%CSR (CSR) 452.00p +3.20%Parity Group (PTY) 9.00p +2.78%Consort Medical (CSRT) 374.00p +2.75%Oxford Biomedica (OXB) 10.25p +2.71%Wolfson Microelectronics (WLF) 170.00p +2.26%ProStrakan (PSK) 93.00p +2.20%FTSE TechMARK - FallersAveva Group (AVV) 1,164.00p -5.67%Autonomy Corporation (AU.) 1,753.00p -5.24%Filtronic (FTC) 32.75p -5.07%Ark Therapeutics (AKT) 9.50p -5.00%Corin Group (CRG) 69.50p -3.47%Vernalis (VER) 51.00p -3.32%Anite Group (AIE) 31.00p -3.12%Phoenix IT Group (PNX) 262.00p -2.96%KCOM Group (KCOM) 48.50p -2.51%Logica (LOG) 142.10p -2.34%