Needham & Company Downgrades ANADIGICS (ANAD) to Hold

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Go back to Needham & Company Downgrades ANADIGICS (ANAD) to Hold

ANADIGICS (ANAD) Announces Strategic Restructuring, Updates Guidance

June 26, 2014 4:04 PM EDT

ANADIGICS, Inc. (Nasdaq: ANAD), a world leader in radio frequency (RF) solutions, announced today it is restructuring its business model to lower its operating costs and better align resources to address growth opportunities in rapidly expanding infrastructure markets.

"With a strong infrastructure design-win trajectory, I'm pleased we're able to accelerate our strategy to expand in infrastructure markets, and with that, lower our fixed manufacturing and operating costs," said Ron Michels, chairman and CEO of ANADIGICS. "We believe that these steps, coupled with our previously announced $10 million cost-savings initiatives, should enable the Company to deliver... More