With the annual consumer electronics show - where the latest gadgets are on view - underway this week in Las Vegas, a couple of UK technology companies have caught investors' attention.
CSR, the bluetooth specialist, has climbed 8.6p to 358.8p as it made a number of announcements for the show, including news of a demonstration of its technology for use in wireless gaming.
Meanwhile Imagination Technologies, which is hosting analyst presentations at the show, has added 17.7p to 455.7p. Investec issued a hold recommendation on the company, which recently won the battle for US business MIPS, but cut its target price from 498p to 490p. Analyst James Goodman said:
Imagination shares have continued to trade weakly, down around 25% in a rising market since their September high, with increasing costs the latest worry for the market (on-going concerns being declining royalty rates and ecosystem
news flow). With a number of positive underlying trends set to play out in the second half, and with a 35% discount to Arm having emerged (from a premium previously), we see the near-term risks as positive. Given modest
upside (10%) and high volatility, however, we retain our hold.
