Merrion rates Parthus a buy

PARTHUS TECHNOLOGIES plc has been rated a clear buy by stockbrokers Merrion Capital, who say the Dublin-based mobile chip and software designer is well placed to exploit any pick-up in the tech sector.

Merrion analyst John Coolican said despite a 12% revenue decline to $9.5m Parthus will “undoubtedly benefit from recovery when it happens. At these levels it is a clear buy.”

Mr Coolican says at $1.88 per share, Parthus has a market cap of $110m.