MOUNTAIN VIEW, Calif., December 20, 2004 - MIPS Technologies, Inc., (Nasdaq: MIPS), a leading provider of industry-standard processor architectures and cores for digital consumer and business applications, announced today that analyst Carter Driscoll of IRG Research has initiated coverage of MIPS Technologies with a "buy" rating.
In a research note, Driscoll points out that MIPS Technologies is benefiting from its embedded processor IP (intellectual property) technology, which its licensees use in consumer electronics, office automation and broadband applications. He expects the ongoing transition from 8/16 bit to 32/64-bit processors to boost MIPS revenues in the near term.
"We're very pleased that IRG has recognized both our success and our value proposition," said John Bourgoin, MIPS Technologies president and CEO. "We certainly agree that 'MIPS is well positioned to benefit from high-growth opportunities in set-top boxes, digital TVs, broadband access and home networking'. We already have a powerful position in cable modems, VDSL modems and cable set-top boxes. As long as people continue to demand more information more quickly, MIPS Technologies will be at the core of the user experience."
About MIPS Technologies
MIPS Technologies, Inc. (Nasdaq: MIPS) is a leading provider of industry-standard processor architectures and cores for digital consumer and business applications. The company drives the broadest architectural alliance that is delivering 32- and 64-bit embedded RISC solutions. The company licenses its intellectual property to semiconductor companies, ASIC developers and system OEMs. MIPS Technologies and its licensees offer the widest range of robust, scalable processors in standard, custom, semi-custom and application-specific products. The company is based in Mountain View, Calif., and can be reached at +1 (650) 567-5000 or www.mips.com.
About Independent Research Group LLC
IRG Research is a registered broker-dealer created to provide hedge funds and institutional money managers with unbiased and differentiated equity research. IRG's top-tier industry analysts provide in-depth, action-oriented investment ideas without the conflicts created by investment banking, underwriting, and proprietary trading. Analysts concentrate on uncovered and under-covered stocks and have a small to mid-cap focus. Sector coverage includes Communications Equipment; Communications Services & Infrastructure; Energy; Financial Services; Graphics & Imaging; Satellite, Cable & Broadcasting; Specialty Retail - Softlines; Specialty Retail - Hardlines, and Technology. IRG also provides clients direct and unfiltered access to key industry participants, management teams, and thought leaders through its IRG Institutional Marketing Group. IRG Research is a wholly owned subsidiary of TheStreet.com (Nasdaq: TSCM). Additional information about IRG Research can be found at www.irgresearch.com.