FSI International's (NASDAQ:FSII) Positives Already Priced In

FSI International (NASDAQ:FSII) has a number of positives going for it heading into 2011, but Needham believes they're already price into the stock of the company.

"FSII reported largely inline F1Q11 results with strong bookings. The company has done a good job penetrating new business with the ANTARES clean product, but we believe growth could be offset by a slowdown of the ZETA product. While the recent success of the single-wafer product gives us more confidence on FSII's ViPR technology, revenue will depend on further qualifications. Given the 60% price appreciation QTD, we believe the positives are already reflected in the share price. Therefore, we maintain our Hold and recommend investors wait for a pull-back," said Needham.

Needham & Company maintains a "Hold" on FSI International, which closed Wednesday at $4.65, up $0.41, or 9.67 percent.