Zoran Corporation (Nasdaq: ZRAN), a leading provider of digital solutions for applications in the digital entertainment and digital imaging markets, has settled all outstanding litigation with digital technology company DTS Inc. (Nasdaq: DTSI) and has obtained a license for all DTS related technologies required for Blu-ray products.
Zoran expects to roll out its integrated single chip solution for Blu-ray products by the end of the year. The company will leverage its existing position in the DVD market to establish a leading position in the Blu-ray market.
Zoran is managed by CEO, president and co-founder Dr. Levy Gerzberg.
Investment bank Oscar Gruss analyst Ziv Tal said, "There are chip manufacturers in the market like Broadcom and Sygma Design that produce chip sets but not individual chips like Zoran. With prices of handsets going down the manufacturers must streamline production."
Tal believes this fact will help boost Zoran's market share and he gives the company a "Buy" recommendation with a target price of $11, 9% above the current market price. Zoran's share closed yesterday at $10.12, giving a market cap of $522.51 million.
Published by Globes [online], Israel business news - www.globes-online.com - on June 23, 2009
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