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ESS Technology, Inc. (ESST) Lifted from Underperformance to Hold by Jefferies & Co.

ESS Technology, Inc. (NASDAQ: ESST) designs, markets and supports integrated mixed-signal semiconductor, hardware, software and system solutions. Jefferies & Co. recently upgraded the company to “Hold” from “Underperformance,” reflecting the offer from Imperium Partners, raising the target price to $1.64 from $1.00.

Founded in 1984, ESS Technology has established strategic business relationships with global consumer electronics manufacturers and distributors around the world, including Samsung, LGE, Philips, Sony, Sharp and more. The company attributes its successful relationships to its proven “superior service,” low defect rate, and its ability to meet delivery requirements.

Utilizing its distributors and direct sales force, ESS Technology markets its products to customers in the United States, China, Hong Kong, Taiwan, Japan, Korea, Turkey, Singapore and more.

The company’s product line includes integrated chips applicable to digital audio, digital video and digital media players. ESS Technology offers playback solutions for DVDs, digital media content, DivX movies and MPEG-4 movies. Its single-chip solutions allow manufacturers to quickly introduce their products into the marketplace.

ESS Technology’s Sabre products produce multi-channel, ultra high-performance audio. Its patented Hyperstream Modulator has increased the company’s presence in the digital entertainment products industry.

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