Atheros post better results

Wireless networking chipmaker Atheros Communications posted better-than-expected quarterly results, but revenue from the PC segment fell 10% sequentially due to uncertainty in European markets, Reuters reports.

Separately, Atheros says it would acquire a privately held Chinese semiconductor company for $72 million to beef up its networking and broadband access offerings.

The company remains cautious on near-term demand in the PC market, says chief executive Craig Barratt. The PC segment accounts for about 30% of Atheros' revenue.

Hard drive manufacturer Seagate has released a Goflex home network storage product, writes the Inquirer.

The kit can be connected to a wireless router and used to backup and stream content to digital living network alliance devices.

Goflex comes with 1TB or 2TB of storage space and Seagate reduced the number of cables involved with just two connections required.

Shares of Juniper Networks climbed after a Canaccord Genuity analyst upgraded the computer networking equipment maker and said the stock could have "material" upside in the next 12 to 18 months, states Boston.com.

Analyst Paul H. Mansky upgraded Juniper to "buy" from "hold" with a target price, unchanged, of $35.

Juniper has guided for a profit of 27 cents to 29 cents per share on revenue of $930 million to $970 million.