UPDATE: Piper Jaffray Raises PT on NetLogic Microsystems to $52.50 (NETL)

Piper Jaffray is out with its report today on NetLogic Microsystems (NASDAQ: NETL), raising its PT from $51 to $52.50.

In a note to clients, Piper Jaffray writes, "Maintain Overweight and raise our price target slightly to $52.50 from $51 based on 30x our slightly higher CY12E EPS of $1.75."

Shares of NETL closed Monday at $43.28, up 0.35% from Friday's close.