Market Overview

FBR Capital Markets Maintains Outperform, $19 PT on Fairchild Semiconductor International on Growth Outlook

Share:
Related FCS
ON Semiconductor To Sell Ignition IGBT Unit To Clear FTC Requirements For Fairchild Acquisition
Tender Offer Deadline Extended By ON Semiconductor To Buy Fairchild Semiconductor

FBR Capital Markets reiterates its Outperform rating on Fairchild Semiconductor International (NYSE: FCS) and maintains its price target of $19 a share.

FBR Capital Markets comments, "Growth in mobile still the plan despite macro choppiness. Fairchild is now a handset growth play, in our view, a marked departure from its historical roots. Management suggests that mobile revenues can grow by 30%–40% annually this year (2012) and again in 2013 as the firm ramps its broadened product offering with key customers like Apple and Samsung. With mobile now roughly 20% of sales, mobile shipments could comprise nearly 30% of revenues exiting 2013, a meaningful shift. Further, mobile products have gross margins of roughly 50%, much better than the firm's company average of 35%–40%, a positive as mobile makes up a bigger piece of the mix."

FCS closed at $12.41 on Monday.

Latest Ratings for FCS

DateFirmActionFromTo
Mar 2016JP MorganReinstatesNeutral
Jan 2016Credit SuisseMaintainsNeutral
Nov 2015SusquehannaDowngradesPositiveNeutral

View More Analyst Ratings for FCS
View the Latest Analyst Ratings

Posted-In: FBR Capital MarketsAnalyst Color Price Target Reiteration Intraday Update Analyst Ratings

 

Related Articles (FCS)

View Comments and Join the Discussion!