Loading...
Loading...
FBR Capital Markets reiterates its Outperform rating on Fairchild Semiconductor International
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in