FBR Capital Maintains an 'Outperform' on Fairchild Semi (FCS); Pulls Another Rabbit As Growth Drivers Hit

FBR Capital maintains an 'Outperform' on Fairchild Semi (NYSE: FCS), PT upped by $1 to $25.

FBR analyst says, "FCS reported another "beat and raise" quarter with robust financial results as key growth drivers engage in its high-voltage business. Indeed, listening to today's conference call makes it clear that this is not the same Fairchild as in years past with industrial- and white goods–driven product cycles in its smart power module business (+65% YOY in 2010 and similar growth likely in 2011), high-voltage MOSFETs and IGBTs, and mobile-driven product cycles in USB switches and battery charged devices. Gross margins should ramp further, toward 38%–39% this year and toward 39%–40% next year, driven by higher revenue levels, factory efficiencies, and better industrial product mix...raise our 2011 pro forma EPS estimate from $1.60 to $1.70, our 2012 estimate from $1.70 to $1.85."

For more ratings news on Fairchild Semi click here and for the rating history of Fairchild Semi click here.

Shares of Fairchild Semi closed at $19.18 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Keefe, Bruyette & Woods Downgrades Bain Capital Specialty Finance (BCSF) to Market Perform
• ICICI Securities Downgrades Manappuram Finance Ltd (MGFL:IN) to Hold (3)
• Jefferies Downgrades Aegis Vopak Terminals (AEGISVOP:IN) to Hold