FBR Capital Maintains an 'Outperform' on International Rectifier (IRF); Recent Weakness Provides Entry Point As Business Remains Solid
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Price: $39.98 --0%
Rating Summary:
3 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
Rating Summary:
3 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
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FBR Capital maintains an 'Outperform' on International Rectifier (NYSE: IRF), PT $38.
FBR analyst says, "Stepping back, we remain impressed with CEO Khaykin's realignment activities since joining IR in early 2008, with several opportunities remaining: (1) ramping discrete market share further across various end markets, (2) ramping high-power (>600 volts) chips into industrial and automotive applications, (3) consolidating internal fabs in 2012 as supply constraints ease and foundry sources ramp, and (4) eventually shipping nextgeneration GaN solutions. We remain constructive on IRF given these factors and its very attractive 9x and 8x P/E multiple (2011 and 2012, respectively)."
"For 3Q, we think IR will guide revenues to grow QOQ, though much time and uncertainty remain before early August. Gross margins could be guided toward 39%. Net, our EPS estimate of $0.53 is three pennies below the Street scattered $0.56."
For more ratings news on International Rectifier click here and for the rating history of International Rectifier click here.
Shares of International Rectifier closed at $26.98 yesterday.
FBR analyst says, "Stepping back, we remain impressed with CEO Khaykin's realignment activities since joining IR in early 2008, with several opportunities remaining: (1) ramping discrete market share further across various end markets, (2) ramping high-power (>600 volts) chips into industrial and automotive applications, (3) consolidating internal fabs in 2012 as supply constraints ease and foundry sources ramp, and (4) eventually shipping nextgeneration GaN solutions. We remain constructive on IRF given these factors and its very attractive 9x and 8x P/E multiple (2011 and 2012, respectively)."
"For 3Q, we think IR will guide revenues to grow QOQ, though much time and uncertainty remain before early August. Gross margins could be guided toward 39%. Net, our EPS estimate of $0.53 is three pennies below the Street scattered $0.56."
For more ratings news on International Rectifier click here and for the rating history of International Rectifier click here.
Shares of International Rectifier closed at $26.98 yesterday.
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