Fairchild (FCS) May Have Landed a Huge Smartphone Win

Fairchild Semiconductor (NYSE: FCS) wasn't a huge winner in the stock market Monday, but if what one analyst says is correct, the path to the future could be paved with fruit bearing trees... the Apple kind.

Analysts at UBS said checks into the supply chain indicate Fairchild has expanded its presence in Apple's (Nasdaq: AAPL) iPhone from MOSFETS to voltage regulators with the upcoming introduction of the iPhone 5.

"This win points to continued momentum for Fairchild in handset power management, especially as transition to dual-core processors drive higher need for power management in smartphones," UBS analyst Parag Agarwal noted in a research report Monday morning.

Agarwal believes Fairchild will continue to deliver strong results for the remainder of the year and is reiterating a Buy rating and $21 price target.

Shares of Fairchild closed up just 1 percent to $16.67 Monday despite the potentially positive news.

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