Freescale Semiconductor’s “Buy” Rating Reiterated at Needham & Company LLC (FSL)
Needham & Company LLC has also taken action a number of other information technology stocks recently. The firm reiterated its buy rating on shares of NVIDIA Co.. They have a $27.00 price target on that stock. Also, Needham & Company LLC reiterated its buy rating on shares of Atmel Co.. They have a $11.00 price target on that stock. Finally, Needham & Company LLC downgraded shares of Microchip Technology Inc. to a hold rating.
Shares of Freescale Semiconductor (NYSE:FSL) opened at 37.78 on Friday. Freescale Semiconductor has a 52-week low of $15.29 and a 52-week high of $45.67. The stock’s 50-day moving average is $40.99 and its 200-day moving average is $37.88. The company has a market cap of $11.60 billion and a price-to-earnings ratio of 34.31.
Freescale Semiconductor (NYSE:FSL) last issued its quarterly earnings data on Thursday, April 23rd. The company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.03. The company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the previous year, the company posted $0.27 earnings per share. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. On average, analysts predict that Freescale Semiconductor will post $2.03 earnings per share for the current fiscal year.
In other Freescale Semiconductor news, SVP Robert J. Conrad sold 107,169 shares of the stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $42.92, for a total value of $4,599,693.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Paul R. Hart sold 2,397 shares of the company’s stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $41.28, for a total value of $98,948.16. The disclosure for this sale can be found here.
Separately, analysts at Topeka Capital Markets lowered their price target on shares of Freescale Semiconductor from $46.00 to $45.00 and set a buy rating on the stock in a research note on Friday, April 24th. Ten analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $37.10.
Freescale Semiconductor, Ltd. provides microcontrollers and digital networking processors. The Company combines its embedded processors with its complementary analog, sensor and radio frequency devices, and a full suite of software and design tools, to provide integrated embedded processing solutions that streamline customer development efforts, lower their costs and shorten their time to market. The Company’s organizes five product groups: Microcontrollers, Digital Networking, Automotive MCUs, Analog and Sensors, and Radio Frequency Devices. It provides its customers embedded processing solutions for the automotive, networking, industrial and consumer markets. The Company’s focuses on serving the need for increased connectivity and enhanced intelligence critical to these fast growing semiconductor applications. The Company’s product groups are focused on four markets, which include: Automotive Market, Networking Market, Industrial Market, and Consumer Market.