Fairchild Semiconductor Intl Stock Rating Reaffirmed by Morgan Stanley (FCS)
Fairchild Semiconductor Intl (NYSE:FCS)‘s stock had its “overweight” rating reissued by equities researchers at Morgan Stanley in a research report issued on Friday. They currently have a $21.00 target price on the stock, up from their previous target price of $18.00. Morgan Stanley’s target price suggests a potential upside of 16.80% from the stock’s previous close.
The analysts wrote, “FCS hosted an eventful analyst day in NY, its first in 4 years. We thought management struck the right tone—confident yet not overpromising. New key hires include COO (compelling presentation from Vijay Ullal), head of sales, power business unit leader, and head of marketing/HR. Execution issues have plagued Fairchild, but we have a strong sense that the management team (from CEO Mark Thompson down) now has a firmer grasp on the business, especially operationally. One example is supply chain/manufacturing improvements, evidenced by a 50% reduction in lead times to 6 weeks.”
Shares of Fairchild Semiconductor Intl (NYSE:FCS) traded down 0.56% during mid-day trading on Friday, hitting $17.88. 667,858 shares of the company’s stock traded hands. Fairchild Semiconductor Intl has a 52-week low of $12.01 and a 52-week high of $18.23. The stock has a 50-day moving average of $16.16 and a 200-day moving average of $14.63. The company has a market cap of $2.148 billion and a price-to-earnings ratio of 106.39. Fairchild Semiconductor Intl also was the target of some unusual options trading on Wednesday. Investors bought 8,289 put options on the stock. This represents an increase of 895% compared to the average volume of 833 put options.
Fairchild Semiconductor Intl (NYSE:FCS) last announced its earnings results on Thursday, July 17th. The company reported $0.14 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.11 by $0.03. The company had revenue of $371.60 million for the quarter, compared to the consensus estimate of $365.55 million. During the same quarter in the prior year, the company posted $0.01 earnings per share. The company’s quarterly revenue was up 4.2% on a year-over-year basis.
Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks upgraded shares of Fairchild Semiconductor Intl from a “neutral” rating to an “outperform” rating in a research note on Monday, July 21st. They now have a $17.70 price target on the stock. Analysts at FBR Capital Markets raised their price target on shares of Fairchild Semiconductor Intl from $14.00 to $17.00 in a research note on Thursday, July 17th. They now have a “market perform” rating on the stock. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. Fairchild Semiconductor Intl has an average rating of “Hold” and a consensus price target of $15.59.
Fairchild Semiconductor International, Inc (NYSE:FCS) is focused on on developing, manufacturing and selling power analog, power discrete and certain non-power semiconductor solutions to a wide range of end market customers.