Fairchild Semiconductor International "outperform," estimates raised

07/20/07 - Robert W. Baird

NEW YORK, July 20 (newratings.com) - Analysts at Robert W Baird maintain their "outperform" rating on Fairchild Semiconductor International Inc (FCS), while raising their estimates for the company. The target price is set to $26.

In a research note published yesterday, the analysts mention that the company has reported its 2Q07 pro-forma EPS in-line with the estimates and the consensus. Fairchild Semiconductor International’s gross margins at yearend are likely to be above the earlier peaks due to rising utilization rates and the continuously improving product mix, the analysts say. The company has raised its revenue guidance for 3Q07 by 2%-4%, ahead of the estimates. The EPS estimates for FY07 and FY08 have been raised from $0.50 to $0.55 and from $1.08 to $1.12, respectively.