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FSL - Freescale Semiconductor Holdings

post #1 of 10
Thread Starter 

chart.ashx?t=FSL&ty=c&ta=1&p=d&s=l

 

Freescale is the global leader in embedded processing solutions, advancing the automotive, consumer, industrial and networking markets. From microprocessors and microcontrollers to sensors, analog ICs and connectivity – our technologies are the foundation to the innovations that make our world greener, safer, healthier and more connected

post #2 of 10
Thread Starter 

Freescale Rises After IPO Priced at Bottom of Reduced Range

May 26, 2011, 10:38 AM EDT

 

By Lee Spears and Jason Kelly

 

May 26 (Bloomberg) -- Freescale Semiconductor Holdings increased on its first trading day after raising $783 million in an initial public offering, 25 percent less than it originally sought following a reduction in the proposed price range.

Shares of the Austin, Texas-based company rose $1.25, or 6.9 percent, to $19.25 at 10:06 a.m. on the New York Stock Exchange, trading under the ticker symbol FSL.

 

Freescale filed its intention to sell shares to the public in February, saying it would use the proceeds to help reduce its debt, which is about $7.5 billion. The company, the largest supplier of chips to the U.S. automobile industry, borrowed billions as it was taken private by Blackstone Group LP, TPG Capital, Carlyle Group and Permira Advisers LLP in a $17.6 billion transaction in 2006.

“The balance sheet is a large issue,” said Cody Acree, a semiconductor analyst at Williams Financial in Dallas. “There are too many other places to put your money that don’t have this kind of issue.”

 

Freescale sold 43.5 million shares at $18 each in the IPO, according to a company statement. The company lowered the range yesterday to $18 to $20 from $22 to $24. The offering price reflects a 50 percent discount to the average of $36 that investors paid for the company, according to a regulatory filing.

post #3 of 10

Nice push this morning, nearing recent resistance.  Let's see if it can break out or if it pull's back.

 

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post #4 of 10

12% this morning.

 

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post #5 of 10
Thread Starter 

Nice one!

post #6 of 10
Freescale Semiconductor Announces First Quarter 2012 Results
1 days 9 minutes ago - BusinessWire via Comtex
Freescale Semiconductor Holdings I, Ltd. (NYSE:FSL) today announced financial results for the first quarter ended March 30, 2012. Highlights include:

GAAP Results

-- Net sales of $950 million

-- Gross margin of 42.3%

-- Operating earnings of $168 million

-- Loss per share of $.04

Non GAAP Results*

-- Adjusted operating earnings of $119 million

-- Loss per share of $.04

"First quarter results represented solid execution for Freescale," said Rich Beyer, chairman and CEO. "Despite some challenges experienced by our end markets, we maintained solid gross margins and cash and made improvements to our capital structure. Looking ahead, we see market stabilization and improving trends that have us well positioned for improvements in revenue and profitability."

First Quarter Highlights

Net sales for the first quarter of 2012 were $950 million, compared to $1.01 billion in the fourth quarter of 2011 and $1.19 billion in the first quarter of last year.

Income from operations for the three months ended March 30, 2012 was $168 million, compared to $136 million in the fourth quarter of 2011 and a loss of $3 million in the first quarter of 2011. Income from operations for the first quarter of 2012 benefited from the partial settlement of an insurance claim for business interruption following the damage to Freescale's Sendai, Japan fabrication facility during the earthquake in March 2011. These benefits were partially offset by costs associated with closing this facility. The net benefit from these activities for the first quarter of 2012 was $52 million.

The net loss for the first quarter of 2012 was $9 million, or $.04 per share, compared to a loss of $6 million, or $.02 per share, in the fourth quarter of 2011 and a loss of $148 million, or $.75 per share, in the first quarter last year. The net loss for the first quarter of 2012 included $28 million in charges associated with completion of new financing under the senior secured credit facilities and redemption of $500 million principal amount of Senior Subordinated Notes completed during the first quarter.

Adjusted operating earnings (defined in Note 1 to the Notes to the Consolidated Financial Information attached to this press release) for the three months ended March 30, 2012 were $119 million compared to earnings of $144 million in the fourth quarter of 2011 and $201 million in the first quarter of 2011.

The Adjusted net loss (defined in Note 1 to the Notes to the Consolidated Financial Information attached to this press release) for the three months ended March 30, 2012 was $9 million, or a loss of $.04 per share, compared to earnings of $18 million, or $.07 per share, in the fourth quarter of 2011 and $57 million, or $.29 per share, in the first quarter of 2011.

Descriptions of EBITDA, Adjusted EBITDA, adjusted operating earnings (loss), adjusted net earnings (loss) and the reconciliations to our GAAP results are included in the tables and notes attached to this press release.

Product Revenues

Effective January 1, 2012 the company created two new strategic product groups -- Networking & Multimedia Solutions (NMSG) and Automotive, Industrial & Multi-Market Solutions (AISG). NMSG includes our networking processors, applications processors, and radio frequency products. AISG includes our microcontroller, analog and sensor products. The company began reporting net sales based on the new product group structure effective with its first quarter 2012 results and will provide a historical summary on its web site at freescale.com/investor.

The company's net sales figures for the first quarter were as follows:

-- AISG net sales were $527 million, compared to $547 million in the fourth quarter of 2011 and $620 million in the first quarter of 2011.

-- NMSG net sales were $317 million, compared to $379 million in the fourth quarter of 2011 and $397 million in the first quarter of 2011.

-- Cellular net sales were $66 million, compared to $41 million in the fourth quarter of 2011 and $138 million in the first quarter of 2011.

-- Other net sales were $40 million, compared to $46 million in the fourth quarter of 2011 and $39 million in the first quarter of 2011.

Second Quarter 2012 Outlook

For the second quarter of 2012, the company expects:

-- Net sales to be between $975 million and $1.025 billion;

-- Gross margins to increase approximately 50 basis points on a sequential basis.

Other Financial Information

-- Capital Expenditures were $20 million in the first quarter;

-- Cash and Cash Equivalents were $760 million;

-- EBITDA* was $183 million; and

-- Adjusted EBITDA* for the latest twelve months ending March 30, 2012 was $1.12 billion.

*(Adjusted for various items as indicated and defined in Note 1 to the Notes to the Consolidated Financial Information attached to this press release.)
post #7 of 10
Freescale Semi Narrows 1Q Loss; Beyer To Retire From CEO Post
23 hours 26 minutes ago - Dow Jones News

DOW JONES NEWSWIRES
Freescale Semiconductor Holdings I Ltd.'s (FSL) first-quarter loss narrowed as cost cutting continued to offset the chip maker's weakened top line.
The company also said Chairman and Chief Executive Rich Beyer plans to retire as CEO as soon as the company finds a successor. Beyer, 63, joined Freescale in 2008 and helped lead the company through its initial public offering last May.
The chip maker said it has hired an executive recruitment firm and will consider both external and internal candidates.
Freescale has continued to cut its losses in recent quarters by reducing expenses, though it has struggled in recent months amid a slump in the semiconductor sector driven by continued economic uncertainty.
Freescale's top line has struggled due to a conservative stance by some of its automotive, networking and industrial customers, who have reined in orders and worked through excess inventory while they retrench. Still, the company's latest revenue guidance suggested the market is stabilizing.
The latest results also benefited from a partial settlement of an insurance claim for business interruption following damage to Freescale's Sendai, Japan fabrication facility following that country's massive earthquake.
Freescale reported a loss of about $9 million, or 4 cents a share, compared with a year-earlier loss of $148 million, or 75 cents a share. Excluding acquisition costs and other items, the company a year earlier posted a 29-cent profit. Analysts expected a 6-cent loss in the latest quarter.
Revenue fell 20% to $950 million, in line with the company's January projection, which had forecast a top line between $930 million and $990 million.
Gross margin widened to 42.3% from 40.5% amid lower selling costs. Costs tied to overhead, research-and-development and certain write-downs also declined.
Looking ahead to the second quarter, Freescale projected sales between $975 million and $1.03 billion, bracketing analysts' target of $1.02 billion.
Shares were off fractionally at $14.17 after hours. The stock went public at $18.
post #8 of 10
Freescale CEO Says To Leave Company At A Time Of Strength
21 minutes ago - Dow Jones News


-- Freescale CEO says he will be retiring during upturn in chip maker's business
-- Company looking internally and externally for replacements
-- Some analysts and investors worried about Beyer's departure

By Shara Tibken
Of DOW JONES NEWSWIRES

NEW YORK (Dow Jones)--Freescale Semiconductor Holdings I Ltd.'s (FSL) chairman and chief executive said he'll be departing the company at a time he feels bullish about its prospects.
Rich Beyer, speaking in an interview a day after the announcement of his retirement, said the time is right for him to move on, with Freescale in a stronger position than it was previously.
"The company is in the place I wanted it to get to," he said.
Beyer said Thursday he would retire as soon as the chip maker finds a successor. Beyer, 63, joined Freescale in 2008 and helped lead the company through its initial public offering last May. He said he had agreed to stay at the helm of Freescale for at least four or five years when originally accepting the position.
Freescale shares, down 18% over the past three months, slid 14% to $12.30 in recent trading amid the CEO announcement and the tepid reponse to quarterly earnings and guidance.
Some analysts voiced concerns Friday about Beyer's departure, though most said it likely didn't signal any problems at the company. BMO Capital Markets analyst Ambrish Srivastava noted he would have liked key management to stay in place longer given the company just went public a year ago. And Deutsche Bank analyst Ross Seymore said the news "adds uncertainty at a time when investor desire for clarity is at a premium."
Barclays Capital analyst C.J. Muse, meanwhile, noted Beyer's departure raises some questions about further management disruptions. Along with Beyer's retirement plans, one of Freescale's top executives, Lisa Su, left the company a few months ago to join chip maker Advanced Micro Devices Inc. (AMD).
"Mr. Beyer is well respected from both a customer perspective as well as within the investment community, and we think this will clearly be viewed as a loss for FSL," Muse said.
However, Beyer downplayed such worries, saying he'll be turning the reins over during an uptick in Freescale's business, which makes for a more orderly transition.
"The prospects for the company are excellent," he said. "I feel turning over the reins of an important company like this should be done at the beginning of an up-cycle instead of a down-cycle."
Beyer said he would remain CEO until a replacement was hired and would then move into whatever role the board and new chief executive decided, including a a potential chairman, board member or advisory position.
"It is my strong desire to continue to play a role if they feel that could be beneficial," Beyer said. "What we don't want to do is define a set of conditions that might not be acceptable to a candidate who's incredibly talented."
Freescale said Thursday it hired an executive recruitment firm to identify candidates for the CEO role. Beyer, who will play a big role in choosing the next chief executive, said Friday the company is considering members of the management team who have expressed an interest in the role, as well as external candidates.
Beyer said he hoped to have a replacement identified sometime over the next six months or so.
Freescale makes most of its revenue from the automotive and networking sectors. Like many of its rivals, the company's sales have declined in recent quarters as customers pare back orders amid worries about macroeconomic weakness.
Freescale reported Thursday its first-quarter loss narrowed as cost cutting offset the company's weakened top line. But Beyer said results are starting to improve.
He noted bookings strengthened in the first quarter, while the backlog so far in the second quarter is "significantly" stronger than the first period of the year. In addition, the trajectory of backlog for the third quarter is "quite positive," Beyer said.
However, the midpoint of second-quarter's revenue guidance of $975 million to $1.03 million was slightly below analysts' estimates, contributing to the stock decline Friday.
post #9 of 10
multiple supp between 10-12.50
will see if any of them hold

425
post #10 of 10

breaking out a little premarket

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