Nat'l Semiconductor Kept a Buy
National Semiconductor Corp. (NSM - Analyst Report) is an OEM [original equipment manufacturer] of analog and mixed signal integrated circuits. February quarter results beat consensus expectations, on both the top and bottom lines.
Forward guidance is for a revenue decline of 5-10% in the next quarter. New higher-margin products continue to grow in the mix, and management has refocused R&D into areas that should sustain margins.
However, similar to others in the analog space, National was negatively impacted by the recession. We are reiterating our Buy rating on NSM shares.
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| Market Summary | Feb 10, 2010 06:20 am ET |

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