--From SSB
SUMMARY:--International Rectifier--Semiconductors *Orders running ahead of plan quarter to date *Recent positive trends-high unit growth (>50% last 2 quarters), firm pricing, high industry utilization rates remain and rising gross margins remain intact.
Broad based products accelerating. Multi-market suppliers are also seeing some of the strongest trends they've experienced in years, with International Rectifier (IRF, $43 9/16, 1H), Burr-Brown (BBRC, $63 15/16, 1H), National Semi (NSM, $53 1/2, 1H), Analog Devices (ADI, 1H) and Fairchild Semi all presenting bullish outlooks. IRF, we believe, has already made its revenue target for the quarter, which is slightly above our forecast. The company cited solid broad-based demand and firm prices; this environment also bodes well for other MOSFET manufacturers such as Fairchild. |
