DSW Inc. (NYSE: DSW), Thomas & Betts Co. (NYSE: TNB), Neurocrine Biosciences Inc. (NASDAQ: NBIX), Freescale Semi (NYSE: FSL) and AG Mortgage Investment Trust (NASDAQ: MITT) getting new analyst coverage.
Macquarie initiated coverage on Thomas & Betts Co. (TNB). They placed a “Neutral” rating on the company.
Avondale Partners initiated coverage on DSW Inc. (DSW). They placed an “Outperform” rating and a price target of $50.00 on the company.
MKM Partners initiated coverage on Neurocrine Biosciences Inc. (NBIX). They placed a “Buy” rating and a price target of $12.00 on the company.
Gleacher & Co. initiated coverage on Freescale Semi (FSL). The y placed a “Buy” rating on the company.
Stifel Nicolaus initiated coverage on AG Mortgage Investment Trust (MITT). They placed a “Buy” rating and a price target of $22.00 on the company.
Showing posts with label Freescale. Show all posts
Showing posts with label Freescale. Show all posts
Wednesday, August 10, 2011
Wednesday, February 2, 2011
Citigroup (NYSE:C), Deutsche Bank (NYSE:DB) Lead Managers on Freescale IPO, Credit Suisse (NYSE:CS) and Barclays (NYSE:BCS) Added
After going private in 2006 in a leveraged buyout, Freescale Semiconductor is close to returning to the public arena with an IPO, which is being led by Citigroup (NYSE:C) and Deutsche Bank (NYSE:DB), with additional help from Credit Suisse (NYSE:CS) and Barclays Capital(NYSE:BCS).
In 2006 the company was taken private in a $17.6 billion buyout, which left Freescale heavily indebted. As of the end of 2010, they had long-term debt of 7.58 billion.
After struggling for some time, Freescale seems to have turned the corner, generating better results recently. Revenue in the fourth quarter, which the reported last week rose by 24 percent over the year before, while their losses in the quarter shrunk.
Private equity firms Blackstone Group, Carlyle Group, Permira Funds and TPG Capital, which were involved in the buyout, have all refused to comment on the story.
Even with semiconductor sales improving, concerns over the sustainability weighs on the sector, and Freescale as well.
In 2006 the company was taken private in a $17.6 billion buyout, which left Freescale heavily indebted. As of the end of 2010, they had long-term debt of 7.58 billion.
After struggling for some time, Freescale seems to have turned the corner, generating better results recently. Revenue in the fourth quarter, which the reported last week rose by 24 percent over the year before, while their losses in the quarter shrunk.
Private equity firms Blackstone Group, Carlyle Group, Permira Funds and TPG Capital, which were involved in the buyout, have all refused to comment on the story.
Even with semiconductor sales improving, concerns over the sustainability weighs on the sector, and Freescale as well.
Citigroup (NYSE:C), Deutsche Bank (NYSE:DB) Hired for Freescale IPO
Citigroup (NYSE:C) and Deutsche Bank (NYSE:DB) have been hired by Freescale Semiconductor Inc. to manage its initial public offering, according to people close to the matter.
Freescale Semiconductor Inc. is owned by Blackstone Group LP and TPG Capital, among others.
There will probably be more banks added to the two to help them with their IPO, according to the sources.
Chief Executive Officer Rich Beyer stated in December that capital raised from an IPO would be used take care of $1.2 billion in debt which will be due in 2014.
Freescale was taken private by Blackstone, TPG, Carlyle Group and Permira Advisers LLP. Since then Beyer has lowered costs and debt by closing plants and cutting jobs. He also negotiated with bondholders to lower the $10 billion det to about $8.2 billion today.
Freescale is the biggest supplier of computer chips to the American auto industry.
In the fourth quarter, sales for Freescale rose to $1.18 billion, a gain of 24 percent, with the net loss of the company shrinking to $102 million.
Freescale Semiconductor Inc. is owned by Blackstone Group LP and TPG Capital, among others.
There will probably be more banks added to the two to help them with their IPO, according to the sources.
Chief Executive Officer Rich Beyer stated in December that capital raised from an IPO would be used take care of $1.2 billion in debt which will be due in 2014.
Freescale was taken private by Blackstone, TPG, Carlyle Group and Permira Advisers LLP. Since then Beyer has lowered costs and debt by closing plants and cutting jobs. He also negotiated with bondholders to lower the $10 billion det to about $8.2 billion today.
Freescale is the biggest supplier of computer chips to the American auto industry.
In the fourth quarter, sales for Freescale rose to $1.18 billion, a gain of 24 percent, with the net loss of the company shrinking to $102 million.
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