National Semiconductor (NSM): Share price defines bullish 'flag' formation

Filed under: Earnings reports, Motorola (MOT), International Business Machines (IBM), Sony Corp ADR (SNE), Texas Instruments (TXN), Technical Analysis, Stocks to Buy

National Semiconductor (NYSE: NSM) manufactures a broad range of analog and mixed signal semiconductor devices and subsystems. Products include power management circuits, display drivers, audio and operational amplifiers, interface products and data conversion devices. These are used in communications, networking, automotive, test measurement and aerospace applications. Customers include IBM (NYSE: IBM), Motorola (NYSE: MOT) and Sony (NYSE: SNE). Texas Instruments (NYSE: TXN) is a major competitor.

The firm pleased investors last week, when it reported Q4 EPS of 34 cents and revenues of $462 million. Analysts had been looking for 26 cents and $449.5 million. The gross margin of 65.9% was up sequentially and year over year, driven by cost efficiencies and an improved product mix of higher-value analog devices. Management also guided Q1 revenues to $460-$475 million ($451.22M consensus) and FY09 EPS to about $1.45-$1.51 ($1.24 consensus).

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