Analysts' Upgrades, Downgrades: Semtech - TheStreet

Analysts' Upgrades, Downgrades: Semtech

Shares of Semtech, which have surged 42% so far this year, were raised to 'buy.'
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TheStreet.com Ratings upgraded

Amsurg

(AMSG)

to "buy." The company develops and operates ambulatory-surgery centers in partnership with U.S. physician-practice groups.

The numbers:

Fiscal first-quarter revenue rose 12% to $163 million as net income climbed 7.8% to $13 million and earnings per share ascended 8.1% to 40 cents, extending a growth streak to nine quarters. The cash balance is ample with $31 million of reserves. The debt-to-equity ratio is low at 0.6. The net margin is wide at 7.7% but has shed 30 basis points since last year's first quarter.

The stock:

Amsurg is down 10% in 2009, trading at a price-to-earnings ratio of about 13. The company has a market capitalization of $670 million.

TheStreet.com Ratings initiated coverage of

China Bio Energy

(CBEH)

at "hold." The company explores for, produces and distributes biodiesel, heavy oil and finished oil products. Roth Capital just initiated coverage as well, slapping a $9 price target and "buy" rating on the stock.

The numbers:

Fiscal first-quarter revenue surged 65% as net income climbed 54% to $7.2 million and earnings per share jumped 40% to 21 cents. The company has $36 million of cash, a high quick ratio of 10, and just $2.2 million of debt. The net margin is big at 12%.

The stock:

Shares of China Bio Energy are down 5% since being listed on

Nasdaq

. The company has a market capitalization of just $146 million.

TheStreet.com Ratings upgraded

Edison International

(EIX) - Get Report

to "buy." Edison is a holding company for public utility California Edison and several non-utility energy companies.

The numbers:

Fiscal first-quarter revenue fell 9.7% to $2.81 billion as net income declined 20% to $250 million and earnings per share dropped 18% to 75 cents. Edison has $3.6 billion of cash, which works out to a less-than-ideal quick ratio of 0.77. The company has a hefty $13 billion debt load and a high debt-to-equity ratio of 1.22. The net margin has shed 113 basis points since the year-earlier quarter, but is still strong at 8.9%.

The stock:

Edison International has fallen 3.6% in 2009, trading at a very low price-to-earnings ratio of 8.8 and offers a strong 4.01% dividend yield. The company has a market capitalization of more than $10 billion.

TheStreet.com Ratings upgraded

OGE Energy

(OGE) - Get Report

to "buy." The company is an energy-services provider in the south-central U.S.

The numbers:

Fiscal first-quarter revenue decreased 39% to $606 million. But net income and earnings per share increased 29% to $17 million and 18 cents, respectively. OGE has a weak financial position, as reflected by just $146 million of cash and $2.6 billion of debt, which amounts to a quick ratio of 0.3 and a debt-to-equity ratio of 1.36. The net margin improved 146 basis points to 2.76% since the year-earlier quarter.

The stock:

OGE Energy is up 9.3% in 2009 but still trading at a low price-to-earnings ratio of 11. The company offers a 5% dividend yield, more than double the average of the

S&P 500

. The company has a market value of $2.8 billion.

TheStreet.com Ratings upgraded

Semtech

(SMTC) - Get Report

to "buy." The company develops and markets analog and mixed-signal semiconductor products.

The numbers:

Fiscal first-quarter revenue fell 19% to $60 million as net income plummeted 39% to $4.9 million and earnings per share dropped 38% to 8 cents. The company has $248 million of cash on its balance sheet, amounting to a high quick ratio of 8.33 and has no debt or interest expenses. The net margin has fallen 263 basis points since the prior year's first quarter, but remains strong at 8.2%. Semtech said net sales for the second quarter, which ends July 26, will increase 4% to 8% from the previous three months.

The stock:

Semtech has surged 42% in 2009, outperforming all major indexes, and trades at a high price-to-earnings ratio of 29. The company doesn't pay dividends and has a market capitalization just under $1 billion.