Evercore upgraded Freescale Semiconductor to "buy" from "hold," saying it expects the company to see strong automotive and general purpose microcontroller sales over the next two years. The analyst firm also raised its price target for the company to $30 from $20.
On Tuesday Freescale Semiconductor announced that it acquired fabless semiconductor company Zenverge, known for its advanced HD content processing ICs. The acquisition will "significantly enhance Freescale's content processing, storage and interoperability capabilities for a range of Video Internet of Things applications and markets," according to the company.
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TheStreet Ratings team rates FREESCALE SEMICONDUCTOR LTD as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:
"We rate FREESCALE SEMICONDUCTOR LTD (FSL) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its compelling growth in net income, revenue growth, good cash flow from operations, expanding profit margins and solid stock price performance. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook."