International Rectifier (IRF) Initated as Market Outperform at JMP Securities

International Rectifier (IRF) has been initiated today with coverage from the research analysts at JMP Securities.  JPM begins this new coverage of IRF with an initial price target set at $32 dollars and rates performance of the stock as “market outperform.”  JPM noted that due to design wins they see intermediate upside to earnings estimations.  Some of the design wins entailed are in cloud computing, automotive and appliance applications.

2011 traded began well for shares of of IRF as 2011 was particularly strong post-September, 2010.  After reaching a high of $35.26 on May 2nd, 2011, shares fell due to earnings which were not in-line with street estimates.  It has only been recently that IRF has managed to shrug off bearish momentum and manage to make a northern-trend headway once again.

International Rectifier is slated to release their next earnings report on August 25th, 2011, and is estimated to post EPS of 52 cents.  Their last earnings report was released on May 2nd, 2011, and announced EPS of 55 cents with revenue totaling $296.7 million which was up 22.7% year to year.  IRF is currently trading below its 50 & 200-day moving averages and 2011 is currently a down year for the company.

International Rectifier Corporation designs, manufactures and markets power management semiconductors.  The company has market capitalization of $1,951,159,230 and 69,759,000 shares outstanding.  IRF has a 52-week high of $35.26 with the low being $17.50 dollars.

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