(FSL) - FSL reported that its first-quarter profit more than doubled

Freescale Semiconductor, Inc. has exceeded earnings estimates in seven consecutive quarters. Three analysts have raised their numbers for this year, while two have done so for next year. Over the past 90 days, this year's estimates have risen 14.5% to $1.98 per share. FSL is currently trading at 13.1x next year's estimates of $2.03 per share, below the long-term growth rate of 15%, giving the stock a PEG ratio of 0.87. Full Analysis Freescale Semiconductor, Inc. (FSL) engages in the design, development, and manufacture of embedded semiconductors for the automotive, consumer, industrial, networking, and wireless markets worldwide. It operates through three segments: Transportation and Standard Products Group (TSPG), Networking and Computing Systems Group (NCSG), and Wireless and Mobile Solutions Group (WMSG). The company sells its products to original equipment manufacturers, original design manufacturers, and contract manufacturers through its own sales force, agents, and distributors. FSL reported that its first-quarter profit more than doubled, driven by particularly strong sales in the networking and computing, and wireless divisions. Net income rose to $212 million, or 48 cents per share, from $85 million, or 24 cents per share, last year. Revenue for the quarter was $1.53 billion, up nearly 6 percent from $1.44 billion. The Freescale team executed well in the first quarter," Michel Mayer, chairman and CEO, said in a prepared statement. "We are starting to see momentum in a number of key areas and our earnings growth continues to be strong." The company reports second-quarter results on July 20. The company has exceeded earnings estimates in seven consecutive quarters. Three analysts have raised their numbers for this year, while two have done so for next year. Over the past 90 days, this year's estimates have risen 14.5% to $1.98 per share. FSL is currently trading at 13.1x next year's estimates of $2.03 per share, below the long-term growth rate of 15%, giving the stock a PEG ratio of 0.87. Additionally, the stock is trading at only 0.8x book value, with a 15% return-on-equity. Note: The Zacks Rank is a very sensitive indicator that can change frequently for an individual stock. This important indicator is updated daily on Zacks.com and is available to Zacks Premium subscribers. As such, it is prudent to check the site for the latest Zacks Rank on the stocks highlighted in this section. Simply click the link for the stock or enter the symbol in the ticker entry box in the upper left hand corner of the web site. Content Courtesy: Zacks Investment Research #1 Ranked Stocks Highlight Archive To truly take advantage of the Zacks Rank, you need to first understand how it works. That is why we created the free special report: Zacks Rank Guide: Harnessing the Power of Earnings Estimate Revisions. Blog Home