Deutsche Bank Reports Strong F4Q Results On National Semiconductor

According to Deutsche Bank, National Semiconductor NSM saw solid F4Q11 results. Deutsche Bank said that NSM reported solid F4Q results, beating DB and the Street on both revenue and EPS. “Our $25 P/T is based on 22x our CY11 EPS estimate of $1.15. This target multiple is above the analog peer group average (18x) to reflect the premium TXN will be paying for NSM.” National Semiconductor closed yesterday at $24.58.