We initiate coverage of IXYS corporation (NASDAQ: IXYS) with a strong buy recommendation and a price target of $22.5. We believe that 2014 will prove to be a turning point for the Company due to several key factors: introduction of new products into attractive market segments, expanded full range of solution capabilities arising from the acquisition of the Samsung MCU business unit (OTC:SSNLF), and an increased demand for IXYS products leading to higher utilization. The key investment thesis is based on IXYS's solid current fundamentals, and we see the aforesaid factors as additional drivers for corporate and share performance throughout 2014. Key figures investors should understand are:
- Market Cap $400M;
- Net Cash $85M and growing;
- IXYS owns
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