Darspal S Mann
Long/short equity, growth at reasonable price, special situations, deep value

Freescale: A Good Execution Story

Freescale Semiconductor Ltd. (NYSE:FSL), after years of restructuring, is shaping up to be a good execution story with growing revenues, expanding margins, increasing market share and deleveraging balance sheet, all in an otherwise muted macro economic environment. The stock, after doing little in the last three years, should deliver for the shareholders in the coming months. Recently, the company has delivered "beat and raise" quarters and the breadth of improving fundamentals suggest that there is upside from here.

Recent revenue growth was helped by double-digit growth from all five major product groups. Besides the top line growth, gross margins have improved consistently for the last many quarters even amid weak IP revenues. More importantly, looking at the leading...

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