Summary

Other Scenarios:

Buyer: Texas Instruments Incorporated (TXN) Last Price: 35.52 Market Cap.: 41.52B
Target: National Semiconductor Corporation (NSM) Last Price: 24.08 Market Cap.: 5.85B

Lines of Business Summary:

Product Summary:

Overlap & Complementary Sectors

Sector Buyer Target # of Focused Companies
Industrial and Materials   874
Industrial Manufacturing   390
Electrical Equipment and Power Systems   90
Machinery Manufacturing   122
Technology 829
Electronic Components 145
Module/Subassembly   12
Passive   8
Semiconductors 105
Hardware   240
Commercial Electronics   73
Manufacturing Equipment and Services   86
Semiconductor Manufacturing Services   11
Software   237
Industry-Specific   74

- Focused. Denotes that the company is considered focused in this area. In general, Focused Companies draw the majority of their earnings in the sector/product area specified.

- Sector Pure-Plays. Denotes that the company is focused in the selected sector and generates nearly all earnings in the sector/product area specified.

- Sector Participation. Denotes that the company develops products in this line of business.

Sample Products in Similar Lines of Business

Sample Products in Complementary Lines of Business
Buyer (Total: 191)
  • Analog to Digital Converters
  • Audio Converters Family
  • Voice-Band Codecs Family
  • Analog Monitoring & Control Circuits with ADC & DAC Functionality
Target (Total: 64)
  • National Semiconductor Analog to Digital Converters
  • National Semiconductor Audio CODECS
  • National Semiconductor Audio Digital to Analog Converters
  • National Semiconductor Digital to Analog Converters
Buyer
  • C40 MCM Series
  • Data Converters - ECG / EEG Analog Front End
  • Plug-in Power Modules
  • ESD/EMI Protection Solutions
Target
  • National Semiconductor LED Lighting
  • Act Solar PowerString
  • Energy Recommerce, Inc.
  • SolarMagic Technology

Business Relationship Summary:

Top Key Suppliers

Top Key Customers
Buyer (Total: 40)
  • inTEST Corporation (INTT)
  • Aehr Test Systems (AEHR)
  • Taiwan Semiconductor Mfg. Co. Ltd. (ADR) (TSM)
  • QUALCOMM, Inc. (QCOM)
Target (Total: 8)
  • BMC Software, Inc. (BMC)
  • Standard Microsystems Corporation (SMSC)
  • Photronics, Inc. (PLAB)
  • Richardson Electronics, Ltd. (RELL)
Buyer (Total: 18)
  • Nokia Corporation (ADR) (NOK)
  • Apple Inc. (AAPL)
  • Siemens AG (ADR) (SI)
  • Avnet, Inc. (AVT)
Target (Total: 20)
  • Avnet, Inc. (AVT)
  • Arrow Electronics, Inc. (ARW)
  • Apple Inc. (AAPL)
  • Siemens AG (ADR) (SI)

Key Financial Summary:

Key Metrics

  Buyer Target
Number of Employees 28,412 5,800
Revenue Per Employee 497,632.6 237,824.0
Total Revenue 3,525.0 343.9
Total Expenses 2,295.0 252.5
Other Revenue 0.0 0.0
Cost of Revenue 1,656.0 115.2
SG&A Expense 389.0 63.1
Research & Development 393.0 65.6
Other Operating Expense 0.0 0.4
Operating Income 1,230.0 91.4
Unusual Income -143.0 8.2
LT Debt to Capital 0 61.61
Fwd P/E 13.89 19.56
Fwd P/Rev 2.85 3.86
Book Value 10,437.0 649.7
Curr Portion of LTD/Cap Lease 0.0 0.0

Individual Company Summary

Focused

Buyer

Focused (): Technology > Electronic Components > Semiconductors

Target

Focused (): Technology > Electronic Components > Semiconductors > Analog/Mixed Signal

Business Description

Buyer

Texas Instruments Incorporated (TI) is engaged in the designing and making of semiconductors that it sells to electronics designers and manufacturers worldwide. In addition, it sells calculators and related products. The Company has design, manufacturing or sales operations in more than 30 countries. TI has four segments: Analog, Embedded Processing, Wireless and Other. Its products are sold to original equipment manufacturers (OEMs), original design manufacturers (ODMs), contract manufacturers and distributors.

Target

National Semiconductor Corporation (National) is a semiconductor company focused on analog and mixed-signal integrated circuits and sub-systems, particularly in the area of power management. The Company designs, develops, manufactures and markets analog-intensive solutions. It has a diversified product portfolio, which includes power management circuits, audio and operational amplifiers, communication interface products and data conversion solutions. During the fiscal year ended May 30, 2010 (fiscal 2010), approximately 94% of National?s revenue was generated from Analog segment products. Its product line operations are organized under one group, the Product Group. The Company?s portfolio of over 13,000 products is sold to a diversified group of end customers. In October 2009, the Company acquired Energy Recommerce Inc. On June 21, 2010, it acquired the technology of GTronix, a semiconductor company.

Deal Summary

Key Ratios

  Buyer Target
Gross Margin % 53.64 68.87
Operating Margin % 32.32 30.51
Quick Ratio 2.32 6.14
Current Ratio 3.56 8.34
Coverage Ratio 0 -0.11
Total Assets 13,401.0 2,172.2
Return on Equity % 30.93 47.85
Return on Assets % 24.09 14.31
Cash+ ST Inv. Per Share 2.58 3.64
Total Debt 0.0 1,042.6
Total Debt to Equity % 0 160.47
Total Debt to Tangible Equity % 0 179.33
Debt to Asset % 0.00 48.00

Product Summary

Sector Buyer Target
Industrial and Materials  
Industrial Manufacturing  
Electrical Equipment and Power Systems
Heavy-duty and infrastructure equipment and machinery that generate, transmit, and distribute electric power. It also contains electric lighting equipment and components, as well as products enabling end-user use and management of electric power.
  
Machinery Manufacturing
Companies in Machinery Manufacturing create a variety of mechanical systems and components; including machinery used in industrial factories, farming, mining, construction, lawn and garden care, and foodservice industries.
  
Technology
Electronic Components
Module/Subassembly
Self-contained compact electronic unit that can interact with a larger system.
  
Passive
Devices that do not actively affect an electrical signal passing through it.
  
Semiconductors
The Semiconductor sector is comprised of active electronic devices that are built from a material having both conductive and nonconductive properties. Semiconductor devices serve as the core electronic components of virtually all electronic equipment.
Hardware  
Commercial Electronics
The Commercial Electronics sector encompasses electronics-based products used to either facilitate business operations, or directly contribute to company revenue.
  
Manufacturing Equipment and Services  
Semiconductor Manufacturing Services
Semiconductor manufacturers that make, or test chips for third parties.
  
Software  
Industry-Specific
Software that has functionality specific to a vertical industry.
  

- Focused. Denotes that the company is considered focused in this area. In general, Focused Companies draw the majority of their earnings in the sector/product area specified.

- Sector Pure-Plays. Denotes that the company is focused in the selected sector and generates nearly all earnings in the sector/product area specified.

- Sector Participation. Denotes that the company develops products in this line of business.

Product Details

Sector Buyer Target
Industrial and Materials  
Industrial Manufacturing  
Electrical Equipment and Power Systems  
Lighting Equipment and Components  
Energy Efficient Lighting (LED Lighting)
Alternative technologies lighting, such as light emitting diode (LED) and fiber optics and other energy efficient lighting systems.

Target Products:

  • National Semiconductor LED Lighting
  
Power Generation/Support Products  
Renewable Energy and Distributed Generation  
Photovoltaic/Solar Cells and Systems
Photovoltaic and solar cell technology convert light energy into electricity without burning fuel, creating no pollution in the power generation process.

Target Products:

  • Act Solar PowerString
  • Energy Recommerce, Inc.
  • SolarMagic Technology
  
Machinery Manufacturing  
Industrial Machinery Parts and Support Equipment  
Sensors and Instruments for Monitoring and Control
Miscellaneous sensors and instruments for monitoring and controlling various industrial process variables. Includes automated quality control sensors, hand dials, meters, and miscellaneous safety controls. Advanced building, home, and appliance control products are also part of this group. These products are used to monitor and manage temperature, humidity, and power consumption.

Target Products:

  • National Semiconductor Temp Sensors
  
Technology
Electronic Components
Module/Subassembly  
Hybrid Circuit/Multichip Module (MCM)  
Hybrid Circuits  
Aerospace and Defense
Hybrid circuits dedicated to military and aerospace applications.

Buyer Products:

  • C40 MCM Series
  
Medical
Hybrid circuits dedicated to medical applications.

Buyer Products:

  • Data Converters - ECG / EEG Analog Front End
  
Power  
DC-DC Converter
Modules used to convert direct current voltage from one level to another.

Buyer Products:

  • Plug-in Power Modules
  
Passive  
Radio Frequency (RF)/Microwave  
Filters  
Electromagnetic Interference (EMI)
Used for eliminating electromagnetic interference.

Buyer Products:

  • ESD/EMI Protection Solutions
  
Electrostatic Discharge (ESD) Protection
Similar to a decoupling capacitors often used as part of the front end of a connector.

Buyer Products:

  • ESD/EMI Protection Solutions
  
Semiconductors
Analog/Mixed Signal
Data Conversion
Analog to Digital Converter (ADC)
Chips used to convert an analog signal into a digital signal.

Buyer Products:

  • Analog to Digital Converters

Target Products:

  • National Semiconductor Analog to Digital Converters
Audio Converter
Analog to Digital Converter (ADC)
Chips used to convert data from analog to digital in audio applications.

Buyer Products:

  • Audio Converters Family
  
Codec (Analog to Digital/Digital to Analog)
Chips used to convert data from analog to digital and digital to analog in audio applications.

Buyer Products:

  • Voice-Band Codecs Family
  • Audio Converters Family

Target Products:

  • National Semiconductor Audio CODECS
Digital to Analog Converter (DAC)
Chips used to convert data from digital to analog in audio applications.

Buyer Products:

  • Audio Converters Family

Target Products:

  • National Semiconductor Audio Digital to Analog Converters
Codec (Analog to Digital/Digital to Analog)
Chips used to convert data from analog to digital and digital to analog.

Buyer Products:

  • Analog Monitoring & Control Circuits with ADC & DAC Functionality
  
Digital to Analog Converter (DAC)
Chips used to convert a digital signal into an analog signal.

Buyer Products:

  • Communication Digital to Analog Converter (DAC)
  • Digital to Analog Converters

Target Products:

  • National Semiconductor Digital to Analog Converters
Video Converter  
Analog to Digital Converter (ADC)
Chips used to convert data from analog to digital in video applications.

Buyer Products:

  • Video ADCs
  
Digital to Analog Converter (DAC)
Chips used to convert data from digital to analog in video applications.

Buyer Products:

  • Video DACs
  
Voltage to Frequency/Frequency to Voltage Converter
Chips used to convert voltage to frequency.

Target Products:

  • National Semiconductor Voltage to Frequency Converters
  
Interface
Audio Line Drivers/Receivers
Interface chips used in audio applications.

Buyer Products:

  • Digital Audio Interface ICs
  • Audio Line Drivers and Receivers Family
  
Crosspoint Switch
Integrated circuit that performs signal routing function through a matrix. Chips placed at this level are generally not targeted at advanced networking applications (see Crosspoint Switches under Specialized branch) and operate at less than 1 gigabit per second throughput.

Buyer Products:

  • Crosspoint-Switch

Target Products:

  • National Semiconductor Crosspoints
Infrared Receiver/Transmitter (Transceiver)
Chips which help facilitate communications between different devices using infrared light.

Buyer Products:

  • Infrared Data Access (IrDA) Family
  
Low Voltage Differential Signaling (LVDS)
Chips specialized for high-speed, digital LVDS communication. Interface chips used in Flat Panel Displays are often based on LVDS.

Buyer Products:

  • LVDS/LVDM Family

Target Products:

  • National Semiconductor LVDS Drivers & Receivers
SCSI Terminator
Interface chips used in SCSI (Small Computer System Interface) protocol applications.

Buyer Products:

  • SCSI Bus Termination/ Parallel Interface Family
  
Serial Communications Interface (Transmitter/Receiver)
Multi-Protocol
Serial interface chips capable of supporting several different communications standards. Examples include RS-232, RS-422 and RS-485.

Buyer Products:

  • Data Line Circuits
  
Single/Dual Protocol
Serial interface chips capable of supporting one or two different communications standards. Examples include RS-232, RS-422 and RS-485.

Buyer Products:

  • RS-232 / RS-422 / RS-485 Transceivers
  • Data Line Circuits

Target Products:

  • National Semiconductor RS-422/423 Drivers
  • National Semiconductor RS-485 Drivers
  • National Semiconductor RS-232 Drivers
Universal Asynchronous Receiver Transmitter (UART)
Chips used to convert parallel bytes from the CPU into serial bits for transmission and vice versa.

Buyer Products:

  • UARTs Family

Target Products:

  • National Semiconductor UARTs
Linear
Active Filter
Chips used to filter out a desired signal. Includes bandpass, universal and other types of basic filter ICs.

Buyer Products:

  • Analog Integrated Filter Amplifiers
  • UAF42
  
Amplifier
Audio
Operational (Op-Amp)
Op-Amp specialized for audio applications.

Buyer Products:

  • Audio Op Amps

Target Products:

  • National Semiconductor Audio Amplifiers
Power
Integrated circuits used to amplify power in an audio application.

Buyer Products:

  • Headphone Amplifiers
  • Audio Power Amplifiers

Target Products:

  • National Semiconductor Audio Subsystems
  • National Semiconductor Audio Amplifiers
Pre-Amplifier
Integrated circuits used to amplify a signal from a signal source.

Buyer Products:

  • Microphone Preamps Family

Target Products:

  • National Semiconductor Audio Amplifiers
Volume Control
Amplifiers used to control or adjust volume levels.

Buyer Products:

  • Audio Volume Controls Family
  • Audio Power Amplifiers

Target Products:

  • National Semiconductor Audio Amplifiers
Gain/Difference
Integrated circuits used to achieve variable levels of voltage, current, or power gain.

Buyer Products:

  • Programmable Gain Amplifiers / Variable Gain Amplifiers
  • High Speed Amplifiers (Greater than equal to 50MHz)
  • Difference Amplifiers

Target Products:

  • National Semiconductor Variable Gain Amplifiers
Instrumentation
Amplifiers used in instrumentation applications.

Buyer Products:

  • Instrumentation Amplifiers
  
Isolation/Buffer
Integrated circuits providing isolation between different grounds that allows and drives a signal from one system to another.

Buyer Products:

  • Isolation Analog Amplifiers
  • High Speed Amplifiers (Greater than equal to 50MHz)

Target Products:

  • National Semiconductor Buffers
Logarithmic
Integrated circuits used for logarithmic conversions.

Buyer Products:

  • Logarithmic Amplifiers
  
Multiplier/Divider
Integrated circuits used to perform analog multiplication and/or division functions.

Buyer Products:

  • Analog Multipliers
  
Operational (Op-Amp)
Used to detect and amplify weak (low level) analog signals and are included in many systems. The operational amplifier is the fundamental building block in analog systems design.

Buyer Products:

  • Standard Linear Amplifier
  • Fully Differential Amplifier
  • Precision Operational Amplifiers
  • High Speed Amplifiers (Greater than equal to 50MHz)

Target Products:

  • National Semiconductor PowerWise High Speed Op Amps
  • National Semiconductor PowerWise Current Sense Amplifiers
Voltage Comparator
Integrated circuits used to compare two input signals and output a digital signal depending on their relationship.

Buyer Products:

  • Comparators Family

Target Products:

  • National Semiconductor Comparators
Analog Switch/Multiplexer
Integrated circuits used in analog multiplexing and switching applications.

Buyer Products:

  • 4-20mA Conditioning Current Loops
  • TS Switch Family
  • Analog Switches/Multiplexers

Target Products:

  • National Semiconductor Analog Multiplexers
Power
Motor Control
AC Motor Control
Integrated circuits used to control power supplied to an AC motor.

Target Products:

  • National Semiconductor Motor Control ICs
  
DC Motor Control
Integrated circuits used to control power supplied to a DC motor.

Buyer Products:

  • Power+ Control Family
  • Motion/Motor Control Family

Target Products:

  • National Semiconductor Motor Control ICs
Power Conversion/Control
DC-DC Converter/Charge Pump
Integrated circuits used to convert DC current from one voltage to another.

Buyer Products:

  • Voltage Translators
  • DC/DC Converters (Integrated Switch)
  • Charge Pump Family

Target Products:

  • National Semiconductor SIMPLE SWITCHER Power Modules
  • National Semiconductor PowerWise Synchronous Buck Regulators
  • National Semiconductor DC-DC Controllers
Power Factor Controller
Integrated circuits used to perform power factor correction.

Buyer Products:

  • Power Factor Correction (PFC) Family
  
Reference
Integrated circuits used to provide a reference voltage.

Buyer Products:

  • Current Shunt Monitors
  • Voltage References and Shunts Family

Target Products:

  • National Semiconductor Voltage References
  • National Semiconductor Current References
Voltage Regulator/Controller
Integrated circuits used to deliver a constant DC voltage.

Buyer Products:

  • Standard Voltage Regulator Family
  • Low Dropout (LDO) Controller Family
  • Low Dropout (LDO) Regulator Family
  • Fusion Digital Power Family
  • DC/DC Controller Family

Target Products:

  • National Semiconductor SIMPLE SWITCHER Voltage Regulators
  • National Semiconductor Low Dropout Regulators
  • National Semiconductor Linear Regulators
Power Distribution
Display Driver
Light Emitting Diode (LED)
Integrated circuits controlling power needed to drive LED displays.

Buyer Products:

  • LED Decoders and Drivers

Target Products:

  • National Semiconductor General LED Drivers
  • National Semiconductor PowerWise LED Drivers
Liquid Crystal Display (LCD)
Integrated circuits controlling power needed to drive LCD displays.

Buyer Products:

  • LCD Decoders and Drivers Family

Target Products:

  • National Semiconductor LCD Drivers
Vacuum Fluorescent
Integrated circuits controlling power needed to drive vacuum fluorescent displays.

Target Products:

  • National Semiconductor VF Drivers
  
Hot Swap Controllers
Power ICs enabling electronic system components or subsystems to be added or removed while the system is still operating.

Buyer Products:

  • Hot Swap Controllers/Switches

Target Products:

  • National Semiconductor Hot-Swap Controllers
Power Driver (MOSFET/IGBT Driver)
Integrated circuits used to drive MOSFETs or IGBTs.

Buyer Products:

  • CCFL Backlight Converters
  • PWM Solenoid/Valve Drivers
  • PWM Power Drivers
  • Power+ Logic Family
  • SSTL Family
  • Power+ Control Family
  • MOSFET and Power Drivers Family
  • Peripheral Drivers and Actuators Family

Target Products:

  • National Semiconductor SIMPLE SWITCHER Controller Series
  • National Semiconductor MOSFET Drivers
Power Switches
Integrated circuits used to switch and distribute power in an electronic system. USB and PCMCIA related power switches are typical examples.

Buyer Products:

  • Smart Power Switches
  • USB Power Switches
  • PCMCIA/Cardbus Switch Matrix

Target Products:

  • National Semiconductor Power Sequencer
  • National Semiconductor USB Power Switch
Specialty
Battery Management
Integrated circuits used to charge, monitor, gauge, or protect a battery.

Buyer Products:

  • Lithium Ion Protection
  • Charger Front End Protection
  • Battery Chargers Family
  • Battery Fuel Gauges
  • Battery Authentication

Target Products:

  • National Semiconductor Battery Chargers
EMI Suppression
Integrated circuits designed to electronic systems from electromagnetic interference (EMI).

Buyer Products:

  • ESD/EMI Protection Solutions
  
Microprocessor Supervisor
Integrated circuits used to monitor power supplied to a microprocessor.

Buyer Products:

  • Supervisor/ Reset IC/ & Sequencers

Target Products:

  • National Semiconductor Power Supervisors
Power Management Technology
Involves the licensing of proprietary power management technology.

Buyer Products:

  • Ciclon Semiconductor Power Management Technology
  • Commergy Technologies Energy Efficient Architecture

Target Products:

  • PowerWise Adaptive Voltage Scaling
Power-over-Ethernet (PoE) Controllers
ICs designed to allow power to be transported over the same network cables as data.

Buyer Products:

  • Power-over-Ethernet Family

Target Products:

  • National Semiconductor Power over Ethernet Controllers
Single-Chip Power Management System
Highly integrated, multi-function ICs serving as a complete, or nearly complete, power management device in an electronic system. IC integrates most of the needed power functionality and may also include some basic logic capabilities. Devices are most commonly specialized for cell phones and other hand-held equipment.

Buyer Products:

  • PMIC Solutions
  • Wireless Power Management ICs

Target Products:

  • National Semiconductor Integrated Power Management Units
Radio Frequency (RF)
Frequency Control
Frequency Synthesis/Prescaler
Frequency Synthesis/Prescaler provides a stable frequency signal into an arrangement of passive elements

Buyer Products:

  • Clock and Timers Family - RF Synthesizers

Target Products:

  • National Semiconductor PLLs
Mixers
Mixers are comprised of upconverter and downconverter mixers. The upconverter mixer up-converts any one of the possible RF input channels to a fixed intermediate frequency (IF) such that channel selectivity can be achieved by subsequent filtering. The downconverter mixer down-converts to the desired IF frequency with its output being filtered by a second IF SAW filter, commonly with a passband only one channel wide.

Buyer Products:

  • Digital Up and Down Converters
  
Modulators/Demodulators
Modulators are devices in the transmitter section of a wireless system that combine digital information with an RF signal by varying the phase and amplitude of the signal so that the resulting signal can be transmitted. Demodulators reverse this process in the receiver section by taking received RF signals and recovering the embedded digital information for further processing.

Buyer Products:

  • IQ Modulator/Demodulator
  
Transmitters/Receivers  
General
General applications RF transmitters/receivers.

Buyer Products:

  • IF Transceivers
  • ISM Band Family
  • Low Power RF Protocols - ZigBee/SimpliciTI/802.15.4 MAC Products
  • Low Power RF-IC Products
  
Specialized  
Bluetooth
Bluetooth wireless technology revolutionizes the personal connectivity market by providing freedom from wired connections - enabling links between mobile computers, mobile phones, portable handheld devices, and connectivity to the Internet.

Buyer Products:

  • WiLink Solution
  • NaviLink Solution
  • Bluelink Platform
  
GPS
The Global Positioning System (GPS), a worldwide radio-navigation system formed from a constellation of 24 satellites and their ground stations, allows people with ground receivers to pinpoint their geographic location.

Buyer Products:

  • WiLink Solution
  • NaviLink Solution
  
Wireless LAN (WLAN)
RF transceiver chip specialized to operate in a Wireless LAN (WLAN) or similar environment.

Buyer Products:

  • Wireless Infrastructure Digital Radio Products
  • WiLink Solution
  • 802.16d/e RF Chipset Solution
  
Specialty
Application Specific
Automotive
ICs designed to perform specific analog or mixed-signal functions in automobiles.

Buyer Products:

  • Automotive Family

Target Products:

  • National Semiconductor Automotive ICs
Human Interface Device
Touchscreen Controllers
ICs designed to perform specific analog or mixed-signal, interface functions in touchscreen displays.

Buyer Products:

  • Touch Screen Controllers

Target Products:

  • National Semiconductor Touchscreen Controllers
Sensor
Potentiometer
Chips used to control the amount of current flowing through a circuit.

Buyer Products:

  • Digital Potentiometers
  
Temperature
Chip used to measure temperature.

Buyer Products:

  • Temperature Sensors

Target Products:

  • National Semiconductor Thermal Management Products
Timing
Clock Generator
Integrated circuits specialized to provide timing signals for microprocessors, buses, memory and other system components.

Buyer Products:

  • Clock Generation Family
  • Memory Interface Clocks and Registers
  • Wireless Base Station Clocks
  • Digital Media Systems Clocks
  
Distribution/Driver
Integrated circuits used to distribute clock signals.

Buyer Products:

  • Clock Distribution Family (PLL & Non-PLL Buffers)

Target Products:

  • National Semiconductor Clock Distributors
Real Time Clock
Chips used to maintain a system's time and date.

Buyer Products:

  • Real-Time Clocks Family

Target Products:

  • National Semiconductor Real Time Clocks
Signal Generator/Oscillator
Basic, integrated circuits used to generate periodic waveforms.

Buyer Products:

  • PLL/Oscillators

Target Products:

  • National Semiconductor Oscillators
Discrete  
Current Rectification/Regulation  
Schottky Diode/Rectifier
Discrete device that converts low voltage alternating current into direct current. Differs from other diode/rectifiers because it is silicon on barrier metal, without a PN junction.

Buyer Products:

  • Schottky Diode Arrays Family
  
Power (1 Watt or greater)  
Field Effect Transistor (FET)
Transistors that are used primarily for applications that are less than 600 volts.

Buyer Products:

  • PMOS Switches
  
Voltage Suppression  
Transient Voltage Suppressor (TVS)
Discrete devices that protect against transient voltage spikes.

Buyer Products:

  • TVC Translation Voltage Clamp
  • USB Transient Voltage Suppressor Family
  
Memory  
Nonvolatile  
Legacy
Nonvolatile memory chips built around legacy technologies.

Buyer Products:

  • PROM Family
  
Specialty  
First In First Out (FIFO)
Used to pass data between systems operating at different frequencies.

Buyer Products:

  • FIFO Family
  
Nonvolatile Controller
Supplies back-up power to SRAM's when main power supply is cut.

Buyer Products:

  • NVSRAM Family
  
SRAM plus Lithium Battery
SRAM with small battery on-chip in case of power loss.

Buyer Products:

  • NVSRAM Family
  
Processor
Digital Signal Processor (DSP)  
16-Bit
16-bit DSPs.

Buyer Products:

  • C5000 Low Power DSP
  
32-Bit
32-bit DSPs.

Buyer Products:

  • OMAP-Vox Solution
  • OMAP-DM Processors
  • OMAP Application Processors
  • C6000 High Performance DSPs
  • C5000 Low Power DSP
  
Microcontroller (MCU)
16-Bit
16-bit microcontrollers. 16-bit devices, which may technically be classified as 16-bit microprocessors, are also included.

Buyer Products:

  • MSP430 Family

Target Products:

  • National Semiconductor Microcontrollers
  • National Semiconductor Connectivity Processors
32-Bit
32-bit microcontroller.

Buyer Products:

  • C2000 32 Bit Real-Time MCU's
  • ARM Cortex-R4F-based MCUs
  • Stellaris Series
  
8-Bit
8-bit microcontrollers. 8-bit devices, which may technically be classified as 8-bit microprocessors, are also included.

Target Products:

  • National Semiconductor Microcontrollers
  
Microprocessor (MPU)  
Embedded  
RISC-based (Reduced Instruction Set Computer)  
ARM
Embedded Processor built around a microprocessor core licensed from ARM Holdings.

Buyer Products:

  • Sitara ARM Microprocessors
  • OMAP Application Processors
  
Programmable Logic/ASIC  
Application Specific Integrated Circuit (ASIC)  
Design Services  
Full-Service
Full-service design houses offer their customers a wide range of capabilities, including expertise in memory, logic, and analog functions.

Buyer Products:

  • ASICs
  
Standard/Advanced
ASICs designed and built using today's advanced and leading-edge manufacturing processing technology.

Buyer Products:

  • ASICs
  
Programmable Logic Device  
Simple Programmable Logic Device
Very basic programmable logic devices. Chips generally have 1000 gates or less or less than 32 Macrocells.

Buyer Products:

  • PAL Family
  
Specialized
Communications
Networking
Advanced Interface
High Speed Crosspoint Switch
Integrated circuit that performs signal routing function through a matrix, primarily used in digital video, microwave and fiber-optic distribution, high-speed automatic test equipment, data communication and telecommunication applications. Chips placed at this level are generally targeted at advanced networking applications and provide a minimum of 1 gigabit per second throughput.

Buyer Products:

  • Crosspoint-Switch (>1 Gbps)

Target Products:

  • National Semiconductor Crosspoints
SERDES
Integrated circuits used in advanced interface applications. Chips serialize and deserialize data for transmission in high-speed, point-to-point LAN, WAN, and high-performance backplane environments.

Buyer Products:

  • Gigabit General/Ethernet/Fibre Channel Transceivers/SERDES

Target Products:

  • National Semiconductor SerDes
Fiber Optics Support  
Laser Driver  
2.488 Gigabits per second
Laser driver capable of driving a laser for data transfer rates up to 2.488 gigabits per second.

Buyer Products:

  • Optical Module ICs - Laser Drivers
  
622.08 Megabits per second or Less
Laser driver capable of driving a laser for data transfer rates up to 622.08 megabits per second.

Buyer Products:

  • Optical Module ICs - Laser Drivers
  
9.953 Gigabits per second
Laser driver capable of driving a laser for data transfer rates up to 9.953 gigabits per second.

Buyer Products:

  • Optical Module ICs - Laser Drivers
  
Post Amplifier  
2.488 Gigabits per second
Post amplifier for systems with data transfer rates up to 2.488 gigabits per second.

Buyer Products:

  • Optical Module ICs - Limiting Amplifiers
  
622.08 Megabits per second or Less
Post amplifier for systems with data transfer rates up to 622.08 megabits per second.

Buyer Products:

  • Optical Module ICs - Limiting Amplifiers
  
9.953 Gigabits per second
Post amplifier for systems with data transfer rates up to 9.953 gigabits per second.

Buyer Products:

  • Optical Module ICs - Limiting Amplifiers
  
Transimpedance Amplifier  
2.488 Gigabits per second
TIA for systems with data transfer rates up to 2.488 gigabits per second.

Buyer Products:

  • Optical Module ICs - Transimpedance Amplifiers
  
622.08 Megabits per second or Less
TIA for systems with data transfer rates up to 622.08 megabits per second.

Buyer Products:

  • Optical Module ICs - Transimpedance Amplifiers
  
9.953 Gigabits per second
TIA for systems with data transfer rates up to 9.953 gigabits per second.

Buyer Products:

  • Optical Module ICs - Transimpedance Amplifiers
  
Local Area Network (LAN)
Control Network  
Transceiver
Physical Layer (PHY) ICs used to send and receive data in a control network, usually over twister pair wires or power lines.

Buyer Products:

  • Interface IC & Connectivity Solutions - CAN Transceivers
  
Enterprise LAN
Ethernet
Controller/Media Access Controller
Integrated circuits performing control functions in Ethernet communications, usually a digital circuit.

Target Products:

  • National Semiconductor Ethernet ICs
  
Physical Layer (PHY)/Transceivers
Integrated circuits at the physical layer of Ethernet communications, the sending and receiving of data.

Buyer Products:

  • Industrial Ethernet PHY
  • Gigabit Ethernet/Fibre Channel Transceivers Family

Target Products:

  • National Semiconductor Ethernet ICs
Switch
Integrated circuits performing switching functions in Ethernet systems.

Buyer Products:

  • LAN Switches
  
Wireless LAN (WLAN) Controllers
Integrated circuits specialized to perform the digital control functions required in a wireless LAN (WLAN). Wireless LAN control chips may have RF capabilities integrated on-chip or may work with an RF transceiver optimized for WLAN communications (see Radio Frequency ICs).

Buyer Products:

  • WiLink Solution
  • 802.16d/e RF Chipset Solution
  
Specialized/Packet Processor  
Voice over Internet Protocol (VoIP) Processor
Integrated circuits designed to compress and decompress audio data, generally specialized to support Voice over IP (VoIP) communications.

Buyer Products:

  • VoIP Products - TNET Series
  
Wide Area Network (WAN)  
Digital Subscriber Line (DSL)  
Asymmetric DSL (ADSL)  
ADSL Analog Front End
Integrated circuits performing analog to digital conversion between signal carried over copper cables and the ADSL transceiver.

Buyer Products:

  • DSL Analog Front-End Family
  
ADSL Transceiver
DSP-based chip used to perform ADSL-specific algorithms.

Buyer Products:

  • ADSL Codecs
  
Synchronous Optical Network/Synchronous Digital Hierarchy (SONET/SDH)  
Physical Layer (PHY)  
Transceiver (Multiplexer/Demultiplexer)
Integrated circuits used to multiplex several payloads together or demultiplex one payload into multiple payloads.

Buyer Products:

  • Sonet/Optical Transceivers
  
Telecommunications  
Wireless  
Bluetooth Controller
A digital control chip which enables an electronic system to communicate using the Bluetooth protocol. These chips may have integrated RF capabilities or work with a Bluetooth RF transceiver.

Buyer Products:

  • Bluelink Platform
  
Cellular Phone  
Cellular Baseband Processor
Central chip in a wireless handset.

Buyer Products:

  • OMAP-Vox Solution
  • LoCosto Single Chip family
  
Cellular Baseband/Interface
Chips specialized to facilitate communication between the radio frequency and baseband processor section of a wireless handset. Chips may also be found in base station applications.

Buyer Products:

  • OMAP-Vox Solution
  • LoCosto Single Chip family
  
GPS Controller
A digital control chip that enables an electronic system to pinpoint its geographic location using GPS (Global Positioning System) technology. These chips may have integrated RF capabilities or work with a GPS receiver.

Buyer Products:

  • NaviLink Solution
  
Multimedia
Audio  
Effects Processor
Chips designed to create audio effects.

Buyer Products:

  • Digital Audio Processors
  
Image Sensor/Image Capture  
Digital Image Processor
Chips performing key image processing functions, usually in a digital camera. Other applications include printers, copiers, and scanners.

Buyer Products:

  • OMAP-DM Processors
  • OMAP Application Processors
  
Sensor  
Charge Coupled Device (CCD)
Image Sensors manufactured using traditional CCD technology.

Buyer Products:

  • CCD Area Image Sensors Family
  
Signal Processor (Data Conversion)  
CMOS-Based (Complementary Metal Oxide Semiconductor)
Signal processor specialized for imaging systems using a CMOS-based sensor.

Buyer Products:

  • CCD/CMOS/CIS Imaging Analog Front End Family
  
Charge Couple Device/Contact Image Sensor (CCD/CIS)
Signal processors specialized for imaging systems using a CCD or contact image sensor.

Buyer Products:

  • CCD/CMOS/CIS Imaging Analog Front End Family
  
Charge Coupled Device (CCD)
Signal processors specialized for imaging systems using a CCD.

Buyer Products:

  • CCD/CMOS/CIS Imaging Analog Front End Family
  
Video
Digital Image Projection/Micromirror Device
Specialized microchips that use built-in microscopic mirrors to project images.

Buyer Products:

  • DLP Cinema Family
  
Display
Digital Image Manipulation/Control
Chips used to control a video display or to manipulate images for display.

Target Products:

  • National Semiconductor Video Chipsets
  
System to Display Communications Interface
Chips used to facilitate signal transmission between an electronic system and the system's display.

Buyer Products:

  • Interface IC & Connectivity Solutions - Display Interface - PanelBus Family
  • Interface IC & Connectivity Solutions - Display Interface - DVI/HDMI Repeater Switch
  • Interface IC & Connectivity Solutions - Display Interface - Display Port
  • Interface IC & Connectivity Solutions - Display Interface - FlatLink (LVDS) Family

Target Products:

  • National Semiconductor Mobile Pixel Link
  • National Semiconductor Flat Panel Display Link
  • National Semiconductor LVDS Display Interface
Graphics Accelerator/Controller  
Handheld
Chips designed to offload graphics and imaging intensive calculations from a cellular phone or other handheld device's central processor.

Buyer Products:

  • DaVinci Video Processor
  • OMAP Application Processors
  
Television  
High/Radio Frequency  
Cable/Satellite/Terrestrial Front Ends
Integrated circuits specialized to receive, convert, and process television signals in Cable, Satellite, and Terrestrial Television applications.

Buyer Products:

  • Puma 5 Family
  
Radio Frequency Tuner
RF tuners receive radio frequency signals and filter out all but the desired signal frequency. Traditionally, this function has required multiple electronic components. Tuners are needed in televisions, VCRs, set-top boxes, AM/FM radios, and cable modems.

Buyer Products:

  • Tuners
  
Set-Top Box Controller/Subsystem
Chips specialized to perform many of the key functions required in a set top box.

Buyer Products:

  • Puma 5 Family
  
Video Decoding/Filtering  
NTSC/PAL (National TV Standards Committee/Phase Alternating Line)  
Decoder
Chips used to decode NTSC and PAL television signals.

Buyer Products:

  • Video Encoders/Decoders Family
  
Peripheral  
Enclosure Management Controller
ICs specialized to monitor the environment within servers and storage subsystems. Chip detects drives, monitors temperature and power supply, and controls fan speed.

Buyer Products:

  • Temp Monitoring & Fan Control ICs
  
Input/Output (I/O) Controllers  
IEEE 1394/Firewire
I/O chips specialized for IEEE 1394/Firewire communications.

Buyer Products:

  • Interface IC & Connectivity Solutions - 1394 - 1394 Link Layer/ Physical Layer Controller Family
  • Interface IC & Connectivity Solutions - 1394 - 1394 Integrated Devices Family
  
USB and Flash Memory Controllers
I/O chips specialized for USB connections and/or flash memory controllers..

Buyer Products:

  • USB Connectivity ICs
  
Storage  
Magnetic Storage  
Hard Disk Drive (HDD) Controller
Chips specialized to control a hard disk drive.

Buyer Products:

  • TI Storage Products Group
  
System Bus  
Bridges  
PCI to PCI
Bridge devices used for interface between two PCI buses.

Buyer Products:

  • PCI Bridge Family
  
Bus Controller
Integrated memory and system devices designed to control ISA or PCI bus signal on a board.

Buyer Products:

  • PCI CardBus Controllers Family
  
Security/Identification  
Radio Frequency Identification (RFID)
Integrated circuit specialized to be used in radio frequency identification (RFID) applications. RFID is frequently employed retail, manufacturing, and warehouse environments.

Buyer Products:

  • TI-RFid
  
Standard Logic
Bipolar  
Schottky/Transistor-Transistor Logic
Traditional forms of Bipolar standard logic.

Buyer Products:

  • AS Family
  • LS Family
  • S Family
  • TTL Family
  • FB Family
  • ALS Family
  
Bipolar Complementary Metal Oxide Semiconductor (BiCMOS)  
3.3 Volts or less
BiCMOS logic used in applications requiring 3.3 volts or less of power.

Buyer Products:

  • ALVT Family
  • LVT Family
  • ALB Family
  
5 Volts or higher
BiCMOS logic used in applications requiring 5.0 volts or more of power.

Buyer Products:

  • FCT Family
  • ABTE Family
  • BCT Family
  • ABT Family
  
Complementary Metal Oxide Semiconductor (CMOS)  
1.8 Volts or less
CMOS logic ICs used in applications requiring 1.8 volts or less of power.

Buyer Products:

  • AUP Family
  • AUC Family
  • HSTL Family
  • AVC Family
  
2.5 Volts
CMOS logic ICs used in applications requiring 2.5 volts of power.

Buyer Products:

  • AVC Family
  
3.3 Volts
CMOS logic ICs used in applications requiring 3.3 volts of power.

Buyer Products:

  • LV Family
  • LVC Family
  • AVC Family
  • AHC Family
  • AHCT Family
  • ALVC Family
  
5 Volts or higher
CMOS logic ICs used in applications requiring 5.0 volts or more of power.

Buyer Products:

  • HCT Family
  • HC Family
  • CD4000 Family
  • AHCT Family
  • AHC Family
  • ACT Family
  • AC Family
  
Specialty
Cross Bar/Digital Bus Switches
ICs organized as a switch matrix. Chip may also include control logic.

Buyer Products:

  • CBTLV family
  • CBT family
  
IEEE 1149.1 (JTAG)
ICs specialized to meet the IEEE standard for boundary scan (JTAG).

Buyer Products:

  • Boundary Scan (JTAG) Bus Devices

Target Products:

  • National Semiconductor SCAN/JTAG Devices
Processing Units  
Arithmetic Logic Unit (ALU)
High-speed digital central processing units that performs calculation, logic operations, and masking.

Buyer Products:

  • Specialty Logic
  
Multiplier
An essential component of a digital signal processor whose output is an arithmetic combination of two signals.

Buyer Products:

  • Specialty Logic
  
Register
Along with Arithmetic Logic Unit and control makes up the three essential components of a microprocessor.

Buyer Products:

  • Registers
  • PCA Family
  
Hardware  
Commercial Electronics  
Office Equipment  
Business Machines  
Calculators  
Business
Calculators that handle special business applications like accounting and/or real estate.

Buyer Products:

  • Texas Instruments Calculators
  
Scientific
Advanced function calculators that process higher levels of mathematics, statistics, and science.

Buyer Products:

  • Texas Instruments Calculators
  
Standard Function
Calculators that handle basic mathematical functions and display results on a readout.

Buyer Products:

  • Texas Instruments Calculators
  
Presentation Equipment  
Projection Equipment  
LCD Panels
A display peripheral that accepts computer output and displays it on a see-through liquid crystal screen that is placed on top of an overhead projector.

Buyer Products:

  • TI ViewScreen
  
Manufacturing Equipment and Services  
Semiconductor Manufacturing Services  
Semiconductor Foundry  
Analog/Mixed Signal (Silicon)
Outsourced manufacturer of silicon-based analog and mixed signal integrated circuits.

Target Products:

  • National Semiconductor Trusted Foundry Services (DoD Accredited)
  
Software  
Industry-Specific  
Manufacturing  
Specialty Manufacturing  
Semiconductors/Electronics
Software that designs and controls production processes specific to semiconductor and other electronic component manufacturing.

Buyer Products:

  • eXpressDSP
  

- Focused. Denotes that the company is considered focused in this area. In general, Focused Companies draw the majority of their earnings in the sector/product area specified.

- Sector Pure-Plays. Denotes that the company is focused in the selected sector and generates nearly all earnings in the sector/product area specified.

- Sector Participation. Denotes that the company develops products in this line of business.

Relationship Details

Key Competitors

  Name Dir Rel. Revenue % Market Cap. P/E Ratio (TTM) Fwd P/E P/R Ratio (TTM) Fwd P/Rev Price To Tang. Book Value
Overlap
  Analog Devices, Inc. n/a 11,714.767 14.40 14.07 4.06 3.87 3.77
STMicroelectronics N.V. (ADR) n/a 10,842.320 13.06 10.43 1.05 0.99 1.87
Marvell Technology Group Ltd. n/a 9,944.380 11.00 11.97 2.75 2.69 2.93
NXP Semiconductors NV n/a 8,390.145 n/a 11.15 1.77 1.91 n/a
Linear Technology Corporation n/a 7,760.829 15.33 14.45 5.35 5.26 27.84
Maxim Integrated Products Inc. n/a 7,752.850 30.80 13.98 3.35 3.07 4.07
ON Semiconductor Corp. n/a 4,419.699 15.21 7.85 1.91 1.32 3.68
Cypress Semiconductor Corporation n/a 3,649.872 46.16 19.23 4.16 3.36 5.58
Fairchild Semiconductor International n/a 2,518.860 14.47 11.88 1.54 1.43 2.53
Microsemi Corporation n/a 1,957.726 39.33 11.42 3.32 2.29 n/a
Intersil Corporation n/a 1,807.638 68.38 15.77 2.20 2.11 5.32
Semtech Corporation n/a 1,754.877 24.18 16.97 3.86 3.40 5.41
Micrel, Incorporated n/a 796.295 15.70 13.85 2.68 2.65 3.56
Silicon Image, Inc. n/a 578.958 70.78 15.34 3.03 2.58 3.09
Monolithic Power Systems, Inc. n/a 545.981 18.47 23.32 2.49 2.77 2.21
Supertex, Inc. n/a 272.556 22.80 22.23 3.18 3.17 1.38
Exar Corporation n/a 265.306 n/a 74.25 1.76 1.75 1.13
Advanced Analogic Technologies Incorp. n/a 176.573 n/a -70.00 1.88 1.72 1.66
Pixelworks, Inc. n/a 45.398 121.66 n/a 0.65 n/a 3.26
Leadis Technology, Inc. n/a 6.656 n/a n/a 0.56 n/a 0.19
BCD Semiconductor Manufacturing Ltd(ADR) n/a n/a n/a n/a n/a n/a n/a
Buyer
  Hitachi, Ltd. (ADR) n/a 228,922.155 84.39 9.55 2.02 n/a 19.95
Siemens AG (ADR) n/a 127,156.551 22.31 12.28 1.20 1.14 9.00
Target
  Texas Instruments Incorporated n/a 41,522.951 12.86 13.89 2.97 2.85 4.50
Analog Devices, Inc. n/a 11,714.767 14.40 14.07 4.06 3.87 3.77

- Defined by the Company - Defined by Others

Dependent Suppliers

  Name Dir Rel. Revenue % Market Cap. P/E Ratio (TTM) Fwd P/E P/R Ratio (TTM) Fwd P/Rev Price To Tang. Book Value
Overlap
  Photronics, Inc. n/a 473.691 13.22 12.27 1.06 0.97 1.00
Ramtron International n/a 67.009 42.26 n/a 0.95 n/a 2.02
Pixelworks, Inc. n/a 45.398 121.66 n/a 0.65 n/a 3.26
Thomas Group, Inc. n/a 2.833 n/a n/a 0.81 n/a 0.85
Buyer
  inTEST Corporation 14.00% 40.653 5.61 4.48 0.88 0.80 n/a
Aehr Test Systems 11.00% 13.954 n/a n/a 1.03 n/a 1.54
Taiwan Semiconductor Mfg. Co. Ltd. (ADR) n/a 325,463.763 61.80 12.70 23.80 21.48 17.33
QUALCOMM, Inc. n/a 93,594.897 26.17 20.47 8.02 6.51 5.13
ARM Holdings plc (ADR) n/a 41,746.769 311.24 79.82 65.88 55.24 74.17
United Microelectronics Corp (ADR) n/a 36,625.906 52.09 n/a 9.43 n/a 5.21
Wipro Limited (ADR) n/a 35,923.910 32.10 27.58 5.53 4.55 9.55
Applied Materials, Inc. n/a 20,120.957 14.78 10.05 1.94 1.83 3.23
Sensata Technologies Holding N.V. n/a 5,819.385 44.75 13.17 3.78 3.15 n/a
National Instruments Corp n/a 3,792.524 34.76 22.13 4.34 3.66 6.10
Teradyne, Inc. n/a 3,301.618 8.69 8.80 2.05 2.09 3.30
Nidec Corporation (ADR) n/a 3,043.676 4.11 18.15 0.37 0.31 1.03
Rambus Inc. n/a 2,219.124 14.70 32.67 6.86 7.88 8.05
Target
  BMC Software, Inc. n/a 8,872.105 19.61 17.66 4.45 4.08 n/a
Standard Microsystems Corporation n/a 594.195 55.91 25.88 1.45 1.34 2.06
Photronics, Inc. n/a 473.691 13.22 12.27 1.06 0.97 1.00
Richardson Electronics, Ltd. n/a 246.602 8.05 26.39 0.94 0.96 1.51
MoSys Inc. n/a 232.288 n/a n/a 14.92 n/a 6.16
Ramtron International n/a 67.009 42.26 n/a 0.95 n/a 2.02
Pixelworks, Inc. n/a 45.398 121.66 n/a 0.65 n/a 3.26
Thomas Group, Inc. n/a 2.833 n/a n/a 0.81 n/a 0.85

- Defined by the Company - Defined by Others

Key Customers

  Name Dir Rel. Revenue % Market Cap. P/E Ratio (TTM) Fwd P/E P/R Ratio (TTM) Fwd P/Rev Price To Tang. Book Value
Overlap
  Nokia Corporation (ADR) 19.00% 32,787.476 13.07 11.16 0.57 0.56 3.60
Apple Inc. n/a 323,088.509 19.42 14.80 4.24 3.15 6.05
Siemens AG (ADR) n/a 127,156.551 22.31 12.28 1.20 1.14 9.00
Avnet, Inc. n/a 5,295.841 9.90 8.09 0.23 0.20 2.04
Arrow Electronics, Inc. n/a 5,014.974 10.46 8.08 0.27 0.24 2.62
Buyer
  Nokia Corporation (ADR) 19.00% 32,787.476 13.07 11.16 0.57 0.56 3.60
Apple Inc. n/a 323,088.509 19.42 14.80 4.24 3.15 6.05
Target
  Avnet, Inc. 17.00% 5,295.841 9.90 8.09 0.23 0.20 2.04
Arrow Electronics, Inc. 15.00% 5,014.974 10.46 8.08 0.27 0.24 2.62
Apple Inc. n/a 323,088.509 19.42 14.80 4.24 3.15 6.05
Siemens AG (ADR) n/a 127,156.551 22.31 12.28 1.20 1.14 9.00
Hewlett-Packard Company n/a 88,699.532 9.73 7.80 0.70 0.68 n/a
Telefonaktiebolaget LM Ericsson (ADR) n/a 42,258.974 25.50 13.78 1.42 1.27 2.76
Danaher Corporation n/a 35,275.017 19.67 17.39 2.67 2.46 n/a
Nokia Corporation (ADR) n/a 32,787.476 13.07 11.16 0.57 0.56 3.60
Sony Corporation (ADR) n/a 30,641.184 33.06 19.57 0.35 0.34 1.33
Panasonic Corporation (ADR) n/a 29,632.880 79.25 23.61 0.28 0.26 0.92
Research In Motion Limited (USA) n/a 28,168.468 8.26 7.88 1.41 1.15 4.25
Motorola Solutions Inc n/a 14,919.728 23.57 16.79 0.77 1.81 1.85
Sharp Corporation (ADR) n/a 10,185.119 24.60 24.57 0.30 n/a 0.89
Seagate Technology PLC n/a 8,221.364 6.87 14.58 0.74 0.77 2.96
Motorola Mobility Holdings, Inc. n/a 7,350.326 n/a 17.41 0.64 0.54 20.42
Standard Microsystems Corporation n/a 594.195 55.91 25.88 1.45 1.34 2.06
On Track Innovations Ltd.(USA) n/a 72.211 n/a n/a 1.35 1.23 2.85
LG Electronics n/a n/a n/a n/a n/a n/a n/a

- Defined by the Company - Defined by Others

Key Partners

  Name Dir Rel. Revenue % Market Cap. P/E Ratio (TTM) Fwd P/E P/R Ratio (TTM) Fwd P/Rev Price To Tang. Book Value
Overlap
  Siemens AG (ADR) n/a 127,156.551 22.31 12.28 1.20 1.14 9.00
ARM Holdings plc (ADR) n/a 41,746.769 311.24 79.82 65.88 55.24 74.17
Avnet, Inc. n/a 5,295.841 9.90 8.09 0.23 0.20 2.04
Arrow Electronics, Inc. n/a 5,014.974 10.46 8.08 0.27 0.24 2.62
Ramtron International n/a 67.009 42.26 n/a 0.95 n/a 2.02
Buyer
  Apple Inc. n/a 323,088.509 19.42 14.80 4.24 3.15 6.05
Siemens AG (ADR) n/a 127,156.551 22.31 12.28 1.20 1.14 9.00
QUALCOMM, Inc. n/a 93,594.897 26.17 20.47 8.02 6.51 5.13
ARM Holdings plc (ADR) n/a 41,746.769 311.24 79.82 65.88 55.24 74.17
Wipro Limited (ADR) n/a 35,923.910 32.10 27.58 5.53 4.55 9.55
Altera Corporation n/a 14,810.146 18.92 17.28 7.58 6.85 6.37
Sensata Technologies Holding N.V. n/a 5,819.385 44.75 13.17 3.78 3.15 n/a
Avnet, Inc. n/a 5,295.841 9.90 8.09 0.23 0.20 2.04
Arrow Electronics, Inc. n/a 5,014.974 10.46 8.08 0.27 0.24 2.62
Target
  Siemens AG (ADR) n/a 127,156.551 22.31 12.28 1.20 1.14 9.00
Hewlett-Packard Company n/a 88,699.532 9.73 7.80 0.70 0.68 n/a
ARM Holdings plc (ADR) n/a 41,746.769 311.24 79.82 65.88 55.24 74.17
Avnet, Inc. n/a 5,295.841 9.90 8.09 0.23 0.20 2.04
Arrow Electronics, Inc. n/a 5,014.974 10.46 8.08 0.27 0.24 2.62
Fairchild Semiconductor International n/a 2,518.860 14.47 11.88 1.54 1.43 2.53
Standard Microsystems Corporation n/a 594.195 55.91 25.88 1.45 1.34 2.06
Wave Systems Corp. n/a 282.435 n/a n/a 10.84 n/a 162.00
MoSys Inc. n/a 232.288 n/a n/a 14.92 n/a 6.16
On Track Innovations Ltd.(USA) n/a 72.211 n/a n/a 1.35 1.23 2.85
Ramtron International n/a 67.009 42.26 n/a 0.95 n/a 2.02

- Defined by the Company - Defined by Others

Financials

  Buyer Target Combined Entity
Income Statement
Operating Items
Revenue 13,966.0 1,544.8 15,510.8
Other Revenue 0.0 0.0 0.0
Total Revenue 13,966.0 1,544.8 15,510.8
Cost of Revenue 6,475.0 480.9 6,955.9
SG&A Expense 1,517.0 283.8 1,800.8
Depreciation & Amortization 0.0 0.0 0.0
Research & Development 1,572.0 276.6 1,848.6
Interest Expense 0.0 0.0 0.0
Other Operating Expense 0.0 0.4 0.4
Unusual Expense (Income) -112.0 31.8 -80.2
Total Expenses 9,452.0 1,073.5 10,525.5
Operating Income 4,514.0 471.3 4,985.3
Non Operating Items
Interest Expense (Inc.), Net Non-Oprtng 0.0 -50.7 -50.7
Other, Net 37.0 -4.8 32.2
Income Before Taxes 4,551.0 415.8 4,966.8
Income Taxes 1,323.0 104.9 1,427.9
Income After Taxes 3,228.0 310.9 3,538.9
Net Income - Excl. Xord. Items 3,228.0 310.9 3,538.9
Net Income - Incl. Xord. Items 3,228.0 310.9 3,538.9
Misc. Earnings Adjustment -33.0 0.0 -33.0
Income Avail. to Common 3,195.0 310.9 3,505.9
Share Items
Basic Avg. Shares Outstanding 1,170.0 241.5 1,411.5
Basic EPS - Excl. Xord. Items 2.76 1.29 2.51
Basic EPS - Incl. Xord. Items 2.76 1.29 2.51
Full Dilution Adjustment 0.0 0.0 0.0
Fully Diluted Shares Outstanding 1,189.0 247.0 1,436.0
F.D. EPS - Excl. Xord. Items 2.71 1.26 2.46
F.D. EPS - Incl. Xord. Items 2.71 1.26 2.46
Dividends Per Common Share 0.49 0.36 0.85
Balance Sheet
Assets
Cash and Equivalents 1,319.0 860.3 2,179.3
ST Investments 1,753.0 40.0 1,793.0
Accounts Receivable 1,518.0 91.4 1,609.4
Inventory 1,520.0 138.2 1,658.2
Prepayments and Advances 180.0 0.0 180.0
Other Current Assets 770.0 215.6 985.6
Current Assets 7,060.0 1,345.5 8,405.5
PPE 6,907.0 0.0 6,907.0
Accum D&A -3,227.0 0.0 -3,227.0
PPE, Net 3,680.0 420.4 4,100.4
Goodwill & Intangibles 1,205.0 68.3 1,273.3
Long Term Investments 453.0 0.0 453.0
Other Assets 0.0 0.0 0.0
Other LT Assets 1,003.0 338.0 1,341.0
Total Assets 13,401.0 2,172.2 15,573.2
Liabilities
Accounts Payable 621.0 50.5 671.5
Payable/Accrued 0.0 0.0 0.0
Accrued Expenses 1,251.0 104.3 1,355.3
ST Debt 0.0 0.0 0.0
Other (Current) Liabilities 109.0 6.6 115.6
Current Liab. 1,981.0 161.4 2,142.4
LT Debt 0.0 1,042.6 1,042.6
Total LT Debt 0.0 1,042.6 1,042.6
Deferred Taxes 86.0 0.0 86.0
Other LT Liab. 897.0 318.5 1,215.5
Total Liabilities 2,964.0 1,522.5 4,486.5
Shareholders Equity
Common Stock 1,740.0 121.4 1,861.4
Additional Paid in Capital 1,114.0 246.3 1,360.3
Retained Earnings 24,695.0 414.7 25,109.7
Treasure Stock -16,411.0 0.0 -16,411.0
Other Equity -701.0 -132.7 -833.7
Total Equity 10,437.0 649.7 11,086.7
Total Liab. & Equity 13,401.0 2,172.2 15,573.2
Shares Outstanding 1,167.4 241.1 1,408.6
Cash Flow
Operating Cash Flow
CF Net Income 3,228.0 310.9 3,538.9
CF Depreciation 865.0 82.7 947.7
CF Amortization 48.0 0.0 48.0
CF Deferred Taxes -220.0 12.6 -207.4
Other Non-Cash Items 47.0 55.5 102.5
Change in Working Capital -148.0 -79.6 -227.6
Total Cash From Operating Activities 3,820.0 382.1 4,202.1
Investing Cash Flow (not calculated)
Capital Expenditures -1,199.0 -98.4 -1,297.4
Other Investing Cash Flows 142.0 -34.8 107.2
Total Cash From Investing Activities -1,057.0 -133.2 -1,190.2
Financing Cash Flow (not calculated)
Dividends Paid -592.0 -86.3 -678.3
Purchase Or Sale of Stock -2,047.0 47.2 -1,999.8
Purchase and Retirement of Debt 0.0 -210.9 -210.9
Other Financing Cash Flow 13.0 -7.2 5.8
Total Cash From Financing Activities -2,626.0 -257.2 -2,883.2
Exchange Rate Effects 0.0 0.0 0.0
Net Change in Cash 137.0 -8.3 128.7
Cash Taxes Paid 0.0 -157.1 -157.1
Cash Interest Paid 0.0 -83.5 -83.5