Shares of the American semiconductors manufacturer may upturn in the ensuing sessions.

In 2013, the company increased its presence in Singapore and the United Kingdom. Financial statements attest of a healthy situation as sales are expected to increase this year by almost 8%. Lower debts are also previewed for the ongoing period, thus the financial leverage should fall to 0.07x from 0.67x in 2013. The group seems undervalued with a P/E ratio of only 13.2 times the estimated earnings and it could fall even more in 2015, according to these guidances.

Following the bearish wave started back on March, the stock approached the USD 8.4 short term support. This level joined to the midterm support should allow prices to turn upwards in order to reach the USD 9.1/10 trading range. A renewed buyer’s pressure could be set thus drawing a significant recovery.

Consequently, we expect prices to advance toward USD 9.7. Most active investors could then buy the equity close to the support line. A stop-loss order will be placed at USD 7.9.