Csr Share Price (CSR)

but still like rel low multiples all opinion only GL all

Great run from this share. Huge P/e ratio so its outperforming somewhat. think the market is excited with the share buy back. The exercise last time went well and certainly rewarded those of us who didnt tender shares and stayed in

CSR: UBS raises target price from 330p to 450p, while retaining a neutral rating. Deutsche Bank revises target price from 255p to 300p, while staying with its sell recommendation.

The question now is what CSR does with its strong cash-flow. The last big deal, the $233m purchase of Zoran, was in mid-2011, and though there is probably the odd technology concern the company would not mind picking up, there is no sign of another such on the horizon. Since it started buying back shares in 2010, the company has returned $416.4m before the latest exercise. Yet it had $333m in the bank at the year end. CSR says it will review the situation once the latest buyback is completed. The reckoning must be that more will be returned. The shares have had a good run; on about 15 times earnings they look like good long-term value, but no reason to chase for now. Buy on the (inevitable) weakness, says The Times's Tempus.

CSR yesterday released higher than expected numbers, and the decision to return $50m to investors by means of a share buyback sent the shares racing ahead by 47¼p to 432¾p. The chip maker also put out a forecast for first-quarter revenues of $215m to $235m, again ahead of expectations. All of the above is in large part the result of the recent restructuring of the firm the effects of which are not yet all in the figures. Analysts expect to see another large rise in operating profits this year to just under $100m.

Chief Executive Officer Joep van Beurden said: "2012 has seen CSR accelerate its transformation, becoming a leader in integrated and differentiated technology platforms in several growing market segments. The growth of our Core business has been especially pleasing with strong growth in Voice & Music and a solid performance by Auto." "In 2013, we will continue to invest to develop our platforms in our five chosen markets of Auto, Voice & Music, Imaging, Bluetooth Smart and Indoors Location, which we believe hold good growth potential," he added. CSR also highlighted strong mono audio revenue growth in China in the wake of hands-free driving legislation.