IXYS Corporation's (NASDAQ:IXYS) Diversified Product Portfolio Generating Demand

IXYS Corporation (NASDAQ:IXYS) has had demand from their diversified product portfolio, and that should continue to expand, especially in the industrial segment.

Needham said, "We are now valuing IXYS shares on a cash adjusted 2012 P/E of 12x compared to a 2011 cash adjusted P/E of 12x. On our CY 2012 EPS estimate of $1.18 and net cash per share of $1.05 this resulted in raising our price target from $13 to $15. IXYS' diversified product portfolio is in demand and continues to grow in industrial areas ranging from factory automation and traction control to inverter applications in solar and wind energy. With improved utilization and a normalized backlog, we believe there is room for upside to our financial model."

Needham & Company reiterates a "Buy" rating on IXYS Corporation, which closed Wednesday at $12.09, down $0.02, or 0.17 percent. Needham raised their price target on IXYS from $13 to $15.