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November 26, 2012
06:30 EDTFIO, ENTR, BRCM, ARMH, EZCH, CEVA, DIODSemiconductor sector upgraded to Overweight at Benchmark Co.
Benchmark Co. upgraded its rating on the Semiconductor sector to Overweight from Market Weight citing low expectations for the group and reasonable inventory levels. Benchmark Co. coupled its sector rating change with an upgrade of Broadcom (BRCM) to Buy from Hold. The firm also has Buy ratings on Diodes (DIOD), EZchip (EZCH), Entropic (ENTR), CEVA (CEVA), ARM Holdings (ARMH), and Fusion-io (FIO).
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November 18, 2015
08:18 EDTCEVARoth Capital to hold a conference
Roth Capital Tech Corporate Access Day to be held in New York on November 18.
08:14 EDTBRCMNXP Semiconductors added to Top Pick list at FBR Capital
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November 17, 2015
20:10 EDTEZCHRaging Capital comments on revised EZchip-Mellanox merger agreement
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15:49 EDTEZCHGabelli raises stake in EZchip to 6.41% from 5.41%
11:51 EDTDIODDiodes management to meet with Sterne Agee CRT
Meeting to be held in London on November 18 hosted by Sterne Agee CRT.
08:04 EDTEZCHEZchip announces amended merger agreement with Mellanox
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November 16, 2015
16:53 EDTBRCMPaulson reduced stake in Valeant
Paulson & Co. gave a quarterly update on its stakes in a filing this afternoon. NEW STAKES: Perrigo (PRGO), CIT Group (CIT), Precision Castparts (PCP), Cameron (CAM), and Altera (ALTR). INCREASED STAKES: Teva (TEVA), Post Holdings (POST), Starwood Hotels (HOT), LivaNova (LIVN), and Synergy Pharmaceuticals (SGYP). DECREASED STAKES: Valeant (VRX), Shire (SHPG), Whiting Petroleum (WLL), Computer Sciences (CSC), and Oasis Petroleum (OAS). LIQUIDATED STAKES: Houghton Mifflin Harcourt (HMHC), Broadcom (BRCM), and Sprint (S).
10:25 EDTBRCMUBS trims Apple target, says iPhone partner cut production forecast
Hon Hai, which manufactures Apple's (AAPL) iPhones, expects to assemble significantly fewer iPhones this quarter than in the same period in 2014, UBS wrote in a note to investors today. WHAT'S NEW: Hon Hai Precision Industry, also known as Foxconn, is expected to assemble 10% fewer iPhones this quarter than in the same period in 2014, said UBS analyst Steven Milunovich, citing work from fellow UBS analyst Arthur Hsieh. Previously, companies that supply force touch components for iPhones saw a 10%-15% reduction in their orders, the analyst reported. These developments "are not encouraging," but Apple had previously ordered a large number of iPhones for Q4, according to Milunovich. Overall iPhone demand "could still be decent," he believes. However, the analyst lowered his iPhone sales estimate for Apple's March quarter to 61M from 62.5M, asserting that iPhone sales on China's November 11 Singles Day holiday may have come in below expectations. Based on October search volumes, he continues to believe that demand for iPhone units in the fourth quarter of the calendar year will be 75M, in-line with the consensus outlook. Milunovich trimmed his price target on Apple to $140 from $150 but kept a Buy rating on the shares. WHAT'S NOTABLE In a note to investors on November 10, Credit Suisse reported that it was cutting its estimates for 2016 iPhone sales. The firm expects sales of the device to fall 10.4% in the first quarter versus the same period in 2015, and it predicts that iPhone sales will decline 5.5% year-over-year in 2016. Suppliers with greater than 10% exposure to Apple include Avago (AVGO), SanDisk (SNDK), Analog Devices (ADI), Broadcom (BRCM), Texas Instruments (TXN), NXP Semiconductors (NXPI) and Fairchild (FCS), Credit Suisse reported. The firm said it continues to have a negative view of the smartphone sector. PRICE ACTION: In early trading, Apple added nearly 1% to $113.34.
08:35 EDTDIODPericom urges holders to vote FOR merger with Diodes
Pericom Semiconductor (PSEM) announced that its board issued an open letter to Pericom shareholders urging them to vote the WHITE proxy card "FOR" the Agreement and Plan of Merger between Diodes Incorporated (DIOD) and Pericom, dated September 2, as amended November 5, at the company's Special Meeting of Shareholders scheduled for November 20. In addition, Pericom announced that Proxy Mosaic, a leading independent proxy advisory firm, joined Institutional Shareholder Services, or ISS, and Glass Lewis in recommending that Pericom shareholders vote in favor of the Diodes Merger Agreement.
07:50 EDTARMHUBS to hold a conference
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06:23 EDTEZCHMellanox, EZchip to change pact to include 'go-shop' provision, Reuters says
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November 12, 2015
12:23 EDTEZCHEZchip: Shareholders did not elect Raging Capital's director nominees to board
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08:56 EDTDIODMontage urges Pericom investors to vote against Diodes deal
Montage Technology Group issued a statement in response to a report issued by proxy advisory firm Glass, Lewis & Co. dated November 11, 2015. Montage notes independent proxy voting and corporate governance advisory firm Egan-Jones Proxy Services has recommended that Pericom (PSEM) shareholders vote AGAINST the proposed Diodes (DIOD) transaction at the special meeting of Pericom shareholders on November 20, 2015. "We strongly believe that Glass Lewis reached the wrong conclusion in failing to recommend that Pericom shareholders vote AGAINST the proposed Diodes transaction," the statement reads. "Montage urges Pericom shareholders to vote AGAINST the Diodes proposal on the GOLD proxy card and preserve their right to pursue a financially superior $18.50 per share binding offer from Montage. Montage reminds Pericom shareholders that its offer is not subject to any regulatory or financing conditions and will provide Pericom shareholders with immediate payment upon closing, the same timing as the Diodes proposal. We urge Pericom shareholders to act in their own best interests and stop the Pericom Board from proceeding with the inferior Diodes transaction."
08:49 EDTDIODPericom tells shareholders to vote for Diodes transaction
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08:38 EDTCEVACEVA and Phi Algorithm Solutions to hold a webinar
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08:35 EDTDIODPericom announces recommendation of merger with Diodes by Glass Lewis
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08:15 EDTARMHARM Holdings royalty growth poised to accelerate, says KeyBanc
After attending ARM's conference, KeyBanc expects the company's royalty growth to accelerate in 2H15 and 2016. Over the longer term the firm thinks the company could benefit from networking/enterprise share gains and a call option on server market penetration. KeyBanc keeps a $63 price target and Overweight rating o nthe shares.
08:02 EDTEZCHEZchip postpones vote on proposed merger with Mellanox
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07:46 EDTEZCHMellanox backs offer for EZchip at $25.50 per share
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November 11, 2015
08:02 EDTBRCMBroadcom appoints Hadi Nahari as Security Chief Technology Officer
Brocade (BRCM) announced the appointment of Hadi Nahari as vice president and Security Chief Technology Officer. Prior to joining Brocade, he was chief security architect of mobile and software platforms at NVIDIA (NVDA).
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