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Stock Market & Financial Investment News

News Breaks
May 23, 2013
11:31 EDTNXPI, BRCM, RFMD, SWKS, QCOM, CRUSCirrus Logic tumbles after reducing long-term margin outlook
Cirrus Logic (CRUS), which develops audio components for mobile devices, is sinking after the company indicated that its profit margins would drop over the longer term. WHAT'S NEW: Cirrus disclosed in slides for today's Barclays Global Technology Conference that it expects its gross margins to be in the mid 40s percentage level over the long-term. The company had previously expected its gross margins to be 50%-52% over the long-term, according to research firm Oppenheimer. Cirrus' gross margin in its quarter ended in March was 49%. Cirrus explained that it expects to see increased pricing pressure in the smartphone market, as well as reduced prices for its products. Over the long-term the company expects its revenue to increase 15% annually on average. ANALYST REACTION: In a note to investors, Oppenheimer analyst Rick Schafer wrote that Cirrus' position is "increasingly precarious." Apple, which represents about 85% of Cirrus' sales, is placing various pressures on Cirrus, the analyst wrote. Moreover, the components maker does not have any growth catalysts and is unlikely to outperform, he added. Schafer expects Cirrus to report weaker than expected results going forward, and he kept a Perform rating on the stock. OTHERS TO WATCH: Other companies that make components for smartphones could also be affected by the trends identified by Cirrus. Among the other companies in this category are Skyworks (SWKS), Broadcom (BRCM), Qualcomm (QCOM), RF Micro Devices (RFMD), and NXP Semiconductors (NXPI). TODAY'S PRICE ACTION: In late morning trading, Cirrus tumbled 15.5% to $18.65, Skyworks gave back 1.4% to $22.90, Broadcom lost 0.3% to $33.60, Qualcomm retreated 2% to $64, and NXP Semiconductors gave back 1.75% to $28.75.
News For CRUS;SWKS;BRCM;QCOM;RFMD;NXPI From The Last 14 Days
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August 26, 2015
07:23 EDTQCOMAmbarella weakness overdone, says Stifel
Noting that Ambarella's (AMBA) stock has dropped 20% since Qualcomm (QCOM) indicated that it would look to supply chips for drones, Stifel says that the decline is overdone. The firm thinks that it's more likely that Qualcomm's chip will be used to help control drones, rather than replace Ambarella's video processor. The firm continues to recommend Ambarella's stock.
06:22 EDTQCOMiPhone 6S to include Qualcomm radio frequency transceiver chip, MacRumors says
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05:21 EDTQCOMQualcomm agrees to sell UK L-Band spectrum to Vodafone, H3G
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August 24, 2015
18:02 EDTSWKSS&P 500 enters correction territory amid global growth concerns
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10:17 EDTQCOMQualcomm upgraded to Buy from Hold at Standpoint Research
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09:45 EDTQCOMOn The Fly: Analyst Initiation Summary
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08:54 EDTQCOMQualcomm coverage resumed with a Buy at Goldman
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06:22 EDTQCOM, BRCMTSMC pursuing 16nm chip orders, DigiTimes reports
According to market sources, DigiTimes reports that TSMC (TSM) has been "actively" seeking 16nm FinFET chip orders. In addition to securing a portion of Apple's (AAPL) A9 chip orders, TSMC has also received orders from AMD (AMD), Broadcom (BRCM), LG, Nvidia (NVDA) and Avago (AVGO), the sources say, noting that TSMC failed to maintain orders for Qualcomm's (QCOM) flagship mobile chips, as it has placed orders for the Snapdragon 820 series with Samsung (SSNLF). Reference Link
August 21, 2015
16:21 EDTQCOMOn The Fly: Top stock stories for Friday
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13:41 EDTQCOMAmbarella sinks after supremacy in drone technology challenged by Qualcomm
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12:53 EDTQCOMAmbarella competition in drones not a surprise, says Canaccord
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11:12 EDTQCOMQualcomm reportedly to enter consumer drone market
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10:50 EDTQCOMCitron says next stop $70 for shares of Ambarella
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09:19 EDTQCOMQualcomm to enter consumer drone market, Re/code reports
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August 20, 2015
10:00 EDTBRCMOn The Fly: Analyst Downgrade Summary
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08:39 EDTBRCMBroadcom downgraded to Hold from Buy at Argus
Argus downgraded Broadcom (BRCM) to Hold following the announcement that the waiting perorid under the Hart-Scott-Rodino Antitrust Act had expired. The firm now expects the acquisition by Avago (AVGO) to go through.
07:50 EDTNXPINXP Semiconductors management to meet with SunTrust
Meetings to be held in Dallas/Houston on August 26, in Houston/Denver on August 27 and in Los Angeles on August 28 hosted by SunTrust.
05:55 EDTCRUSCirrus Logic pullback a buying opportunity, says Piper Jaffray
Piper Jaffray analyst Ruben Roy recommends using the recent pullback in shares of Cirrus Logic as a buying opportunity. The stock is down 23% from the post earnings highs in late July, Roy tells investors in a research note. After hosting investor meetings with Cirrus Logic CEO Jason Rhode, Roy believes increasing dollar content in upcoming handsets and revenue diversification will remain key themes for the company over the next 18 months. He views Cirrus as the "strongest beneficiary" from expanding voice activation applications in portable and mobile devices. Roy reiterates an Overweight rating on the stock with a $44 price target.
August 19, 2015
06:18 EDTQCOMQualcomm exec among casualties in midair plane crash, AP reports
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05:50 EDTSWKSStocks with implied volatility movement; SWKS CNX
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