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News Breaks
May 23, 2013
11:31 EDTBRCM, RFMD, SWKS, QCOM, CRUS, NXPICirrus 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
Check below for free stories on CRUS;SWKS;BRCM;QCOM;RFMD;NXPI the last two weeks.
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April 23, 2014
08:32 EDTSWKSSkyworks price target raised to $46 from $40 at Stephens
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07:36 EDTSWKSSkyworks price target raised to $48 from $35 at Brean Capital
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April 22, 2014
19:09 EDTSWKSOn The Fly: After Hours Movers
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16:24 EDTSWKSSkyworks sees Q3 EPS 73c, consensus 63c
Sees Q3 revenue $535M, consensus $488.16M. The company said, "Looking forward, we are on track to deliver strong, sustainable top line growth with continued operating leverage. Specifically, for the third fiscal quarter of 2014, we anticipate revenue to be up 23 percent year-over-year to $535 million with non-GAAP diluted earnings per share up 35 percent year-over-year to $0.73."
16:22 EDTSWKSSkyworks declares first dividend of 11c
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16:21 EDTSWKSSkyworks reports Q2 EPS 62c, consensus 59c
Reports Q2 revenue $481M, consensus $470.25M.
April 21, 2014
13:18 EDTNXPINXP Semiconductors management to meet with SunTrust
Meeting to be held in Boston on April 25 hosted by SunTrust.
09:37 EDTQCOM, QCOMQualcomm price target raised to $90 from $82 at CLSA
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April 17, 2014
12:01 EDTQCOMTSMC climbs after profit beats expectations
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09:59 EDTSWKS, RFMDOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: AcelRx (ACRX) initiated with a Buy at Canaccord... Acorda Therapeutics (ACOR) initiated with a Hold at Canaccord... Alcobra (ADHD) initiated with a Buy at Canaccord... Benefitfocus (BNFT) initiated with a Market Perform at William Blair... Cameron (CAM) initiated with a Buy at Gabelli... Covanta (CVA) initiated with an Outperform at Macquarie... Foundation Medicine (FMI) initiated with a Market Perform at William Blair... Golub Capital (GBDC) initiated with an Outperform at Raymond James... Hanmi Financial (HAFC) initiated with an Outperform at Raymond James... Jazz Pharmaceuticals (JAZZ) initiated with a Buy at Canaccord... Kronos Worldwide (KRO) initiated with a Reduce at SunTrust... Magnum Hunter (MHR) initiated with a Hold at Maxim... Norwegian Cruise Line (NCLH) initiated with a Buy at Longbow... Plum Creek Timber (PCL) initiated with an Outperform at RBC Capital... RF Micro Devices (RFMD) initiated with a Market Perform at BMO Capital... SanDisk (SNDK) assumed with an Overweight at Piper Jaffray... Skyworks (SWKS) initiated with a Market Perform at BMO Capital... TransEnterix (TRXC) initiated with a Buy at Sterne Agee... TriQuint (TQNT) initiated with a Market Perform at BMO Capital... WebMD (WBMD) initiated with an Outperform at William Blair.
April 16, 2014
17:07 EDTSWKSSkyworks initiated with a Market Perform at BMO Capital
Target $36.
17:06 EDTRFMDRF Micro Devices initiated with a Market Perform at BMO Capital
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April 14, 2014
09:36 EDTCRUSCirrus Logic downgraded to Hold from Buy at Feltl
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06:50 EDTQCOMChecks show Apple not developing basebands, says Deutsche Bank
Deutsche Bank says that despite recent press reports, its industry checks show that Apple (AAPL) is not developing its own baseband chipset. Deutsche believes Apple likely seeking better integration with existing baseband chipsets or possibly developing its own internal WiFi chipset. The firm thinks Qualcomm's (QCOM) long term prospects remain intact and it reiterates a Buy rating on the stock with an $86 price target.
April 11, 2014
12:42 EDTNXPI, QCOM, BRCMOn The Fly: Analyst Initiation Summary
ASML (ASML) initiated with a Cautious at ISI Group... Analog Devices (ADI) initiated with a Buy at ISI Group... Applied Materials (AMAT) initiated with a Strong Buy at ISI Group... Aruba Networks (ARUN) initiated with a Buy at SunTrust... Broadcom (BRCM) initiated with a Neutral at ISI Group... CSX (CSX) initiated with an Outperform at Macquarie... Cisco (CSCO) initiated with a Buy at SunTrust... F5 Networks (FFIV) initiated with a Neutral at SunTrust... Genesee & Wyoming (GWR) initiated with a Neutral at Macquarie... Intel (INTC) initiated with a Neutral at ISI Group... Juniper (JNPR) initiated with a Buy at SunTrust... KLA-Tencor (KLAC) initiated with a Neutral at ISI Group... Lam Research (LRCX) initiated with a Strong Buy at ISI Group... Linear Technology (LLTC) initiated with a Cautious at ISI Group... Maxim Integrated (MXIM) initiated with a Neutral at ISI Group... Micron (MU) initiated with a Strong Buy at ISI Group... NVIDIA (NVDA) initiated with a Neutral at ISI Group... NXP Semiconductors (NXPI) initiated with a Strong Buy at ISI Group... Qualcomm (QCOM) initiated with a Strong Buy at ISI Group... Riverbed (RVBD) initiated with a Neutral at SunTrust... SanDisk (SNDK) initiated with a Neutral at ISI Group... Teradyne (TER) initiated with a Buy at ISI Group... Texas Instruments (TXN) initiated with a Neutral at ISI Group... Trulia (TRLA) initiated with a Neutral at Susquehanna... Union Pacific (UNP) initiated with a Neutral at Macquarie... Zillow (Z) initiated with a Positive at Susquehanna... Flamel Technologies (FLML) initiated with a Buy at Roth Capital... Parker Drilling (PKD) initiated with an Accumulate at Tudor Pickering.
10:19 EDTQCOMQualcomm, Ericsson recommended by RBC Capital
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09:09 EDTQCOMQualcomm Ericsson recommended for near-term at RBC Capital
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April 10, 2014
16:21 EDTBRCMBroadcom initiated with a Neutral at ISI Group
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16:11 EDTQCOMQualcomm initiated with a Strong Buy at ISI Group
Target $90.
16:09 EDTNXPINXP Semiconductors initiated with a Strong Buy at ISI Group
Target $85.
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