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Stock Market & Financial Investment News

News Breaks
March 31, 2014
08:38 EDTGLW, ATMLCorning, Atmel collaborate on ultra-thin touchscreens
Corning (GLW) and Atmel (ATML) announced they are collaborating to develop ultra-thin capacitive touchscreens with superior multi-touch performance for next-generation applications. This collaboration combines Atmel XSense flexible touch sensors with 0.4mm damage-resistant Corning Gorilla Glass. Together, they deliver outstanding capacitive touch performance through thinner flat or curved cover glass. Additionally, the unique circuit design of XSense enables narrower device borders, allowing for a more optimal viewing area. The combination enables industrial designers to create phones, tablets, notebooks, and other multi-touch devices with sleeker, lighter, and more contemporary touch interfaces without sacrificing reliability or performance. Touch modules using cover glass thinner than 0.5 mm with relatively low conductive materials and non-optimal microcontrollers have been difficult to implement due to low signal-to-noise ratio, or SNR, and aliased touch events, resulting in unsatisfactory multi-touch performance. XSense, combined with 0.4mm or curved Corning Gorilla Glass, enables exceptional multi-touch sensor panels that are thin, light, and damage-resistant.
News For GLW;ATML From The Last 14 Days
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October 15, 2014
13:16 EDTGLWCorning upgraded to Buy from Hold at Standpoint Research
October 14, 2014
10:01 EDTGLWOn The Fly: Analyst Downgrade Summary
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08:13 EDTGLWCorning downgraded to Neutral from Buy at BofA/Merrill
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06:02 EDTGLWCorning downgraded to Neutral from Buy at BofA/Merrill
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October 13, 2014
08:07 EDTATMLAtmel partners with IHR in automotive electronics
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October 10, 2014
10:29 EDTATMLMicrochip CEO warning on industry correction sinks semiconductors
Shares of a number of semiconductor makers are falling sharply after one of the companies in the space, Microchip Technology (MCHP), warned that it believes the sector had entered a correction. In a note to investors today, research firm FBR Capital said Microchip's comments "could be worrisome, " and the firm responded by taking a more defensive stance on the space. WHAT'S NEW: Microchip, which develops microcontroller and analog semiconductors, estimated that its second quarter revenue would come in at $546.2M, versus its previous guidance of $560.0M-$575.9M and analysts' consensus estimate of $568M. The company said that it had experienced a number of negative trends during the quarter, including a weaker than usual September, weakness in China, and significant inventory builds at its distributor customers. Microchip President and CEO Steve Sanghi claimed his company often sees the turn of the semiconductor industry ahead of others, noting that it reports sales from distribution on a sell-through basis and built a significant amount of inventory in the distribution channel in the September quarter and that it does business with over 80,000 customers. Sanghi stated, "We believe that another industry correction has begun and that this correction will be seen more broadly across the industry in the near future. ANALYST REACTION: In a note to investors today, FBR Capital analyst Christopher Rolland said that Microchip's statements come in the wake of other negative signs for the sector. In August and September, lead times for the sector fell versus the month before, the analyst stated. Additionally, revenue trends at Taiwanese chip makers weakened in August, Rolland stated. The analyst said that Microchip's statements pushed him over the fence, causing him to take a more defensive stance on the sector. He removed ON Semiconductor (ONNN) from FBR's Top Picks list but kept an Outperform rating on the stock, as he believes that its valuation is "very reasonable." Rolland maintained Market Perform ratings on Atmel (ATML), Texas Instruments (TXN), Fairchild (FCS), AMD (AMD), and Applied Micro Circuits (AMCC). Sterne Agee also attributed weakness in the sector to Microchip's warnings, but the firm recommended buying NXP Semiconductors (NXPI), Avago (AVGO), and Skyworks (SWKS) due to their strong product cycles with EMV and upcoming iPhone-iPad launches from Apple (AAPL). In addition, the firm said it would buy Micron (MU) and SanDisk (SNDK) given tight supply, below normal inventory levels, and tailwinds from China. PRICE ACTION: In early trading, Microchip dropped nearly 14% to $39.29, Intel (INTC) fell almost 6% to $31.67, On Semiconductor slid 10% to $7.53, Atmel tumbled 11.5% to $6.61, Texas Instruments slipped 8% to $42.16, Fairchild slumped 10.6% to $12.95, AMD dropped 6% to $2.77, Applied Micro declined 10% to $6.19, and NXP Semiconductors was 14% lower to $55.27.

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