New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
August 5, 2014
07:49 EDTINTC, QCOM, TXN, MU, NVDA, MRVL, AMD, MCHPSemiconductor sales up 11% in first half, on track for new record, WSJ says
The Semiconductor Industry Association says global semiconductor sales totaled $82.7B in Q2, up 10.8% over the same period of last year, bringing the increase in sales in the first six months to 11.1% over last year, reported The Wall Street Journal. The report noted that World Semiconductor Trade Statistics had previously increased its projection for 2014 revenue growth to 6.5% and that Brian Toohey, SIA's president and chief executive, said the industry is "on pace to beat even the revised forecast." Publicly traded companies semiconductor makers include Intel (INTC), Marvell (MRVL), Microchip Technology (MCHP), Micron (MU), NVIDIA (NVDA), Qualcomm (QCOM), AMD (AMD) and Texas Instruments (TXN). Reference Link
News For INTC;QCOM;TXN;MU;NVDA;MRVL;AMD;MCHP From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
1 | 2 | 3 | 4 | 5 | 6 | all recent news | >>
October 10, 2014
11:13 EDTMU, MCHPMicrochip not relevant to DRAM, NAND, says Summit Research
Subscribe for More Information
10:58 EDTMUMicron falls with peers, levels to watch
The shares are down more than 7.5% to $28.30 at time of writing, just off the lows of the session at $27.59 which is now support. Resistance is at $28.78.
10:29 EDTMU, MCHP, TXN, INTCMicrochip 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.
10:20 EDTMUSemiconductors defended at Sterne Agee
Subscribe for More Information
10:16 EDTINTCIntel falls with semiconductor peers, levels to watch
Subscribe for More Information
10:09 EDTMRVLMarvell management to meet with JPMorgan
Subscribe for More Information
10:01 EDTMCHPOn The Fly: Analyst Downgrade Summary
Subscribe for More Information
09:53 EDTMCHPMicrochip tumbles following Q2 pre-announcement, levels to watch
The stock is down over 9.9% to $40.99. At that price support is at the session low at $39.41. Resistance is at $42, the session high. Drexel Hamilton and Needham both downgraded the shares to Hold, while FBR Capital said it was taking a "more defensive position" for the semiconductor universe it covers following Microchip's news.
09:38 EDTINTCActive equity options trading on open
Subscribe for More Information
07:56 EDTINTCIntel Q3 results may be near-term catalyst, says Stifel
Subscribe for More Information
07:53 EDTMCHPON Semiconductor removed from Top Picks list at FBR Capital
Subscribe for More Information
07:33 EDTMCHPMicrochip downgraded to Hold from Buy at Needham
07:05 EDTMCHPMicrochip downgraded to Hold from Buy at Drexel Hamilton
Drexel Hamilton downgraded Microchip to Hold and reduced its price target to $38 from $55 following the Q2 pre-announcment. Our previous note said the price target was reduced to $17, which was incorrect.
October 9, 2014
16:17 EDTMCHPMicrochip lowers Q2 revenue guidance to $546.2M from $560.0M-$575.9M
Subscribe for More Information
14:00 EDTAMDTiming of AMD CEO changes suggest another disappointing quarter, says Argus
After AMD announced last night that its CEO has stepped down, Argus notes that the change in the role is the fourth at the company since 2008 and that its suddenness suggests that its just ended quarter, which will be reported on in a week, will be disappointing. The firm believes executive turnover adds to the view that AMD’s business model is flawed or broken and Argus maintains its Hold rating on the stock.
10:00 EDTAMDOn The Fly: Analyst Downgrade Summary
Subscribe for More Information
09:20 EDTAMDOn The Fly: Pre-market Movers
Subscribe for More Information
08:08 EDTAMDAMD downgraded at Wedbush
Subscribe for More Information
07:11 EDTAMDAMD downgraded to Neutral from Outperform at Wedbush
Subscribe for More Information
07:03 EDTINTCIntel quarter to be in-line or modestly better, says Piper Jaffray
Piper Jaffray expects Intel's quarterly results on October 14 to be in-line to modestly above consensus. The firm's channel checks indicate PC demand trends will remain stable into year-end amid solid corporate demand. Piper reiterates an Overweight rating on Intel with a $37 price target.
1 | 2 | 3 | 4 | 5 | 6 | all recent news | >>

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use