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January 15, 2013
06:45 EDTAVGO, LLTC, MXIMLinear Technology valuation looks stretched, says Citigroup
Citigroup says Linear Technology's (LLTC) valuation appears stretched at current levels and keeps a Sell rating on the stock with a $32 price target. Citi prefers higher growth peers Avago (AVGO) and Maxim Integrated (MXIM) to Linear.
News For LLTC;AVGO;MXIM From The Last 14 Days
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April 24, 2015
09:12 EDTMXIMMaxim Integrated shares should be bought on weakness, says Pacific Crest
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April 23, 2015
19:16 EDTMXIMOn The Fly: After Hours Movers
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16:45 EDTMXIMMaxim Integrated falls after earnings
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16:26 EDTMXIMMaxim Integrated sees Q4 adjusted EPS 35c-41c, consensus 44c
Sees Q4 revenue $570M-$610M, consensus 617.70M. Sees adjusted gross margin 58%-61%. The company's 90-day backlog at the beginning of Q4 was $387M.
16:23 EDTMXIMMaxim Integrated reports Q3 adjusted EPS 40c, consensus 35c
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15:00 EDTMXIMNotable companies reporting after market close
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April 22, 2015
18:27 EDTMXIMSemiconductor stocks under pressure after TI, Qualcomm report financial results
Semiconductor stocks are under pressure after earnings reports from Texas Instruments (TXN) and Qualcomm (QCOM). TEXAS INSTRUMENTS: TI reported first quarter results that were lower than analyst expectations, and gave second quarter guidance below consensus estimates. In its Q1 earnings press release, Texas Instruments said its outlook for Q2 is for earnings per share between 60c-70c and revenue in the range of $3.12B-$3.38B. "Our estimates assume continuing weakness in our communications equipment and personal electronics markets, particularly for wireless infrastructure equipment and PCs, respectively. We also do not expect a near-term rebound in foreign currency exchange rates. The annual effective tax rate for 2015 is expected to be about 30%." QUALCOMM: Qualcomm reported Q2 results that were better than analyst's average estimates, but lowered its fiscal year 2015 EPS and revenue views. Qualcomm CEO Steve Mollenkopf said, "While we remain confident in the significant growth opportunities ahead, we are reducing our QCT outlook for fiscal 2015, primarily due to the increased impact of customer share shifts within the premium tier and a decline in our share at a large customer." PRICE ACTION: In after-hours trading, shares of Texas Instruments are down over 6%, while Qualcomm shares are down almost 3%. Other publicly traded companies in the space include AMD (AMD), Intel (INTC), Marvell (MRVL), Microchip (MCHP), Micron (MU), NVIDIA (NVDA), Altera (ALTR), Xilinx (XLNX), and Maxim Integrated (MXIM).
14:47 EDTMXIM, AVGOEarnings Watch: Texas Instruments reports amid M&A focus in semiconductor space
Texas Instruments (TXN) is expected to report first quarter earnings after the close on Wednesday, April 22, with a conference call scheduled for 5:30 pm ET. Texas Instruments is a global semiconductor manufacturer operating in four segments: Analog, Embedded Processing, Wireless and Other. EXPECTATIONS: Analysts are looking for earnings per share of 62c on revenue of $3.2B. The consensus range is 61c-64c for EPS on revenue of $3.18B-$3.21B, according to First Call. On its last earning call, Texas Instruments said it expected Q1 EPS of 57c-67c and revenue of $3.07B-$3.33B. LAST QUARTER: On January 26, Texas Instruments reported adjusted fourth quarter EPS of 69c, which matched consensus expectations at that time. Its Q4 revenue of $3.27B came in just above the consensus forecast of $3.26B. Texas Instruments said its inventory ended the quarter at 117 days and noted on its associated conference call that it believe inventories were at "healthy levels." Texas Instruments also said then that it expected its embedded operating margins to increase. STREET RESEARCH: The day after TI's last quarterly report, Ascendiant raised its price target for Texas Instruments shares to $64 from $56 and reiterated a Buy rating on the stock. The firm attributed the post-earnings slide the stock experienced then to profit taking, rather than a fundamental disappointment. That same week, Argus increased its price target on Texas Instruments to $62 from $54 and said it expected the company's operating trends to continue to strengthen. Argus kept a Buy rating on the shares. Acquiring companies in the semiconductor space "can materially outperform the market," Jefferies analyst Mark Lipacis wrote in a note to investors on March 9. At that time, Lipacis identified Texas Instruments, NXP Semiconductors (NXPI), Avago (AVGO), Marvell (MRVL), Maxim Integrated (MXIM), Broadcom (BRCM), Altera (ALTR), and Xilinx (XLNX) as companies that were well-positioned to make acquisitions in the future. WHAT'S NOTABLE: On March 1, NXP Semiconductors and Freescale Semiconductor (FSL) announced that they have entered into a definitive agreement under which NXP will merge with Freescale in a transaction valuing the combined enterprise at just over $40B. Recent media reports suggested that Intel's (INTC) talks to acquire Altera stalled when the latter wanted more than Intel was willing to pay. PRICE ACTION: Since the day after last quarter's report, Texas Instruments' stock has rallied nearly 7%. In afternoon trading, Texas Instruments gained over 1% to $58.76.
April 16, 2015
10:15 EDTLLTCOptions with decreasing implied volatility
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April 15, 2015
11:57 EDTLLTCLinear Technology says has positive book-to-bill going into Q4
11:42 EDTLLTCLinear Technology says industrial was largest percentage of bookings in quarter
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10:19 EDTLLTCOptions with decreasing implied volatility
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09:55 EDTMXIM, LLTCBofA/Merrill U.S. autos analysts hold an analyst/industry conference call
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07:41 EDTMXIMEBD Group to hold a forum
ChinaBio Partnering Forum 2015 is being held in Shanghai, China on April 15-16.
April 14, 2015
17:03 EDTLLTCLinear Technology sees Q4 revenue growth 2%-5%
"Looking forward we expect growth to continue in the June quarter although moderately tempered by worldwide macroeconomic conditions. Accordingly, we are currently estimating sequential revenue growth of 2%-5% for Q4, said the company. Revenue consensus is $388.06M
17:01 EDTLLTCLinear Technology reports Q3 EPS 55c, consensus 53c
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15:34 EDTLLTCNotable companies reporting after market close
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April 13, 2015
15:31 EDTLLTCLinear Technology April volatility increases into Q3 and outlook
Linear Technology April call option implied volatility is at 56, May is at 26, November is at 27; compared to its 26-week average of 24 according to Track Data suggesting large near term price movement into the expected release of Q3 results on April 14.
14:25 EDTLLTCLinear Technology technical notes ahead of earnings
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