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Stock Market & Financial Investment News

News Breaks
May 19, 2014
13:43 EDTMU, NVDA, TXN, BRCMAnalyst sees value in semiconductors, upgrades several in space
Shares of several semiconductor companies are rising after their shares were upgraded to Outperform from Sector Perform by RBC Capital in a note to investors earlier today. WHAT'S NEW: The stock multiples of semiconductor makers should be higher, RBC Capital argued in a note about the sector. In conjunction with that note, the firm upgraded its ratings on several names in the space, including, Micron (MU), NVIDIA (NVDA), Texas Instruments (TXN), and Broadcom (BRCM). Micron, which develops computer memory products, should benefit from higher gross margins generally and strong prices for DRAM in particular given tight supplies, RBC analyst Doug Freedman wrote. Additionally, Micron could return cash to shareholders, he stated. Freedman raised his price target on the shares to $34 from $27. NVIDIA is likely to benefit as it sells chips for use in higher value markets, such as gaming systems and automobiles, the analyst contended. Moreover, NVIDA's past investments should allow it to control its spending more tightly going forward, resulting in strong cash flows, according to Freedman. The company's current strategies are more likely to enable its free cash flow to grow than its previous strategies, the analyst indicated, hiking his price target on the stock to $26 from $21. Like NVIDIA, Texas Instruments is likely to benefit as it sells chips into more lucrative markets, according to Freedman. In Texas Instruments' case, these markets include communications and industrial sectors, as well as the automotive space, he wrote. Freedman increased his price target on TI's shares to $57 from $49. Finally, Broadcom should benefit from strength in both its core broadband business and its Infrastructure & Networking Group, the analyst believes. Given the outlook for those businesses, the stock is undervalued, he contended. Also likely to boost the company is stronger demand for its mobile and wireless products due to the proliferation of advanced connectivity systems such as LTE, the analyst believes. The analyst raised his price target on Broadcom to $40 from $33.
News For MU;NVDA;TXN;BRCM From The Last 14 Days
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September 25, 2014
12:29 EDTMUEarnings Preview: Several analysts positive on Micron ahead of Q4 report
Micron (MU) is expected to report fourth quarter earnings after the close on Thursday, September 25, with a conference call scheduled for 4:30 pm ET. Micron manufactures semiconductor devices, principally DRAM, NAND Flash and NOR Flash memory. EXPECTATIONS: Analysts are looking for earnings per share of 81c on revenue of $4.15B. The consensus range is 66c-$1.03 for EPS on revenue of $4.05B-$4.3B, according to First Call. LAST QUARTER: On June 23, Micron reported third quarter EPS of 79c, compared to the 70c consensus estimate of analysts. Micron's quarterly revenue of $3.98B beat expectations for $3.89B. Revenues for both DRAM and NAND Flash products were down slightly for the quarter compared to the prior quarter. The company’s overall consolidated gross margin of 34% for the third quarter was consistent with the second quarter, as mix-related decreases in average selling prices were essentially offset by corresponding decreases in manufacturing costs. STREET RESEARCH: On the day after its last report, Needham upgraded Micron to Strong Buy from Buy and raised its price target for the shares to $50 from $40. The firm said then that it expected NAND gross margins to improve in 2015 and recommended investors look past the company's Q4 margin guidance. On July 31, Goldman and Sterne Agee issued competing views on how comments from Samsung could impact Micron. On that day, Sterne Agee reported that Samsung said its DRAM bit growth in the second half of 2014 would be limited, while its 2015 bit growth will drop compared to this year. The firm saw the guidance as "a major positive" for Micron and SanDisk (SNDK) and kept Buy ratings on both. However, Goldman said Samsung's increased DRAM bit supply growth forecast was an incremental negative for Micron. Goldman continues to have a Neutral rating on shares of Micron. More recently, Sterne Agee said Micron's stock has lagged due to concerns about potentially weaker Q4 DRAM prices and worries about NAND seasonality. The firm thinks these concerns are misplaced and continues to view Micron as a beneficiary of industry consolidation over the long-term. The firm keeps a $40 price target and Buy rating on Micron. Wedbush said it expects Micron's Q4 results to beat consensus expectations and for the company to provide upbeat commentary. The firm thinks that investor sentiment towards the stock has stalled on concerns about unfavorable DRAM supply/demand dynamics in 2015. However, Wedbush remains bullish on memory market dynamics heading into 2015 and keeps a $37 price target and Outperform rating on the shares. UBS believes DRAM and NAND average selling price trends continue to be favorable for Micron in the near to medium term and that the company should report Q4 EPS and revenue that are in line with consensus or better. The firm maintains its Buy rating on Micron and raised its price target on the stock to $36 from $35 ahead of tonight's Q4 report. PRICE ACTION: Since the day after last quarter's report, shares of Micron have advanced about 1%. Ahead of tonight's report, Micron was down over 2% to $31.54 in afternoon trading.
09:06 EDTMUMicron volatility increases into Q4 an outlook
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07:46 EDTMUMicron Q4 results should be in line or better, says UBS
UBS believes DRAM and NAND average selling price trends continue to be favorable for Micron in the near to medium term and that the company should report Q4 EPS and revenue that are in line with consensus or better. The firm maintains its Buy rating on Micron and raised its price target on the stock to $36 from $35 ahead of tonight's Q4 report.
September 24, 2014
15:26 EDTMUMicron September weekly 32 straddle priced for 6.6% move into Q4
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11:16 EDTMUMicron volatility increases into Q4 an outlook
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09:23 EDTMUMicron shares should be bought into earnings, says Sterne Agee
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06:25 EDTNVDAAMD, NVIDIA sees shrinking GPU demand in Q4, DigiTimes reports
AMD (AMD) and NVIDIA (NVDA) expect to see demand for their discrete mobile GPUs to decrease, reports DigiTimes. Citing Taiwan-based supply chain makers, the decrease is due to notebook vendors that plan to launch low-cost models with CPUs with integrated graphics in Q4. Reference Link
06:23 EDTMUMicron in talks with PTI for IC packaging/testing firm, DigiTimes reports
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September 23, 2014
11:33 EDTBRCMAnalysis shows Apple spends $200-$247 to build iPhone 6s, Re/code says
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09:10 EDTMUMicron should deliver beat and raise results, says Wedbush
Wedbush expects Micron to report beat and raise Q4 results and provide upbeat commentary. The firm thinks that investor sentiment towards the name has stalled on concerns about unfavorable DRAM supply/demand dynamics in 2015. However, Wedbush remains bullish on the memory market supply/demand dynamics heading into 2015. It keeps a $37 price target and Outperform rating on the shares.
September 22, 2014
10:40 EDTTXNTexas Instruments management to meet with Pacific Crest
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09:03 EDTMUMicron margin poised to expand, says Stifel
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07:14 EDTNVDAGSM Association to hold a conference
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September 19, 2014
14:09 EDTMUMicron volatility elevated into Q4 an outlook
Micron September weekly call option implied volatility is at 67, October weekly is at 54, October is at 41. November is at 39, January is at 38; compared to its 26-week average of 38 according to Track Data, suggesting large near term price movement into the expected release of Q4 results on September 25.
11:23 EDTMUStocks with call strike movement; YHOO MU
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08:11 EDTBRCM, TXNTriQuint chip among those in iPhone 6 Plus, iFixit reports
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08:03 EDTTXN, BRCMInvenSense, NXP, RF Micro chips included in iPhone 6, iFixit reports
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September 18, 2014
16:33 EDTTXNTexas Instruments increases quarterly dividend 13% to 34c from 30c
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15:22 EDTBRCMBroadcom appears to be WiFi chip provider for Apple Watch, Chipworks says
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06:45 EDTMUMobile DRAM bit growth to reach 37.5% in 2H14, DigiTimes Research reports
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