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July 30, 2015
10:09 EDTINVNRosenblatt believes InvenSense on 100% share in upcoming iPhone 6s
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09:25 EDTCAVMOn The Fly: Pre-market Movers
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08:26 EDTCAVMCavium price target lowered to $76 from $89 at Canaccord
Canaccord lowered its price target on Cavium to $76 from $89 following Q2 results, citing weakness in the wireless sector including a slowdown in infrastructure capital spending. Canaccord maintained its Buy rating on Cavium as its long-term thesis remains intact.
08:08 EDTCAVMCavium weakness creates buying opportunity, says Oppenheimer
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July 29, 2015
16:20 EDTCAVMCavium reports Q2 adjusted EPS 41c, consensus 41c
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12:51 EDTAMBAAmbarella calls active after mentioned cautious by Citron Research
Ambarella July weekly 118 and 129 calls are active on total call volume of 11K contracts (8K) puts after mentioned cautious by Citron Research. July weekly call option implied volatility is at 75, August is at 64, September is at 67; compared to its 52-week range of 43 to 72. Active options volume suggests traders taking positions for price movement.
11:13 EDTAMBAAmbarella will trade back to $90, Citron Research says
Short selling blog Citron Research issued a new report on Ambarella (AMBA), saying the stock will trade back to $90 "on its way to much lower." The semiconductor company designed into GoPro (GPRO) cameras is trading down $2.82 to $116.44 in morning trading. Reference Link
11:10 EDTAMBAAmbarella mentioned cautious by Citron Research
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07:00 EDTSIMOSilicon Motion growth story remains intact, says Brean Capital
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July 27, 2015
18:05 EDTSIMOSilicon Motion sees FY15 revenue up 22%-27%, consensus $355.69M
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18:04 EDTSIMOSilicon Motion sees Q4 revenue increasing sequentially
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18:04 EDTSIMOSilicon Motion sees Q3 revenue up 5%-10%, consensus $95.58M
Sees Q3 adjusted gross margin 50%-52%. Sees operating expenses roughly $25M-$27M.
18:02 EDTSIMOSilicon Motion reports Q2 adjusted EPS 51c, consensus 50c
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09:36 EDTAMBAActive equity options trading on open
Active equity options trading on open: AAPL NFLX INTC MU VZ BIDU AMBA
July 22, 2015
14:51 EDTCAVMEarnings Watch: Qualcomm reports after speculations of potential breakup
Qualcomm (QCOM) is expected to report third quarter earnings after the close on July 22, with a conference call scheduled for 4:45 pm ET. Qualcomm is a maker of semiconductors and telecommunications equipment. EXPECTATIONS: Analysts are looking for earnings per share of 95c on revenue of $5.85B. EPS consensus ranges 90c-$1.05 on a revenue range of $5.59B-$6.08B, according to First Call. LAST QUARTER: On April 22, Qualcomm reported Q2 EPS of $1.40 against expectations for $1.33, and revenue of $6.89B versus estimates of $6.83B. The company also cut its FY15 EPS guidance to $4.60-$5.00 from $4.85-$5.05 and lowered projected revenue to $25B-$27B from $26.3B-$28B, saying it expects pressure in its semiconductor business due to customer shifts in the premium segment and a decline in Qualcomm's share at an unnamed large customer. NEWS: On May 8, Reuters reported that EU antitrust regulators asked Qualcomm's competitors how the company's licensing and business practices affect them, and on July 16, the European Commission confirmed two formal antitrust investigations of the company. On May 25, Qualcomm and Daimler (DDAIF) announced a strategic collaboration to develop connected car technology. Coming on the heels of Avago's (AVGO) May 28 agreement to acquire Broadcom (BRCM), Bloomberg quoted a source later that day as saying Qualcomm, Intel (INTC), Altera (ALTR), Analog Devices (ADI), Maxim Integrated (MXIM), Texas Instruments (TXN), and Microchip Technology (MCHP) are all considering their own M&A opportunities. Note that on June 1, Intel announced an agreement to acquire Altera. On June 23, Semiconductor Manufacturing International (SMI), Qualcomm, Huawei, and Imec announced the formation of a joint venture to focus on a type of 14 nanometer technology. More recently, the Wall Street Journal reported on July 20 that Qualcomm is "expected" to begin a comprehensive strategic review which may include the possibility of a breakup following pressure from "activist" shareholder Jana Partners, according to sources, adding that the move could be announced concurrent with Wednesday's earnings release. STREET RESEARCH: Following last quarter's earnings report, Exane BNP Paribas downgraded Qualcomm to Neutral from Outperform, while both Canaccord and Brean Capital lowered price targets for the stock after "disappointing" guidance. Meanwhile, Citi said it expects the company's chip business to recover in 2016 despite this "very bad year." On May 28, CLSA said it sees continued pressure on Qualcomm chipsets, potentially spurring the company to consider making an acquisition, and on June 2, Craig-Hallum noted that Skyworks (SWKS) would be a great fit for Qualcomm. On June 24, Summit Research called Applied Micro Circuits (AMCC) an "affordable" target for Qualcomm, with AMD (AMD) and Cavium (CAVM) also looking like potential takeover candidates. On June 29, Drexel Hamilton downgraded Qualcomm to Sell from Hold, citing expected price cuts. Lastly, following media reports on July 20 that Qualcomm could be weighing a breakup, Bernstein said that such a "dis-synergistic" split would likely destroy value rather than create it. PRICE ACTION: Shares of Qualcomm are down more than 1% to $64.37 in afternoon trading ahead of Wednesday's earnings report.
July 20, 2015
06:00 EDTMRVLStocks with implied volatility movement; BTU MRVL
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July 17, 2015
14:29 EDTMRVLAvago eyeing acquisition of Marvell, Light Reading says
Avago (AVGO) is looking at acquiring semiconductor vendor Marvell (MRVL), according to Light Reading, citing a reputable source. Reference Link
10:13 EDTAMBAAmbarella to get boost from drone demand, analyst says
Ambarella (AMBA) should benefit from stronger than expected demand for drones, which are "literally flying off the shelves" at Best Buy (BBY), research firm Pacific Crest wrote in a note to investors today. Ambarella develops processors used in high definition cameras, such as those often utilized by drones. WHAT'S NEW: After conducting checks, Pacific Crest analyst Brad Erickson wrote that sales of drones have been stronger than expected. Ambarella should benefit from that trend, as well as from the fact that demand for GoPro (GPRO) cameras, which utilize Ambarella's chips, has been steady, Erickson stated. Although initial demand for GoPro's new Session camera "appears lukewarm," its newer cameras should drive a significant increase in sales volume starting in GoPro's October quarter, according to Erickson, who said the popularity of GoPro's cameras should enable Ambarella's results to beat Street expectations. The analyst continues to recommend buying Ambarella's stock and kept a $123 price target on the shares. WHAT'S NOTABLE: In a note to investors yesterday, Piper Jaffray analyst Erinn Murphy wrote that GoPro's risk/reward ratio was favorable heading into the company's Q2 results. According to Murphy, the stock fell recently because money rotated out of the shares following the initial public offering of Fitbit (FIT) and Goldman Sachs' initiation of coverage of the stock with a Neutral rating. However, Amazon (AMZN) data shows that GoPro's cameras are selling well and Ambarella's Q2 results beat expectations, Murphy noted. As a result, she expects GoPro's Q2 results to exceed expectations when they are reported next week. Murphy reiterated a $68 price target and Overweight rating on GoPro shares. PRICE ACTION: In early trading, Ambarella rose 1.3% to $109.59, while GoPro added 0.5% to $55.53.
07:09 EDTAMBAAmbarella benefiting from strong drone demand, says Pacific Crest
After conducting checks, Pacific Crest says that Ambarella is benefiting from strong demand for drones and steady demand for GoPro's (GPRO) cameras. The firm thinks the stock could reach $123 if demand for action cameras in China accelerates. It keeps a $123 price target and Overweight rating on the shares.
06:02 EDTAMBAStocks with implied volatility below IV index mean; ASHR AMBA
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