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Stock Market & Financial Investment News

News Breaks
March 21, 2013
06:33 EDTTSEM, AVGOTower Semiconductor and Avago expand strategic collaboration
Tower Semiconductor (TSEM) and Avago (AVGO) are expanding their strategic collaboration focusing on Avago’s next generation products using TowerJazz’s SiGe BiCMOS technology platform. The technology collaboration between TowerJazz and Avago FOPD has resulted in Avago’s recent launch of the Gen4SR product, a 10Gbps small form factor pluggable optical transceiver for short reach applications.
News For TSEM;AVGO From The Last 14 Days
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November 25, 2015
07:57 EDTAVGOAvago downside from results limited, says Sterne Agee CRT
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November 20, 2015
14:58 EDTAVGODA Davidson technology analyst holds an analyst/industry conference call
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November 18, 2015
09:23 EDTTSEMTowerJazz to acquire Maxim Integrated facility in San Antonio
TowerJazz (TSEM) has signed an agreement with Maxim Integrated (MXIM) to purchase Maxim's 8-inch fabrication facility in San Antonio, Texas. The proposed purchase will expand TowerJazz's current worldwide manufacturing capacity, cost-effectively increasing production by approximately 28K wafers per month. TowerJazz and Maxim expect to close the transaction in January 2016. As part of the transaction, the companies have also signed a long-term supply agreement for TowerJazz to manufacture products for Maxim in the San Antonio facility. The transaction is to be paid with TSEM ordinary shares with a total value of approximately $40M. All of the site's nearly 500 employees will be retained.
November 17, 2015
11:37 EDTTSEMTowerJazz to host analyst and investor day
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11:22 EDTTSEMTowerJazz management to meet with Drexel Hamilton
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11:21 EDTTSEMTowerJazz to host 2015 Supplier Day Meeting
Supplier Day Meeting to be held in Newport Beach, CA on November 17 at 4:30 pm.
November 16, 2015
10:25 EDTAVGOUBS trims Apple target, says iPhone partner cut production forecast
Hon Hai, which manufactures Apple's (AAPL) iPhones, expects to assemble significantly fewer iPhones this quarter than in the same period in 2014, UBS wrote in a note to investors today. WHAT'S NEW: Hon Hai Precision Industry, also known as Foxconn, is expected to assemble 10% fewer iPhones this quarter than in the same period in 2014, said UBS analyst Steven Milunovich, citing work from fellow UBS analyst Arthur Hsieh. Previously, companies that supply force touch components for iPhones saw a 10%-15% reduction in their orders, the analyst reported. These developments "are not encouraging," but Apple had previously ordered a large number of iPhones for Q4, according to Milunovich. Overall iPhone demand "could still be decent," he believes. However, the analyst lowered his iPhone sales estimate for Apple's March quarter to 61M from 62.5M, asserting that iPhone sales on China's November 11 Singles Day holiday may have come in below expectations. Based on October search volumes, he continues to believe that demand for iPhone units in the fourth quarter of the calendar year will be 75M, in-line with the consensus outlook. Milunovich trimmed his price target on Apple to $140 from $150 but kept a Buy rating on the shares. WHAT'S NOTABLE In a note to investors on November 10, Credit Suisse reported that it was cutting its estimates for 2016 iPhone sales. The firm expects sales of the device to fall 10.4% in the first quarter versus the same period in 2015, and it predicts that iPhone sales will decline 5.5% year-over-year in 2016. Suppliers with greater than 10% exposure to Apple include Avago (AVGO), SanDisk (SNDK), Analog Devices (ADI), Broadcom (BRCM), Texas Instruments (TXN), NXP Semiconductors (NXPI) and Fairchild (FCS), Credit Suisse reported. The firm said it continues to have a negative view of the smartphone sector. PRICE ACTION: In early trading, Apple added nearly 1% to $113.34.

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