Chartered Semi CEO Says Firm Is Not a Takeover Target -- WSJ

The Wall Street Journal reports Chartered Semiconductor Manufacturing CEO Chia Song Hwee said his firm 'isn't a takeover target, and nor is it in talks with any potential buyer,' in an interview on Friday. This follows Chartered Semi's Q1 earnings release the day prior, in which it reported a 76% decline in net income to $5.3 million ($0.01/ADS), and a 10.6% drop in revenues to $345.3m. The Journal notes speculation of a takeover began in March when Temasek Holdings -- the state-owned investment arm of Singapore and a 60% Chartered Semi shareholder -- made an offer for chip tester and assembler STATS ChipPAC Ltd. In Chartered Semi's earnings press release, Mr. Chia said, "... we are seeing resumption of growth across several of our customers and applications [in Q2]" and "... we are expecting wafer shipments to grow approximately 15% sequentially," however, due to lower 90nm wafer shipments to the computer sector, "we expect Chartered revenues and revenues including our share of SMP to be essentially flat sequentially."

Sources: The Wall Street Journal, Q1 Earnings Press Release
Commentary: Five Reasons To Be Bullish On Semiconductors • Growth is Trumping Value: Counting Semi Stock Chips • The Long Case for Semi Stocks
Stocks/ETFs to watch: Chartered Semiconductor Manufacturing (CHRT). Competitors: Semiconductor Manufacturing International (SMI), United Microelectronics (UMC), Taiwan Semiconductor Manufacturing (TSM)

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