Oppenheimer has some interesting comments on couple tech companies following their Silicon Valley Bus tour:
- The firm had O2Micro International (NASDAQ:OIIM) CEO Sterling Du present on the tour. Co is seeing strong 3Q on robust notebook orders. Also seeing new orders from Sony as a result of the recent litigation settlement. Company sees additional $8mm-$9mm in cash settlement in 3Q-4Q07. This should further strengthen balance sheet.
4Q momentum should continue with strong notebook and LCD TV shipments. 4Q topline could be up 5%-10% q/q compared to current street estimates of up 2%-5% q/q for 4Q07. Reiterates Buy as they see estimates going up post earnings. Tgt stands currently at $17.
Notablecalls: I like this call. OpCo is saying revs will likely come in way better than expected and the tgt will go higher..say toward $20 level following the earnings call. The chart looks great too.
- According to Opco, Marvell (NASDAQ:MRVL) is seeing significant new design win in Enterprise with SoC and could provide significant upside to storage revenues for C2008. Shipments could start as early as calendar 1H08. This could result in large market share gain in the enterprise HDD market where MRVL has little presence today.
MRVL also has first ODD (optical disk drive) win for production ramp in 2H08. Believes the first win could be at Panasonic. Company also saying hoping to see CFO announcement in next two months, should be positive for company. MRVL has put headcount restrictions in place possibly capping headcount, possibly through C09. Company also saying PC inventory in channel in line, no inventory build. Buy, $22 tgt.
Notablecalls: Not actionable but 'good to know' category.