Anadigics (ANAD +10.2%) skies higher following its Q1 report. The results were nothing special,...
Anadigics (ANAD +10.2%) skies higher following its Q1 report. The results were nothing special, but expectations were low, and the Street seems encouraged by the momentum for Anadigics' nascent Wi-Fi front-end chip (FEIC) business. Wi-Fi sales rose to $4.8M in Q1 from $1.1M in Q4, and Anadigics mentioned on its earnings call its FEICs are found in several prominent Wi-Fi chipset reference designs. That, in turn, has led to major smartphone/tablet design wins, including for Samsung's Galaxy S4. Q1 gross margin was just 1%, down from Q4's 2.5%. Opex +9% Y/Y vs. rev. growth of -7%.
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