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Fri, Jan. 22, 3:30 PM
- Plenty of tech names crushed over the first 20 days or so of January are sharply higher as the Nasdaq (up 2.4%) continues rebounding from Wednesday's intraday lows. Many still have sizable YTD losses.
- Big gainers among telecom equipment/component firms: Optical component vendors Oclaro (OCLR +9.5%) and NeoPhotonics (NPTN +6%), mobile infrastructure/services giant Ericsson (ERIC +6.2%), optical networking hardware vendor Infinera (INFN +5.2%), and microcap RF backhaul hardware firms DragonWave (DRWI +24.3%) and Ceragon (CRNT +10%). Ericsson underperformed yesterday following a pre-earnings Goldman downgrade.
- Among enterprise tech firms: Threat-prevention technology and services provider FireEye (FEYE +7.7%), big data software provider Hortonworks (HDP +16.1%), security software/services firm Rapid7 (RPD +9.1%), data governance software firm Varonis (VRNS +5.6%), and flash storage array vendor Violin Memory (VMEM +13.6%). FireEye fell slightly yesterday after making a Q4 pre-announcement and announcing a $200M+ acquisition. Hortonworks was crushed on Tuesday after a Q4 pre-announcement and stock offering shelf registration.
- Among chip industry firms: RF chipmaker Skyworks (SWKS +6%), audio codec developer Cirrus Logic (CRUS +7.3%), smart TV/home automation chipmaker Sigma Designs (SIGM +6.5%), FPGA/sensor hub maker QuickLogic (QUIK +9.2%), and chip equipment firms Axcelis (ACLS +4.9%) and Aixtron (AIXG +4.9%). Major Cirrus/Skyworks client Apple reports on Tuesday afternoon.
- Also up big: 3D printer maker 3D Systems (DDD +7.1%), Russian search leader Yandex (YNDX +7.5%), mortgage origination software firm Ellie Mae (ELLI +6.4%), Chinese solar firm Yingli (YGE +11.4%), and SMB Web services provider Wix.com (WIX +5.3%).
- Previously covered: Rosetta Stone, Live Ventures, HP Enterprise, Mitel, Mobileye, Qorvo, SunPower, SolarCity
Thu, Jan. 7, 2:56 PM
- The Nasdaq is down 2.4%, and the S&P down 2%, as investors continue fleeing to safety amid ongoing Chinese worries. Not surprisingly, many high-beta tech names are seeing much steeper losses.
- 5%+ decliners include action camera leader GoPro (GPRO -7.9%), fitness band leader Fitbit (FIT -7.6%), threat-protection hardware/software provider FireEye (FEYE -7.2%), video processor developer/GoPro supplier Ambarella (AMBA -8.6%), flash storage array vendor Violin Memory (VMEM -12.7%), capacitor maker Kemet (KEM -14.6%), and cloud healthcare software firms Castlight (CSLT -8.3%) and Veeva (VEEV -6.4%).
- Others include Russian search leader Yandex (YNDX -5.9%), 3D measurement/scanning hardware firm FARO Technologies (FARO -7.5%), ultracapacitor maker Maxwell (MXWL -9.1%), car-buying site TrueCar (TRUE -8.8%), analog/mixed-signal chipmaker ON Semi (ON -5.4%), online ad platform Rocket Fuel (FUEL -6.3%), and LED/chip equipment maker Aixtron (AIXG -6.8%).
- Previously covered: Chinese tech stocks, solar stocks, Everyday Health, SunEdison, Atmel
Dec. 10, 2015, 12:46 PM
Dec. 10, 2015, 9:54 AM
- Aixtron (NASDAQ:AIXG) is now down 40% over the last two days thanks to yesterday's news major Chinese LED equipment maker San'an Optoelectronics has cancelled plans to buy additional AIX R6 MOCVD systems due to the system's failure to meet qualification requirements.
- Benchmark has downgraded Aixtron to Positive from Buy. Canaccord's Jed Dorsheimer has cut his target by $0.75 to $3.75, while reiterating a Sell. "Given continued weak market conditions, we see a protracted turnaround at best."
- Rival Veeco (NASDAQ:VECO) is now up 7% over the last two days. Benchmark views Aixtron's issues as a positive for Veeco.
Dec. 10, 2015, 9:14 AM
Dec. 9, 2015, 3:57 PM
- Aixtron (NASDAQ:AIXG) has reached a deal with major Chinese LED maker San'an Optoelectronics to cut San'an's orders for Aixtron's AIX R6 MOCVD systems from 50 to just 3 (already delivered).
- It adds San'an's "specific qualification requirements" for the system weren't achieved. Nonetheless, Aixtron insists the companies will "continue their existing partnership by cooperating on future system generations as well as on systems for other applications," and that the company "proceed in marketing and the further development of [its] AIX R6 Showerhead technology."
- Aixtron now expects 2015 revenue of €190M ($209M), at the low end of a prior €190M-€200M guidance range. 2016 revenue is expected to be similar to 2015 levels; consensus is for revenue to grow 27.6% to €246.6M.
- The announcement comes five days after a CLSA downgrade. MOCVD equipment rival Veeco (NASDAQ:VECO) has caught a bid.
Dec. 4, 2015, 9:58 AM
- CLSA has downgraded Veeco (VECO -5.8%) to Underperform, and LED equipment peer Aixtron (AIXG -3.8%) to Sell.
- The downgrades come two weeks after Barclays upgraded Aixtron, arguing LED manufacturing investments from Osram and others will boost demand. Both Aixtron and Veeco saw major Q/Q Q3 bookings drops (I, II), with each blaming delayed spending.
Nov. 16, 2015, 9:00 AM
- Believing new investments from LED manufacturers will lift equipment demand (under pressure for a long time due to industry oversupply), Barclays' Youssef Essaegh has upgraded Aixtron (NASDAQ:AIXG) to Overweight, and doubled his target to €10 ($10.70).
- Essaegh notes German lighting giant Osram (a major Aixtron client) recently announced it plans to significantly expand LED production. Consensus sales estimates are deemed too low, and margins/profits are expected to strongly recover as sales grow.
- Aixtron has risen to $7.38 premarket. The company is coming off a Q3 in which its orders fell 34% Q/Q to €34.4M, something blamed on delayed shipments.
- A rebound in LED equipment demand would also benefit Aixtron rival Veeco (NASDAQ:VECO), which saw its bookings drop 58% Q/Q in Q3 to $52M.
Oct. 27, 2015, 3:59 PM
- Low expectations are giving Aixtron (NASDAQ:AIXG) a lift: The LED/chip equipment maker has risen sharply in spite of missing Q3 revenue estimates (while beating on EPS) and cutting its full-year revenue guidance to €190M-€200M ($209M-$220M) from €220M-€250M. Consensus was already down to €207.8M.
- Orders fell 34% Q/Q in Q3 to €34.4M (less than revenue of €54.6M). Aixtron blames delayed shipments, particularly for its AIX R6 showerhead tool. An initial order has been received for Aixtron's Optacap OLED encapsulation technology.
- Boosting EPS: Gross margin rose to 33% from Q2's depressed 9%. Aixtron had €243.5M in cash at the end of Q3, and no bank borrowings.
- Q3 results, PR
Oct. 27, 2015, 6:58 AM
- Aixtron Aktiengesellschaft (NASDAQ:AIXG): Q3 EPS of €0.01 beats by €0.09.
- Revenue of €54.6M (+19.7% Y/Y) misses by €10.82M.
Oct. 26, 2015, 5:30 PM
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Oct. 13, 2015, 12:45 PM
Oct. 13, 2015, 10:12 AM
- Aixtron (NASDAQ:AIXG) now expects 2015 revenue of €190M-€200M ($216M-$227M), below prior guidance of €22M-€250M. The German LED equipment (MOCVD) maker blames the push-out of shipments to a large Chinese customer. The shipments are now expected in 2016 "depending on the progress of the ongoing milestone-based qualification process."
- The company still expects to achieve EBITDA breakeven in 2H15. Q3 results arrive on Oct. 27.
- Aixtron is close to a 52-week low of $5.40. Rival Veeco (VECO -1.1%), which reports on Oct. 28, is down modestly.
Jul. 31, 2015, 9:35 AM
- BNP Paribas has upgraded Aixtron (NASDAQ:AIXG) to Outperform 3 days after the German LED/chip equipment maker posted a Q2 miss.
- In spite of the miss, Aixtron reiterated full-year revenue guidance of €220M-€250M. The company also reported its order backlog (pressured in recent quarter by soft LED capex) rose 15% Q/Q and 37% Y/Y to €91.2M, and that it's seeing "strong interest" in the OLED manufacturing equipment obtained through the PlasmaSi acquisition.
Jul. 28, 2015, 6:38 AM
- Aixtron Aktiengesellschaft (NASDAQ:AIXG): Q2 EPS of -€0.17 misses by €0.07.
- Revenue of €40.4M (-12.6% Y/Y) misses by €14.72M.
- Shares -5% PM
Jul. 27, 2015, 5:30 PM
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Aixtron SE provides deposition equipment to the semiconductor industry. Its solutions are used to build components for electronic and opto-electronic applications based on compound, silicon, or organic semiconductor materials.
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