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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. 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. 9, 2015, 9:41 AM
- Believing 2015 guidance is at risk, European firm Kepler Cheuvreux has downgraded Aixtron (NASDAQ:AIXG) to Reduce, and cut its target by €2 to €5 ($5.53).
- Kepler's Bernd Laux: "The recovery of the company's business continues to lack momentum, with its customers suffering from excess capacity and price erosion ... Taking into account lacklustre demand (e.g. depressed backlighting) and strong price erosion for LEDs (e.g. Cree warning), thus continued suboptimal loading, demand for the delivery of new MOCVD tools has remained behind original expectations. Hence, Aixtron's huge San'an order will most likely also be pushed out."
- The German chip/LED equipment maker has made new 52-week lows, and is now down 45% YTD.
May 6, 2015, 3:31 PM
- Today's notable tech gainers include LED/chip equipment maker Aixtron (AIXG +6.7%), distributed power system/software firm PowerSecure (POWR +7.2%), cloud customer support software vendor Zendesk (ZEN +5%), and chip packaging IP firm Tessera (TSRA +4.9%).
- Notable decliners include LED giant Cree (CREE -4.2%), 3D printer maker ExOne (XONE -5.6%), big data/analytics software provider Hortonworks (HDP -5.7%), health site owner Everyday Health (EVDY -7.7%), and IP licensing firm WiLAN (WILN -6%). The Nasdaq is down 0.7%.
- PowerSecure is up after beating Q1 estimates on the back of major increases in Distributed Generation and Solar Energy segment sales. Zendesk is up after posting a Q1 beat and guiding for full-year revenue of $192M-$195M (above a $189.6M consensus). Tessera is rallying thanks to a Q1 beat and strong Q2 guidance (revenue of $62M-$64M and EPS of $0.47-$0.50 vs. a consensus of $$57.3M and $0.40).
- Cree is adding to the losses seen two weeks ago after it posted mixed results and light guidance. ExOne's drop comes after larger rival 3D Systems declined to provide guidance with its Q1 results. Everyday has been downgraded to Hold by Stifel. WiLAN is adding to last week's post-earnings losses.
- Previously covered: Zulily, Groupon, Axcelis, QuinStreet, Skullcandy, Millennial Media, LendingClub, TechTarget, Anadigics, Zagg, Cray, Enphase, Wix.com, Jive Software
Apr. 8, 2015, 12:43 PM
- Believing LED equipment rival Veeco (VECO -2.3%) is better-positioned in China, Berenberg's Tammy Qiu has downgraded Aixtron (AIXG -2.5%) to Hold, and cut her target by €5 to €8 ($8.64).
- Qiu thinks Veeco's solutions are more efficient and deliver greater automation, and that Aixtron provided leading LED manufacturer San'an favorable pricing to score a big order last year.
- The downgrade comes as Aixtron announces the acquisition of PlasmaSi, a maker of thin-film encapsulation equipment for OLED production, for up to $16M in cash. OLED investments have been growing rapidly, thanks to both mobile demand and the nascent OLED TV and lighting markets.
- In spite of Qiu's positive remarks, Veeco has followed Aixtron lower on an up day for tech. Shares are about $3 above a 52-week low of $27.80.
Apr. 2, 2015, 3:20 PM
- The the Nasdaq is up only fractionally ahead of the long weekend, the ranks of major tech gainers have easily outnumbered the ranks of major decliners today.
- Today's notable gainers include Chinese online video site Youku (YOKU +4.5%), IP licensing firm VirnetX (VHC +6.7%), mobile payment-processing/telemetry services firm USA Technologies (USAT +5.8%), VoIP service provider magicJack (CALL +5%), LED/chip equipment firm Aixtron (AIXG +4.9%), Chinese jobs site 51job (JOBS +4.9%), grocery coupon site Coupons.com (COUP +4.5%), telecom services/analytics firm Neustar (NSR +3.2%), and LED/chip equipment vendors Veeco (VECO +2.7%) and Aixtron (AIXG +4.9%).
- Youku is bouncing after having sold off to new 52-week lows in the wake of its Q4 numbers and an SEC inquiry disclosure. magicJack is recovering some of the big March losses seen after the company posted mixed Q4 results. Neustar is now up 19% since confirming a major contract loss and announcing a $150M buyback a week ago.
- Previously covered: 500.com, AudioCodes, Renren, Expedia, Hutchison, ReneSola, Cheetah Mobile, Sungy Mobile, Yandex, Digital Ally
- Notable decliners: Motorola Solutions, NeoPhotonics, TrueCar, Carbonite, Elephant Talk
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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