Taking Profits (Reluctantly) At Cray
Vince Martin • 14 Comments
Vince Martin • 14 Comments
After A 50% Run, Cray Remains A Buy
Wed, Jun. 15, 3:07 PM
Wed, May 4, 12:50 PM
Wed, May 4, 9:10 AM
Tue, May 3, 5:37 PM
Tue, May 3, 4:49 PM
- Though CRAY beat Q1 estimates, the supercomputer maker says there's now "an increased level of risk" to hitting full-year sales guidance of $825M (near an $826.3M consensus). The risk stems from "reliance on key third-party components, some of which have already been delayed, and the level and timing of new orders."
- Also: Q2 revenue guidance is at $100M, below a $120.7M consensus. 2016 non-GAAP gross margin guidance is now at 33%, slightly above a reported 2015 GM of 32%. Cray previously forecast GM would rise by 100-200 bps in 2016.
- Op. margin is still expected to improve in 2016. 60% of 2016 revenue is now expected to come in Q4.
- CRAY -17.5% after hours to $32.11.
- Cray's Q1 results, earnings release
Tue, May 3, 4:21 PM
Mon, May 2, 5:35 PM
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Tue, Feb. 16, 3:05 PM
- Plenty of tech companies are posting outsized gains on a day the Nasdaq is up 2%. Not surprisingly, many of the standouts are companies that have been hammered since New Year's.
- Notable gainers include action camera leader GoPro (GPRO +12.9%) and GoPro video processor supplier Ambarella (AMBA +6.2%), threat-prevention tech provider FireEye (FEYE +11.2%), supercomputer maker Cray (CRAY +19.5%), chip packaging/testing firm ChipMOS (IMOS +17.8%), point-of-sale hardware/software firm NCR (NCR +9.7%), Web hosting/domain registration firm GoDaddy (GDDY +9%), and driver-assistance system provider Mobileye (MBLY +7.4%). FireEye fell on Friday in the wake of its Q4 report.
- Other big gainers: RF chipmakers Skyworks (SWKS +6.4%) and Qorvo (QRVO +8.9%), 4G modem/M2M module maker Sierra Wireless (SWIR +8%), microcontroller/flash memory maker Cypress Semi (CY +7.5%), microphone maker Knowles (KN +8%), inventory-tracking hardware firm Zebra Technologies (ZBRA +8.5%), cloud HR software firm Paylocity (PCTY +7.8%), cloud collaboration/chat software firm Atlassian (TEAM +10.5%), touch controller/display driver vendor Synaptics (SYNA +7.8%), and online P2P lender LendingClub (LC +14.2%). LendingClub rallied last week after posting a Q4 beat and announcing a $150M buyback.
- Previously covered: Solar stocks, Chinese tech stocks, Groupon, Sonus, Black Box, Canadian Solar, Palo Alto Networks, Qualcomm
Thu, Feb. 11, 6:37 PM
- CRAY's Q4 beat was accompanied by guidance for Q1 revenue of $100M, above a $97.2M consensus.
- Full-year sales guidance of ~$825M is once more reiterated; consensus is at $817.7M. Op. margin is expected to be up Y/Y in 2016, with gross margin rising by 100-200 bps.
- Gross margin fell to 32% from 34% a year ago. GAAP operating expenses rose 13% Y/Y to $56M. Cray ended 2015 with $285M in cash and no debt.
- CRAY +3.1% after hours to $35.00.
- Cray's Q4 results, earnings release
- Last month: Cray ups 2015 guidance, reiterates 2016 guidance
Thu, Feb. 11, 4:10 PM
Wed, Feb. 10, 5:35 PM
Mon, Jan. 25, 7:54 AM
- CRAY has won a $36M contract from the European Center for Medium-Range Weather Forecasts (ECMWF) to upgrade its Cray XC supercomputers and Sonexion high-performance storage system. The hardware to be upgraded stems from a 2013 contract. Deliveries are expected in 2016.
- Cray: "Cray will expand and upgrade the supercomputers at ECMWF to Cray XC40" systems, which will include next-generation Intel® Xeon® processors. ECMWF will also receive additional Cray Sonexion 2000 scale-out Lustre storage, and a 32-node Cray XC40-AC" system with the next-generation of the Intel® Xeon Phi" processor code-named 'Knights Landing.'"
- For reference, Cray has guided for 2016 revenue of ~$825M. CRAY +3.3% premarket following news of the contract and the company's pending entry into the S&P SmallCap 600.
Fri, Jan. 22, 5:28 PM
- Federal Realty (NYSE:FRT) will replace Broadcom (about to be acquired by Avago) in the S&P 500 following the Jan. 29 close. Curtiss-Wright (NYSE:CW) will take Federal Realty's spot in the S&P MidCap 400. CRAY will take Curtiss-Wright's spot in the S&P SmallCap 600.
- Pool Corp. (NASDAQ:POOL) will replace BioMed Realty (about to be acquired by Blackstone) in the S&P 400 after the Jan. 26 close. Asbury Automotive (NYSE:ABG) will take Pool Corp.'s spot in the S&P 600.
- FRT +1.6% after hours to $152.74. CRAY +1.1% to $33.44. ABG +1.7% to $48.80.
Tue, Jan. 12, 10:53 AM| Tue, Jan. 12, 10:53 AM
Mon, Jan. 11, 4:56 PM
- CRAY now expects 2015 revenue of $720M-$725M, above prior guidance of $715M and a $716.8M consensus. (Press Release)
- 2016 guidance for revenue of ~$825M is reiterated. Consensus is at $818M.
- Cray also announces it has "entered into an expanded credit agreement with Wells Fargo Bank for a $50 million revolving line of credit." The company doesn't have any current plans to use the facility. Cray's cash/investment balance is believed to have stood at $285M at the end of December.
- Shares haven't yet moved after hours. HPC system peer Silicon Graphics has also hiked its guidance this afternoon.
Dec. 11, 2015, 3:21 PM
- A long list of tech firms are off sharply as the Nasdaq and S&P respectively drop 2% and 2.2% ahead of an expected Fed rate hike.
- The casualty list includes threat-prevention hardware/software provider FireEye (FEYE -6.2%), machine data analytics software vendor Splunk (SPLK -7.1%), driver-assistance system vendor Mobileye (MBLY -6.3%), supercomputer makers Cray (CRAY -7.6%) and Silicon Graphics (SGI -7%), audio codec chipmaker Cirrus Logic (CRUS -5.3%), and local services marketplace Angie's List (ANGI -6.3%).
- Others include cloud HR/financials software provider Workday (WDAY -5.6%). enterprise social networking software firm Jive Software (JIVE -5.9%), cloud telematics software provider FleetMatics (FLTX -5.2%), mobile accessory maker Zagg (ZAGG -7.5%), network visibility/monitoring hardware provider Gigamon (GIMO -5.8%), smart grid networking hardware/software provider Silver Spring (SSNI -8.9%), and online travel deals provider Travelzoo (TZOO -6%).
Cray, Inc. designs, develops, manufactures and markets supercomputers and provide storage and analytics solutions. The company also provides software, system maintenance and support services and engineering services related to supercomputer systems. Its customers include domestic and foreign... More
Industry: Diversified Computer Systems
Country: United States
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