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Aug. 11, 2015, 5:30 PM
Jul. 23, 2015, 2:56 PM
- Application delivery controller/security hardware vendor F5 (FFIV +6.9%) beat FQ3 estimates on the back of strong software sales, and provided above-consensus FQ4 EPS guidance (revenue was in-line). With growing 100G long-haul optical deployments serving as a tailwind, optical networking hardware vendor Infinera (INFN +9.6%) beat Q2 estimates and provided strong Q3 guidance.
- Also: Optical component vendor Alliance Fiber (AFOP +16%) beat estimates and offered healthy guidance. Strong datacom component demand from cloud service providers was cited.
- A slew of telecom/networking equipment, component, and chip vendors are higher on a day the Nasdaq is down 0.4%. The list includes Infinera rival Ciena (CIEN +1.6%), F5 rival Radware (RDWR +3.3%), and Alliance Fiber peer NeoPhotonics (NPTN +4.7%). Others include Ciena acquisition target Cyan (CYNI +1.8%) and chipmakers Cavium (CAVM +3.6%), PMC-Sierra (PMCS +3%), EZchip (EZCH +2.8%), and InPhi (IPHI +3.7%).
- Broader gains for chip stocks - the Philadelphia Semi Index is up 1.7% after selling off hard yesterday - are likely helping the chipmakers. Cisco, meanwhile, is up 2.2% after striking a deal to sell its share-losing set-top unit to Technicolor.
- During F5's earnings call, new CEO Manny Rivelo stated F5 now leads the virtual (software-based) ADC market, which has sometimes been seen as a major long-term threat to its ADC hardware business, and noted the company saw a 20% Y/Y increase in its deferred revenue balance (driven by services/subscription growth) to $743M. He also disclosed sales chief Dave Feringa is stepping down on Oct. 1; his successor will be named shortly.
- On Infinera's call, CEO Tom Fallon mentioned the company has now invoiced 12 customers for its new Cloud Xpress data center interconnect platform, up from 7 three months ago. For now, long-haul optical still makes up over 90% of revenue - Cloud Xpress growth, the pending launch of a metro aggregation product, and (provided it's approved) the Transmode acquisition should change that. 3 customers accounted for over 10% of Q2 revenue.
Jun. 16, 2015, 11:53 AM
- ZTE plans to use EZchip's (NASDAQ:EZCH) NPS-400 network processor in its next-gen carrier router line cards. The NPS-400, which succeeds the current-gen NP-5, delivers up to 480Gbps of throughput (twice the NP-5's), and is set to begin sampling in 2H15.
- ZTE accounted for 8% of EZchip's Q1 sales, trailing only Cisco's 35%. EZchip tumbled last month after using its Q1 report to announce Cisco is expected to use an proprietary ASIC in its next-gen edge router line cards in lieu of the NPS-400. The company is still hoping to sell Cisco on the NPS-1000, a future processor expected to provide 1Tbps of throughput.
May 13, 2015, 12:07 PM
- EZchip (NASDAQ:EZCH) has guided on its Q1 CC (prepared remarks - .pdf) for Q2 revenue of $27.5M-$28.5, in-line with a $28.3M consensus. Gross margin is expected to be around 75% - it was at 74% in Q1, down from 81.7% a year ago thanks to the Tilera acquisition.
- The company also tried hard to argue it can offset Cisco's decision not to use EZchip's NPS-400 NPU in its next-gen edge router line cards with various NPS-400 design wins from carriers, networking hardware vendors, and (Internet) data center owners. Tilera's TILE-Mx processors (support up to 100 ARM cores, aimed at data centers) were also cited as a future growth driver.
- Cisco accounted for 35% of EZchip's Q1 revenue, and ZTE 8%; Cisco sales are expected to grow in 2015 as NP-5 shipments ramp. The NPS processor line is expected to start producing revenue "as early as 2016," and the TILE-Mx line in 2017.
- Shares remain down sharply, but have slightly pared their premarket losses.
May 13, 2015, 9:26 AM
- EZchip (NASDAQ:EZCH) uses its Q1 report to state its largest customer (i.e. Cisco) doesn't currently plan to use EZchip's NPS-400 network processor (NPU) in its next-gen edge router line cards.
- The company adds Cisco (NASDAQ:CSCO) recently began using EZchip's NP-5 NPU (entered production in late 2014), that it doesn't think "a next generation successor for the NP-5 is likely to ship for approximately three years," and that the NP-5 is expected to "continue generating revenues at this customer for several more years beyond this three year period."
- Concerns that Cisco could drop EZchip in favor of an in-house NPU have been around since the networking giant unveiled its nPower X1 NPU in Sep. 2013. At the time, EZchip said it believes Cisco hasn't made a decision on which processor will succeed the NP-5.
- Today, EZchip says it believes Cisco's next-gen edge router line cards will require more throughput than is provided by the NPS-400 (480 Gbps), and that Cisco is "currently developing such a solution in-house." EZchip, for its part, is working on an NPS-400 successor (the 1Tbps NPS-1000) that it hopes to sell Cisco on. The NPS-400 begins sampling in 2H15, and is being considered for other platforms at Cisco (as well as other clients).
- EZchip has tumbled to $14.28 in premarket trading.
- Q1 results, PR
May 13, 2015, 9:15 AM
May 13, 2015, 8:14 AM
- EZchip Semiconductor (NASDAQ:EZCH): Q1 EPS of $0.24 beats by $0.01.
- Revenue of $26.9M (+32.6% Y/Y) beats by $0.4M.
May 12, 2015, 5:30 PM
Mar. 23, 2015, 9:12 AM
- EZchip's (NASDAQ:EZCH) buyback is good for repurchasing 3.3% of shares at current levels. It arrives after shares closed on Friday just $1.29 above a 52-week low of $18.19.
- The network processor vendor had $185.8M in cash (equal to 31% of its market cap) to pay for buybacks with at the end of 2014, and no debt.
- EZCH +1.5% premarket to $19.78.
Feb. 28, 2015, 3:33 PM
- Plenty of chipmakers and related IP providers have unveiled new products this week in tandem with the industry's ISSCC conference, and in advance of the Mobile World Congress (runs from Monday-Thursday).
- ARM (NASDAQ:ARMH) has furthered its embedded/IoT push by launching IFC (short for Intelligent Flexible Cloud), a hardware/software framework for creating intelligent, reliable networks of Web-connected, ARM-powered devices.
- IFC includes networking protocols for ARM-based processors, as well as support for software-defined networking (SDN - the offloading of network management to software-based controllers) and network functions virtualization (NFV - allows commodity hardware to be turned into a networking appliance). It complements ARM's mbed IoT platform for embedded/wearable devices.
- ARM server CPU vendors Cavium, Marvell, and AppliedMicro support IFC, as does network processor vendor EZchip's (NASDAQ:EZCH) Tilera unit, which just unveiled a new line of processors (the TILE-Mx family) that supports up to 100 64-bit ARM cores and 200Gbps of throughput; it begins sampling in 2H16. Benchmark is upbeat about the TILE-Mx line's potential.
- Broadcom (NASDAQ:BRCM) has launched: 1) A smartwatch platform featuring an app processor with 2G/3G modem support, a Wi-Fi/Bluetooth combo chip, a GPS SoC with an integrated sensor hub, an NFC radio, and a wireless charging IC. 2) An SoC for virtual (software-based) broadband customer premise equipment. 3) Two SoCs for wireless backhaul hardware that are declared to be the first to support 5Gbps of throughput.
- NXP (NASDAQ:NXPI) has launched: 1) Embedded microcontrollers with advanced security features meant to protect against theft/cloning. Targeted products include smart meter hubs, home/factory automation devices, and aftermarket auto hardware; SemiAccurate likes what it sees. 2) An RF transceiver that enables fully wireless earbud headphones (no wires between earbuds).
- Xilinx (NASDAQ:XLNX) has refreshed its UltraScale+ FPGA and programmable SoC lines with chips made using TSMC's next-gen 16nm FinFET+ (3D transistor) process. The chips improve performance/power draw via SRAM integration and new interconnect optimizations, begin shipping in Q4, and aim to keep Xilinx competitive on the high-end as Altera launches FPGAs using Intel's 14nm process.
- IDT (NASDAQ:IDTI), an early leader in the wireless charging IC market, has rolled out new charging transmitter and receiver ICs that can respectively handle 15W and 10W of power. The transmitter contains a low-power ARM Cortex-M0 CPU core, and is contained within a tiny 5mm x 5mm package.
Feb. 11, 2015, 8:02 AM
- EZchip Semiconductor (NASDAQ:EZCH): Q4 EPS of $0.23 beats by $0.02.
- Revenue of $22.4M (+11.4% Y/Y) misses by $0.66M.
- Shares +0.48% PM.
Feb. 10, 2015, 5:30 PM
Jan. 29, 2015, 2:32 PM
- MoSys (MOSY -6.4%) is having a rough time ahead of tomorrow morning's Q4 report. Shares are 20% below where they traded before the networking SRAM maker posted a Q3 miss and reported seeing a design win slowdown on Nov. 4.
- This week has seen MoSys announce a partnership with network processor vendor EZchip (EZCH +1%) through which the former will provide a version of its Bandwidth Engine 3 SRAM IC optimized for the latter's NPS processors (set to sample this year, aimed at carrier Ethernet switches/routers and data center hardware).
- Also: MoSys has been showing off its SRAM and transceiver (PHY) ICs this week at the chip industry's DesignCon conference (runs from Jan. 27-30).
Jan. 21, 2015, 11:57 AM
- EZchip Semiconductor (EZCH +0.3%) will report Q4 and full-year results before the open on Wednesday, February 11th. The conference call will begin at 10.00 am ET.
- Consensus views for Q4 and 2014 are for EPS of $0.22 and $1.19 and revenue of $22.92M (+14% Y/Y) and $84.47M (+19.2%), respectively.
Dec. 22, 2014, 2:33 PM
- EZchip (EZCH +6.4%) declares its 200-gig NP-5 network processor "is now in full production," and is being "delivered in quantity to EZchip's customers for deployment in Tier-1 carrier and data-center networks."
- The NP-5 offers twice the throughput of the prior-gen NP-4, and carries an ASP that's 50% higher. EZchip asserts the extra horsepower will enable line cards with "multiple 40-Gigabit and 100-Gigabit ports."
- The company mentioned on its Q3 CC it's seeing "a lot of activity with ZTE" related to the NP-5, and that top customer Cisco plans to migrate its existing NP-4-based (edge router) platforms to the NP-5. However, EZchip would only say Cisco, which unveiled its nPower X1 processor last year, will "possibly" use the NP-5 in new platforms.
- EZchip's NPS processor line - it can handle deeper packet analysis, and is aimed at both carrier Ethernet and data center hardware - is expected to begin sampling next year.
Dec. 9, 2014, 1:52 PM
- Verizon CFO Fran Shammo has promised his company will continue growing wireless capex (albeit while cutting wireline capex) to keep up with data traffic growth. Small cells and smart antennas were mentioned as areas of interest.
- The remarks have been well-received by investors in telecom equipment and component/chip vendors, many of whom have been hit hard by soft North American and (to an extent) European spending. The Nasdaq is up 0.3%.
- Gainers: JDSU +3.6%. FNSR +3.1%. CYNI +10.1%. INFN +2.8%. CIEN +1.9%. AMCC +3.7%. PMCS +3.7%. ZHNE +3%. OCLR +5.4%. AFOP +2.8%. ADTN +2.5%. UBNT +2.2%. XXIA +1.7%. CALX +3.5%. EZCH +2.9%. SONS +2.4%. Sonus is also benefiting from a bullish Wedbush coverage launch.
- The group was pummeled in November after AT&T set a 2015 capex budget of $18B, down from 2014's $21B.
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