Thu, Jul. 14, 7:31 AM
- Cree (NASDAQ:CREE) +6.4% premarket after Germany chipmaker Infineon Technologies (OTCQX:IFNNF, OTCQX:IFNNY) agrees to acquire its Wolfspeed Power and RF division for $850M.
- Cree says the deal speeds its transition to a more focused LED lighting company and will use the proceeds, combined with improved free cash flow, to fund acquisitions and support additional stock buybacks.
- Cree also provides an FQ4 update, saying preliminary revenue came in at the upper end of its target range at ~$388M.
- Infineon says Wolfspeed will complement last year's acquisition of International Rectifier, a maker of low-power, energy efficient chips.
Tue, Feb. 2, 9:09 AM
- Infineon Technologies AG ADR (OTCQX:IFNNY): FQ1 EPS of €0.17.
- Revenue of €1.56B (+38.1% Y/Y).
Dec. 14, 2015, 7:49 AM
Jun. 2, 2015, 11:15 AM
- Continuing its recent string of patent portfolio acquisitions, WiLAN (NASDAQ:WILN) has bought "the vast majority" of the patents owned by Infineon's (OTCPK:IFNNF) Qimonda memory unit for $33M.
- The portfolio contains over 7K patents and applications (~5K in the U.S.), and is said to cover "technologies related to DRAMs, FLASH memories, semiconductor processes, semiconductor manufacturing, lithography, packaging, semiconductor circuitry and memory interfaces."
- WiLAN CEO Jim Skippen: "This is WiLAN's most important patent acquisition to date ... It is WiLAN's belief that a significant percentage of the microchips currently being manufactured in the world today most likely are covered by claims associated with the patents ... Consequently, our team is excited about the licensing potential of the portfolio, and will begin immediate efforts to launch a major licensing campaign."
- In tandem with the purchase, WiLAN announces DRAM/NAND flash giant Samsung has licensed the Qimonda portfolio through a multi-year deal.
- Thanks to the events, WiLAN now expects Q2 revenue of more than $34M; the company previously forecast Q2 sales of "at least" $18.3M.
Oct. 13, 2014, 9:58 AM
- Pac Crest has downgraded analog/mixed-signal IC vendors Freescale (FSL -2.9%), ON Semi (ONNN -5.5%), and Silicon Labs (SLAB -3.4%) following Microchip's calendar Q3 warning. In-line with Microchip's cautious remarks, the firm cites evidence of a distributor inventory correction and weak Chinese demand.
- All three names sold off on Friday on account of Microchip, with Freescale and ON registering double-digit declines.
- Meanwhile, JPMorgan has downgraded European chipmakers STMicroelectronics (STM -3.4%) and Infineon (OTCPK:IFNNF) to Neutral. The firm is worried about the impact of German and Chinese macro trends.
Oct. 3, 2014, 4:21 AM
- In a note yesterday, BofA/ML listed the following Buy ideas:
- ABB (NYSE:ABB), CRH (NYSE:CRH), Gamesa (OTCPK:GCTAF, OTCPK:GCTAY), Hugo Boss (OTCPK:BOSSY, OTC:HUGPF), Imperial Tobacco (OTCPK:ITYBF, OTCQX:ITYBY)
- Firm also listed the following Underperform ideas:
- Daimler (OTCPK:DDAIF, OTCPK:DDAIY), Infineon (OTCPK:IFNNF, OTCQX:IFNNY)
Sep. 2, 2014, 3:48 PM
- Home Depot (HD -2.4%) confirms it's looking into "unusual activity" as it works with law enforcement officials in relation to a possible loss of customer credit card and debit card information.
- Early reports indicate the breach occurred in late April and could involve over 2K Home Depot stores.
- Shares of Home Depot have recouped a bit from their initial slide after the breach report broke. Some retail analysts called the peeling off of $3.5B in market cap somewhat overdone.
- What to watch: If the breach is as large as some banks are reporting, an increased push by the industry toward the adoption of smart card technology could be on the way.
- Related EMV stocks: PAY, NCR, MA, V, OTCQX:IFNNY, NXPI,
Aug. 27, 2014, 11:52 AM
- Credit Suisse has started STMicroelectronics (STM -1%) at Underperform, and European chip peer Infineon (OTCPK:IFNNF +0.7%) at Outperform.
- Bernstein downgraded STM to Underperform a month ago, predicting 2015 revenue growth will be 300 bps below consensus. Shares go for only 0.9x 2015E sales.
- Infineon has rallied since announcing last week it's buying International Rectifier for $3B.
Aug. 20, 2014, 12:18 PM
- Infineon (OTCPK:IFNNF) is paying $40/share, or $3B, in cash to acquire International Rectifier (NYSE:IRF). The price represents a 51% premium to Tuesday's close, and is well above the ~$2B reported by Bloomberg.
- Infineon is paying ~$2.4B net of cash for the analog chipmaker. The deal will be financed with a mixture of existing cash and credit facilities, and is expected to close in late 2014 or early 2015.
- The companies declare IRF's gallium nitride (GaN) power management discrete components and ICs complement Infineon's own GaN offerings, and (echoing arguments made for recent chip deals) that the combined company will benefit from greater R&D scale and manufacturing/operational synergies.
- IRF is now up 47.4% to $39.16. The company has posted its FQ4 report in tandem with the Infineon announcement.
Aug. 20, 2014, 10:15 AM
- Bloomberg reports Infineon (OTCPK:IFNNF) "nearing an agreement to acquire a U.S.- based semiconductor company for about $2 billion," and that a deal could be announced as soon as today.
- No word on whom Infineon is looking to buy. Bloomberg notes it reported last month analog/mixed-signal chipmakers Fairchild (FCS +5.6%), Power Integrations (POWI +11.3%), and Semtech (SMTC +8%) are considered M&A targets, as the chip industry continues to consolidate.
- Shares of all three companies are up sharply, as are those of peers International Rectifier (IRF +5.8%) and Intersil (ISIL +4.4%). FCS and IRF are currently worth $2B; POWI is worth $1.9B; ISIL is worth $1.8B; and SMTC is worth $1.7B.
- "[Infineon] would like to build a stronger presence in power management," says Liberum Capital's Janardan Menon. He adds the market has "high barriers to entry and strong growth prospects," a fact that also hasn't been lost on Texas Instruments and other industry players.
Jun. 14, 2013, 1:57 PM
Jun. 26, 2012, 11:52 AM
Infineon (IFNNY.PK) provides the latest evidence the chip industry's recovery from its inventory correction is losing momentum (I, II, III): the company warns it expects June quarter revenue to be down slightly Q/Q, compared with prior guidance of flat sales. The warning led Infineon shares to fall 13.4% on the Frankfurt exchange, and could also be pressuring shares of rival Euro chipmaker STMicroelectronics (STM -4.9%).| Jun. 26, 2012, 11:52 AM
Jan. 28, 2011, 3:58 PM
Chipmaker PMC-Sierra (PMCS) tumbles -12.9% after failing to meet Q4 profit expectations and offering a disappointing Q1 revenue forecast. PMC's woes may be having a ripple effect on other chipmakers, such as LSI Corp. (LSI -1.4%), Broadcom (BRCM -4%), and Qualcomm (QCOM -2%).| Jan. 28, 2011, 3:58 PM | 1 Comment
Jan. 18, 2011, 2:56 PM
Semiconductor capital equipment supplier ASM Intl. (ASMI +2.6%) hits a new 52-week high, exceeding its prior $39.47/share peak. Given ASMI's surge, Goldman Sachs downgrades it to Sell, noting 2011 will be a peak year for spending on semiconductor manufacturing and assembly gear.| Jan. 18, 2011, 2:56 PM
Jan. 18, 2011, 2:32 PMARM Holdings (ARMH) isn't the only European semiconductor firm looking strong. The market is boosting lithography equipment maker ASML Holding (ASML -2.1%), too. Other companies on the upswing include Dialog Semiconductor (DLGNF.PK), Infineon Technologies (IFNNY.PK), and STMicroelectronics (STM +3.3%). | Jan. 18, 2011, 2:32 PM | 1 Comment
Nov. 16, 2010, 10:11 AM