Jul. 8, 2015, 11:37 AM
- Chip stocks are underperforming as the Nasdaq registers a 1.2% decline. The Philadelphia Semi Index (SOXX -2.6%) is now down 13% from a June 1 peak of $101.80, and 4% YTD; it's still up 87% from a Nov. 2012 low of $47.58.
- Plunging Chinese equity markets could be weighing on the group. With retail Chinese investors having set up brokerage accounts en masse over the last year, there are plenty of concerns about the reverse wealth effect of a crash. The Economist reccently downplayed those worries, noting a relatively modest 15% of Chinese household assets are invested in stocks.
- Major decliners among chip developers include Skyworks (SWKS -4.9%), Qorvo (QRVO -5.6%), InvenSense (INVN -5.6%), NXP (NXPI -4.7%), Freescale (FSL -4%), MoSys (MOSY -9.4%), AppliedMicro (AMCC -5.1%), Cavium (CAVM -3.8%), and Silicon Motion (SIMO -6.4%). SIMO also fell yesterday after favorably adjusting its Q2 sales guidance. Skyworks and Qorvo sold off yesterday morning before rebounding in afternoon trading.
- Other names tied to the industry that are seeing heavy selling pressure include ARM (ARMH -4%), TowerJazz (TSEM -5.1%), UMC (UMC -4.4%), Veeco (VECO -4.3%), and Axcelis (ACLS -4.6%).
- Chip ETFs: SMH, XSD, PSI, SOXL, USD, SOXS, SSG
Jun. 26, 2015, 2:48 PM
- Chip stocks are seeing outsized losses (SOXX -2.6%) amid a 0.8% drop for the Nasdaq following DRAM/NAND flash giant Micron's FQ3 miss and weak FQ4 guidance - the numbers were blamed on a mixture of soft PC demand, associated DRAM price pressure, and a manufacturing process transition. Some analysts have argued Micron's issues are at least partly company-specific and/or that PC and DRAM demand will improve in 2H15.
- The Philadelphia Semi Index is now down 7% from a June 1 peak of $101.80. It's still up 2% YTD, and (thanks partly to an industry M&A wave) roughly 2x from its fall 2012 lows.
- In addition to PC-exposed Intel and AMD, chip stocks sporting large declines include Qorvo (QRVO -4.9%), Sigma Designs (SIGM -5.7%), MoSys (MOSY -7.9%), Anadigics (ANAD -10.8%), Silicon Motion (SIMO -6.5%), Inphi (IPHI -5.3%), PMC-Sierra (PMCS -3.8%), ON Semi (ON -4.2%), AppliedMicro (AMCC -3.7%), and Vimicro (VIMC -5.3%).
- Chip ETFs: SMH, XSD, PSI, SOXL, USD, SOXS, SSG
May 12, 2015, 3:12 PM
- Today's notable tech gainers include insurance software/data exchange provider Ebix (EBIX +5%), Chinese polysilicon maker Daqo (DQ +6.9%), networking SRAM maker MoSys (MOSY +7.7%), enterprise mobility management software firm MobileIron (MOBL +6.3%), U.S. solar installer Solar3D (SLTD +4.3%), and Korean analog/mixed-signal chipmaker MagnaChip (MX +5.3%).
- Notable decliners include Chinese online retailers JD.com (JD -4.4%) and Vipshop (VIPS -5%), Chinese Internet mini-conglomerate Qihoo (QIHU -4.6%), and cloud online learning software provider 2U (TWOU -5.6%). The Nasdaq is down 0.2%.
- Daqo is now up 11% since last Friday's mixed Q1 report. Ebix is up 18% since delivering a Q1 beat last Friday. MobileIron's gains come after the company named well-traveled tech vet Simon Biddiscombe its interim CFO. Solar3D is rallying after issuing a PR that sings the praises a of an upbeat Bernstein report on solar cost declines.
- Qihoo and JD are more than reversing the Monday gains seen amid a Chinese Internet stock rally. 2U has now fully given back the gains seen last week following its Q1 beat.
- Previously covered: Rackspace, Everyday Health, magicJack, WidePoint, LivePerson, YY, STMicroelectronics, ChipMOS, iDreamSky, Leidos, Photronics
Mar. 16, 2015, 1:29 PM
- MoSys (NASDAQ:MOSY) is posting healthy gains after filing its 2014 10-K after the close on Friday afternoon. 116K shares have been traded thus far vs. a 3-month daily average of 184K.
- The networking SRAM developer still trades at a fraction of a 52-week high of $5.22. Shares rallied two weeks ago after CEO Leonard Perham disclosed he bought 312.5K shares through MoSys' recent 12.5M-share offering.
Mar. 5, 2015, 12:12 PM
- MoSys (NASDAQ:MOSY) CEO Leonard Perham discloses he bought 312.5K shares through his company's recently-announced 12.5M-share offering (priced at $1.60).
- MoSys had previously said Perham and COO Thomas Riordan would collectively buy 406K shares through the offering. Perham bought 50K shares in November, 250K in May 2013, and 100K in May 2012. His total stake now stands at 1.75M (a little under 3%).
Feb. 27, 2015, 9:41 AM
- MoSys (NASDAQ:MOSY) is selling 12.5M shares at $1.60, a 21% discount to Thursday's close. Underwriters have a 1.875M-share overallotment option.
- Net proceeds are expected to total $18.5M. CEO Leonard Perham and COO Thomas Riordan have agreed to buy 406K shares through the offering.
- Shares have fallen to their lowest levels since December.
- Yesterday: MoSys plans stock offering
Feb. 27, 2015, 9:15 AM
- Gainers: XIN +20%. CYCC +17%. SREV +16%. BLOX +16%. CYTX +13%. CLNE +12%. MNST +10%. ATOS +10%. SD +9%. SPLK +7%. MEET +6%. ARUN +6%. VIMC +6%. HZNP +6%.
- Losers: CVSL -42%. RESN -28%. MOSY -21%. WTW -18%. TUBE -17%. TBIO -14%. JCP -13%. DRL -13%. GENE -11%. OCN -8%. PBPB -8%. NBG -8%. NVAX -7%. FRO -5%.
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).
Dec. 31, 2014, 3:36 PM
- MoSys (NASDAQ:MOSY) is closing out a rough 2014 on a very strong note. Volume (216K shares) has topped a 3-month daily average of 158K.
- The networking SRAM maker is still ending the year down 67% YTD. It's expected by the Street to see revenue rise 155% next year to $13.8M, but to nonetheless post a $0.49/share loss (slightly better than 2014's $0.55/share).
Nov. 5, 2014, 3:41 PM
- MoSys (NASDAQ:MOSY) CEO Len Perham: "The third quarter saw a slowdown in sales activity, consistent with what has been reported by various other suppliers to the telecommunications and networking markets. Although customer engagements continued for us, it was slow going, and we did not close as many design wins as we expected."
- Perham adds MoSys' design activity has rebounded recently, and that its Q4 performance is expected to be "considerably more robust." His firm is "cautiously optimistic" that it can "get close to doubling design wins year over year."
- Product revenue totaled $400K in Q3, down from $1M in Q2 and up from $100K a year ago. Royalty/other revenue fell to $700K from $800K in Q2 and $900K a year ago.
- GAAP opex rose 18% Y/Y to $9.2M. MoSys ended Q3 with $33.7M in cash/investments, down from $40.1M at the end of Q2.
- Did someone know something in advance? Shares fell hard ahead of earnings.
- Q3 results, PR
Nov. 4, 2014, 3:12 PM
- MoSys (NASDAQ:MOSY) is off sharply ahead of this afternoon's Q3 report. Volume is over 3x a 3-month average of 123K.
- Shares are one more close to a 52-week low of $2.21 (set in September), and down 58% YTD.
Jul. 22, 2014, 2:28 PM
- MoSys (MOSY +5.4%) had $1M in product (chip) revenue in Q2, up from $600K in Q1. Royalty/other revenue totaled $800K, flat Q/Q and down from $1.1M a year ago.
- The ongoing shift towards chip sales led gross margin to fall to 42% from 57% in Q1 and 93% a year ago. Opex was $7.9M, down from $8.9M in Q1 and up from $7.4M a year ago.
- The company secured "additional design wins" for its Bandwidth Engine networking SRAM chips in Q2, and remains optimistic early design win clients will "initiate their production ramps later this year." R&D work continues for MoSys' 3rd-gen Bandwidth Engine and next-gen 100G Ethernet PHY ICs.
- MoSys ended Q2 with $40.1M in cash/investments, down from $45.7M at the end of Q1.
- Q2 results, PR
Jul. 7, 2014, 5:39 PM
Jun. 2, 2014, 5:37 PM
May 2, 2014, 5:37 PM
- With a mix shift towards IC sales (relative to royalties/licensing) leading gross margin to fall to 57% from Q4's 78% and the year-ago period's 99%, MoSys (MOSY -4.3%) missed Q1 EPS estimates even though revenue was roughly in-line.
- On the CC (transcript), CEO Leonard Perham noted low initial volumes for MoSys' Bandwidth Engine networking SRAM chips is limiting margins for now. But he expressed confidence "the Bandwidth Engine family is going to be a 60%-plus gross margin product."
- CFO James Sullivan suggested first the first-gen Bandwidth Engine (BE1) could have trouble seeing a 50%+ GM, but thinks the second-gen product (BE2) will have a much better margin profile.
- Perham asserts MoSys "should record substantially more design wins in 2014 than 2013." At the same time, he cautions "the critical inflection point where revenue ends up is still illusive, most difficult to forecast."
- Opex rose 49% Y/Y to $8.9M (compares with revenue of $1.3M). MoSys ended Q1 with $45.7M in cash/investments, down from $50.5M at the end of Q4.
- Q1 results, PR
Sep. 26, 2013, 5:34 PM
MoSys, Inc. is a fabless semiconductor company enabling leading equipment manufacturers in the networking and communications systems markets to address the continual increase in Internet users, data and services. The company's solutions deliver data path connectivity, speed and intelligence... More
Industry: Semiconductor - Integrated Circuits
Country: United States
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