Helix Investment Research
Helix Investment Research
Oct. 15, 2013, 9:12 AM
- Emulex (ELX) expects to report FQ1 (Sep. quarter) revenue of $113M-$114M and EPS of $0.12-$0.13. That's above prior guidance of $109M-$111M and $0.09-$0.11, and a consensus of $111.6M and $0.10. (PR)
- The maker of storage adapter cards, switches, and controller ICs attributes the numbers to both strong top-line performance and "tighter operational control. They arrive with the company reportedly on the block, and in the midst of a leadership transition.
- Archrival QLogic (QLGC) could rally in sympathy. Emulex's full FQ1 results arrive on Oct. 30.
Sep. 16, 2013, 2:37 PM
- Starboard, which disclosed a position in Emulex (ELX +5.2%) in July, has issued a letter criticizing the storage adapter card/switch vendor's recent performance, arguing shares are undervalued due to "poor capital allocation decisions," and calling for a board shakeup.
- The firm asserts Emulex's core Fibre Channel adapter card (HBA) business remains "a valuable asset that will continue to generate strong cash flow for years to come," thanks in part to the duopoly Emulex has in this space in tandem with QLogic (QLGC +1.1%). Starboard is also a fan of Emulex's 10-gig Ethernet and Fibre Channel over Ethernet hardware ops.
- Starboard now has a 7.9% stake in Emulex, up from 6.9% in July.
- Bloomberg reported in July Emulex had hired Goldman to help find a buyer. The company saw a management shakeup two weeks later.
Sep. 11, 2013, 4:02 PM
- A number of tech names were volatile today in the wake of presentations from company execs at Deutsche's annual dbAccess Technology Conference (runs from Sep. 10-12).
- In addition to Trulia (previous), companies rallying following presentations include Aruba (ARUN +3.5%), Wipro (WIT +3.5%), QLogic (QLGC +3.1%), Informatica (INFA +1.4%), and SGI (SGI +1.1%). QLogic might also be getting a lift from a bullish Barclays coverage launch.
- Companies declining following executive presentations include Dangdang (DANG -4.9%), Medidata (MDSO -1.9%), Ruckus (RKUS -1.8%), and Demand Media (DMD -1.8%).
- Full conference schedule
Sep. 11, 2013, 9:36 AM
- RF Micro (RFMD +0.4%) has been received a two-notch upgrade of sorts from Raymond James, getting lifted to Strong Buy from Market Perform. Rival Skyworks (SWKS -0.9%) has been upgraded to Strong Buy from Outperform.
- Nokia (NOK +3%) has been upgraded to Outperform by RBC, and has received a two-notch upgrade to Buy by Berenberg. The company has already received a slew of upgrades since the Microsoft deal was announced.
- Himax (HIMX +4%) has been started at Outperform by Northland.
- QLogic (QLGC +1.2%) has been started at Overweight by Barclays. Rival Emulex has been started at Equal Weight.
- Take-Two (TTWO -2.8%) has been downgraded to Sector Perform by Pac Crest.
- iGate (IGTE +6.5%) has been upgraded to Buy by Janney.
- Computer Sciences (CSC +1.3%) has been started at Positive by Susquehanna.
Jul. 25, 2013, 4:39 PMQLogic (QLGC): FQ1 EPS of $0.18 beats by $0.04. Revenue of $113.1M misses by $0.6M. (PR) | Jul. 25, 2013, 4:39 PM
Jul. 25, 2013, 12:10 AM
Notable earnings after Thursday’s close: ACGL, AIR, AMZN, AWAY, BAS, BCOV, BLDR, BMRN , CB, CBG, CERN, CINF, CLF, CPSI,CPT, CRUS, CTCT, DECK, DLB, DOLE, DTLK, ECHO , ELY, EPR, EW, EXPE, FII, FLEX,FR, FSL, GILD, GPN, HLS, HTCH, IDTI, INAP , INFA, KBR, KEG, KLAC, LOGM, LSCC,MCK, MITK, MOH, MSCC, MXIM, N, NBIX, NEM , NR, NTGR, OLN, OUTR, PFG, QLGC,QLIK, RGC, RJET, RSG, SBUX, SPF, SWI, TCO , TGI, THRX, TPX, TSRO, TSYS, UHS,VRSN, WOOF, ZNGA| Jul. 25, 2013, 12:10 AM | 2 Comments
Jul. 24, 2013, 5:35 PM
Notable earnings after Thursday’s close: ACGL, AIR, AMZN, AWAY, BAS, BCOV, BLDR, BMRN , CB, CBG, CERN, CINF, CLF, CPSI,CPT, CRUS, CTCT, DECK, DLB, DOLE, DTLK, ECHO , ELY, EPR, EW, EXPE, FII, FLEX,FR, FSL, GILD, GPN, HLS, HTCH, IDTI, INAP , INFA, KBR, KEG, KLAC, LOGM, LSCC,MCK, MITK, MOH, MSCC, MXIM, N, NBIX, NEM , NR, NTGR, OLN, OUTR, PFG, QLGC,QLIK, RGC, RJET, RSG, SBUX, SPF, SWI, TCO , TGI, THRX, TPX, TSRO, TSYS, UHS,VRSN, WOOF, ZNGA| Jul. 24, 2013, 5:35 PM
Jul. 15, 2013, 10:00 AMA roundup of tech analyst ratings changes: 1) Qualcomm (QCOM -1.6%) has been cut to Neutral by Lazard. 2) NetApp (NTAP +2.6%) has been upgraded to Overweight by Morgan Stanley. 3) ExOne (XONE -5.8%) has been cut to Hold by BB&T. 4) AppliedMicro (AMCC +13.2%) has been upgraded to Strong Buy by Raymond James. 5) Portugal Telecom (PT -2.8%) has been cut to Underperform by BNP Paribas. 6) eGain (EGAN +2.8%) has been started at Outperform by Northland. 7) Himax (HIMX +2.1%) has been started at Buy by Craig-Hallum. 8) American Tower (AMT -1.4%) has been cut to Neutral by ISI. 9) QLogic (QLGC -3.8%) has been cut to Underweight by Morgan Stanley. 10) Linear (LLTC -1%) has been cut to Neutral by Credit Suisse. | Jul. 15, 2013, 10:00 AM
Jul. 5, 2013, 10:38 AM
Argues' Jm Kelleher downgrades Emulex (ELX -2.4%) to Hold, leading shares to give back some of the big Wednesday gains they saw thanks to a Bloomberg report that the company has put itself on sale. Kelleher thinks Emulex's current price could complicate the sale process, and is worried about integration issues. QLogic (QLGC -1.5%) is also lower, but Brocade (BRCD +3.5%) is rallying. SA contributor Fusion Research has made a bull case for Brocade, arguing Ethernet switch growth is offsetting storage switch weakness, and praising the company's improving margins, buybacks, and cost-cutting efforts.| Jul. 5, 2013, 10:38 AM
Jul. 3, 2013, 10:37 AM
Emulex (ELX +14.6%) soars after Bloomberg reports the company has hired Goldman to help find a buyer. Activist investors Elliott Associates and Atlai Capital have been prodding the storage adapter card/switch vendor to sell itself. Archrival QLogic (QLGC +4.7%) has also jumped on the report. Both companies have been struggling to cope with weak server demand.| Jul. 3, 2013, 10:37 AM | 2 Comments
Jun. 17, 2013, 4:27 PM
Jun. 14, 2013, 5:40 PM
May 22, 2013, 12:51 PMAvoid names with hefty PC, server, or printer exposure, says Goldman, lowering its 2013 PC shipment forecast to -6.8% from -3.8% and - pointing at DELL's earnings - warning pockets of price aggression at OEMs could spread. Making the list are sell-rated: HPQ, LXK, and QLGC. H-P reports after the bell. | May 22, 2013, 12:51 PM | 5 Comments
May 17, 2013, 5:46 PM
QLogic (QLGC) CEO Simon Biddiscombe has resigned from his position, as well as from the company's board, to "pursue other opportunities." CFO Jean Hu has been named interim CEO while a search commences for a replacement. Biddiscombe became CEO in Nov. 2010, after serving as CFO for two years. QLogic has had a rough time during Biddiscombe's tenure, as both the company and archrival Emulex contended with soft storage adapter card demand and competitive pressures. Shares -2.2% AH.| May 17, 2013, 5:46 PM
May 3, 2013, 5:25 PMStorage adapter card/switch archrivals Emulex (ELX +2.7%) and QLogic (QLGC -7.4%) went in opposite directions following their March quarter reports. Emulex, which closed yesterday not far from its 52-week low, outperformed after posting a revenue beat and guiding for FQ4 revenue of $118M-$122M and EPS of $0.11-$0.13; the consensus is at $116.7M and $0.16. QLogic got hammered as its FQ4 beat became overshadowed by FQ1 guidance for revenue of $110M-$116M and EPS of $0.11-$0.16, below a consensus of $116.9M and $0.17. On its earnings call, QLogic mentioned the challenges faced by its server OEM clients were hurting adapter card sales. (ELX transcript) | May 3, 2013, 5:25 PM
May 2, 2013, 4:17 PMQLogic (QLGC): FQ4 EPS of $0.17 beats by $0.01. Revenue of $116.9M beats by $1.61M. (PR) | May 2, 2013, 4:17 PM