Semiconductor Manufacturing International Corporation(SMI)- NYSE
  • Wed, Aug. 31, 3:00 PM
    | Wed, Aug. 31, 3:00 PM
  • Wed, Aug. 10, 9:11 AM
    • Semiconductor Manufacturing (NYSE:SMI): Q2 EPADS of $0.11 beats by $0.07.
    • Revenue of $690.22M (+26.3% Y/Y) beats by $22.37M.
    • Press Release
    | Wed, Aug. 10, 9:11 AM
  • Fri, Jun. 24, 11:27 AM
    • Semiconductor Manufacturing International Corp. (SMI -2.4%) acquires a 70% stake in Avezzano, Italy-based LFoundry for €49M. After the transaction, current owners LFoundry Europe GmbH and Marsica Innovation S.p.A. will each own 15%.
    • The deal will boost SMIC's overall capacity from 302.6K 8-inch wafers per month to 342.6K per month.
    • LFoundry focuses on automotive, security and industrial-related applications including CIS, smart power, touch display driver ICs and embedded memory.
    • Management will host a conference call on Monday, June 27 at 8:30 am Shanghai time (Sunday, June 26 at 8:30 pm ET) to discuss the deal.
    | Fri, Jun. 24, 11:27 AM
  • Wed, Jun. 8, 3:00 PM
    | Wed, Jun. 8, 3:00 PM
  • Thu, May 12, 7:53 AM
    • Semiconductor Manufacturing (NYSE:SMI): Q1 Net income of $61.40M.
    • Revenue of $634.3M (+24.4% Y/Y) beats by $10.73M.
    • Press Release
    | Thu, May 12, 7:53 AM
  • Thu, Feb. 18, 6:40 AM
    • Semiconductor Manufacturing (NYSE:SMI): Q4 net income of $38.6M
    • Revenue of $610.1M (+25.6% Y/Y) beats by $14.6M.
    | Thu, Feb. 18, 6:40 AM
  • Nov. 12, 2015, 9:17 AM
    | Nov. 12, 2015, 9:17 AM
  • Nov. 10, 2015, 6:18 AM
    • Semiconductor Manufacturing (NYSE:SMI): Q3 EPADS of $0.10 beats by $0.04.
    • Revenue of $569.85M (+9.2% Y/Y) beats by $12.35M.
    | Nov. 10, 2015, 6:18 AM
  • Aug. 11, 2015, 6:11 AM
    • Semiconductor Manufacturing (NYSE:SMI): Q2 EPS of $0.10 beats by $0.05.
    • Revenue of $546.62M (+6.9% Y/Y) beats by $21.04M.
    | Aug. 11, 2015, 6:11 AM
  • Jun. 24, 2015, 3:59 AM
    • Qualcomm (NASDAQ:QCOM) has struck a deal to help China's biggest semiconductor foundry upgrade its technology, as it looks to boost its standing in the country following a record $975M antitrust fine.
    • Under terms of the agreement, SMIC (NYSE:SMI) will form a joint venture with Qualcomm, Huawei Technologies and Belgian chip research center Imec to develop advanced 14-nanometer chips.
    • Qualcomm and SMIC collaborated last year on the production of 28-nanometer chips (the smaller the number, the more advanced the chip).
    | Jun. 24, 2015, 3:59 AM | 3 Comments
  • May 7, 2015, 8:36 AM
    • Semiconductor Manufacturing (NYSE:SMI): Q1 net income of $55.5M
    • Revenue of $509.8M (+13.0% Y/Y) beats by $4.35M.
    | May 7, 2015, 8:36 AM
  • Apr. 13, 2015, 5:31 PM
    • Citing limited upside and a high valuation, BofA/Merrill has downgraded SMIC (NYSE:SMI) to Underperform after the close. Its target remains at $4.97.
    • The Chinese foundry closed today near a 52-week high of $6.06.
    | Apr. 13, 2015, 5:31 PM
  • Feb. 9, 2015, 5:29 PM
    • While Qualcomm's (NASDAQ:QCOM) Chinese settlement calls for a 5% royalty rate on multimode 3G/4G devices and a 3.5% rate on other 4G hardware (for "3G and 4G essential Chinese patents"), the rates will be derived from a royalty base of 65% of a device's net selling price.
    • Qualcomm's royalty rates are typically derived from an OEM's full sales price. Apple, whose royalty payments are based on the hardware price charged to the company by its contract manufacturers, is a notable exception.
    • Existing Chinese licensees will have "an opportunity to elect to take the new [license] terms for sales of branded devices for use in China as of January 1, 2015."
    • As part of the settlement, Qualcomm has agreed to expand its existing partnership with Chinese foundry SMIC (NYSE:SMI). Qualcomm struck a deal with SMIC last summer covering the production of 28nm Snapdragon processors.
    • TSMC (NYSE:TSM), Qualcomm's primary foundry partner for many years, could see its sales to Qualcomm for older processors (where TSMC's manufacturing process lead relative to SMIC doesn't factor) affected by the SMIC provision.
    • QCOM now +3% AH. TSM -0.5%
    | Feb. 9, 2015, 5:29 PM | 14 Comments
  • Feb. 9, 2015, 7:52 AM
    • Semiconductor Manufacturing (NYSE:SMI): Q4 net income of $28.4M
    • Revenue of $485.9M (-1.2% Y/Y) misses by $2.03M.
    | Feb. 9, 2015, 7:52 AM
  • Nov. 5, 2014, 6:25 AM
    • Semiconductor Manufacturing (NYSE:SMI): Q3 profit of $47.50M.
    • Revenue of $521.6M (-2.4% Y/Y) misses by $6.38M.
    | Nov. 5, 2014, 6:25 AM
  • Oct. 10, 2014, 1:42 PM
    • Following Microchip's warning and related prediction of a chip industry correction, Goldman's James Covello thinks there's 15%-20% downside in industry names.
    • Covello, who lowered his industry view to Cautious in August: "The last time Microchip negatively preannounced was October 15, 2012 (3% sales miss). Between October 1 and December 31, Street 2013 sales estimates for the Semi group were revised down 6% on average."
    • He adds several datapoints suggest the industry has been overheating. Among them: Semi revenue growth has outpaced end-market growth, and supply chain inventory dollars rose 3% more than their 3-year average in Q2.
    • "Nobody will be spared," predicts Hedgeye's Craig Berger. Benchmark's Gary Mobley observes 5 of the 6 chip stocks to have made Q3 pre-announcements have thus done so to the downside.
    • Worth noting: Mobile chipmaker Silicon Motion (SIMO -8.9%) is the one chipmaker to have positively pre-announced. It might not be a coincidence that Microchip has relatively low mobile exposure.
    • Observing U.S. macro data remains positive even as China and Europe soften, Longbow's JoAnne Feeney remains bullish long-term on select names. However, she has cut her short-term rating on Linear (LLTC -3.8%) to Sell, and removed IDT (IDTI -7.1%) from her trading long list.
    • In addition to the names previously mentioned, the following chip stocks are seeing steep losses: AMD -5.1%. FCS -13.6%. NXPI -11.2%. CODE -11%. LSCC -9.6%. SIMG -8.1%. IPHI -7.7%. ISIL -9.5%. CY -6.9%. RMBS -7.1%. QUIK -5.7%. SQNS -5.1%. IMOS -6.5%.
    • Foundries and contract manufacturers are also selling off: TSM -3.9%. UMC -2%. SMI -2.4%. SANM -11.7%. FLEX -6.8%. JBL -4%.
    • Chip ETFs: SOXX, SMH, XSD, PSI, SOXL, USD, SOXS, SSG
    | Oct. 10, 2014, 1:42 PM | 44 Comments