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.
Wed, Jun. 8, 3:00 PM
Thu, May 12, 7:53 AM
Thu, Feb. 18, 6:40 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.
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.
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).
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.
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.
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, 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.
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.
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
Sep. 26, 2014, 5:38 PM
- Intel's (INTC +0.4%) deal to invest up to $1.5B in a Tsinghua Unigroup holding company that owns Spreadtrum and RDA Microelectronics will both help it better penetrate the low-end Chinese smartphone/tablet market and allow it to sidestep antitrust regulators, thinks Rosenblatt Securities. Chinese regulators have taken aim at Qualcomm and Microsoft, among others.
- Rosenblatt doubts the deal will have a big near-term impact on the mobile baseband market, but thinks it could be a long-term negative for MediaTek and Marvell (MRVL -0.7%), both of whom have sizable low-end Chinese shares. Spreadtrum/RDA foundry partner SMIC (SMI +1.4%) is seen as a possible beneficiary.
- Wells Fargo observes Spreadtrum had a 16% Q2 baseband share (#3, behind Qualcomm and MediaTek), and that its Chinese share is much higher. Spreadtrum's 3G baseband share was at 11%.
- On SA, ex-Intel employee Ed McKernan argues a strategy of providing Atom mobile CPU designs to 3rd-party processor vendors (such as Spreadtrum and Rockchip) could help Intel narrow its huge mobile losses. The chip giant is keen on using its manufacturing process lead to bring Atom to newer processes before comparable ARM-based CPUs arrive.
Aug. 15, 2014, 6:27 PM
- With the company dedicating a large chunk of capacity to producing Apple's A8 CPU, TSMC's (NYSE:TSM) Q4 capacity is "almost fully booked," sources tell Digitimes. Clients short on capacity are reportedly being urged to book in advance.
- The site adds a number of clients, including Qualcomm, Himax, and MediaTek, have reported seeing tight supplies. Qualcomm has already struck a deal with China's SMIC (NYSE:SMI) to sidestep TSMC's supply constraints. UMC, which has been ceding share to TSMC in recent years, could also benefit.
Semiconductor Manufacturing International Corp. is an investment holding company. The company through its subsidiaries engages in computer-aided design, manufacturing, testing, packaging, and trading of integrated circuits and other semiconductor services, as well as designing and manufacturing... More
Industry: Semiconductor - Integrated Circuits
Country: Hong Kong
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