Semtech CorporationNASDAQ
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  • Wed, Oct. 5, 5:35 PM
    | Wed, Oct. 5, 5:35 PM
  • Wed, Aug. 31, 4:31 PM
    • Semtech (NASDAQ:SMTC): FQ2 EPS of $0.35 beats by $0.02.
    • Revenue of $135.9M (+8.1% Y/Y) beats by $0.63M.
    • Press Release
    | Wed, Aug. 31, 4:31 PM
  • Tue, Aug. 30, 5:35 PM
  • Mon, Jun. 6, 10:53 AM
    • Rambus (RMBS +0.7%) is acquiring analog/mixed-signal chipmaker Semtech's (SMTC +0.6%) Snowbush IP serial link IP assets for $32.5M up-front plus "additional payments based upon specific new product sales through the end of 2022."
    • Rambus says the purchase will complement its SerDes serial link IP portfolio, which has been licensed by IBM and others. CEO Ron Black: "By adding Snowbush IP into our portfolio, we are bolstering our SerDes business and accelerating our product position. This acquisition, along with our memory IP cores and chip business, will further build upon the existing product opportunities and expand our foundry partnerships."
    • The deal follows Rambus' $92.5M purchase of Smart Card Software, a U.K.-based developer of mobile payments and smart ticketing technologies.
    | Mon, Jun. 6, 10:53 AM
  • Wed, Jun. 1, 4:32 PM
    • Semtech (NASDAQ:SMTC): FQ1 EPS of $0.30 beats by $0.03.
    • Revenue of $131.1M (+0.8% Y/Y) beats by $2.72M.
    • Press Release
    | Wed, Jun. 1, 4:32 PM
  • Tue, May 31, 5:35 PM
    | Tue, May 31, 5:35 PM | 2 Comments
  • Wed, Mar. 2, 5:43 PM
    | Wed, Mar. 2, 5:43 PM | 3 Comments
  • Wed, Mar. 2, 4:35 PM
    • Semtech (NASDAQ:SMTC): Q4 EPS of $0.17 beats by $0.01.
    • Revenue of $118.6M (-9.0% Y/Y) beats by $2.5M.
    | Wed, Mar. 2, 4:35 PM
  • Tue, Mar. 1, 5:35 PM
  • Tue, Feb. 2, 2:42 PM
    • On a day the Nasdaq is down 2.1%, many chip stocks are seeing outsized losses (SOXX -3.1%) after IDT (IDTI -28.3%), a mixed-signal chipmaker selling into the server, networking/telecom infrastructure, and wireless charging markets (among others), offered soft FQ4 (calendar Q1) guidance to go with an FQ3 sales beat.
    • Major decliners include diversified European chipmakers NXP (NXPI -4.7%) and STMicroelectronics (STM -7%), microcontroller maker Cypress Semi (CY -6.9%), RF chipmaker Qorvo (QRVO -6.4%), motion sensor developer InvenSense (INVN -6%), chip packaging/testing firm Amkor (AMKR -6.1%), and analog/mixed-signal chipmakers MagnaChip (MX -9.8%), Inphi (IPHI -9.1%), Silicon Labs (SLAB -5%), Microsemi (MSCC -4.4%), Semtech (SMTC -5.4%), and Power Integrations (POWI -5.5%). Previously covered: Pixelworks, ON Semi.
    • IDT reported Chinese telecom infrastructure demand is "normalizing to slightly less than the peak levels seen in late calendar 2014," that data center customer growth rates have slowed slightly, and that consumer demand has been affected by increased "customer smartphone shipment volatility." Both Apple and Samsung's sales have been under pressure.
    • BofA/Merrill has downgraded IDT to Neutral, while Wedbush's Betsy Van Hees has gone contrarian and upgraded to Outperform. Van Hees argues IDT is still positioned to see strong FY17 growth, aided by the ramp of LRDIMM DRAM chipsets for Intel's Broadwell server CPU launch and the ramp of wireless charging IC programs at tier-1 OEMs.
    | Tue, Feb. 2, 2:42 PM | 5 Comments
  • Nov. 18, 2015, 5:44 PM
    | Nov. 18, 2015, 5:44 PM | 5 Comments
  • Nov. 18, 2015, 4:36 PM
    • Semtech (NASDAQ:SMTC): Q3 EPS of $0.19 misses by $0.05.
    • Revenue of $115.81M (-22.2% Y/Y) beats by $0.77M.
    | Nov. 18, 2015, 4:36 PM
  • Nov. 17, 2015, 5:35 PM
  • Nov. 16, 2015, 11:20 AM
    • B. Riley has upgraded Semtech (NASDAQ:SMTC) to Buy, and set a $24 target.
    • The analog/mixed-signal chipmaker, pressured by share loss and declining Samsung sales, remains down 32% YTD. Shares trade for 14x an FY17 (ends Jan. '17) EPS estimate of $1.36.
    | Nov. 16, 2015, 11:20 AM
  • Nov. 6, 2015, 4:47 PM
    • The Philadelphia Semi Index (SOXX +2.6%) rallied after Nvidia (NVDA +13.9%) beat estimates and provided strong guidance (gaming GPUs led the way), Skyworks (SWKS +7.1%) offered good calendar Q4 guidance and RF chip peer Qorvo (QRVO +23.2%) posted better-than-feared results and guidance. The Nasdaq rose just 0.4%.
    • Also: Analog/Ethernet chipmaker Microsemi (MSCC +4.9%) beat calendar Q3 revenue estimates and offered solid Q4 guidance: Revenue of $325M-$329M and EPS of $0.70-$0.74 vs. a consensus of $323.5M and $0.72.
    • Big gainers today included specialty foundry/Skyworks supplier TowerJazz (TSEM +6%), smart TV/home automation chipmaker Sigma Designs (SIGM +16.6%), telecom/networking IC provider InPhi (IPHI +6.7%), touch controller/LCD driver supplier Synaptics (SYNA +6.1%), FPGA maker Lattice Semi (LSCC +6.6%), network processor vendor Cavium (CAVM +5.6%), DSP core IP provider CEVA (CEVA +7.2%), and analog/mixed-signal chipmakers MagnaChip (MX +4.6%) and Semtech (SMTC +5.4%).
    • On its earnings call (transcript), Qorvo mentioned Chinese smartphone demand (a recent headwind) is "seeing a bit of a rebound," and that the launch of 5-mode and 6-mode Chinese 4G phones is boosting RF chip content. Qorvo also thinks Chinese base station activity (an issue for many telecom chip/component firms) bottomed in Q3, but cautions a mobile infrastructure recovery is expected to be gradual.
    • Microsemi stated on its call (transcript) broadband gateway chip sales were a Q3 strong point, that telecom infrastructure began to improve, and that defense/aerospace sales are expected to rebound in 2016. Industrial demand remained soft in Q3.
    • MKM's Ian Ing has upgraded Nvidia to Buy, calling shares "expensive and worth it." Ing: "We see a sustainable growth trajectory, given [Nvidia's] positioning to lead in significant paradigm changes favoring more valuable semiconductor solutions: automotive evolving from driver assist to autonomous driving, gaming transitioning to virtual reality and professional or social E-sports, and cloud computing increasingly using GPU accelerators for machine learning."
    • Last week: Chip stocks sell off after NXP, STMicro, others issue soft guidance
    | Nov. 6, 2015, 4:47 PM | 1 Comment
  • Oct. 14, 2015, 3:10 PM
    • Though still well below its May/June highs, the Philadelphia Semi Index (SOXX +2.9%) has reached its highest levels since August following calendar Q3 results from Intel, Linear Technology, and ASML, and reports SanDisk and Fairchild are in buyout talks with potential suitors (respectively Micron/Western Digital and ON Semi/Infineon). The Nasdaq is down slightly.
    • Intel (up 1.5%) beat Q3 estimates and provided in-line Q4 guidance. ASP strength and signs of stabilizing PC demand are overshadowing a full-year guidance cut for Intel's server CPU division, Linear (up 4.6%) posted mixed FQ1 results and issued above-consensus FQ2 guidance.
    • Lithography equipment giant ASML (ASML -0.4%) beat Q3 EPS estimates and posted nearly in-line sales, but also guided for Q4 revenue of €1.4B ($1.61B), below a $1.77B consensus. Soft demand from foundry clients is blamed. Credit Suisse and Cowen argue ASML is hurt by a lack of exposure to the 3D NAND flash ramp.
    • Aside from Linear and companies associated with the SanDisk/Fairchild reports, chipmakers seeing big gains include NXP (NXPI +4.6%), Freescale (FSL +3.6%), Himax (HIMX +4.2%), Qorvo (QRVO +4.9%), Cypress (CY +6.9%), AppliedMicro (AMCC +4.9%), and Linear/Fairchild peers Semtech (SMTC +4.7%), MangaChip (MX +4.6%), Diodes (DIOD +4%), and Power Integrations (POWI +4.2%). Chip packaging/testing firms ChipMOS (IMOS +3.8%) and Amkor (AMKR +5.9%) are also rallying.
    • With much already priced in, chip equipment makers are also doing well, in spite of ASML's guidance, a fresh $400M cut to Intel's 2015 capex budget (to $7.3B), and a Gartner forecast for global wafer fab equipment spend to drop 0.5% in 2015 and 2.5% in 2016 before returning to growth.
    • Chip equipment gainers include Lam Research (LRCX +3.6%), KLA-Tencor (KLAC +1.6%), Kulicke & Soffa (KLIC +3.3%), and Teradyne (TER +1.9%). Possibly helping: Intel stated on its earnings call its capex will rise in 2016 from 2015's depressed levels.
    | Oct. 14, 2015, 3:10 PM | 4 Comments