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Thursday, April 25, 11:57 AM Lam Research (LRCX +6.2%) makes new 52-week highs after beating FQ3 estimates, issuing strong guidance, and announcing a $250M buyback plan (good for buying 3.4% of shares at current levels). On its earnings call, Lam guided for FQ4 revenue of $945M-$1.005B and EPS of of $0.63-$0.77, above a consensus of $914.1M and $0.61. Foundry clients (such as big-spending TSMC) made up 56% of shipments, up from 51% in FQ2, and memory makers 31%, up from 20%. Chip equipment peers are up, taking heart in the numbers posted by Lam (and to a lesser extent) Mattson (MTSN +5.8% - earnings). AMAT +3.6%. KLAC +2.2%. ASML +2.5% (previous). CYMI +2%. RTEC +2.4%. UTEK +1.4%. Comment! [Tech, Earnings, On the Move]
Thursday, April 18, 12:15 PM ASML (ASML +2.5%) rallies after receiving an upgrade to Buy from Deutsche's Kai Jorschelt, who says his firm's re-assessment of the Cymer (CYMI +2%) acquisition "suggests material benefits to ASML such as accelerating EUV progress" and 200-1000bps gross margin improvements for photolithography tools (depending on type). Korschelt also thinks EUV lithography adoption (previous) could yield 2016 EPS of €9 ($11.80). ASML moved higher yesterday following a Q1 EPS beat. Comment! [Tech, On the Move, Quick Ideas]
Thursday, April 11, 10:22 AM An upgrade to Outperform from Cowen puts Lam Research (LRCX +3%) within striking distance of its 52-week high. Some other chip equipment makers are also outperforming a bit, as investors continue to bet the industry will benefit from an arms race between Intel, TSMC, and Samsung. ASML +1.5%. CYMI +1.2%. KLAC +1.1%. MTSN +3%. Comment! [Tech, On the Move]
Thursday, March 28, 8:40 PM Just 3 chip manufacturers - Intel (INTC), Samsung (SSNLF.PK), and TSMC (TSM) - will account for 57% of 2013 chip industry capex, estimates IC insights. That figure, up from 2012's 54%, drives home the extent chip equipment maker fortunes now hinge on the spending plans of a handful of firms, and also the big lead the industry giants have opened up in economies of scale relative to smaller rivals. IC Insights expects total industry capex to grow 2% this year to $59.8B, after falling 11% last year. 1 Comment [Tech]
Friday, February 22, 2:03 PM Chip stocks are outperforming (SOXX +2%) in the wake of Marvell's FQ4 beat and solid guidance, and Texas Instruments' dividend/buyback hike. Also norteworthy: 1) SEMI estimates the book-to-bill for North American chip equipment makers rose to 1.14 in January; that's up from 0.92 in December, and the first reading above 1 since May '12. 2) Taiwanese analog chipmakers posted strong January sales thanks to demand from LED and smartphone clients; the results could be a positive leading indicator. Comment! [Tech, On the Move]
Friday, January 25, 11:39 AM Chip equipment stocks are rallying thanks to strong results and better-than-feared guidance from KLA-Tencor (KLAC +8.8%), and Samsung's forecast for 2013 capex to be similar to 2012 levels. AMAT +2.4%. LRCX +5.6%. ASML +3.2%. CYMI +2.8%. RTEC +1.7%. There had been a lot of speculation Samsung would aggressively slash its capex budget this year. Samsung foundry rival TSMC (TSM -1%) is lower. Comment! [Tech, On the Move]
Thursday, January 17, 4:27 PM A little more on Intel: 2013 capex budget of $12.5B-$13.5B established, up from 2012's $11B (good for chip equipment makers). $1B in shares repurchased, boosting Q4 EPS. Company expects gross margin (GAAP) to be 56%-60% in Q1 and 60% (plus or minus a few %) in 2013. Opex expected to increase 4% in 2013, headcount expected to be flat after rising by 5K in 2012. 2012 software sales totaled $2.4B (+27% Y/Y, boosted by full year of McAfee results). Comment! [Tech, Earnings]
Thursday, January 17, 12:12 PM Down initially following its Q4 report, ASML (ASML +8%) is now rallying strongly. Though revenue was below estimates, EPS was above, and the lithography giant guided for 2013 sales to be "at a similar level to that of 2012" thanks to a 2H demand pickup. That's going over well in light of bleak industry forecasts. ASML sees investments in advanced 14-20nm processes driving demand, though it expects the memory industry to "continue investing at a minimum level" (a positive for SNDK and MU). CYMI +6.2%. KLAC +6.5%. LRCX +3.3%. AMAT +1.8%. (PR) Comment! [Tech, On the Move, Earnings]
Tuesday, December 18, 2012, 2:32 PM Gartner now sees chip equipment sales falling 17.4% in 2012 and 9.7% in 2013. That's easily worse than prior forecasts of -13.3% and -0.8%, and is blamed on soft memory capex (perhaps a positive for MU and SNDK) and slow improvement in capacity utilization rates, which are expected to be under 80% at year's end. Applied Materials (AMAT) has already forecast a 5%-15% drop in industry sales in 2013, and TSMC recently provided slightly disappointing capex guidance. 1 Comment [Tech]
Friday, October 26, 2012, 9:24 AM Cymer (CYMI): Q3 EPS of $0.31 beats by $0.24. Revenue of $131.5M (+2.3% Y/Y) misses by $17M. (PR) Comment! [Earnings, Tech]
Friday, October 26, 2012, 12:10 AM Notable earnings after Friday’s close: CYMI Comment! [Earnings]
Thursday, October 25, 2012, 5:35 PM Notable earnings after Friday’s close: CYMI Comment! [Dividends]
Wednesday, October 17, 2012, 12:45 PM Midday top 10 gainers: CYMI +51%. SIFY +27%. MTG +22%. IGLD +21%. BCOM +21%. TSRI +20%. REDF +14%. BMI +14%. URI +14%. DF +13.
Top 10 Losers: FTNT -20%. APOL -19%. DSTI -14%. CHKP -12%. INVE -11%. OSG -11%. FIRE -10%. STLY -8%. MARK -8%. TXT -7%. Comment! [On the Move]
Wednesday, October 17, 2012, 9:10 AM Premarket gainers: CYMI +63%. CREE +10%. FSLR +6%.
Losers: FTNT -17%. APOL -12%. STJ -6%. CHKP -5%. Comment! [On the Move]
Wednesday, October 17, 2012, 8:30 AM ASML (ASML) agrees to acquire Cymer (CYMI) for €1.95B ($2.5B) in a cash and stock deal that will enable ASML to speed up the development of extreme ultraviolet (EUV) semiconductor lithography technology, which is critical for manufacturing the next generation of microchips. ASML issues new stock to Intel (INTC) and Samsung (SSNLF.PK) representing just over 9% of its share capital to help fund the takeover. (PR) Comment! [Tech, Top Stories, M&A]
Tuesday, October 16, 2012, 4:31 PM More on Intel's Q3: PC division sales -8% Y/Y, server division +6%. PC CPU prices -1% Q/Q and -4% Y/Y. Gross margin was 64.3%, nearly flat Q/Q and better than expected. But it's forecast to fall to 57%-59% in Q4, which suggests pricing/ASP weakness. 2012 capex, previously expected to be at low end of $12.1B-$12.9B range, is now expected to total just $11B-$11.6B (a negative for chip equipment stocks). INTC -1.9% AH. CC at 5PM ET (webcast). (CFO comments - PDF) (PR) 18 Comments [Tech, Earnings]

CYMI Cymer, Inc.

CYMI

Cymer, Inc.