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Entropic Communications, Inc. (ENTR)

  • Wed, Apr. 22, 4:57 PM
    • Entropic Communications (NASDAQ:ENTR): Q1 EPS of $0.06 beats by $0.02.
    • Revenue of $48.7M (+14.3% Y/Y) beats by $3.45M.
    • Shares +3.9%.
    • Press Release
    | Wed, Apr. 22, 4:57 PM | Comment!
  • Wed, Feb. 4, 9:13 AM
    | Wed, Feb. 4, 9:13 AM | 11 Comments
  • Tue, Feb. 3, 5:37 PM
    • Top gainers, as of 5:15 p.m.: ENTR +7.8%. MXL +5.6%. CRMD +5.0%. DWTI +4.7%. TTWO +4.6%.
    • Top losers, as of 5:15 p.m.: MYGN -15.4%. PLNR -8.5%. BC -8.4%. CMG -6.9%. WTW -5.8%.
    | Tue, Feb. 3, 5:37 PM | 3 Comments
  • Tue, Feb. 3, 4:45 PM
    • Broadband/consumer electronics RF chipmaker MaxLinear (NYSE:MXL) is acquiring satellite/home networking chipmaker Entropic (NASDAQ:ENTR) for $287M ($181M net of cash). The price is equal to $3.01/share, representing an 11% premium to Entropic's Tuesday close.
    • Entropic shareholders will get $1.20/share in cash and 0.22 MaxLinear shares for each share they own. They'll own 35% of the post-merger company.
    • MaxLinear: "The acquisition will add significant scale to MaxLinear's analog/mixed-signal business, expanding its addressable market and enhancing the strategic value of MaxLinear's offerings ... MaxLinear sees immediate cross-selling opportunities and longer-term platform integration opportunities with Entropic's leading MoCA [home networking] technology."
    • The company also highlights Entropic's portfolio of 1.5K patents and patent applications. $20M/year in cost synergies are expected in year 1; the deal is expected to close in Q2.
    • Separately, MaxLinear is affirming its Q4 revenue guidance (earnings arrive on Feb. 9), and guiding for FQ1 revenue of $34M-$35M, above a $33.7M consensus. Entropic, which has been struggling in recent quarters, has just posted a slight Q4 beat and guided for Q1 revenue of $45M-$46M, above a $40M consensus.
    • MXL +3.6% AH. The chip industry has been rapidly consolidating over the last 18 months.
    | Tue, Feb. 3, 4:45 PM | 1 Comment
  • Tue, Feb. 3, 4:30 PM
    • Entropic Communications (NASDAQ:ENTR): Q4 EPS of -$0.06 beats by $0.01.
    • Revenue of $42.58M (-26.5% Y/Y) beats by $0.11M.
    • Shares -0.38%.
    • Press Release
    | Tue, Feb. 3, 4:30 PM | Comment!
  • Mon, Feb. 2, 5:35 PM
  • Wed, Jan. 7, 4:32 PM
    • Taiwanese ODM Wistron is launching a Ethernet-to-coax USB adapter for DirecTV users that relies on an Entropic (NASDAQ:ENTR) MoCA home networking chip. The product enables 4K streaming to any DirecTV-capable set without the need for a set-top.
    • Entropic, which has seen a lot of bad news over the last couple of years, closed sharply higher today. Yesterday (day 1 of CES), the company unveiled a low-power MoCA 2.0 USB adapter reference design, and a partnership with Qualcomm's Atheros (Wi-Fi/connectivity chip) unit to create a home networking reference design involving both Wi-Fi and MoCA 2.0.
    | Wed, Jan. 7, 4:32 PM | Comment!
  • Dec. 16, 2014, 1:19 PM
    • Broadcom (BRCM -0.8%) has launched a solution for satellite outdoor units (ODUs) declared to be the first such offering to integrate GPS connectivity.
    • The solution pairs Broadcom's BCM4551 satellite transmission IC with its BCM4771 GPS receiver IC. The 4551 is uses an advanced 28nm manufacturing process, and the 4771 integrates a baseband processor and CPU with RF circuitry; Broadcom claims an industry-leading circuit board footprint for the latter.
    • Hard-luck rival Entropic (ENTR -9.1%) has plunged following the announcement. Entropic is only a month removed from announcing it's cutting 40% of its workforce, and plans to end set-top SoC product development after struggling to compete against Broadcom and STMicroelectronics.
    | Dec. 16, 2014, 1:19 PM | Comment!
  • Dec. 3, 2014, 1:48 PM
    • The Philadelphia Semi Index (SOXX +1.7%) is making fresh highs after Microchip (MCHP +4.1%) slightly upped its calendar Q4 guidance, and stated it continues to "see an improvement in our bookings and billings since our earnings call on October 30, 2014."
    • Chip stocks had also jumped following that earnings call, during which Microchip said it believed the inventory correction that triggered an Oct. 9 warning (and a major chip stock selloff) was mostly over. While a slew of chipmakers provided soft Q4 guidance after Microchip's warning, fears of a major correction didn't pan out.
    • The group outperformed a bit yesterday after Cypress (CY +2.9%) announced it's merging with Spansion (CODE +2.5%), continuing the chip industry's consolidation wave. Several firms have upgraded Cypress and/or Spansion in response, praising the deal's cost synergies.
    • Notable gainers include not only chipmakers, but also chip equipment, test/assembly, and IP licensing firms: ARMH +3.8%. AMBA +3%. MX +9%. MXIM +4.2%. AMCC +3.5%. ADI +3.1%. SIMG +3.7%. AMKR +4.2%. SPIL +3.3%. SYNA +2.7%. ATML +3.7%. ENTR +3.8%. AMAT +2.7%. KLAC +2.5%.
    • Last week: Chip stocks rally after ADI's earnings
    | Dec. 3, 2014, 1:48 PM | 10 Comments
  • Nov. 10, 2014, 8:03 AM
    • Along with its Q3 results, Entropic (NASDAQ:ENTR) announces CEO Patrick Henry is resigning, and also leaving the board. He's being replaced by Ted Tewksbury, a director and once the CEO of fellow chipmaker IDT.
    • Entropic is ending product development for set-top SoCs, a market where it has had a tough time competing against Broadcom and STMicroelectronics. The company will now focus on its MoCA (home networking), satellite outdoor unit, and broadband modem IC businesses.
    • As part of its strategy shift, Entropic is cutting 200 jobs (40% of its workforce). It expects $9M-$11M in restructuring charges, and $44M/year in cost savings. Facilities in Shanghai, Belfast, and San Jose will be closed.
    • The set-top business is still expected to "contribute meaningful revenue for the next three years or more," due to existing products/design wins. Entropic's exploration of "strategic alternatives" (previous) continues.
    • Q3 results, PR
    | Nov. 10, 2014, 8:03 AM | 2 Comments
  • Nov. 10, 2014, 7:08 AM
    • Entropic Communications (NASDAQ:ENTR): Q3 EPS of -$0.11 beats by $0.03.
    • Revenue of $43.18M (-23.4% Y/Y) misses by $1.96M.
    • Press Release
    | Nov. 10, 2014, 7:08 AM | Comment!
  • Nov. 9, 2014, 5:30 PM
  • Sep. 16, 2014, 2:57 PM
    | Sep. 16, 2014, 2:57 PM | Comment!
  • Sep. 16, 2014, 9:24 AM
    • The Board intends to consider a wide range of possibilities and Barclays has been retained to assist.
    • The announcement comes as the company - citing less seasonal strength than expected in the DBS and ODU businesses - cuts Q3 guidance, now forecasting revenue of $43M, and a non-GAAP loss of about $0.15 per share.
    • Source: Press Release
    • ENTR +7.7% premarket
    | Sep. 16, 2014, 9:24 AM | Comment!
  • Sep. 16, 2014, 9:20 AM
    | Sep. 16, 2014, 9:20 AM | Comment!
  • Jul. 31, 2014, 2:27 PM
    • Though Entropic's (NASDAQ:ENTR) Q2 revenue was nearly in-line, the chipmaker guided on its CC (transcript) for Q3 revenue of $49M-$51M, -11% Y/Y at the midpoint and below a $51.9M consensus.
    • EPS guidance of -$0.11 is slightly above a -$0.12 consensus thanks to expected gross margin improvement (53%-54% in Q3 vs. 52.5% in Q2)
    • Entropic, which announced huge job cuts last month, expects chip sales for outdoor satellite units (ODUs) to get a lift from seasonality, but adds this will be offset by weak sales of "legacy" set-top SoCs.
    • Q2 results were pressured by seasonal weakness in satellite ODU chip and set-top SoC sales, and a drop in sales of MoCA home networking chips for Verizon deployments.
    • Entropic claims strong interest in a next-gen MoCA solution from multiple OEMs, and says it's working with satellite providers to design new channel stacking switches (CSS - part of Entropic's ODU offerings) into next-gen hardware.
    • Q2 results, PR
    | Jul. 31, 2014, 2:27 PM | Comment!
ENTR vs. ETF Alternatives
Company Description
Entropic Communications Inc provides semiconductor solutions. The Company transform how traditional HDTV broadcast and Internet protocol, or IP,-based streaming video content is distributed throughout the homes.