Tue, Sep. 8, 3:25 PM
- The Philadelphia Semi Index (SOXX +3.9%) has risen to its highest levels since mid-August on a day the Nasdaq is posting a 2.3% gain.
- Likely helping out: Microchip (MCHP +8.4%), still often seen as an industry bellwether (though its commentary accompanying last fall's warning sparked criticism), has adjusted its FQ2 (calendar Q3) revenue and EPS guidance to $545M-$563M ($554M midpoint) and $0.60-$0.66 from a prior $$532M-$569M ($550.5M midpoint) and $0.58-$0.66. The outlook comes after many chipmakers (Microchip included) offered below-consensus calendar Q3 guidance amid an inventory correction, weak PC demand, and slowing Chinese smartphone growth.
- Microchip's core ops are said to be tracking in-line with prior expectations, and recently-acquired Micrel's above expectations. The 8.6M shares issued in the Micrel deal have been repurchased.
- Also: Various Taiwanese chipmakers and supply chain firms have reported August sales. Chip packaging/testing firms ASE (ASX +5.9%) and Siliconware (SPIL +4.1%) respectively reported sales were up 5.8% and 5.7% M/M, and up 9.5% and down 4.2% Y/Y.
- Big gainers include Microchip peers NXP (NXPI +6.8%), Freescale (FSL +5.8%), Silicon Labs (SLAB +4.4%), and Cypress (CY +4.4%). Others include Avago (AVGO +5.8%), Xilinx (XLNX +5.7%), Cavium (CAVM +5.5%), Analog Devices (ADI +6.3%), Synaptics (SYNA +5.4%), Linear (LLTC +4.6%), Cirrus Logic (CRUS +4.7%), IDT (IDTI +4.6%), Sigma Designs (SIGM +4.9%), and chip equipment maker Axcelis (ACLS +8%).
- SanDisk, ON Semi, and Silicon Motion are benefiting from upgrades/bullish coverage. Apple holds its iPhone event at 1PM ET tomorrow.
- Chip ETFs: SMH, XSD, PSI, SOXL, USD, SOXS, SSG
Tue, Aug. 4, 10:06 AM
- IDT (NASDAQ:IDTI) followed up its FQ1 beat by guiding on its earnings call (transcript) for FQ2 revenue of $162M-$170M and EPS of $0.30-$0.32, favorable at the midpoints to a consensus of $164.8M and $0.30 and much better than feared given the outlooks provided by many peers.
- The company also noted wireless charging IC growth fueled a 57% Q/Q increase in consumer market revenue (now 14% of total revenue), and that it has landed receiver IC design wins at LG (previously announced) and with an unnamed tier-1 smartphone OEM for whom shipments will start late in FQ2. IDT adds the tier-1 OEM will implement the programmable power-share technology IDT unveiled at the Mobile World Congress.
- HPC/data center revenue (46% of revenue) rose 5.4% Q/Q. IDT asserts it remains "the clear leader" in memory interface ICs, and is beginning to produce revenue for new programmable power management ICs aimed at high-performance storage applications.
- Telecom infrastructure (40% of revenue) was soft, with sales falling 12.5% Q/Q. Like others, IDT reports seeing weak Chinese mobile infrastructure demand, but is optimistic the worst is behind it. "We believe the demand situation in infrastructure has stabilized for our products ... and that we will continue to outperform the overall market."
- FQ1 results, details
Mon, Aug. 3, 4:28 PM
- With many chipmakers having provided soft calendar Q2 reports, and a number of companies (chipmakers or otherwise) with strong data center exposure having a rough time, IDT's (NASDAQ:IDTI) FQ1 beat is going over well.
- IDT attributes its 27% Y/Y sales growth to HPC and wireless charging-related sales. Gross margin (non-GAAP) was 62.7%, -20 bps Q/Q and +80 bps Y/Y. Operating expenses rose only 8% Y/Y to $61.9M. IDT ended FQ1 with $551M in cash/short-term investments, and no debt.
- Shares have risen to $20.00 AH. CC at 4:30PM ET (webcast), guidance should be provided.
- FQ1 results, PR
Mon, Aug. 3, 4:07 PM
Sun, Aug. 2, 5:35 PM
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Tue, May 5, 2:35 PM
- In addition to beating FQ4 estimates (more on EPS than revenue), IDT (NASDAQ:IDTI) guided on its CC (transcript) for FQ1 revenue of $160M (+/- $4M), slightly above a $159.7M consensus at the midpoint. That's much better than the calendar Q2 guidance provided by many peers.
- In-line with comments from Altera, Xilinx, Texas Instruments, and others, IDT noted mobile infrastructure end-market demand weakened substantially, particularly in China and North America; total telecom chip sales fell 7% Q/Q and were 46% of revenue.
- HPC/data center chip demand was stronger, rising 28% Q/Q to make up 45% of revenue (up from FQ3's 37%). Chip sales for DDR3/DDR4 DRAM modules (clock drivers, data buffer ICs, temperature sensors) were a strong point, as were sales of Serial RapidIO bridging/switching chips.
- Consumer chip sales, including wireless charging ICs, fell 15% Q/Q and were 9% of revenue. IDT blames the Q/Q drop on "a major customer push-out," and says it's confident the sales will be recovered. The company notes IKEA (integrating wireless charging into tables/lamps) has been added as a client.
- FQ4 results, PR
Mon, May 4, 5:55 PM
- Integrated Device Technology (NASDAQ:IDTI) has moved up 0.4% after hours after beating even raised expectations for its fiscal Q4 revenue, including record results in High Performance Computing/Data Center.
- The company cited design wins across its business units and its work growing momentum in new business around RF and wireless charging.
- R&D expense (non-GAAP) was $29.7M, sequentially flat and up slightly from a year-ago $28.6M.
- Cash and equivalents stood at $116.95M, compared to a year-ago $91.2M. The board recently increased buyback authorization to $300M, replacing the existing one that had $27M remaining.
- Shares had declined 2.1% today ahead of the release.
- Press release
Mon, May 4, 4:07 PM
Sun, May 3, 5:35 PM
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Mon, Feb. 2, 5:47 PM
- IDT (NASDAQ:IDTI) has guided on its FQ3 CC for FQ4 revenue of $154M-$162M, well above a $141.9M consensus. Consumer, computing, and telecom chip sales are respectively expected to rise 8%, 6%, and 3% during the seasonally weak quarter.
- CEO Greg Waters: "We have become the clear leader in the latest generation of DDR4 memory interface, and our [Serial RapidIO] business is benefiting from the continued deployment of 4G LTE base stations on a global basis." He asserts IDT gained share "at key customers across all of our key business lines" in FQ3. No "meaningful contribution" was provided by IDT's wireless charging IC business, which is expected to ramp in 2015.
- Gross margin was 61.5%, up from 61.2% in FQ2 and down from 62.4% a year ago. R&D spend rose by $400K Y/Y to $29.7M, and SG&A spend by $2.8M to $23.9M.
- Shares are up to $19.92 in AH trading. The 52-week high is $20.41.
- FQ3 results, PR
Mon, Feb. 2, 4:06 PM
Sun, Feb. 1, 5:35 PM
Oct. 27, 2014, 6:58 PM
Oct. 27, 2014, 4:10 PM
Oct. 26, 2014, 5:35 PM
Jul. 29, 2014, 11:44 AM
- IDT's (NASDAQ:IDTI) RapidIO, timing IC, and RF component sales are benefiting from the global 4G infrastructure buildout, the company states while discussing its FQ1 numbers. Ericsson and Nokia have already reported seeing strong Q2 demand for 4G base stations.
- Meanwhile, IDT's memory interface IC sales are benefiting from the transition to DDR4 from DDR3, and wireless power IC demand is boosting consumer sales. An IDT wireless power receiver has been designed into LG's flagship G3 phone.
- FQ1 gross margin was 61.9%, up from 61.1% in FQ4 and 58.6% a year ago.
- IDT guided on its CC (transcript) for FQ2 revenue of $130M-$136M and EPS of $0.17-$0.19, in-line with a consensus of $132.6M and $0.18. GM is expected to come in at 61.2% (+/- 0.5%).
IDTI vs. ETF Alternatives
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