Oct. 13, 2014, 9:58 AM
- Pac Crest has downgraded analog/mixed-signal IC vendors Freescale (FSL -2.9%), ON Semi (ONNN -5.5%), and Silicon Labs (SLAB -3.4%) following Microchip's calendar Q3 warning. In-line with Microchip's cautious remarks, the firm cites evidence of a distributor inventory correction and weak Chinese demand.
- All three names sold off on Friday on account of Microchip, with Freescale and ON registering double-digit declines.
- Meanwhile, JPMorgan has downgraded European chipmakers STMicroelectronics (STM -3.4%) and Infineon (OTCPK:IFNNF) to Neutral. The firm is worried about the impact of German and Chinese macro trends.
Sep. 2, 2014, 3:48 PM
- Home Depot (HD -2.4%) confirms it's looking into "unusual activity" as it works with law enforcement officials in relation to a possible loss of customer credit card and debit card information.
- Early reports indicate the breach occurred in late April and could involve over 2K Home Depot stores.
- Shares of Home Depot have recouped a bit from their initial slide after the breach report broke. Some retail analysts called the peeling off of $3.5B in market cap somewhat overdone.
- What to watch: If the breach is as large as some banks are reporting, an increased push by the industry toward the adoption of smart card technology could be on the way.
- Related EMV stocks: PAY, NCR, MA, V, OTCQX:IFNNY, NXPI,
Aug. 20, 2014, 12:18 PM
- Infineon (OTCPK:IFNNF) is paying $40/share, or $3B, in cash to acquire International Rectifier (NYSE:IRF). The price represents a 51% premium to Tuesday's close, and is well above the ~$2B reported by Bloomberg.
- Infineon is paying ~$2.4B net of cash for the analog chipmaker. The deal will be financed with a mixture of existing cash and credit facilities, and is expected to close in late 2014 or early 2015.
- The companies declare IRF's gallium nitride (GaN) power management discrete components and ICs complement Infineon's own GaN offerings, and (echoing arguments made for recent chip deals) that the combined company will benefit from greater R&D scale and manufacturing/operational synergies.
- IRF is now up 47.4% to $39.16. The company has posted its FQ4 report in tandem with the Infineon announcement.
Aug. 20, 2014, 10:15 AM
- Bloomberg reports Infineon (OTCPK:IFNNF) "nearing an agreement to acquire a U.S.- based semiconductor company for about $2 billion," and that a deal could be announced as soon as today.
- No word on whom Infineon is looking to buy. Bloomberg notes it reported last month analog/mixed-signal chipmakers Fairchild (FCS +5.6%), Power Integrations (POWI +11.3%), and Semtech (SMTC +8%) are considered M&A targets, as the chip industry continues to consolidate.
- Shares of all three companies are up sharply, as are those of peers International Rectifier (IRF +5.8%) and Intersil (ISIL +4.4%). FCS and IRF are currently worth $2B; POWI is worth $1.9B; ISIL is worth $1.8B; and SMTC is worth $1.7B.
- "[Infineon] would like to build a stronger presence in power management," says Liberum Capital's Janardan Menon. He adds the market has "high barriers to entry and strong growth prospects," a fact that also hasn't been lost on Texas Instruments and other industry players.
Jun. 26, 2012, 11:52 AMInfineon (IFNNY.PK) provides the latest evidence the chip industry's recovery from its inventory correction is losing momentum (I, II, III): the company warns it expects June quarter revenue to be down slightly Q/Q, compared with prior guidance of flat sales. The warning led Infineon shares to fall 13.4% on the Frankfurt exchange, and could also be pressuring shares of rival Euro chipmaker STMicroelectronics (STM -4.9%). | Comment!
IFNNY vs. ETF Alternatives
Infineon Technologies AG, Neubiberg, Germany, offers semiconductor and system solutions addressing three central challenges to modern society: energy efficiency, mobility, and security. In the 2014 fiscal year (ending September 30), the Company reported sales of Euro 4.3 billion with around... More
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