NETL: NetLogic Microsystems, Inc. Instablogs

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Thursday, February 9, 2012, 5:46 PM NetLogic (NETL), due to be acquired by Broadcom (BRCM), warns it expects Q4 revenue of $96.2M, well below a consensus of $110.6M, and that it will restate its 2011 results to account for the accrual of severance benefits granted to an exec who left the company. Broadcom shares are down slightly AH on the news. Comment! [Tech, Earnings]
Wednesday, February 1, 2012, 9:47 AM In spite of its Q4 beat and solid guidance, Auriga is downgrading Broadcom (BRCM +5.2%) to Hold, arguing it sees long-term challenges in its mobile chip division, and risks related to the NetLogic (NETL) deal. But Needham (Buy) is impressed with the growth potential of the mobile business, which is a major Apple supplier, and also expects the adoption of HD video and 10-gig Ethernet to drive future growth. (transcript) Comment! [Tech, On the Move, Quick Ideas]
Thursday, October 27, 2011, 12:10 AM Notable earnings after Thursday's close: AMD, CBG, CERN, CINF, CLD, CLF, CROX, CSTR, DDR, DECK, DPL. EMN, ERTS, EXPE, FII, GILD, HIW, HLS, IM, KEG, KLAC, LEG, LVS, MET, MMI, NCR, NETL, NLY, PFG, PMCS, QLGC, QLIK, RGC, RSG, SWN, UHS, VAR, VRSN, VRTX. 1 Comment [Earnings]
Monday, October 24, 2011, 1:44 PM Cavium (CAVM +4.7%) outperforms thanks to a note from Rodman & Renshaw's Ashok Kumar, who suggests the company, whose chips often go into 3G/4G base stations, is a worthy buyout target for Qualcomm (QCOM). Rival network processor vendor NetLogic (NETL) was acquired by Broadcom (BRCM) last month. Comment! [Tech, On the Move, Quick Ideas]
Thursday, September 29, 2011, 1:08 PM Jefferies expects chipmakers Broadcom (BRCM) and Inphi (IPHI) to benefit from the adoption of 100-gigabit Ethernet links in data centers. Broadcom's 100-gig position will get a boost from its acquisition of NETL, while Inphi's partnership with CSCO is seen as giving it an edge over rivals FNSR and SMTC. Comment! [Tech, Quick Ideas]
Tuesday, September 13, 2011, 1:37 PM NetLogic (NETL +0.2%) shares are quiet a day after Broadcom's (BRCM) $3.7B bid, as investor hopes for a higher competing bid fade. But Cavium (CAVM +3.2%) and EZChip (EZCH +6.5%) extend yesterday's speculative surge: JMP thinks CAVM could be a takeover target and the BRCM-NETL combo could add new business (also), and Bloomberg reports Marvell (MRVL) could make a bid for EZCH. Comment! [Tech, M&A, On the Move]
Tuesday, September 13, 2011, 9:38 AM Cavium (CAVM) shares rose sharply yesterday following BRCM's acquisition of rival NETL. However, Bloomberg estimates that if Cavium was acquired at a similar price/sales ratio, shares would rise an additional 39%. William Blair thinks INTC, MRVL, or QCOM could show interest in Cavium at a price of $50-$60/share. Comment! [Tech, Quick Ideas, M&A]
Monday, September 12, 2011, 11:13 AM In addition to Cavium (CAVM +4.5% - previously), several other network processor vendors are up following Broadcom's (BRCM -2.3%) buyout of NetLogic (NETL +50.2%), as the deal raises hopes of further moves from big-name chipmakers. EZCH +6.5%. IPHI +7%. MLNX +3.1%. MRVL +2.1%. AMCC +1.3%. PMCS +1.2%. Comment! [Tech, On the Move]
Monday, September 12, 2011, 11:05 AM Broadcom (BRCM -2.6%) expects its acquisition of NetLogic (NETL +50.2%) to be accretive to 2012 EPS, and its CEO is especially high on NetLogic's potential to increase Broadcom's opportunities in the base station chip space. ThinkEquity sees the move doubling Broadcom's addressable market in networking chips. (previously) Comment! [Tech, M&A, Quick Ideas]
Monday, September 12, 2011, 8:33 AM Shares of Cavium (CAVM) are up 7.4% premarket on interest stoked up after the Broadcom (BRCM) buyout of NetLogic (NETL). Comment! [On the Move, Tech]
Monday, September 12, 2011, 7:41 AM Shares of NetLogic (NETL) soar 51% premarket after Broadcom (BRCM) snatches up the firm with a $3.7B offer. Comment! [On the Move, Tech]
Monday, September 12, 2011, 7:40 AM Quick take on Broadcom/NetLogic: Though some overlap exists between the companies' product lines, the deal will improve the breadth of Broadcom's solutions in the increasingly competitive market for network processors used in data centers and telecom gear, a market that should get a boost from Cisco's (CSCO) looming R&D cuts. Comment! [Tech, M&A, On the Move]
Monday, September 12, 2011, 7:33 AM Broadcom (BRCM) agrees to buy NetLogic Microsystems (NETL) for $3.7B in a definitive merger agreement expected to close in the first half of 2012. The firm calls the deal a "strategic fit" that should deliver financial results. Rivals in the space potentially seeing interest: LSI, CAVM, MRVL, VTSS, FSL, PMCS, AMCC. Comment! [M&A, Tech, Quick Ideas, On the Move]
Tuesday, August 23, 2011, 10:40 AM Roth's Arnab Chanda is downgrading network processor vendors Cavium (CAVM) and NetLogic (NETL) to Neutral; while positive on the companies long-term, Chanda is worried about their near-term exposure to weak enterprise IT spending. However, Chanda is upgrading Marvell Technology (MRVL) to Buy, citing low expectations and a cheap valuation. Comment! [Tech, Quick Ideas]
Thursday, August 11, 2011, 10:06 AM Networking and telecom hardware vendors, and the component suppliers who service them, are joining Cisco (CSCO +16.2%) in strongly outperforming the NASDAQ. JNPR +4.8%. JDSU +6.3%. CAVM +9.6%. NETL +7.4%. APKT +6.6%. PMCS +4.5%. OPLK +4.9%. ALU +3.2%. FFIV +3.5%. BRCD +4.7%. Comment! [Tech, On the Move]
Thursday, August 11, 2011, 8:09 AM More on Infonetics/optical networking: Tellabs notwithstanding, Infonetics' report shows how spending on gear needed to cope with surging Internet traffic remains strong, in spite of broader concerns about weak capex. In addition to equipment vendors, component and chip providers such as JDSU, OPLK, NETL, EZCH, and AMCC are beneficiaries. Comment! [Tech, Quick Ideas]

NETL NetLogic Microsystems, Inc.

NETL

NetLogic Microsystems, Inc.