Mon, Feb. 2, 11:20 AM
- The former contract manufacturer is now a Chinese real estate development play, and well, the state of Chinese real estate development may have investors wanting to get back into contract manufacturing.
- The company does note, however, that Shenzhen - where all of its land is located - is the only first-tier city in the country recording modest increases in the ASP of properties sold of late.
- NTP -4.1%
- Previously: Nam Tai Property EPS of -$0.13 (Feb. 2)
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Sep. 17, 2013, 11:52 AM
- Discussing his upgrade of Broadcom (BRCM +2.6%) to Positive, Susquehanna's Chris Caso declares expectations have been reset thanks to a summer swoon, and that an iPhone 6 launch (expected in Q2 '14) will act as a catalyst.
- Caso also views improving networking chip demand and the purchase of Renesas' 4G baseband chip unit as reasons to be bullish.
- Some other Apple suppliers are also rallying today: CRUS +2.8%. SWKS +1.5%. NTE +2%. Avago is up after catching an upgrade to Outperform from JMP.
- The iPhone 6 is widely expected to feature a larger display, something considered necessary to slow international share losses as demand for large-screen Android phones takes off. Two weeks ago, the WSJ reported Apple is thinking of offering "iPhones with screens ranging from 4.8 inches to as high as six inches."
Sep. 11, 2013, 10:40 AM
- Apple suppliers Cirrus Logic (CRUS -4.7%), Qualcomm (QCOM -3.6%), Broadcom (BRCM -1.9%), Nam Tai (NTE -1%), Avago (AVGO -1.6%), and (in spite of an upgrade) Skyworks (SWKS -2%) are joining Apple itself in heading south as investors/analysts register disappointment over the iPhone 5C's premium pricing.
- Long expected to be a "low-cost" iPhone that would help Apple win back share from cheaper Android phones that have proven very popular with cost-sensitive buyers in both emerging and developed markets, the 5C is instead being priced as a fill-in for the iPhone 5 (now discontinued). The 16GB model goes for an unsubsidized $549 in the U.S, and (thanks to duties/taxes) $735 in China.
- Cirrus had rallied sharply in the weeks leading up to the iPhone 5S/5C launches.
Aug. 30, 2013, 12:08 PM
- Nam Tai Electronics (NTE -5%) receives an additional new purchase order for approximately 12M additional units from an unnamed existing customer to extend the production at the company's Shenzhen facility of high-resolution liquid crystal display modules for a smartphone to manufacture.
- Under the new order, the company expects to extend its production of LCMs for smartphones for this customer through December.
Aug. 28, 2013, 10:49 AM
- RF component makers Skyworks (SWKS +2.7%), RF Micro (RFMD +2.9%), TriQuint (TQNT +2.5%), and Anadigics (ANAD +2.8%) are outperforming after peer Avago (AVGO +4%) blew past FQ3 estimates and issued strong FQ4 guidance, while predicting it would get a boost from "very strong product ramps in wireless." Other than Anadigics, all of the aforementioned companies are iPhone suppliers.
- Non-RF Apple suppliers Cirrus Logic (CRUS +7%), OmniVision (OVTI +2.1%), SanDisk (SNDK +2%), and Nam Tai (NTE +3.2%) are also faring well.
- On the FQ3 CC, Avago asserted once again the technical demands of 4G radios are helping it gain RF component share, and noted its "two largest smartphone customers" (Apple and Samsung) are ramping next-gen platforms (the iPhone 5S/5C and Galaxy Note 3). Avago says it expects its "content in both these platforms continue to improve substantially."
- On the wireline/networking side, Avago is upbeat about improving core router demand, the adoption of 40G switches within data centers, CyOptics' sales, and strong 10G/40G optical transceiver demand. The last two are positives for JDSU, FNSR, and NPTN.
- Goldman, RBC, and Canaccord have hiked their Avago PTs.
Aug. 6, 2013, 12:48 PM
Aug. 5, 2013, 1:28 PM
- Excluding $30.7M in revenue from Nam Tai's (NTE -14.5%) discontinued tablet LCD manufacturing ops, Q2 revenue rose 64% Y/Y to $167.9M.
- Gross margin was 9.6%, up from 4.1% in Q1 but down from 15% a year ago.
- Nam Tai halted manufacturing at its Wuxi, China tablet LCD facility (previous) at the end of May "due to a lack of new customer orders and after it was unsuccessful in finding a joint venture partner." The company is looking to sell the facility.
- Nam Tai's Shenzhen facility has received a smartphone LCD order in Q3 from "an existing customer" (Apple?), but the customer is still expected to move production to a lower-cost supplier in time.
- Customer orders are expected to remain "volatile," with continued price pressure, and the amount of EMS services provided by Nam Tai is expected to be "further reduced significantly."
- All "commercially viable alternatives" are being explored to continue LCD manufacturing. Also, Nam Tai is looking to convert another Shenzhen facility into "a high-end commercial complex."
- Q2 results, PR
Aug. 5, 2013, 12:45 PM
NTP vs. ETF Alternatives
Nam Tai Property Inc, along with its subsidiaries is an electronics manufacturing and design services provider to OEMs of telecommunication and consumer electronic products. The Company manufactures electronic components and subassemblies.
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