Jun. 11, 2014, 5:36 PM
Jun. 11, 2014, 4:18 PM
Jun. 10, 2014, 5:35 PM
Jun. 9, 2014, 10:36 AM
- A slew of chip stocks are rallying following Analog Devices' (ADI +5.9%) $2B deal to acquire RFIC vendor Hittite Microwave.
- The purchase is part of an M&A wave that has hit the semiconductor industry over the last 12 months, as chipmakers try to gain scale, cut opex, and grow their cross-selling opportunities by consolidating. Other deals: RF Micro/TriQuint, Avago/LSI, Microchip/ISSC.
- ADI, which shares many telecom equipment, defense/aerospace, and automotive clients with Hittite, predicts Hittite's RF, microwave, and millimeter wave ICs will complement its RF and signal-conversion (ADC/DAC) products.
- Several RF and analog/mixed signal chipmakers are higher, but they're not the only gainers: RFMD +1.8%. TQNT +1.8%. PSMI +2.5%. LLTC +1.6%. MSCC +2.1%. IDTI +3.8%. ATML +3.4%. IRF +1.4%. SIGM +3.9%. AMCC +3.8%.
- Chip ETFs: SOXX, SMH, XSD, PSI, SOXL, USD, SOXS, SSG
May 23, 2014, 2:17 PM| Comment!
Apr. 9, 2014, 6:08 PM
- Sigma Designs (SIGM) blames its FQ4 miss on "products transitions and inventory adjustments by [its] customers across multiple product lines." The chipmaker promises new products will provide a boost in the second half of FY15 (ends Jan. '15).
- Sigma also states Elias Nader, who has been serving as interim CFO since March 2013, is now the company's permanent CFO.
- FQ4 gross margin was 61.1%, +110 bps Q/Q and +1500 bps Y/Y. Opex fell 35% Y/Y to $24.3M thanks in large part to a $10.4M drop in R&D spend.
- FQ4 results, PR
Apr. 9, 2014, 5:39 PM
Apr. 9, 2014, 5:05 PM
Apr. 9, 2014, 12:10 AM
Apr. 8, 2014, 5:35 PM
Jan. 13, 2014, 12:52 PM
- In an SA Pro column (embargoed until 11AM ET Tuesday), Nassarius Capital asserts Sigma Designs (SIGM +2.9%) could more than double from current levels.
- The author notes shares trade at only 2x cash (limits downside), and sees Sigma's restructuring efforts and the presence of activist investor Raging Capital acting as catalysts.
- Another activist firm, Potomac Capital, recently unloaded its Sigma position. In tandem with the move, Potomac manager Eric Singer resigned as Sigma's chairman.
Dec. 23, 2013, 10:55 AM| Comment!
Dec. 12, 2013, 12:52 PM
Dec. 12, 2013, 10:06 AM
- Sigma Designs (SIGM -17.9%) shares are selling off after the company missed expectations in Q3 and provided bleak guidance.
- CEO Thinh Tran observed on the conference call that "shipment for the majority of the new products won't begin to materialize until the first half of next year. Meanwhile, our existing product line will experience challenges in the short term." He sees demand declining for set-top boxes, DTV, and home control in Q4.
- Management guides for Q4 revenue of $40M-$44M (well below analyst expectations of $53.5M), gross margin of 59%-61%, and opex of $24.5M. Analysts currently expect EPS of $0.06.
- Following results, Needham cut its rating to Hold from Buy.
Dec. 12, 2013, 9:56 AM
- Intel (INTC +1.1%) has been upgraded to Neutral by Nomura. Citi and Drexel Hamilton upgraded shares last Friday.
- Micron (MU +2%) has been upgraded to Buy by Nomura. Shares fell yesterday following an MKM report stating SK Hynix's Wuxi, China fab will be operational sooner than expected.
- Xilinx (XLNX +1.7%) has been upgraded to Buy by Nomura. In addition, both Xilinx and rival Altera (ALTR +0.6%) have been started at Outperform by JMP.
- iRobot (IRBT +2.2%) has been upgraded to Neutral by JPMorgan.
- Synchronoss (SNCR +6.8%) has been upgraded to Strong Buy by Raymond James.
- Teradata (TDC -2%) has been cut to Sector Perform by RBC. Shares are making new 52-week lows.
- Texas Instruments (TXN -0.7%) and SanDisk (SNDK -2.3%) have been cut to Reduce by Nomura. TI provided an in-line mid-quarter update on Monday, while SanDisk fell in tandem with Micron yesterday.
- Sigma Designs (SIGM -17.8%) has been cut to Hold by Needham after missing FQ3 estimates.
- Progress Software (PRGS -7.5%) has been cut to Market Perform by JMP.
Dec. 11, 2013, 5:45 PM
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