Friday, May 3, 10:29 AM
Heavily-shorted InvenSense (INVN +25.7%) continues shooting higher after beating FQ4 estimates. FQ1 guidance isn't great - revenue of $53M-$55M and EPS of $0.12-$0.14 vs. a consensus of $56.4M and $0.15 - but the motion sensor chipmaker also talked on its CC about a strong backlog and a solid relationship with Samsung, and didn't do anything to shoot down reports of an iPhone 5S design win. Top rival and current iPhone motion sensor supplier STMicroelectronics (STM -0.1%) is missing out on today's rally. (earlier)
1 Comment[Tech, On the Move, Earnings]
Tuesday, April 23, 11:22 AM
STMicroelectronics (STM +8.8%) recoups its April losses after beating Q1 EPS estimates on the back of a 170 bps Y/Y improvement in gross margin to 31.3%. The European chipmaker is guiding for Q2's Q/Q revenue growth to be in a range of -0.5% to +6.5%, the midpoint of which is below a 5% consensus. But it also setting a gross margin range of 30.7%-34.7%, as restructuring efforts and the ST-Ericsson wind-down provide a lift. Digital Convergence (set-tops/TVs) sales were a relative strong point (+8% Y/Y), as was Memory & Security (+9%). On the flip side, Silicon Photonics sales dived 35%. (PR)
Comment![Tech, Earnings, On the Move]
Thursday, January 31, 9:48 AM
Down AH yesterday following mixed Q4 results and light Q1 guidance, STMicroelectronics (STM +5.8%) is making new 52-week highs this morning. A 16% Y/Y increase in analog, MEMS, and microcontroller sales could be going over well. On the other hand, Digital (consumer electronics) and Wireless (dominated by ST-Ericsson) respectively fell 18% and 14%. Moreover, ST-Ericsson "anticipates a very significant sequential decrease in net sales" for Q1, and STM expects to spend $300M-$500M to exit the failed basbeband chip JV.
Comment![Tech, On the Move, Earnings]
Wednesday, January 30, 7:56 PM
More on STMicroelectronics (STM): Q4 results come in mixed, beating on total revenue but coming up short on a per share basis. Net losses widened due to a heavy write-down and other expenses tied to its plans to exit its four-year-old wireless-chip joint venture with ST-Ericsson, and narrower gross margins. Revenue from its analog business jumped 16%, while automotive revenue fell 3.9%. For Q1, the company expects revenue to decrease 7% sequentially, indicating around $2.01B, which is short of the Street's $2.05B consensus estimate.
Comment![Tech, Earnings, Global & FX]
Tuesday, July 24, 2012, 5:00 AMSTMicroelectronics (STM): Q2 EPS of -$0.05 misses by $0.01. Revenue of $2.15B (-16.3%) in-line. Issues downside guidance for Q3 revenue +2.5% sequentially, equivalent to $2.202B vs. consensus of $2.28B. (PR) (from AH yesterday)