Dec. 5, 2013, 3:54 PM
- As predicted by many investors and analysts, Alcatel-Lucent (ALU +3.6%) is returning to France's benchmark CAC-40 index. NYSE Euronext says the telecom equipment giant will be added back on Dec. 23, and replace chipmaker STMicroelectronics (STM -1.2%).
- Alcatel, buoyed by a debt restructuring and improving margins, has made fresh 2-year highs today, and is now up 224% YTD. STM, which has been posting Y/Y revenue drops and contending with the unraveling of its ST-Ericsson mobile chip JV, is up 5% YTD, but well off its summer highs.
Nov. 20, 2013, 4:48 PM
- During a Morgan Stanley conference talk, STMicroelectronics (STM +3.6%) CEO Carlo Bozotti states his company's bookings improved a bit in October from Q3 levels, something that gives him "comfort." Bozotti also says automotive chip demand remains healthy.
- Expectations for STM have been muted, particularly after the European chipmaker delivered a Q3 miss and below-consensus guidance last month.
- The automotive market was an area of strength for STM in Q3: While the company's total sales fell 7% Y/Y to $2.01B, its automotive sales rose 7% to $418M.
Oct. 28, 2013, 10:11 AM
- Maxim's Ashok Kumar reports InvenSense's (INVN -2.9%) motion sensors haven't been designed into the iPad Air or retina iPad Mini. This suggests InvenSense rival and traditional Apple motion sensor supplier STMicroelectronics (STM +0.3%) has secured the slots.
- Back in June, Kumar accurately forecast InvenSense wouldn't be designed into Apple's 2013 iPhones before partly backtracking. At the time, many on the sell-side had a different view of things.
- InvenSense's FQ2 report arrives tomorrow afternoon.
Oct. 25, 2013, 9:44 AM
- Constant Contact (CTCT +24.9%) has been upgraded to Buy by Needham after issuing mixed Q3 results and strong 2014 revenue guidance (13% growth vs. 11.9% consensus).
- Sony (SNE +0.6%) has been upgraded to Outperform by Credit Suisse. FQ2 results arrive on Oct. 31.
- Monolithic Power (MPWR +15.8%) has been upgraded to Outperform by Oppenheimer after beating Q3 estimates and issuing in-line Q4 guidance.
- ASX (ASX +2%) has been upgraded to Outperform by Bernstein.
- NCR (NCR -5.7%) has been cut to Neutral by Compass Point after posting mixed Q3 results and reiterating its full-year guidance.
- Rogers (RCI -0.9%) has been cut to Hold by Canaccord a day after posting Q3 results. Macquarie downgraded shares yesterday.
- STMicroelectronics (STM -0.6%) has been cut to Neutral by Goldman three days after missing Q3 estimates and providing weaker-than-expected Q4 guidance.
- WageWorks (WAGE +3.1%) has been started at Buy by SunTrust.
Oct. 23, 2013, 9:11 AM
Oct. 22, 2013, 6:48 PM
Oct. 22, 2013, 12:10 AM
Oct. 21, 2013, 5:35 PM
Sep. 23, 2013, 12:02 PM
- A Chipworks iPhone 5S teardown found a Bosch accelerometer and an STMicroelectroncs (STM -0.3%) gyroscope inside Apple's latest flagship, but no InvenSense (INVN -5.7%) parts.
- Meanwhile, Maxim, which on Friday joined Barclays in suggesting InvenSense failed to get a 5S design win, is now reporting InvenSense won't be designed into the 5th-gen iPad either. However, the firm is reiterating a Buy, arguing strong Samsung demand should bolster InvenSense's top line.
- OmniVision (OVTI -1%) is also ticking lower (to a lesser extent), even as many Apple suppliers shoot higher in response to the company's weekend iPhone sales data. The first 5S teardowns have uncovered Sony image sensors, but Apple has a history of using a dual-supplier strategy for iPhone image sensor procurement.
Sep. 20, 2013, 9:24 AM
- On cue, iFixit has posted an iPhone 5S teardown shortly after Apple's latest flagship device went on sale.
- Though no motion sensor supplier is named, Barclays says its initial analysis suggests STMicroelectronics (STM) held onto the gyroscope slot, albeit while adding the evidence isn't conclusive. InvenSense (INVN), expected by many to take the slot, is down 4.3% premarket.
- Parts that are mentioned include a Broadcom (BRCM) Wi-Fi/Bluetooth combo chip and touchscreen controller, a Sony (SNE) rear image sensor (in the past, Apple has used a dual-supplier strategy featuring Sony and OVTI), a Qualcomm (QCOM) baseband modem, RF transceiver, and power management IC, a TriQuint (TQNT) power amplifier module, and two amplifier modules apiece from Skyworks (SWKS) and Avago (AVGO).
- Though the combo chip win was widely expected, Broadcom investors appear relieved about the touchscreen controller win, given rumors Renesas had taken the slot. BRCM +2.4% premarket. TQNT +1.8%.
Sep. 13, 2013, 1:14 PM
- The Indian government has signed off on the construction of two local chip manufacturing plants, but hasn't yet decided who will get to build them. A consortium featuring IBM, TowerJazz (TSEM -1%), and Indian firm Jaiprakash Associates has submitted a proposal, and so has a consortium featuring STMicroelectronics (STM +1.3%), Malaysian chipmaker Silterra, and would-be local foundry Hindustan Semiconductor.
- Investments in the plants are expected to total 515.5B rupees ($8.1B). Relative to several East Asian countries, India has been a chip manufacturing laggard, but fresh government incentives and an interest in better servicing Indian electronics manufacturers and (indirectly) consumers are leading chipmakers to give the country another look.
Sep. 12, 2013, 2:40 PM
- A number of companies are outperforming or underperforming the market following executive presentations made either today or after the close yesterday at Deutsche's dbAccess Technology Conference.
- Winners include YuMe (YUME +5.3%), Proofpoint (PFPT +2.5%), STMicroelectronics (STM +5.9% - previous), Angie's List (ANGI +1.4%), Synchronoss (SNCR +1.4%), Bazaarvoice (BV +1.3%), and Finisar (FNSR +1.2%).
- Decliners include Nuance (NUAN -2%), Marin Software (MRIN -3.7%), Calix (CALX -1.5%), Xerox (XRX -1.5%), and Enphase Energy (ENPH -1.6%).
- Yesterday's movers, conference schedule
Sep. 12, 2013, 11:54 AM
- Perhaps the most noteworthy announcement involves the introduction of STMicroelectronics' (STM +5.5%) Faroujda transcoding (format conversion) tech, which the chipmaker asserts is the first solution enabling "a home gateway to distribute any type of content to any type of connected device in the home."
- STM has added Faroudja support to several home gateway SoCs. It should help the company better compete against set-top/home gateway SoC rival Broadcom (BRCM +0.7%).
- STM has also announced set-top SoCs supporting UltraHD (4K) video decoding and the next-gen HEVC video-compression format. Yesterday, the chipmaker unveiled gyroscopes optimized for enabling optical image stabilization on smartphones. InvenSense (INVN +1.6%) has been working on similar gyroscopes.
- Broadcom, meanwhile is also rolling out new set-top SoCs supporting 4K and HEVC decoding. CTO Henry Samueli has declared 4K, which could provide the side benefit of boosting demand for high-performance (802.11ac) Broadcom Wi-Fi chips, to be a priority for his company.
Sep. 12, 2013, 9:11 AM
Sep. 9, 2013, 10:44 AM
- After opening higher, InvenSense (INVN -0.8%) has turned negative in the last 15 minutes of trading thanks to a Wedge Partners note reporting of a problem in the company's new relationship with Apple.
- Echoing last Thursday's OTR Global note, Wedge says InvenSense "has recently experienced some issues with Apple" as Apple ramps new products, and thinks InvenSense's volumes could be affected.
- Historical Apple motion sensor supplier STMicroelectronics (STM +2.2%) would likely pick up the slack for any InvenSense volume shortfall.
- More on InvenSense and the iPhone
Sep. 5, 2013, 11:10 AM
- OTR Global reports InvenSense (INVN +0.4%) is experiencing production issues for the motion sensor designed into the iPhone 5S.
- If true, that could open door for archrival and historical Apple motion sensor supplier STMicroelectronics (STM +1%) to grab a portion of 5S-related orders Apple has already been pursuing a dual-supplier strategy for image sensors.
- Expectations of one or more Apple design wins have done wonders for InvenSense shares in recent months.
- Meanwhile, Notable Calls reports hearing "sell-side chatter" that an InvenSense sensor has been designed into Samsung's Galaxy Gear smartwatch.
- InvenSense remains close to its 52-week high of $17.88.
STM vs. ETF Alternatives
STMicroelectronics NV designs, develops, manufactures and markets semiconductor products used in different microelectronic applications, including automotive products, computer peripherals, telecommunications systems, consumer products, & control systems.
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