Oct. 16, 2013, 5:05 PM
- Xilinx (XLNX) expects FQ3 (Dec. quarter) revenue to be down 2% to up 2% Q/Q; the consensus is for a 1.4% increase.
- FQ2 non-GAAP EPS (excludes a $0.09 litigation charge) was $0.58, beating a consensus of $0.53. Gross margin was 69.5%, +50 bps Q/Q and +350 bps Y/Y, and above guidance of 69%. FQ3 gross margin is expected to be around 69%.
- Telecom/data center chip sales (43% of revenue) -3% Y/Y in FQ2 vs. -2% in FQ1. Industrial, aerospace, and defense (38% of revenue) was strong, +32% vs. +9%; broadcast, consumer, and automotive saw a turnaround, +17% vs. -5%.
- R&D spend +12% Y/Y to $125M, SG&A +4% to $96.3M. $70M spent on buybacks.
- XLNX -4.5% AH. Archrival ALTR -2.8%.
- FQ2 results, PR
Oct. 16, 2013, 4:24 PM
Oct. 16, 2013, 12:10 AM
Oct. 15, 2013, 5:35 PM
Sep. 30, 2013, 9:26 AM
- BlackBerry (BBRY) has been upgrade to Market Perform by Bernstein. Shares nonetheless -1.4%, following equity futures lower.
- Accenture (ACN) has been upgraded to Hold by SocGen. Shares sold off on Friday in response to the company's soft FQ1/FY14 guidance.
- Xilinx (XLNX) has been upgraded to Outperform by Pac Crest. Shares -0.6%.
- Telecom Italia (TI) has been upgraded to Neutral by JPMorgan following reports CEO Franco Bernabe is set to resign, a move that could clear the way for Latin American asset sales. Shares +3.1%.
- RealPage (RP) has been cut to Underperform by Credit Suisse. Shares -3.5%.
- Chinese online gaming firm NetEase (NTES) and Giant Interactive (GA) have been started at Buy by BNP Paribas.
- Marketo (MKTO) has been started at Outperform by Wells Fargo.
- CyrusOne (CONE) has been started at Overweight by Evercore.
Aug. 29, 2013, 2:43 PM
- Micron Technology (MU +3%) shares are strong after positive comments emerge from a Jefferies investor day.
- MU believes it is unlikely to see the effect of recent declines in NAND contract prices reported by DRAMeXchange, Jefferies reports; MU also is seeing stable DRAM prices and is confident of continued stability in DRAM prices.
- The firm recommends buying MU "while investors are still not fully convinced of structurally positive fundamentals in DRAM and NAND"; it also offers favorable comments on AMD (AMD -1%), NXP Semiconductors (NXPI +2%) and Xilinx (XLNX +1.2%).
Aug. 26, 2013, 12:55 PM
- Baird has joined Citi in upgrading Altera (ALTR +1.9%). The firm now rates the FPGA developer an Outperform, and has lifted its PT to $45.
- Both firms expect Altera to benefit from ramping Chinese 4G infrastructure spend - China Mobile reportedly handed out orders for 207K base stations (total value of $3.26B) earlier this month.
- Citi expects 1M+ 4G base stations to be deployed by Chinese carriers, with ~500K deployed by 2014. The firm observes Altera and Xilinx's (XLNX +0.9%) Chinese programmable logic sales grew at a 28% CAGR during the Chinese 3G buildout (2008-2011), and expects the 4G buildout to be bigger.
- Citi upgraded Xilinx to Buy on July 12, shortly before the company delivered an FQ1 beat and better-than-expected FQ2 guidance.
Aug. 16, 2013, 9:39 AM
- Applied Materials (AMAT +2.1%) has been upgraded to Buy by D.A. Davidson following its FQ3 miss, light FQ4 guidance, and CEO announcement.
- Morgan Stanley is overhauling its chip stock coverage. Maxim (MXIM -0.4%) has been cut to Equal Weight a day after announcing the Volterra acquisition, and largely getting good reviews for it. Meanwhile, Linear (LLTC +0.6%) and Xilinx (XLNX +1.3%) have been upgraded to Overweight.
- In addition, MS has started ON Semi (ONNN +0.4%) and Freescale at Underweight, Atmel (ATML +1.7%) and Fairchild (FCS +0.9%) at Overweight, and Microchip (MCHP +0.5%) at Equal Weight.
- RBC has started another analog chipmaker, Semtech (SMTC +1.6%), at Outperform ahead of its Aug. 21 FQ2 report.
Jul. 17, 2013, 5:20 PMXilinx (XLNX) is guiding for FQ2 revenue to be flat to up 3% Q/Q. That implies a range of $579M-$596M, above a $561.6M consensus. Shares +3.3% AH in response to the guidance and Xilinx's strong FQ1 beat, which was aided by a 300 bps Q/Q increase in gross margin to 69%. Gross margin is seen holding steady in FQ2. Industrial, Aerospace, & Defense sales +10% Q/Q and +9% Y/Y.. Telecom/data center +8% Q/Q and -2% Y/Y, Broadcast, Consumer, & Automotive +4% Q/Q and -5% Y/Y. Wired telecom and aerospace/defense are named strong points, as were sales of 28nm chips (exceeded $50M). Altera (ALTR) +2.5%. Citi upgraded Xilinx last Friday. (PR) | Comment!
Jul. 17, 2013, 4:23 PM
Jul. 17, 2013, 12:10 AM
Jul. 16, 2013, 5:35 PM
Jul. 12, 2013, 12:18 PMXilinx (XLNX +2.7%) is entering an "extended period of above industry growth," says Citi's Glen Yeung while upgrading shares to Buy. Altera (ALTR +1.6%) is up in sympathy. Yeung sees ramping Chinese 4G spend acting as a growth driver; Xilinx's FPGAs are often used in base stations and other mobile infrastructure gear. 2 days ago, Xilinx announced it had taped out an UltraScale FPGA (offers ASIC-like features) that uses TSMC's next-gen 20nm process, and boasted it has a 6-month to 12-month+ lead (depending on FPGA type) over rivals in taping out 20nm parts. Xilinx also has an aggressive timetable for using TSMC's 16nm process. Altera plans to counter by adopting Intel's 14nm process. Xilinx reports on July 17, and Altera on July 23. | Comment!
Jul. 12, 2013, 10:20 AMA roundup of tech analyst ratings changes: 1) F5 (FFIV +2.8%) has received an upgrade to Overweight from Piper. 2) Yelp (YELP +4%) has been started at Buy by Needham. 3) 3) ServiceNow (NOW +4%) has been started at Strong Buy by Raymond James. 4) Quality Systems (QSII +7.9%) has been upgraded to Outperform by Baird. 5) Xilinx (XLNX +2.4%) has been upgraded to Buy by Citi. | Comment!
Apr. 24, 2013, 4:21 PM
Apr. 15, 2013, 9:45 AMAltera (ALTR) is buying AppliedMicro's (AMCC) Danish TPACK unit, a developer of Altera-based FPGAs for optical networking applications, for an undisclosed sum. Altera claims TPACK's chips have displaced ASSPs in applications that include 100G hardware (a key growth market), and will complement its existing optical offerings. Telecom & wireless made up 44% of Altera's Q4 sales, and (as always) the company remains in pitched battle here with archrival Xilinx (XLNX). AppliedMicro bought TPACK for $32M-$37M in 2010. (PR) | 1 Comment
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