Chip Stocks Earnings From AMD, Intel, Texas Instruments and Qualcomm

Viewing 11 posts - 1 through 11 (of 11 total)
  • Author
    Posts
  • #17487
    ThePitBoss
    Participant

    In a huge week for technology earnings top…

    [article]950[/article]

    #17490
    Truman
    Participant

    Interesting take on the tariffs and chips – be interesting CC

    #17521
    Truman
    Participant

    Qualcomm Earnings Beat and drops NXP deal, $COM up 6%

    Revenue +4% to $5.6 billion.
    EPS +41% to $0.82 per share,
    EPS adjusted +22% to $1.01.

    Qualcomm ($QCOM) reported a 41% jump in earnings for the third quarter driven by solid execution, including strong results in licensing business despite seasonality and soft industry conditions. The top and bottom line came in above analysts’ expectations.

    Revenue for the quarter witnessed a modest growth of 4% to $5.6 billion. Revenues from Qualcomm CDMA Technologies (QCT), which account for the lion’s share of total revenues, improved 1% year-over-year, and Qualcomm Technology Licensing (QTL) segment generated a 25% growth in revenues in the quarter.

    Earnings climbed 41% to $0.82 per share, while on an adjusted basis, earnings increased 22% to $1.01 per share. From the third quarter of last year, results have been negatively impacted by its dispute with Apple (AAPL) and its contract manufacturers. The company did not record any QTL revenues in the first nine months of fiscal 2018 or the third or fourth quarter of fiscal 2017 for royalties due on sales of Apple’s products.

    Looking ahead into the fourth quarter of 2018, the company forecasts revenue to be around $5.1 billion to $5.9 billion, with EPS of $0.58 to $0.68. Adjusted EPS are expected to be $0.75-$0.85.

    Source: https://news.alphastreet.com/qualcomm-drops-nxp-deal-stock-climbs-on-upbeat-q3-results/

    $QCOM After hours 63.01 +3.59 (6.04%)

    #17522
    Truman
    Participant

    AMD beat earnings despite GPU drop; stock jumps as Q2 results beat street view

    Semiconductor firm Advanced Micro Devices (AMD) reported above-consensus earnings for the second quarter when revenues surged as the strong demand for products in the PC and server markets more than offset a slump in GPU sales to crypto miners.

    $AMD posted adjusted earnings of $156 million or $0.14 per share for the June-quarter, compared to a loss of $7 million or $0.01 per share in the prior-year quarter.

    During the quarter, gross margin rose by 3 percentage points to 37%, reflecting the positive response to newly launched products.

    Market Summary > Advanced Micro Devices, Inc.
    NASDAQ: AMD
    16.05 USD −0.14 (0.86%)
    Closed: Jul 25, 6:10 PM EDT · After hours 16.81 +0.76 (4.74%)

    #17561
    Truman
    Participant

    [quote=”Blarney” post=7299]Qualcomm Earnings Beat and drops NXP deal, $COM up 6%

    Revenue +4% to $5.6 billion.
    EPS +41% to $0.82 per share,
    EPS adjusted +22% to $1.01.

    Qualcomm ($QCOM) reported a 41% jump in earnings for the third quarter driven by solid execution, including strong results in licensing business despite seasonality and soft industry conditions. The top and bottom line came in above analysts’ expectations.

    Revenue for the quarter witnessed a modest growth of 4% to $5.6 billion. Revenues from Qualcomm CDMA Technologies (QCT), which account for the lion’s share of total revenues, improved 1% year-over-year, and Qualcomm Technology Licensing (QTL) segment generated a 25% growth in revenues in the quarter.

    Earnings climbed 41% to $0.82 per share, while on an adjusted basis, earnings increased 22% to $1.01 per share. From the third quarter of last year, results have been negatively impacted by its dispute with Apple (AAPL) and its contract manufacturers. The company did not record any QTL revenues in the first nine months of fiscal 2018 or the third or fourth quarter of fiscal 2017 for royalties due on sales of Apple’s products.

    Looking ahead into the fourth quarter of 2018, the company forecasts revenue to be around $5.1 billion to $5.9 billion, with EPS of $0.58 to $0.68. Adjusted EPS are expected to be $0.75-$0.85.

    Source: https://news.alphastreet.com/qualcomm-drops-nxp-deal-stock-climbs-on-upbeat-q3-results/

    $QCOM After hours 63.01 +3.59 (6.04%)[/quote]

    AMD ripped 14 percent by close Thursday after reporting

    Rosenblatt Securities wrote in a note on Friday

    “The setup is for Advanced Micro Devices to control both the architectural and process node aspects of the x86 [processor] market for years to come; a dynamic we have never seen before and structurally destructive for Intel’s business model. We reiterate our Sell rating,” .

    Also The analysts noted that Intel could lose its “near monopolistic position in CPUs that allowed for increased ASPs.”

    #17562
    Truman
    Participant

    Intel Down over 8% on product delays and fears losing a near ‘monopolistic position’

    $INTC beat earnings expectations on Thursday but , analysts expressed concern that rivals such as AMD will eat away at its dominant market share. Intel has been struggling to maintain production timeline goals on its next-generation chips.

    Earnings: $1.04 per share, excluding certain items, vs. 96 cents per share expected by analysts, according to Thomson Reuters.
    Revenue: $16.96 billion, vs. $16.77 billion as expected by analysts, according to Thomson Reuters.

    “There’s concerns about our gross margins in the fourth quarter and we understand that,” Swan said. “The practical reality is the three things that are driving [Intel] are healthy for our business.”
    Those three things are continued growth in the modem and memory businesses, and progress on the 10-nanometer chip.
    “We’ve seen growth in the enterprise sector as well,” Swan said. “The needs for data to be analyzed, compute, stored, retrieved, and faster and faster times; the demand at the end user is growing exponentially.”
    Intel’s biggest business segment, the Client Computing Group, came up with $8.73 billion in revenue in the second quarter, above the FactSet analyst consensus of $8.48 billion. PC volumes were down 1 percent year over year even as the average selling price for desktop products rose 13 percent, Intel said.
    “You do not want to give Jeff Bezos a seven-year head start.”
    Hear what else Buffett has to say

    “That’s creating demand for compute capacity, both in the cloud and more recently in the enterprise,” Swan said. “We think this is a trend that’s going to be with us for awhile.”
    The second-largest Intel segment, its Data Center Group, generated $5.55 billion in revenue, which is under the $5.64 billion consensus estimate. And Intel’s Non-Volatile Memory Solutions Group had revenue totaling $1.08 billion, which is behind the $1.11 billion estimate.

    With respect to guidance, Intel said it expects $1.15 in earnings per share, excluding certain items, on $18.1 billion in revenue in the third quarter. Analysts had expected $1.08 in earnings per share, excluding certain items, on revenue of $17.60 billion for the period, according to Thomson Reuters.

    The company also raised its outlook for the full year, bringing it to $4.15 in earnings per share, excluding certain items, on $69.5 billion in revenue. For the full year analysts had been looking for $4.01 per share, excluding certain items, on $68.43 billion in revenue, according to Thomson Reuters.

    “We believe that [Intel’s Client Computing Group] alone could increase by $1 billion sequentially due in part to the baseband modem ramp at Apple,” Nomura Instinet analysts led by Romit Shah said in a Monday note. The analysts also said Intel’s Data Center Group could grow again in the third quarter given Microsoft’s expected increases in capital expenditures.

    In the second quarter, Intel CEO Brian Krzanich suddenly stepped down after having a consensual relationship with another Intel employee in violation of the company’s non-fraternization policy. Chief Financial Officer Bob Swan became interim CEO. The company has begun a search for a permanent replacement.

    At the same time, Intel has been facing pressure from competitors as it seeks to get to the next generation of products as soon as possible.
    But Swan said he doesn’t mind the rivalry. “We’re used to competition along the way. We invite it,” he said.

    “The biggest risk to Intel is the year delay in shipments of its next-gen 10 [nanometer] product while rivals Taiwan Semiconductor have finally caught up and are enabling Advanced Micro Devices, Nvidia and Xilinx to potentially leapfrog,” Bank of America analysts wrote.

    Analysts at Stifel echoed Bank of America’s concerns about 10-nanometer chips, adding that the costs to ramp up production could reduce the gross margin.
    “We are not convinced that 2019 [gross margin] will expand year over year,” Stifel wrote in a note on Friday.

    https://www.cnbc.com/2018/07/27/intel-plunges-on-competition-concerns-product-delays.html

    #17798
    ThePitBoss
    Participant

    Stifel Bullish Note on Semiconductors

    We prefer investing based on secular changes in the market rather than trying to predict ‘where are we in cycle?’. Thematic secular changes we have been emphasizing are: the increasing importance of memory to system performance; distributed processing in data centers or offloading workloads from CPU; and intelligence at the network edge.

    In our view, the past quarter’s earnings results and share price reaction clearly indicates that investors’ concerns over a cyclical peak to semiconductor shares are ruling the Semiconductor index of SOX negativity. Following our many recent meetings with institutional investors, the overriding concern is that the semiconductor business has to be at a peak. It’s been too good for too long. We continue to believe the many secular industry changes have disrupted semiconductor cycles.

    Four top stocks rated Buy at Stifel

    Advanced Micro Devices Inc. (NYSE: AMD)
    Micron Technology Inc.’s (NASDAQ: MU)
    Microchip Technology Inc. (NASDAQ: MCHP)
    ON Semiconductor Corp. (NASDAQ: ON)

    #18148
    ThePitBoss
    Participant

    Intel Corp. $INTC raised to Market Perform from Underperform with a $46 price target (versus a $44.93 close) at Northland Securities. The 52-week range is $36.16 to $57.60.

    #18149
    ThePitBoss
    Participant

    Qualcomm Inc. NASDAQ $QCOM started with an Overweight rating and $95 price target at Barclays. Qualcomm has a 52-week range of $48.56 to $72.75.

    #18314
    ThePitBoss
    Participant

    Intel Corp. $INTC downgraded to Underperform from In-Line at Raymond James. Intel 52-week range is $37.00 to $57.60.

    #18315
    ThePitBoss
    Participant

    KeyBanc Capital Markets Upgrades Chips

    Microchip Technology Inc. $MCHP started as Sector Weight – has a 52-week range of $78.33 to $104.20.
    ON Semiconductor Corp. $ON started as Sector Weight – has a 52-week range of $17.60 to $27.10
    Qualcomm Inc.$QCOM started as Sector Weight – has a 52-week range is $48.56 to $76.50.
    Texas Instruments Inc. $TXN started as Sector Weight – has a 52-week range of $87.45 to $120.75.

Viewing 11 posts - 1 through 11 (of 11 total)
  • You must be logged in to reply to this topic.