Ratings on shares of Aixtron AG (NASDAQ: AIXG), Allos Therapeutics Incorporated (NASDAQ: ALTH), Beacon Power Corp. (NASDAQ: BCON), Atheros Communications (NASDAQ: ATHR) and Bristol Myers Squibb Co. (NYSE: BMY) were downgraded by analysts.
Canaccord Genuity downgraded Aixtron AG (AIXG) from a “hold” rating to a “sell” rating.
Needham & Company downgraded Allos Therapeutics Incorporated (ALTH) from a “buy” rating to a “hold” rating.
FBR Capital downgraded Atheros Communications (ATHR) from an “outperform” rating to a “market perform” rating. They have a price target of $45.00 on the company.
Ardour Capital downgraded Beacon Power Corp. (BCON) from an “accumulate” rating to a “hold” rating. They have a price target $1.50 on the company, down from $3.00.
Goldman Sachs (NYSE:GS) downgraded Bristol Myers Squibb Co. (BMY) to a “neutral” rating. They have a price target of $77.00 on the company.
Showing posts with label Atheros. Show all posts
Showing posts with label Atheros. Show all posts
Wednesday, May 11, 2011
Wednesday, April 6, 2011
Broadcom (BRCM) Gets Boost from Davidson, Oppenheimer
Shares of Broadcom (NASDAQ:BRCM) were up over 3 percent in trading as of this writing, on news of two upgrades, one from DA Davidson and the other form Oppenheimer.
According to DA Davidson’s analyst Aalok Shah, Broadcom will continue to have the majority of the market of chips serving WiFi, Bluetooth and FM radio connections in smartphones and tablet computers, and integration of those devices should help the company maintain its lead despite incursions from Qualcomm (NASDAQ:QCOM), which is in the process of acquiring Atheros (NASDAQ:ATHR) for greater WiFi chip expertise.
Even with concerns over the depth of the supply chain disruption coming from the earthquake in Japan, Shah still sees the company performing well in 2011.
Broadcom was trading at $39.62, gaining $1.17, or 3.04 percent, as of 12:37 PM EDT. Shah raised his rating on Broadcom from "Neutral" to "Buy."
According to DA Davidson’s analyst Aalok Shah, Broadcom will continue to have the majority of the market of chips serving WiFi, Bluetooth and FM radio connections in smartphones and tablet computers, and integration of those devices should help the company maintain its lead despite incursions from Qualcomm (NASDAQ:QCOM), which is in the process of acquiring Atheros (NASDAQ:ATHR) for greater WiFi chip expertise.
Even with concerns over the depth of the supply chain disruption coming from the earthquake in Japan, Shah still sees the company performing well in 2011.
Broadcom was trading at $39.62, gaining $1.17, or 3.04 percent, as of 12:37 PM EDT. Shah raised his rating on Broadcom from "Neutral" to "Buy."
Wednesday, January 5, 2011
Qualcomm (Nasdaq:QCOM) Agrees to Acquire Atheros (Nasdaq:ATHR)
Qualcomm (Nasdaq:QCOM) announced Wednesday they've come to an agreement with Atheros Communications (Nasdaq:ATHR) to acquire the company for $3.1 billion.
Analysts see the deal as helping to increase the position of Qualcomm in the mobility-chip market, which has been getting more competitive.
Qualcomm said they'll pay $45 a share for Atheros in an all-cash deal.
Qualcomm CEO Paul Jacobs said the strategy of the company is “to continually integrate additional technologies into mobile devices to make them the primary way that people communicate, compute and access content.”
“This acquisition is a natural extension of that strategy into other types of devices.”
Atheros was trading at $44.49, gaining $0.49, or 1.11 percent, as of 12:52 PM EST. Qualcomm was trading at $52.05, up $1.08, or 2.12 percent.
Analysts see the deal as helping to increase the position of Qualcomm in the mobility-chip market, which has been getting more competitive.
Qualcomm said they'll pay $45 a share for Atheros in an all-cash deal.
Qualcomm CEO Paul Jacobs said the strategy of the company is “to continually integrate additional technologies into mobile devices to make them the primary way that people communicate, compute and access content.”
“This acquisition is a natural extension of that strategy into other types of devices.”
Atheros was trading at $44.49, gaining $0.49, or 1.11 percent, as of 12:52 PM EST. Qualcomm was trading at $52.05, up $1.08, or 2.12 percent.
Monday, December 20, 2010
NVIDIA (NASDAQ:NVDA) EPS Estimates Raised on Improved Execution
While they continue to favor Atheros (Nasdaq:ATHR) or Marvell (Nasdaq:MRVL) in the sector, the improved performance of NVIDIA (NASDAQ:NVDA) has analysts at FBR Capital raising their EPS estimates and price target on the company.
FBR said, "Recent PC checks with the top six notebook ODMs are stable versus prior checks, with 4Q builds set to grow 2% QOQ. For 1Q11, our contacts suggest notebook builds will fall by 1% QOQ, better than typical seasonality (off of a poor base of shipment growth in 4Q10), but consistent with Street expectations."
"Given valuation, we remain more favorable on Atheros or Marvell ), but we note NVDA's improved execution. We maintain our Market Perform rating and raise our calendar 2011 and 2012 EPS estimates (GAAP) from $0.55 to $0.60 and our price target to $14, a 20x target P/E multiple (2011 GAAP), seemingly appropriate given NVIDIA's growth and margin profile."
FBR Capital maintains a "Market Perform" on NVIDIA, which was trading at $14.32, down $0.05, or 0.35 percent, as of 11:07 AM EST. FBR raised their price target on them from $13 to $14 a share.
FBR said, "Recent PC checks with the top six notebook ODMs are stable versus prior checks, with 4Q builds set to grow 2% QOQ. For 1Q11, our contacts suggest notebook builds will fall by 1% QOQ, better than typical seasonality (off of a poor base of shipment growth in 4Q10), but consistent with Street expectations."
"Given valuation, we remain more favorable on Atheros or Marvell ), but we note NVDA's improved execution. We maintain our Market Perform rating and raise our calendar 2011 and 2012 EPS estimates (GAAP) from $0.55 to $0.60 and our price target to $14, a 20x target P/E multiple (2011 GAAP), seemingly appropriate given NVIDIA's growth and margin profile."
FBR Capital maintains a "Market Perform" on NVIDIA, which was trading at $14.32, down $0.05, or 0.35 percent, as of 11:07 AM EST. FBR raised their price target on them from $13 to $14 a share.
Wednesday, December 15, 2010
QUALCOMM (Nasdaq:QCOM), Broadcom (Nasdaq:BRCM), Atheros (Nasdaq:ATHR), LSI (NYSE:LSI), National Semi (NYSE:NSM), ON Semi (Nasdaq:ONNN), Fairchild (NYSE:FCS) Look Good Going into 2011
FBR Capital gave their outlook for the chip sector going into 2011, and still see it performing strongly, although probably less than the last several quarters. Favorites in the sector include QUALCOMM (Nasdaq:QCOM), Broadcom (Nasdaq:BRCM), Atheros (Nasdaq:ATHR), LSI (NYSE:LSI), National Semiconductor (NYSE:NSM), ON Semi (Nasdaq:ONNN), Fairchild (NYSE:FCS) and Microsemi (Nasdaq:MSCC), all of which have an "Outperform" rating on them from FBR.
FBR said, "We remain constructive on the chip sector for 2011 and think that semiconductor stocks can appreciate higher over the course of the year given (1) robust end demand for smartphones, tablets, infrastructure equipment, and industrial/automotive applications; (2) higher chip content per device in handsets, automobiles, and others; (3) still-reasonable channel inventories; (4) still-limited capacity growth, and (5) reasonably high earnings power. That said, chip stocks have had a powerful move higher since September, and thus could be subject to profit taking, a pullback, or at the very least some digesting to start the year. Indeed, 2010 saw a continuation of the substantial recovery that began in 2H09, and we see these positive demand trends continuing into 2011. While the chip cycle did "over-heat" some in 2010, likely driving 2011 semiconductor revenue growth to track flattish year over year given the 5–10 points of revenue replenishment good news that does not repeat in 2011, we still believe this is the sector's first ever "soft-landing." We do see some revenue- and EPS-related "ship-ahead" risks still for chip firms, particularly in the industrial and communications/networking sectors, and expect some misses from chip firms in these sectors in 1H11, though the magnitude of these resets should be modest. Valuations remain generally attractive for the group (though not as attractive as two to three quarters ago) and we see material upside in Outperform-rated stocks like QUALCOMM, Broadcom, Atheros, LSI, National Semi, ON Semi, Fairchild, and Microsemi."
QUALCOMM closed Tuesday at $49.18, up $0.06, or 0.13 percent. Broadcom closed at $44.98, down $0.72, or 1.58 percent. Atheros closed at $33.94, down $0.62, or 1.79 percent. LSI ended the day at $5.93, up $0.02, or 0.34 percent. National Semiconductor closed at $13.64, up $0.06, or 0.44 percent. Fairchild ended the session at $15.14, down $0.33, or 2.13 percent. Microsemi closed Tuesday at $23.59, down $0.71, or 2.92 percent.
FBR said, "We remain constructive on the chip sector for 2011 and think that semiconductor stocks can appreciate higher over the course of the year given (1) robust end demand for smartphones, tablets, infrastructure equipment, and industrial/automotive applications; (2) higher chip content per device in handsets, automobiles, and others; (3) still-reasonable channel inventories; (4) still-limited capacity growth, and (5) reasonably high earnings power. That said, chip stocks have had a powerful move higher since September, and thus could be subject to profit taking, a pullback, or at the very least some digesting to start the year. Indeed, 2010 saw a continuation of the substantial recovery that began in 2H09, and we see these positive demand trends continuing into 2011. While the chip cycle did "over-heat" some in 2010, likely driving 2011 semiconductor revenue growth to track flattish year over year given the 5–10 points of revenue replenishment good news that does not repeat in 2011, we still believe this is the sector's first ever "soft-landing." We do see some revenue- and EPS-related "ship-ahead" risks still for chip firms, particularly in the industrial and communications/networking sectors, and expect some misses from chip firms in these sectors in 1H11, though the magnitude of these resets should be modest. Valuations remain generally attractive for the group (though not as attractive as two to three quarters ago) and we see material upside in Outperform-rated stocks like QUALCOMM, Broadcom, Atheros, LSI, National Semi, ON Semi, Fairchild, and Microsemi."
QUALCOMM closed Tuesday at $49.18, up $0.06, or 0.13 percent. Broadcom closed at $44.98, down $0.72, or 1.58 percent. Atheros closed at $33.94, down $0.62, or 1.79 percent. LSI ended the day at $5.93, up $0.02, or 0.34 percent. National Semiconductor closed at $13.64, up $0.06, or 0.44 percent. Fairchild ended the session at $15.14, down $0.33, or 2.13 percent. Microsemi closed Tuesday at $23.59, down $0.71, or 2.92 percent.
Tuesday, December 7, 2010
Qualcomm (Nasdaq:QCOM), Broadcom (Nasdaq:BRCM), Atheros (Nasdaq:ATHR), Altera (Nasdaq:ALTR), Omnivision (Nasdaq:OVTI), Spreadtrum (Nasdaq:SPRD) and Semiconductor Rally
Commenting on a number of companies in the semiconduction industry, FBR Capital openly questioned how long companies like Qualcomm (Nasdaq:QCOM), Broadcom (Nasdaq:BRCM), Atheros (Nasdaq:ATHR), Altera (Nasdaq:ATHR), Omnivision (Nasdaq:OVTI) and Spreadtrum (Nasdaq:SPRD), among others, can continue to move up as they have.
FBR said Our latest 4Q production start checks were largely stable versus our prior month checks in aggregate, with slight production improvements by Qualcomm; Broadcom, and Atheros fully offset by production cuts from Altera and Mediatek. On a sequential basis, we still think 4Q production starts will grow by roughly 3%-4% QOQ due to production increases from Qualcomm, Broadcom, Omnivision, and Spreadtrum, and largely offset by sequential production decreases from AMD (NYSE:AMD), Atheros, Marvell (Nasdaq:MRVL), Silicon Labs (Nasdaq:SLAB), Nvidia (Nasdaq:NVDA), and others. Clearly Qualcomm is prepping its basebands for the launch of the CDMA iPhone, and possibly the rest of Apple's (Nasdaq:AAPL) iPhone and iPad product lineup. Our first look at 1Q'11 production starts is surprisingly resilient, with 1Q starts set to grow about 1% QOQ in aggregate. For 1Q'11, a large sequential increase in production starts from Qualcomm and modest production increases from PC chip suppliers AMD, Nvidia, and Marvell are more than fully offsetting traditional seasonal declines in production starts from others. Regarding the sector, we note that chip stocks have had a powerful rally since September 1 with meaningful rallies in stocks like BRCM, QCOM, Texas Instruments (NYSE:TXN), MXIM (Nasdaq:MXIM), Fairchild Semi (NYSE:FCS), Int'l Rectifier (NYSE: IRF), Microsemi (Nasdaq:MSCC), and others. So, while chip stocks seem to want to rally into the end of the year, we wonder how long a straight move higher can continue."
Altera closed Monday at $37.40, down $0.31, or 0.81. Qualcomm closed at $48.32, falling $0.50, or 1.02 percent. Broadcom finished at $45.57, losing $0.19, or 0.42 percent. Atheros finished the day at $34.33, gaining $0.52, or 1.54 percent. Omnivision ended Monday at $31.49, up by $0.37, or 1.19 percent. Spreadtrum closed at $17.39, losing $0.08, or 0.46 percent.
FBR said Our latest 4Q production start checks were largely stable versus our prior month checks in aggregate, with slight production improvements by Qualcomm; Broadcom, and Atheros fully offset by production cuts from Altera and Mediatek. On a sequential basis, we still think 4Q production starts will grow by roughly 3%-4% QOQ due to production increases from Qualcomm, Broadcom, Omnivision, and Spreadtrum, and largely offset by sequential production decreases from AMD (NYSE:AMD), Atheros, Marvell (Nasdaq:MRVL), Silicon Labs (Nasdaq:SLAB), Nvidia (Nasdaq:NVDA), and others. Clearly Qualcomm is prepping its basebands for the launch of the CDMA iPhone, and possibly the rest of Apple's (Nasdaq:AAPL) iPhone and iPad product lineup. Our first look at 1Q'11 production starts is surprisingly resilient, with 1Q starts set to grow about 1% QOQ in aggregate. For 1Q'11, a large sequential increase in production starts from Qualcomm and modest production increases from PC chip suppliers AMD, Nvidia, and Marvell are more than fully offsetting traditional seasonal declines in production starts from others. Regarding the sector, we note that chip stocks have had a powerful rally since September 1 with meaningful rallies in stocks like BRCM, QCOM, Texas Instruments (NYSE:TXN), MXIM (Nasdaq:MXIM), Fairchild Semi (NYSE:FCS), Int'l Rectifier (NYSE: IRF), Microsemi (Nasdaq:MSCC), and others. So, while chip stocks seem to want to rally into the end of the year, we wonder how long a straight move higher can continue."
Altera closed Monday at $37.40, down $0.31, or 0.81. Qualcomm closed at $48.32, falling $0.50, or 1.02 percent. Broadcom finished at $45.57, losing $0.19, or 0.42 percent. Atheros finished the day at $34.33, gaining $0.52, or 1.54 percent. Omnivision ended Monday at $31.49, up by $0.37, or 1.19 percent. Spreadtrum closed at $17.39, losing $0.08, or 0.46 percent.
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