STMicroelectronics (STM) appears to be on the move today and is now at $8.30, down $0.34 (-3.94%) on volume of 1,116,966 shares traded. Over the ...(Click the story link or go to http://www.marketintelligencecenter.com for the full story)
SAN FRANCISCO (MarketWatch) - Shares of Intel Corp., Texas Instruments and other chip makers fell sharply Thursday after Bank of America downgraded the two tech giants and the entire sector on concerns of inventories overshooting real demand.
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The Portland Group®, a wholly-owned subsidiary of STMicroelectronics, today announced the general availability of its CUDA Fortran compiler for x64 and x86 processor-based systems running Linux, Mac OS X and Windows.
STMicroelectronics (NYSE: STM), one of the world?s leading semiconductor manufacturers, will showcase its latest embedded system solutions for use in applications covering the consumer, automotive, industrial and computer peripheral arenas at Embedded Technology 2009 to be held at PACIFICO YOKOHAMA, Japan, from Wednesday, November 18, to Friday, November 20, 2009.
I have noticed a profitable pattern. I am going to cast this from the bearish perspective, but in theory it could work either way. I have a few other historical examples, but let us focus on the present.
Background
Investors have many time frames, and so do those managing money. When you see someone ...
Analysts were expecting Silicon Image Inc. (SIMG) [Chart - News - Analysis] to report earnings of $-0.05 for last quarter, but SIMG beat expectations with actual earnings of $-0.04---1 cent above the consensus estimate. SIMG also issued earnings guidance for next quarter that is below current analyst expectations.
If you compare last quarter's earnings to the $0.13 the company made per share during the same quarter a year ago, you can see that SIMG’s earnings are down this year.
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Also, if you compare SIMG's 2.50% projected earnings-per-share (EPS) growth rate for the next five years with the projected EPS growth rate of 11.84% for the Semiconductor - Broad Line industry as a whole during that same time frame, you can see that analysts expect SIMG to underperform the industry in the future---which is a bad sign for the stock.
Drilling down a little deeper into the Semiconductor - Broad Line industry, you can see how analysts believe SIMG will stack up against some of the other stocks in the industry, like STMicroelectronics NV (STM) [Chart - News - Analysis] and ON Semiconductor Corp. (ONNN) [Chart - News - Analysis], in the future. Analysts believe STM's earnings are going to grow at a rate of 8.00% while ONNN's earnings are going to grow at a rate of 14.50%.
Earnings season can be a volatile time in the stock market. Check out these videos and articles to be better prepared to take advantage of the large price moves that tend to accompany earnings announcements.
Guest author Nalini Kumar Muppala recently finished his in-depth analysis of STMicroelectronics’ JV, ST-Ericsson. Today’s Tech Stocks post reviews STM’s (NYSE:STM) recent results in the context of Nalini’s assessment and also takes a look at the results of another major semiconductor player, Texas...
STMicroelectonics NV (STM) reported third quarter 2009 net loss of $201 million, or 23 cents per share, compared to a net loss of $318 million and $289 million in the prior quarter and year-ago periods, respectively. This was lower than the Zacks Consensus Estimate of a loss of 9 cents per share.
ST’s net revenues for [...]
Companies featured in this segment: Total SA (NYSE:TOT), Korea Electric Power Corporation (NYSE:KEP), Royal Dutch Shell plc (NYSE:RDS.A), STMicroelectronics NV (NYSE:STM), Siemens AG (NYSE:SI), Scottish and Southern Energy plc (OTC:SSEZY), OAO Gazprom (OTC:OGZPY), Mitsubishi Corporation (TYO:8058), Mitsui & Company Limited (TYO:8031), Novatek OAO (RTC:NVTK), Alstom SA (EPA:ALO), Schneider Electric SA (EPA:SU), Eramet (EPA:ERA), Power Grid Corporation of India Limited (BSE:532898), Larsen & Toubro Limited (BSE:500510)
Today analysts at Dougherty & Company maintained their "buy" rating on SiRF Technology Holdings Inc (SIRF) and reduced their target price from $35 to $11. Too bad Wall Street kicked shares down 55% to $7.32 (and falling), I guess Dougherty & Company forget to Carry a 1 or 0 with their latest estimate.
Turns out SiRF's earnings call yesterday disappointed a few investors with fourth-quarter results coming in lower than Wall Street's expectations and issuing a first-quarter guidance below analyst estimates.
The San Jose, CA-based provider of software and semiconductors for personal navigation devices Monday posted a fourth-quarter profit of 28 cents per share, versus the mean 32-cent estimate of analysts polled by Thomson Financial. Oops.
SiRF makes chips and software to enable GPS navigation in cars and handheld gadgets. A couple of customers reduced their orders late in the quarter, and the important Korean market suffered shortages of a size of LCD screens that no other country digs.
In a conference call Chief Executive Michael Canning said that given the broader direction of the economy and the possibility of a decline in consumer spending, the company will not be providing full-year guidance. Canning said he sees 'much greater than normal seasonality and uncertainty' ahead and forecast an adjusted per-share loss of 4 cents to breakeven and revenue in the range of $71 million to $77 million for the first quarter. The mean estimate of analysts polled by Thomson Financial was for a per-share profit of 24 cents on revenue of $92.4 million.
SiRF was downgraded to neutral at Piper Jaffray (NYSE:PJC) , Thomas Weisel Partners, UBS (NYSE:UBS) Investment Research and Longbow Research. Oppenheimer lowered its rating on the company to perform.
'While we believe delayed handset launches at Motorola (NYSE:MEU) (NYSE:MOT) continue pressuring revenue growth into handset end markets, we now believe SiRF's competitive position within PND end markets is eroding faster than expected,' Piper Jaffray Senior Research Analyst Amit Kapur wrote in a note to clients Tuesday. 'Given current strong PND industry unit volumes and SiRF's leading share at most customers, we believe downside risk to estimates remains if macroeconomic conditions further deteriorate.'
Competition from other companies, including STMicroelectronics (NYSE:STM) N.V., Qualcomm Inc. (NASDAQ:QCOM) and Broadcom Corp. (NASDAQ:BRCM) 'is starting to have a more severe impact on market share, revenues and profitability, ahead of market expectations (and likely management itself) given the sudden deterioration in performance,' UBS research analyst Jeroen Bos said in a research note Tuesday.
So what to make of it all?
A new 52-week low for SiRF shares which is 20% below its previous all-time low stock price. There has to be some value with shares priced so low and with everyone looking to find a stock with a bounce, SiRF may be a winner for %5 to %10 gain in the next few months.
Article written by Mark Cheshier
Contributor to theStockMasters.com
Disclaimer: The Author does not hold any positions or shares in the securities mentioned in this publication
