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Analysts Changing Semiconductor Ratings (ALTR, AMCC, ASML, BRCM, LSCC, MRVL, WFR, MU, PMCS, STM, XLNX)

247wallst — Mon, 18 May 2009 11:45:48 +0000

We have seen many semiconductor and circuit calls this morning with upgrades and downgrades from Wall Street analysts. Here are some of these upgrades and downgrades:

Altera (ALTR) Cut to Underweight at Morgan Stanley.
Applied Micro Circuits (AMCC) Cut to Underweight at Morgan Stanley.
ASML (ASML) Cut to Neutral at Goldman Sachs.
Broadcom (BRCM) Raised to Overweight at Morgan Stanley.
Lattice Semiconductor (LSCC) Cut to Underweight at Morgan Stanley.
Marvell Tech (MRVL) Raised to Overweight at Morgan Stanley.
MEMC (WFR) Raised to Equal Weight at Morgan Stanley.
Micron Technology (MU) Raised to Overweight at Morgan Stanley.
PMC-Sierra (PMCS) Cut to Equal Weight at Morgan Stanley.
STMicroelectronics (STM) Raised to Buy at Goldman Sachs.
Xilinx (XLNX) Cut to Underweight at Morgan Stanley.

JON C. OGG

Posted in Analyst Calls, Semiconductor Tagged: ALTR, AMCC, ASML, BRCM, LSCC, MRVL, MU, PMCS, STM, WFR, XLNX

Earnings Warnings Hardly Affecting Many Stocks (LSCC, UTX, STLD, FUL, WAT)

247wallst — Fri, 12 Dec 2008 10:40:05 +0000

Earnings warnings are generally bad omens that rarely have a one quarter impact. But with many of these stocks already pricing in really bad scenarios. So when companies come in and say that revenues are down 3% or 12%, in many cases these are being rewarded by bottom-fishing traders who are trying to get into the stocks when the shares have sold off in many cases 50% or 75% (or more). Some companies which issued earnings warnings are Lattice Semiconductor (NASDAQ: LSCC), United Technologies (NYSE: UTX), Steel Dynamics (NASDAQ: STLD), H.B. Fuller (NYSE: FUL) and Waters Corp. (NYSE: WAT)

Lattice Semiconductor (NASDAQ: LSCC) issued an earnings and revenuewarning last night saying its expects a sequential revenue drop of 12%to 16% rather than flat to -4%. With shares close to $1.00 this mightbe all in the stock, but it joins the semiconductor warnings game.Shares are up a tad, but less than 1% at $1.28; 52-weektrading range is $1.04 to $4.00. Stock trades at under tangible bookvalue as long as its cash balances hold up.

United Technologies (NYSE: UTX) predicted that revenue would declineby 3.3% in 2009 and it put earnings at plus or minus 5% and expects theeconomic deterioration to cause a drop in revenues next year. $4.90 isthe pivot point that is the basis of a +/-5%, and First Call hadestimates at $5.03 for 2009. Shares are actually up by a fraction of apercent after spending the first 25 minutes of trading and thepre-market in negative territory.

Steel Dynamics (NASDAQ: STLD) guided for earnings to come at a loss of-$0.35 to -$0.40 versus $0.15 First Call consensus estimates. What thecompany said was that it believes the drop in scrap metals has run itscourse and may start to improve. Wall Street is trusting this as sharesare up less than 1% at $10.85. Its 52-week trading range is $5.18 to$40.92.

H.B. Fuller (NYSE: FUL) warned and gave guidance of $0.24 EPS versus$0.39 First Call consensus estimates. The adhesives and chemicals company said revenues were put at roughly$350 million, versus $367.58 million as the First Call consensus.Shares are down 1.5% at $13.84.

Waters Corp. (NYSE: WAT) is one of the few which is trading way off onearnings warning. The analytical instrument manufacturer warned thatrevenue and earnings would be under expectations as new orders werenot completed. Waters sees revenue at $410 million to $420 million for thequarter, yet analysts were looking for almost $450 million and thelowest estimate was $441 million. This one has also taken four analystdowngrades this morning from Deutsche Bank, Leerink Swann, Baird, andCowen. Shares are down 16% at $35.14.

Based upon what we are seeing from the trends in earnings warnings, if a company is only going to fall short of estimates by 10% or 15% then they better get that data out while Wall Street is still in a decent mood before the holiday bills and pink slips coincide with each other in January and February. We did not include the financial firms nor any companies who are entirely tied to the auto industry in any of this analysis. The reasons should be evident as to why.

Jon C. Ogg
December 12, 2008

Posted in Earnings Warning, Economy, Trading Alert Tagged: FUL, LSCC, STLD, UTX, WAT

52-Week Low Club (AEG, AMD, BKD, CHRT, CMG, CVI, GEHL, JOBS, LRCX, LSCC, MNI, MU, MSA, NOOF, RYL, THQI, VMED, WSM)

247wallst — Mon, 28 Jul 2008 14:54:04 +0000

Today was another ugly day on Wall Street as sellers are winning over the conviction that the rumors that the bear was dead might be grossly exaggerated. You’ll probably recognize many chip stocks on here today. While financials led the selling today, most financial stocks were not on 52-week lows. Here are today’s stocks that hit new 52-week lows:

Aegon (NYSE: AEG)
Advanced Micro Devices (NYSE: AMD)
Brookdale Senior Living (NYSE: BKD)
Chartered Semiconductor (NASDAQ: CHRT)
Chipotle Mexicann Grill (NYSE: CMG)
CVR Energy (NYSE: CVI)
Gehl Company (NASDAQ: GEHL)
51Job inc.. (NASDAQ: JOBS)
Lam Research (NASDAQ: LRCX)
Lattice Semiconductor (NASDAQ: LSCC)
McClatchy (NYSE: MNI)
Micron Tech (NYSE: MU)
Mine Safety Appliances (NYSE: MSA)
New Frontier (NASDAQ: NOOF)
Ryland Group (NYSE: RYL)
THQ Inc. (NASDAQ: THQI)
Virgin Media Inc. (NASDAQ: VMED)
William Sonoma (NYSE: WSM)

Jon C. Ogg
July 28, 2008

52-Week Low Club: Transport, Semiconductors & Financials (January 2, 2008)

247wallst — Wed, 02 Jan 2008 16:23:11 +0000

Truckers led the drop after a fake $100 oil print and after a YRC Worldwide (NASDAQ: YRCW) acquisition write-down, pulling down Arkansas Best (NASDAQ: ABFS) and others. With no surprise, airlines followed suit with Airtrain (AAI), AMR Corp. (NYSE: AMR), Continental Airlines (NYSE:CAL), Delta (NYSE: DAL), FedEx (FDX), Jetblue (NASDAQ:JBLU), Mesa Air (NASDAQ: MESA), Northwest Air (NYSE: NWA), Southwest Airlines (NYSE:LUV), US Air (NYSE: LCC).

Chip and tech stocks on 52-week lows: AMAT, AMD, ADTN, ARRS, ATML, BBND, CHRT, FCS, FEIC, IDTI, IM, KLAC, KLIC, LRCX, LSCC, LSI, MCRL, MRVL, MU, NSM, STM, TER, XLNX

Financial Giants on 52-Week lows: BAC, BBT, BSC, CYN, DFG, EFX, FIC, FITB, FHN, MCO, NCC, PNSN, SNV, SBP, WFC, ZION.

We kept the REIT’s and the usual suspects in retail off the list that have been here day in and day out (although many hit new 52-week lows). Here is the huge list of others 52-week lows:

Automatic Data (ADP), Cardinal Health (CAH), Career Education (CECO), Diebold (NYSE: DBD), EchoStar (DISH), Superior Offshore (DEEP), Dow Chemical (DOW), Eastman Kodak (EK), Emmis (EMMS), Ford (F), Fortune Brands (FO), General Motors (GM), Hasbro (HAS), Helen of Troy (HELE), Interpublic (IPG), Mattel (MAT), McClatchy (MNI), Media General (MEG), Nortel Networks (NT), Owens Corning (OC), Paychex (OPAYX), PHH Corp. (PHH), Playboy (PLA), Radio Shack (RSH), Rite Aid (RAD), Sherwin Williams (SHW), Sprint Nextel (S), Starbucks (SBUX), Starwood Hotels (HOT), Sun Microsystems (JAVA), Symantec (SYMC), Travelzoo (TZOO), VF Corp (VFC), Warner Music Group (WMG), Waste Management (WMI), Weight Watchers (WTW), Wendy’s (WEN)

Imagine how large this list would have been if retailers and REIT’s were included.
Jon C. Ogg
January 2, 2008