24/7 Wall St. » RFMD

Oppenheimer Has Seven Top Tech Stocks to Buy (BRCM, LLTC, MXIM, MSCC, RFMD, SMTC, SWKS, AAPL)

Lee Jackson — Wed, 10 Apr 2013 12:25:08 +0000

Technology stocks lagged the overall market over the last year. What is interesting is that there is a consensus among Wall St. firms that technology is poised for a solid 2013. The continued sales growth of smartphones (90% of all phones purchased in the past year were smartphones) and tablets is driving semiconductor sales. The technology team at Oppenheimer notes in a new report that sentiment has improved and expectations are high. They also note that semiconductor stocks have done tremendous over the past three years, and 2013 looks to be more of the same.

Since smartphones and tablets continue to be the top driver of growth, Oppenheimer believes that the stocks most closely aligned with that growth will prove to be the big winners. In the report, the analysts detail the seven stocks to buy that fit the bill, and could provide investors with yet another winning second quarter. The following are seven stocks to buy now.

Broadcom Corp. (NASDAQ: BRCM) tops the stocks to buy. With 32% of total sales from industry giants Samsung and Apple Inc. (NASDAQ: AAPL), second quarter earnings may be outstanding. The Oppenheimer price target for the stock is $45. The Thomson/First Call estimate is 10% lower at $40.

Linear Technology Corp. (NASDAQ: LLTC) makes the list. This top-rated analog semiconductor stock also pays shareholders a nice 2.90% dividend. The Oppenheimer price objective is $43, but the Wall St. consensus is lower at $37.

Maxim Integrated Products Inc. (NASDAQ: MXIM) is on board. Oppenheimer notes this wireless chip leader has a strong and focused management team. Their price target for the stock is $38. The consensus is $35.

Microsemi Corp. (NASDAQ: MSCC) joins the Oppenheimer list. With a robust semiconductor product line and worldwide sales, the price target for this name is $28. The consensus target is $26.

RF Micro Devices Inc. (NASDAQ: RFMD) makes the list, and it was one of our top names under $10 to buy. The Oppenheimer price target for this wireless upstart is $7. The consensus target is at $6.50.

Semtech Corp. (NASDAQ: SMTC) is a stock to buy now. It has newly unveiled components that will allow higher resolution video streaming, and the Oppenheimer price target is $41. The consensus target is $38.

Skyworks Solutions Inc. (NASDAQ: SWKS) rounds out the Oppenheimer list of top stocks to buy. This maker of wireless semiconductors has benefitted from the surge in the global LTE market and derives a quarter of its revenue from Samsung and Apple. The Oppenheimer price target is $32, and the consensus is at $30. A move to either target level would represent a more than 35% increase from current trading levels.

With numerous companies ready for their next generation products to be unveiled, it looks like investors can feel comfortable in the growth trajectory of these stocks. We know from experience that technology seemingly knows no bounds, and products that are new this year will be so 2013 before you know it.

Filed under: Active Trader, Analyst Calls, Technology Companies Tagged: AAPL, BRCM, featured, LLTC, MSCC, MXIM, RFMD, SMTC, SWKS

Stocks Under $10 Where Analysts See Big Upside (EGHT, ONNN, RFMD, AMCC, BPZ, WETF, BIOL, ALU, DB, SPY, AAPL)

Lee Jackson — Thu, 04 Apr 2013 12:45:25 +0000

If there is such a thing as conventional wisdom in investing, which may be doubtful, one often touted rule is to avoid low-priced stocks. The most common reason given for this advice is often that they are low-priced for a reason. Fair enough, but it is important for investors to remember that at one time smartphone and tablet giant Apple Inc. (NASDAQ: AAPL) was a single-digit priced stock. Investors who bought Apple at the bottom made a tremendous amount of money.

Another reason cited by some trading pundits is that low-priced stocks, especially those under $5, are not marginable. Again, a true statement. Investors looking to get leverage on stocks have a built-in advantage with low-priced names. They already are priced low, so more shares can be bought and require less capital than high-priced stocks. In addition, many low-priced shares have options traded on the underlying shares. Investors can always seek leverage via the option markets.

We looked through our research database for solid names that not only had good stories, but had Wall St. coverage. Typically the last thing large bulge bracket firms, or any firm for that matter, wants to do is pitch a low-priced name that gets crushed. Here are the names we found that investors may want to consider.

8×8 Inc. (NASDAQ: EGHT) kicks off the under $10 list. The company offers voice over Internet protocol (VoIP) telephone service in addition to contact centers, web-based conferencing and cloud-based computing services. Often rumored as a takeover candidate, the stock was raised to Outperform by Northland Capital in March with an $8 price target. The Thomson/First Call estimate for the stock is actually higher at $9.

Recently upgraded to buy at Bank of America/Merrill Lynch and Goldman Sachs, ON Semiconductor Corp. (NASDAQ: ONNN) fits the bill. ON Semiconductor designs, manufactures and markets semiconductor components for electronic systems and products worldwide. The Merrill Lynch price target for the stock is $11. The Wall St. consensus estimate is $10.

Oppenheimer recently raised wireless chip maker RF Micro Devices (NASDAQ: RFMD) to outperform status. It also put a $7 price target on the stock. The consensus estimate is $6.

Another solid semiconductor stock to make the list is Applied Micro Circuits Corp. (NASDAQ: AMCC). After it recently announced that eight of the worlds largest optical module manufacturers are using its S28032 multiplexer, the industry’s fastest, lowest power transmitter solution, analysts are expecting year-over-year revenue growth for the first quarter to be up close to 15%. The consensus price target is $10.25.

Investors willing to bet on future success may want to look at BPZ Resources Inc. (NYSE: BPZ). Owning license agreements for oil and gas production on 1.9 million acres of land in Peru, it is waiting for its earnings ship to come in. Analysts at Raymond James who cover the stock are looking for an almost 25% increase in revenue from 2013 to 2014. The consensus price target for the stock is $5.25. That represents a 100% increase from current trading levels.

Another stock that barely squeaks under the $10 level to make our list is exchange traded fund (ETF) sponsor and manager, Wisdom Tree Investments Inc. (NASDAQ: WETF). Having already made a solid run this year, Wisdom Tree is a stock to buy at Merrill Lynch with an $11 target. The consensus estimate is a touch higher at $11.50.

A smaller medical device name to grace our under $10 list is dentistry laser manufacturer BIOLASE Inc. (NASDAQ: BIOL). Allowing dentists to perform a multitude of procedures, the laser surgery is far less painful to the patient than more conventional and invasive surgeries. It has virtually no debt and revenues growing, and Northland Capital recently upgraded the stock to outperform with a $7 target. The consensus target is $5.22.

The ultimate low-priced stock with potential, telecommunications giant and perennial underachiever Alcatel-Lucent S.A. (NYSE: ALU) was promoted from Hold to a stock to buy at Deutsche Bank A.G. (NYSE: DB) today. Already gapping up more than 10% in premarket trading, this ill-fated combination of the old Bell Labs, which was renamed Lucent, with France’s national phone company Alcatel, has frustrated investors for years with a chain of bad management and industry missteps. The consensus price target for the stock is $1.57. That may be eclipsed today after their upgrade.

We always stress to our readers that it is important to do your own due diligence when considering any stock purchase. All things being equal, you are always “safer” owning the bluest of blue chips or the SPDR S&P 500 (NYSEMKT: SPY) ETF. Taking a shot at quality lower priced names that have Wall St. coverage and visibility might be a great way to add some of that vaunted Alpha to your portfolio.

Filed under: Active Trader, Analyst Calls, Cult Stock, Value Investing Tagged: AAPL, ALU, AMCC, BIOL, BPZ, DB, EGHT, featured, ONNN, RFMD, SPY, WETF

Top 10 Analyst Upgrades and Downgrades (APC, AAPL, BSFT, CAT, EA, FIO, GMAN, BTU, RFMD, TI)

Jon C. Ogg — Tue, 26 Mar 2013 12:40:32 +0000

Investors and traders are constantly looking for new ideas that will generate profits. 24/7 Wall St. looks over research calls from all over to find great ideas, from value stocks to dividends to growth stocks. Many research-driven ideas for stocks to buy and stocks to sell come from independent research firms. Some also come from the large sell-side investment banking firms on Wall St.

These are some of this Tuesday’s top analyst upgrades, downgrades and initiations seen from select Wall St. research calls.

Anadarko Petroleum Corp. (NYSE: APC) reiterated Outperform and target raised to $109 from $99 at Credit Suisse.

Apple Inc. (NASDAQ: AAPL) maintained Outperform but target price cut to $550 from $600 at Oppenheimer.

BroadSoft Inc. (NASDAQ: BSFT) raised to Market Perform from Underperform at Raymond James.

Caterpillar Inc. (NYSE: CAT) maintained Positive but target cut by $9 to $109 and estimates were lowered at Susquehanna.

Electronic Arts Inc. (NASDAQ: EA) raised to Overweight at Piper Jaffray.

Fusion-io Inc. (NYSE: FIO) started as Perform at Oppenheimer.

Gordmans Stores Inc. (NASDAQ: GMAN) cut to Neutral at Piper Jaffray and cut to Hold at Stifel Nicolaus.

Peabody Energy Corp. (NYSE: BTU) raised to Outperform at Raymond James.

RF Micro Devices Inc. (NASDAQ: RFMD) raised to Outperform at Oppenheimer.

Telecom Italia S.p.A. (NYSE: TI) cut to Equal Weight at Barclays.

Deutsche Bank came up with a list of the next winners for the secular bull market. This list is great and includes themes for global growth, capital expenditure, dividend growth, debt capacity and economic profit growth. Also, here are that firm’s top picks in the regional and money center banks.

Filed under: Active Trader, Analyst Calls Tagged: AAPL, APC, BSFT, BTU, CAT, EA, FIO, GMAN, RFMD, TI

Top Analyst Upgrades and Downgrades (ALU, MT, BBRY, BIP, BG, CAT, FSLR, GOV, HPQ, HD, ISRG, MCD, MDT, RFMD, S, TASR, TNK, PAY, VVUS, WEN, XRX, AGU, CF, MOS, POT, RNF)

Jon C. Ogg — Fri, 22 Feb 2013 13:30:13 +0000

These are some of this Friday’s top analyst upgrades, downgrades and initiations seen from Wall St. research calls.

Alcatel-Lucent S.A. (NYSE: ALU) was given positive comments on its new CEO but the stock was maintained a Sell as a low value asset at Goldman Sachs.

ArcelorMittal (NYSE: MT) raised to Neutral at HSBC.

BlackBerry (NASDAQ: BBRY) cut to Sell from Neutral at MKM Partners.

Brookfield Infrastructure Partners L.P. (NYSE: BIP) named Bull of the Day at Zacks as the “high quality, diversified assets will continue to produce solid and consistent cash flows.”

Bunge Ltd. (NYSE: BG) was named by Zacks as the Bear of the Day and the firm said that bitter results for the recent quarter indicate more troubles ahead.

Caterpillar Inc. (NYSE: CAT) raised to Outperform at Raymond James.

First Solar Inc. (NASDAQ: FSLR) cut to Underperform at Pac-Crest.

Government Properties Income Trust (NYSE: GOV) cut to Sector Perform from Outperform at RBC.

Hewlett-Packard Co. (NYSE: HPQ) raised to Neutral from Sell with $19 target at UBS and maintained Neutral but raised target price to $20 from $12 at Credit Suisse.

The Home Depot Inc. (NYSE: HD) raised to Outperform and target raised to $76 from $67 at Oppenheimer (full summary).

Intuitive Surgical Inc. (NASDAQ: ISRG) raised to Buy at Goldman Sachs.

McDonald’s Corp. (NYSE: MCD) reiterated Outperform and raised target $2 to $104 at Credit Suisse.

Medtronic Inc. (NYSE: MDT) reiterated Buy and raised target by $6 to $54 at Argus.

RF Micro Devices Inc. (NASDAQ: RFMD) raised to Buy at Lazard and cut to Market Perform at Raymond James last night.

Sprint Nextel Corp. (NYSE: S) reiterated Buy with $7.50 price target at Argus as trading falls below Softbank offer price (full report summary).

TASER International Inc. (NASDAQ: TASR) raised to Overweight at J.P. Morgan.

Teekay Tankers Ltd. (NYSE: TNK) cut to Market Perform at Wells Fargo.

VeriFone Systems Inc. (NYSE: PAY) cut to Hold at Argus after many downgrades and implosion yesterday.

Vivus Inc. (NASDAQ: VVUS) maintained Buy but lowered price target to $26 from $30 at BofA/Merrill Lynch after Qsiva denied approval in Europe.

The Wendy’s Co. (NASDAQ: WEN) cut to Underperform from Neutral at Credit Suisse.

Xerox Corp. (NYSE: XRX) reiterated Buy with $13 price target at Argus.

Dahlman Rose trimmed potash and fertilizer stock ratings: Agrium (NYSE: AGU) cut to Sell, CF Industries (NYSE: CF) cut to Sell, Mosaic Co. (NYSE: MOS) cut to Hold, Potash Corp. of Saskatchewan (NYSE: POT) cut to Sell and Rentech Nitrogen Partners L.P. (NYSE: RNF) cut to Sell.

Filed under: 24/7 Wall St. Wire, Analyst Calls Tagged: AGU, ALU, BBRY, BG, BIP, CAT, CF, FSLR, GOV, HD, HPQ, ISRG, MCD, MDT, MOS, MT, PAY, POT, RFMD, RNF, S, TASR, TNK, VVUS, WEN, XRX

Five Top Stock Picks Under $15 from Cantor Fitzgerald’s 2013 Conviction Buy List (AHT, CLDX, RFMD, UNIS, VHS)

Lee Jackson — Thu, 10 Jan 2013 14:02:14 +0000

For the very first time in their long and storied history, Cantor Fitzgerald has come out with a list outlining its top stock picks for the year. Long respected as a premier fixed income trading firm that specialized in U.S. Treasury bonds, Cantor Fitzgerald was rebuilt and reborn after the tragic events of 9/11 when more than two-thirds of its workforce was killed in the attacks on the World Trade Center.

In stark comparison to many Wall St. firms, Cantor Fitzgerald has remained more of a boutique type shop when it comes to equity research. Rather than trying to be all things to all people, the firm focuses on specific niche areas of the market where it can provide truly deep and extensive coverage. The focus of coverage is on Internet, media, technology, commercial real estate, health care and consumer names.

Our reason for focusing on the lower priced names in their Conviction List is twofold. First it provides investors the ability to buy more shares of a company they find attractive. Also, the lower priced names allow for investors to purchase more names to add diversification to their portfolios. Here are the top five names trading under $15:

Celldex Therapeutics Inc. (NASDAQ: CLDX). This biopharmaceutical company focuses on the development, manufacture and commercialization of novel therapeutics for human health care, primarily in the United States. The stock closed yesterday at $7.21, and Cantor Fitzgerald has a $9 price target.

RF Micro Devices Inc. (NASDAQ: RFMD). The company designs, develops, manufactures and markets radio frequency (RF) components and compound semiconductor technologies, primarily in the United States and Asia. It was at $4.74 at yesterday’s close, and the price target is $8.

Unilife Corp. (NASDAQ: UNIS). Shares of this designer, developer, manufacturer and commercializer of injectable drug delivery systems in the United States and internationally closed yesterday at $2.34. The price target is $7.50.

Ashford Hospitality Trust Inc. (NYSE: AHT). This one is a publicly owned real estate investment trust that engages in investment and management of properties in the hospitality industry. Shares ended the session yesterday at $11.04, and the price target is $12.

Vanguard Health Systems Inc. (NYSE: VHS). This owner and operator of acute care and specialty hospitals and outpatient facilities in urban and suburban markets in the United States closed yesterday at $12.48. Cantor Fitzgerald has a $15 price target.

Many Wall St. firms focus only on the biggest and most liquid stocks and are often reluctant to present lower priced names to their clients. But since most investors do not have an unlimited pool of capital to buy and trade stocks with, lower priced quality names might just be the avenue for some big investment gains.

Filed under: 24/7 Wall St. Wire, Analyst Calls Tagged: AHT, CLDX, RFMD, UNIS, VHS

Short Sellers Attack Tech

Douglas A. McIntyre — Wed, 28 Nov 2012 11:31:21 +0000

Short sellers pressed into tech and Internet stocks during the period that ended November 15, a gamble that consumer spending on and business investment in electronics products and IT are not nearly as robust as expected. Additionally, companies that may have trouble moving into the portable device market were attacked

The short interest in Microsoft Corp. (NASDAQ: MSFT) rose 11% to 109.8 million shares. Shorts built that position just as Windows 8 was launched, and at about the same time as PC companies released poor results based largely on the move of computing to smartphones and tablets. Shares sold short in Dell Inc. (NASDAQ: DELL) rose 12% to 57.6 million. Even Apple Inc. (NASDAQ: AAPL) was not immune. The short interest in Apple’s shares rose 28% to 21.6 million, a shock because Apple’s shares have done so extraordinarily well.

Internet stocks did not do much better, again perhaps because not all Internet companies have been able to move their PC-based models to smartphones. The short interest in Yahoo! Inc. (NASDAQ: YHOO) rose 22% to 32.7 million, despite the market’s positive reception to new CEO Marissa Mayer. Shares short in newer companies that rely on the Internet also rose. The short position in Facebook Inc. (NASDAQ: FB) increased 8% to 95.3 million. Shares short in Groupon Inc. (NASDAQ: GRPN) rose 21% to 43.5 million.

The corporations that have lost the hardware race in the smartphone industry also did poorly. Shares short in Seagate Technology PLC (NASDAQ: STX) rose 17% to 36.5 million. The short interest in Texas Instruments Inc. (NASDAQ: TXN) moved up 23% to 26.8 million. Shares sold short in RF Micro Devices Inc. (NASDAQ: RFMD) were up by 18% to 14 million. The short position in Silicon Image Inc. (NASDAQ: SIMG) grew 216% to 7.5 million

Another set of companies that Wall St. worries will not do well on portable platforms are those in the video game sector. The short interest in Electronic Arts Inc. (NASDAQ: EA) rose 10% to 19.2 million shares. Shares short in Take-Two Interactive Software Inc. (NASDAQ: TTWO) increased 11% to 18.2 million.

Data from Nasdaq and NYSE.

Douglas A. McIntyre

Filed under: 24/7 Wall St. Wire, Internet, PC Companies, Short Interest, Software, Technology Companies Tagged: AAPL, DELL, EA, FB, featured, GRPN, MSFT, RFMD, SIMG, STX, TTWO, TXN, YHOO

Top Active Trader Alerts, Major Stocks on the Move (BWLD, FB, IRBT, INVN, NFLX, PNRA, RFMD, SIRI, SCMR, TPX, UTHR, ZNGA)

Jon C. Ogg — Wed, 24 Oct 2012 12:46:05 +0000

We have many stocks on the move this morning. The following are the stocks to watch for active traders this Wednesday: Buffalo Wild Wings Inc. (NASDAQ: BWLD); Facebook Inc. (NASDAQ: FB); iRobot Corp. (NASDAQ: IRBT); InvenSense Inc. (NYSE: INVN); Netflix Inc. (NASDAQ: NFLX); Panera Bread Co. (NASDAQ: PNRA); RF Micro Devices Inc. (NASDAQ: RFMD); SIRIUS XM Radio Inc. (NASDAQ: SIRI); Sycamore Networks Inc. (NASDAQ: SCMR); Tempur-Pedic International Inc. (NYSE: TPX); United Therapeutics Corp. (NASDAQ: UTHR); and Zynga Inc. (NASDAQ: ZNGA). We have shown the moves and given a brief summary on each.

Buffalo Wild Wings Inc. (NASDAQ: BWLD) is going to be down handily and shares are indicated under $75 after closing at $83.46 on Tuesday. Profits failed to meet estimates. Store growth looked slower as well. The prior 52-week range is $58.08 to $94.81.

Facebook Inc. (NASDAQ: FB) has soared after earnings, and we have even seen two analyst upgrades from Citi and Bank of America; shares are up 20% at $23.55 and trading volume is very active.

iRobot Corp. (NASDAQ: IRBT) is way down and trading even worse than last night, with shares under $20.00 against a 52-week range of $19.09 to $38.33. While it grew, it said with earnings that the 2012 outlook for D&S has deteriorated and it expect further declines in 2013. Volume is light but shares are around $19 after closing at $22.64.

InvenSense Inc. (NYSE: INVN) was up 1.6% yesterday. That was before its earnings report. The company said that Steven Nasiri will step down as CEO and chairman effective immediately. Shares are down almost 12% at $12.49, but shares were down as much as 18% at $10.20 last night, against a 52-week range of $8.25 to $22.35.

Netflix Inc. (NASDAQ: NFLX) was a total disappointment on the earnings and growth front. Shares are down a whopping $11.30, or 16.6%, at $56.90 in trading volume that does not feel as active as it would have a year ago or so.

Panera Bread Co. (NASDAQ: PNRA) bucked the bad news trend from restaurants. Along with a 27% gain in its profits, guidance was positive and ahead of estimates. Shares are up 5.4% at $169.00 in the after-hours session against a 52-week range of $114.58 to $175.26.

RF Micro Devices Inc. (NASDAQ: RFMD) rose yesterday, rose in the after-hours and also is up even more this morning. Revenue rose sequentially to $209.7 million and sees the current quarter at $245 million due to improvements. Shares are now up by almost 16% to $4.55 this morning, and its 52-week range is $3.45 to $7.89.

SIRIUS XM Radio Inc. (NASDAQ: SIRI) is down 2.4% at $2.80 after Mel Karmazin said he was resigning. Make no mistake: this was a John Malone push-out in that fight for control of the company.

Sycamore Networks Inc. (NASDAQ: SCMR) is selling a unit, looking to sell another line and then plans to close down the company and distribute its assets to shareholders in a special cash dividend. Adios! Shares are down more than 7% at $5.55 so far this morning.

Tempur-Pedic International Inc. (NYSE: TPX) has bed bugs if its earnings and guidance are any read. Shares were down 4.6% yesterday and the stock is down 18.6% at $25.95 so far this morning. Posting a quarterly loss and a weaker-than-expected forecast is crushing this stock all over again. Keep in mind that the 52-week range is $20.70 to $87.43.

United Therapeutics Corp. (NASDAQ: UTHR) is trading down 12%, or almost by $6.50, to $46.79 in active trading. The company received a complete response letter for its Oral Treprostinil new drug application, which means that the FDA did not approve its application.

Zynga Inc. (NASDAQ: ZNGA) shares are up 5% at $2.32 with a strong Facebook. After the layoff news yesterday, it was hard to not notice that Zynga is a dog, but still a dog that trades close to its book value now.

JON C. OGG

Filed under: 24/7 Wall St. Wire, Active Trader, Pre-Market Activity Tagged: BWLD, FB, INVN, IRBT, NFLX, PNRA, RFMD, SCMR, SIRI, TPX, UTHR, ZNGA

After-Hours Major Winners & Losers (BWLD, IRBT, INVN, PNRA, RFMD, TPX, UTHR)

Jon C. Ogg — Tue, 23 Oct 2012 21:19:34 +0000

We have several after-hours movers that we have not covered individually tonight. We have Netflix getting crushed and Facebook is rallying on mixed news. Here are some other stocks on the move after earnings. We are tracking big after-hours moves in the following: Buffalo Wild Wings, Inc. (NASDAQ: BWLD); iRobot Corporation (NASDAQ: IRBT); InvenSense, Inc. (NYSE: INVN); Panera Bread Company (NASDAQ: PNRA); RF Micro Devices, Inc. (NASDAQ: RFMD); Tempur-pedic International Inc. (NYSE: TPX); and United Therapeutics Corporation (NASDAQ: UTHR).

Impact of Apple’s Win over Samsung to Hit Chip Makers (AAPL, SSNLF, SWKS, QCOM, AVGO, NXPI, SNDK, INTC, CEVA, RFMD)

Paul Ausick — Tue, 04 Sep 2012 17:13:46 +0000

Following its recent court victory in a patent infringement suit, Apple Inc. (NASDAQ: AAPL) is seeking an injunction on the sale of a number of products from Samsung Electronics (OTC: SSNLF). Sterne Agee’s Vijay Rakesh has issued a note on the Samsung products that will be affected if the injunction is granted and the possible impact on the RF and PA (power amplifier) chip suppliers to Samsung.

Rakesh believes the Galaxy S, Galaxy S2 ATT, Galaxy 2S Tmobile, Galaxy 2S Epic 4G, Galaxy S 4G, Galaxy Prevail, Droid Charge, and Galaxy S2 are the devices that Samsung will not be allowed to ship into the U.S., but will still be available in other parts of the world. The Galaxy S3 and Galaxy Note could also be at risk for U.S. shipments.

The potential damage to Intel Corp. (NASDAQ: INTC) baseband-chip shipments is set by Rakesh at $60-$100 million. The potential harm to RF-PA chip suppliers is about $25 million per quarter. These suppliers include Skyworks Solutions Inc. (NASDAQ: SWKS), Qualcomm Corp. (NASDAQ: QCOM), Avago Technologies Ltd. (NASDAQ: AVGO), NXP Semiconductors NV (NASDAQ: NXPI), SanDisk Corp. (NASDAQ: SNDK), CEVA Inc. (NASDAQ: CEVA), and RF Micro Devices Inc. (NASDAQ: RFMD).

Rakesh also notes that older Samsung models used relatively more chips from Intel, CEVA, and RF Micro Devices. The new Galaxy S3 and Galaxy Note depend more heavily on chips from Qualcomm, Avago, and Skyworks.

The Sterne Agee note is available here.

Paul Ausick

Filed under: 24/7 Wall St. Wire, Law, Semiconductor, Semiconductors, Technology, Technology Companies, Telecom & Wireless Tagged: AAPL, AVGO, CEVA, INTC, NXPI, QCOM, RFMD, SNDK, SSNLF, SWKS

24/7 Wall St. Closing Bell — July 25, 2012: Markets Mixed on Spotty Earnings Reports

Paul Ausick — Wed, 25 Jul 2012 20:09:39 +0000

The three major US stock indexes opened mixed this morning with the Nasdaq Composite slightly negative on an unexpectedly weak earnings report from Apple Inc. (NASDAQ: AAPL) (more coverage here). A weak reading of consumer confidence in Germany (our coverage here), a negative rate of growth in the UK economy (our coverage here), and a negative report from the IMF on China (our coverage here) were offset by solid earnings reports from a number of big US companies, including Caterpillar Inc. (NYSE: CAT) and Boeing Co. (NYSE: BA) (more coverage here).

The US dollar index fell today, now down -0.55% at 83.539. The GSCI commodity index fell about -0.5% to 631.79, with commodities prices mostly higher today on the falling dollar. WTI crude oil rose 0.5% today, closing at $88.97/barrel. Brent crude trades up 0.98% at $104.43/barrel. Natural gas is down -3.5% today to $3.075/thousand cubic feet. Gold settled at $1,608.10/ounce, up 2%.

The unofficial closing bells put the DJIA up nearly 59 points to 12,676.05 (0.47%), the NASDAQ fell nearly 9 points (-0.31%) to 2,854.24, and the S&P 500 fell -0.03% or less than 1 point to 1,337.89.

There were several analyst upgrades and downgrades today, including RF Micro Devices Inc. (NASDAQ: RFMD) cut to ‘sell’ at UBS; Regions Financial Corp. (NYSE: RF) raised to ‘buy’ at SunTrust; ConAgra Foods Inc. (NYSE: CAG) started as ‘buy’ at KeyBanc; Chipotle Mexican Grill (NYSE: CMG) raised to ‘buy’ at Miller Tabak; and Apple Inc. cut to ‘outperform’ from ‘strong buy’ at Raymond James.

Earnings reports since markets closed last night have led to some price changes as of the last half hour of trading today: Cabot Oil & Gas Corp. (NYSE: COG) is down -0.3% at $39.37; Edwards Lifesciences Corp. (NYSE: EW) is up 6.2% at $104.76 after posting a new 52-week high of $106.94; EMC Corp. (NYSE: EMC) is down -0.75% at $25.15; Juniper Networks Inc. (NYSE: JNPR) is up 12.3% at $16.63; Norfolk Southern Corp. (NYSE: NSC) down -0.3% at $71.77; AOL Inc. (NYSE: AOL) is up 6.6% at $29.31 after posting a new 52-week high of $29.60 earlier today; ARM Holdings PLC (NASDAQ: ARMH) is up 9.9% at $24.55 (more coverage here); Caterpillar Inc. is up 1.3% at $82.52 (more coverage here); ConocoPhillips (NYSE: COP) is down -2.8% at $53.13 (more coverage here); Eli Lilly & Co. (NYSE: LLY) is up 2.9% at $43.21; General Dynamics Corp. (NYSE: GD) is down -2.2% at $62.00; Ford Motor Co. (NYSE: F) is down -1.1% at $8.96 (more coverage here); JetBlue Airways Corp. (NASDAQ: JBLU) is down -0.9% at $5.23 (more coverage here); Pepsico Inc. (NYSE: PEP) is up 2.1% at $70.25 (more coverage here); and Wellpoint Inc. (NYSE: WLP) is down -12.3% at $53.85 after posting a new 52-week low of $53.26.

After markets close today we are set to hear from Akamai Technologies Inc. (NASDAQ: AKAM), Angie’s List Inc. (NASDAQ: ANGI), Citrix Systems Inc. (NASDAQ: CTXS), LSI Corp. (NYSE: LSI), O’Reilly Automotive Inc. (NASDAQ: ORLY), and Tesla Motors Inc. (NASDAQ: TSLA) among many others.

Before markets open tomorrow we are scheduled to get earnings results from 3M Co. (NYSE: MMM), Alaska Air Group Inc. (NYSE: ALK), Alcatel Lucent SA (NYSE: ALU), Barrick Gold Corp. (NYSE: ABX) (more coverage here), Agco Corp. (NYSE: AGCO), CME Group Inc. (NASDAQ: CME), Colgate-Palmolive Co. (NYSE: CL), CONSOL Energy Inc. (NYSE: CNX), Green Dot Corp. (NYSE: GDOT), MetroPCS Communications Inc. (NYSE: PCS), PulteGroup Inc. (NYSE: PHM), and Syngenta AG (NYSE: SYT).

Some standouts from today include the following stocks:

Netflix Inc. (NASDAQ: NFLX) is down -24.4% at $60.75 after posting a new 52-week low of $59.20. The company flubbed quarterly results last night. More coverage here.

RadioShack Corp. (NYSE: RSH) is down -30.6% at $2.54 after posting a new 52-week low of $2.46 earlier today. The electronics retailer badly missed expectations. More coverage here.

Riverbed Technology Inc. (NASDAQ: RVBD) is up 26.9% at $18.47. The networking company handily beat estimates this morning.

Lumber Liquidators Holdings Inc. (NYSE: LL) is up 27.6% at $41.58 after posting an all-time high of $42.04 earlier today. The hardwood flooring company posted very strong results this morning.

Stay tuned for Thursday. We have noted the following events on the schedule (all times Eastern):

8:30 a.m. – Durable goods orders
8:30 a.m. – New claims for unemployment benefits
10:00 a.m. – Pending home sales
10:30 a.m. – EIA weekly natural gas storage report
11:00 a.m. – Kansas City Fed manufacturing index
1:00 p.m. – 7-year note auction
4:30 p.m. – Fed balance sheet and money supply

Paul Ausick

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