Flip Chip, flipped, attached to the carrier, underfilled, illustration made for Flip Chip (Photo credit: Wikipedia)
BESI : ENXT : €6.83
BESIY : OTC
BE Semiconductor Industries N.V. (Besi) develops, manufactures, and sells semiconductor assembly equipment designed to increase productivity, improve yields of defect-free devices and reduce cost of ownership. The company’s products are designed for use in two manufacturing echnologies: leadframe assembly and wafer level packaging.
ADVANCED PACKAGING DRIVES UPSIDE
We reiterate a BUY rating on shares of BESI following strong results and
guidance. We believe BESI will benefit from continued strong demand
for flip chip die bonding advanced packaging systems from new Asian
subcontractors in the smartphone and tablet supply chain. We expect
EPS to benefit from expanding gross margins and tighter opex controls.
We are increasing our estimates and raising our price target to €8.00.
BESI reported Q1/13A (Mar. Revenues and EPS were €64 million and €0.10, compared to our estimates of €59 million and €0.03. Revenue was up 14% Q/Q (+15% Y/Y), and came in above guidance of 5% sequential growth, driven by strong demand for advanced packaging systems. EPS benefited from better-thanexpected gross margins (39.6% vs. guide of 37%-39%).
Management guided Q2 revenue to be up 10% Q/Q, based on the 23% sequential order increase in Q1 and continued strong demand for advanced packaging systems.
BESI’s price target of €8.00 (was €7.00), is 8x our C2014 EPS estimate of €0.78 plus net cash of €1.72/share.
Posted by jackbassteam on April 26, 2013
Suffrage paraders: Mrs. McLennan, Mrs. Althea Taft, Mrs. Lew Bridges, Mrs. Burleson, Alberta Hill, Miss Ragsdale (LOC) (Photo credit: The Library of Congress)
NASDAQ : US$13.61
Disappointing revenue guidance sent shares of Omnivision lower on Friday, but Canaccord Technology Analyst Bobby Burleson expects a rebound considering:
1) design wins are strong with Chinese smartphone OEMs, who are likely to grow global market share;
2) OVTI’s Apple (AAPL) smartphone prospects were already dim; and
3) valuation is compelling even with a number cut.
OVTI reported Q4 Revenues and EPS of $423.5 million and $0.56, compared to consensus estimates of $411 million/$0.41 and Burleson’s estimates of $410 million/$0.41. Management guided Q1/C13 (Apr) to be down sequentially 25% Q/Q at the mid-point, with revenues expected to be $300-330 million and EPS is expected to be $0.14-0.29. This compared to consensus estimates of $371 million/$0.32 and Burleson’s estimate of $375 million/$0.36.
On the weak guidance, Burleson revised his estimates for the company, now seeing Q1 revenue coming in at $315 million (down from $375
million) and full-year revenue being $1.415 billion (down from $1.587 billion). On the earnings front, he sees Q1 EPS of $020 (down from $0.36) and for the full year, he sees $1.62 (down from $1.24).
Posted by jackbassteam on March 5, 2013
Cooper Tire & Rubber Company (Photo credit: Wikipedia)
CTB : NYSE :
Cooper Tire & Rubber’s fourth-quarter earnings fell 65% as the year-earlier period had a large taxbenefit, masking revenue growth and sharply higher margins as the company benefited from declining raw materials costs.
The company reported a profit of $73 million, or $1.15 a share, down from $209 million, or $3.33 a share, a year earlier while revenue increased 2.3% to $1.06 billion. Analysts had projected earnings of $0.85 on revenue of $1.03 billion.
Sales in the company’s North American segment, which provides the majority of revenue, grew 5.2% thanks to improved volume and higher prices. “A strong fourth quarter capped off a great year,” said Chief Executive Officer Roy Armes. “Due in large part to successful product launches and demand for our products, the company has increased unit volumes and outpaced the industry in our key markets for the full year.”
However, the company views 2013 with cautious optimism amid continued uncertainty about the economy. Cooper expects that raw material costs in the current quarter will be about the same as during the fourth quarter, which represented a 2% decrease from the third quarter. However, over the longer term raw material prices are expected to generally trend higher.
Posted by jackbassteam on February 27, 2013
John Deere 2130 Tractor (Photo credit: Odalaigh)
DE : NYSE :
The Big Green Profit Machine.
Deere saw a 22% increase in its Q1 earnings, driven by better sales in North America. Deere reported a profit of $649.7 million, or $1.65 a share, versus a year-earlier profit of $532.9 million, or $1.30 a share. Total revenue, which includes Deere’s finance unit, grew 10% to $7.42 billion.
Analysts had forecast earnings of $1.40 a share on $6.72 billion in total revenue.
The company’s overall equipment sales in the U.S. and Canada, including construction and forestry equipment, rose 18% during the first quarter from a year earlier. The company now expects to earn $3.3 billion in profit this year, implying earnings per share of $8.45. The company had previously forecast $3.2 billion in profit.
Deere expects equipment sales to rise 6% this year to $35.5 billion, up from 5% previously. Analysts had expected the company to earn $8.37 a share from sales of $35.2 billion.
Posted by jackbassteam on February 15, 2013
Archer Daniels Midland (Photo credit: Wikipedia)
Archer Daniels Midland
(ADM : NYSE : US$29.38)
Seeds of growth.
Archer Daniels Midland reported an improved quarterly profit on Tuesday, as strong demand for oilseeds helped the agricultural giant shake off the impact of a historic U.S. drought.
In Q2, the company earned $510 million, or $0.77 per share, up from $80 million, or $0.12 per share, in the same period a year earlier. Adjusted earnings were $0.60 per share, up from $0.51 in the same period last year while total revenue was $24.92 billion, up from $23.31 billion a year earlier.
Analysts projected earnings of $0.58 per share on revenue of $21.22 billion. ADM’s U.S. soybean operations ran at record capacity during the quarter ended December 31 amid firm export demand for soybean meal, helping drive the solid results. Processors also stepped up crushing of soybeans because the drought-hit U.S. soybean harvest this year produced a lower soymeal yield.
“We fully utilized our oilseeds crushing capacity to meet strong global demand, and we adjusted our transportation and origination network to move goods efficiently despite constrained river traffic and a smaller corn crop,” ADM Chief Executive Patricia Woertz said in a statement.
Posted by jackbassteam on February 7, 2013
Broadcom (Photo credit: Wikipedia)
BRCM : NASDAQ : US$33.71
Broadcom is a global leader in semiconductor products for wired and wireless communications. Broadcom operates in three key business groups: Mobile & Wireless, Infrastructure & Networking, and Broadband Communications.
We reiterate a BUY rating and $40 target for Broadcom following strong results and a guide impacted by a soft macro environment across multiple
verticals. We expect strong design win momentum for Mobile and Wireless combined with a cessation of macro headwinds to drive above
seasonal recovery in H2/13. Our estimates are trimmed on Q1 headwinds.
BRCM reported Q4/12 (Dec) after the close. Revenues and EPS were $2.080 billion (-2% Q/Q) and $0.76. This compared to consensus of
$2.066 billion and $0.73 and our estimates of $2.060 billion and $0.75. Broadband grew 1% sequentially, while Mobile & Wireless (-
1% Q/Q) and Infrastructure & Networking (-9% Q/Q) declined sequentially.
The company guided MarQ revenue down 9% Q/Q at the midpoint ($1.9 billion), below the consensus view of $2.004 billion and our estimate of $2.015 billion. Implied EPS guidance of $0.54 was below consensus expectation of $0.
Infrastructure & Networking, while Mobile & Wireless is expected to decline slightly worse than 9% sequentially.
BRCM raised its quarterly dividend 10% from $0.10 to $0.11.
BRCM’s price target of $40 is 13x our C2014 EPS estimate of $3.06 plus net cash of $1.62/share.
Posted by jackbassteam on January 31, 2013
Tata/MDI CAT compressed air car (Photo credit: Wikipedia)
Westport Innovations (WPT : TSX : $24.19
Management expects revenue growth for the year to be about 30%, down from its earlier expectations for 50% growth.
All in, revenue is expected to be between $340 million and $350 million, down from earlier guidance for revenue in the range $400- 425 million. Management cited a reduction in inventory by clients amidst economic worries and delays in the availability of liquefied natural gas infrastructure as reasons for the reduced guidance.
CEO David Demers said ” We have a storong balance sheet and our asset-light business model allows us to remain competitively positioned. To help mitigate further contraction in overall transportation markets, we expect a number of key product launches in our automotive, trucking and off-road applications in 2013.”
Separately, the company also announced a deal with India’s largest auto company, Tata Motors to develop an engine for light- and medium-duty trucks and buses. Financial terms were not disclosed.
Posted by jackbassteam on October 31, 2012
Image via CrunchBase
SanDisk (SNDK : NASDAQ : US$44.02)
pn a flash! SanDisk bucked the broader trend on Friday, after the maker of flash memory for mobile devices reported
quarterly profit and revenue that beat analysts’ estimates on strong retail sales and high demand for mobile devices.
Thirdquarter earnings were $0.48 a share on sales of $1.27 billion; analysts on average had estimated profit of $0.34 on revenue of
$1.22 billion. The company said it benefited from robust demand from manufacturers of hand-held devices that use its type of
memory, which is more compact and easier to update than other kinds.
Profit was also boosted by increasing chip prices.Analysts note SanDisk is definitely benefiting from reductions in NAND supply, saying it’s clearly outperforming and the stars have aligned at least for the near term. Going forward, the company is planning to focus more on the iNAND technology, as this is going to be a driver for its mobile-embedded products. It expects the launch of several new smartphones and tablets,
Ultrabooks and other end-client PCs, running on solid-state drives, which should boost demand for NAND Flash gadgets.
Posted by jackbassteam on October 22, 2012