|Bid||83.74 x 1400|
|Ask||83.75 x 800|
|Day's Range||81.55 - 84.29|
|52 Week Range||80.95 - 103.59|
|Beta (3Y Monthly)||1.22|
|PE Ratio (TTM)||22.31|
|Earnings Date||Nov 19, 2018 - Nov 23, 2018|
|Forward Dividend & Yield||1.92 (2.28%)|
|1y Target Est||107.95|
Goldman Sachs warned clients to only buy chipmaker stocks with standalone value, as the firm sees a downturn coming to the semiconductor sector.
The PHLX Semiconductor Index (SOX) is down by 9.2% since a recent intraday high on Aug. 8, and Morgan Stanley sees more trouble ahead, per a report in Barron's. Back in 2015, chip stocks endured a decline of 30% from peak to trough, and the fundamentals today look equally troublesome, especially regarding excess inventories.
Semiconductor companies have started to feel the impact of the US-China trade war. In September, memory chip maker Micron Technology (MU) reported weaker guidance for the November quarter for several reasons, one of which was tariffs. It stated that the new tariffs would reduce its gross margin by 50–100 basis points.
The once red-hot semiconductor sector is slowing down, with one team of analysts cutting their stock estimates for the first time in three years. In a recent research note, Morgan Stanley analyst Craig Hettenbach lowered his estimates for the chip sector in the fourth quarter and the year ahead. Hettenbach also reduced his price forecast for seven stocks including Qorvo Inc. ( QRVO), Microchip Technology Inc. ( MCHP), and TE Connectivity Ltd. ( TEL).
Deutsche Bank reduces its 2019 earnings estimates by 5 percent on average for eight chip stocks, citing increasing weakness in business activity. The firm's analyst compares the current chip market to the industry downturn during the second half of 2015, which led to a 25 percent stock drop on average for semiconductor stocks. The semiconductor industry may be facing a significant downturn, according to Deutsche Bank.
NXP Semiconductor (NXPI) stock fell 5% on September 25 and closed at $86.51 per share. The company lost ~$1.6 billion in market value on the day. The stock is currently trading 2.3% above its 52-week low of $84.59 and 31.0% below its 52-week high of $125.93. This stock has been pummelled in 2018 with a fall of 26% this year. In the last three months, the stock has fallen 21%.
KeyBanc analyst Weston Twigg on Tuesday initiated coverage on 10 popular semiconductor stocks and downgraded another, but his across-the-board Sector Perform ratings suggest he’s not particularly confident in semis at the moment. “We're constructive on the long-term trajectory of the industry as new demand drivers emerge,” Twigg said. Twigg said semi companies with larger scale will likely be able to navigate the current environment best by investing in acquisitions and research.
Shares of Intel Corp. are down 1.1% in premarket trading Tuesday after Raymond James analyst Chris Caso downgraded the stock to underperform from market perform due to "a number of headwinds mounting against the company, set to impact longer-term growth expectations and profitability." He said that his meetings show more optimism for Intel competitors than in past years. "Intel's well documented CPU shortage persists through the September quarter," Caso wrote. "Some PC OEMs have shifted volume to Advanced Micro Devices Inc. as a result." He is more downbeat on the semiconductor sector in general, and he downgraded shares of Analog Devices Inc. , Microchip Technology Inc. , and ON Semiconductor Corp. to market perform from outperform on Tuesday as well. Intel shares are up 26% over the past 12 months, while the Dow Jones Industrial Average has gained 19%.
Analog Devices (ADI) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
Shares of semiconductor (SMH) company Micron Technology (MU) rose 4% on September 18. The stock is currently trading at $45.33, 33% above its 52-week low of $34.09 and 30% below its 52-week high of $64.66.
In this series, we’ll look at the top technology stocks that fell on September 17 and compare them with analysts’ estimates. Cree (CREE), the maker of lighting-class LED (light-emitting diode) and semiconductor products, fell 5.2% on September 17. It seems that Cree has been impacted by the overall weakness in the semiconductor industry.
In the previous part of this series, we looked at how Goldman Sachs’s (GS) concerns weighed on stocks last week. In early September 2018, investment firm Evercore ISI downgraded several semiconductor stocks. Evercore is one of the top research firms covering semiconductor stocks.
While it’s too early to tell for sure, there’s already speculation about which Apple suppliers have maintained their valuable positions in the firm’s new lineup of products.
Certainly, the fact that Renesas is a Japanese company, rather than an American one, might have much to do with the company's willingness to pull the trigger on a deal that will need to be approved by Chinese regulators. At a buyout price of $49 per share -- it spells an equity value of $6.7 billion, and an enterprise value of $7.2 billion -- Renesas is paying a 29% premium to where IDT closed on Aug. 30, prior to the company's initial disclosure that it was in buyout talks with IDT. Renesas sees the deal closing in the first half of 2019.
Congressional scrutiny of social media companies pummeled their stocks, but other tech stocks could soon be vulnerable to a new round of selling pressure if President Donald Trump goes through with new tariffs on Chinese goods.
A Wall Street investment bank on Tuesday re-rated a host of semiconductor industry stocks, downgrading several names with exposure to Nand memory chips and analog processors. Evercore ISI downgraded Seagate to underperform from in line.
Shares of semiconductor-equipment company KLA-Tencor Corp. (klac) are up 0.7% in premarket trading Tuesday after Evercore ISI analyst C.J. Muse upgraded the stock to outperform from in-line and raised his price target to $140 from $130.
Analog Devices, Inc. today announced that Senior Vice President, Finance and Chief Financial Officer Prashanth Mahendra-Rajah will speak at the Citi 2018 Global Technology Conference in New York, NY on Wednesday, September 5th, at 3:00 p.m.
From the floor of the New York Stock Exchange, Yahoo Finance's Jared Blikre joins Dan Howley to break down the latest market moves. Here's the performance of select risk markets as of 10:30 am EDT: NVDA Nvidia Corp 0.78% SVXY ProShs Short VIX Short-Term 0.71% MU Micron Tech 0.66% QCOM Qualcomm Inc 0.63% ADI Analog Devices 0.43% FAZ(HB) Finl Bear 3x Shs 0.33% QQQ Invesco QQQ Trust Series 1 0.28% NXPI NXP Semiconductors N.V. 0.27% GLD SPDR Gold Trust 0.26% XLNX Xilinx Inc 0.20% AVGO Broadcom Inc 0.20% INTC Intel Corp 0.15% MXIM Maxim Integrated Prod 0.08% SPY SPDR S&P 500 ETF 0.07% AMAT Applied Materials 0.06% KLAC KLA-Tencor Corp 0.05% SWKS Skyworks Solutions 0.04% TXN Texas Instruments 0.00% IWM iShs Russell 2000 ETF -0.02% USO(HB) United States Oil Fd LP -0.14% MCHP Microchip Tech -0.22% FAS(HB) Finl Bull 3x Shs -0.33% TSM Taiwan Semiconductor Mfg ADS -0.49% WTI W&T Offshore Inc -1.59% VXX iPath S&P 500 VIX Short-Term -1.59% UVXY ProShs Ultra VIX Short-Term -2.44% TVIX VS 2X VIX Short Term -2.87% ^IXIC Nasdaq Composite Index ^GSPC S&P 500 Index ^NDX Nasdaq 100 ^RUT Russell 2000 Index
Yahoo Finance's Jared Blikre joins Dion Rabouin from the floor of the New York Stock Exchange to discuss the latest market moves after OpenFinance commences trading of security tokens, digital assets that are issued pursuant to an exemption from registration under the Federal and state securities laws of the United States.