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Internet penetration is now 34.3% of the global population and the growing adoption of tablets and smartphones, increases the risks and potential targets for cyber crime.
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Qorvo's (QRVO) Expanding portfolio of 5G and GaN solutions hold promise. Further, robust growth in its wireless connectivity as well as in base station solutions is a positive.
CEO of Proofpoint Inc (30-Year Financial, Insider Trades) Gary Steele (insider trades) sold 20,000 shares of PFPT on 09/12/2019 at an average price of $124.8 a share. Continue reading...
EVP, Chief Technology Officer of Palo Alto Networks Inc (30-Year Financial, Insider Trades) Nir Zuk (insider trades) sold 12,000 shares of PANW on 09/12/2019 at an average price of $210.66 a share. Continue reading...
Broadcom's CEO is known for his mergers and acquisitions. He targets companies that are market leaders with high cash flows and distressed growth.
Today we'll look at Radware Ltd. (NASDAQ:RDWR) and reflect on its potential as an investment. Specifically, we're...
Broadcom (AVGO) Q3 results benefit from expanding presence in the infrastructure software space on synergies from CA buyout. However, company provided cautious fiscal 2019 guidance.
(Bloomberg) -- Broadcom Inc. reported modest quarterly sales growth and reiterated a muted forecast for the rest of the fiscal year, indicating the trade war between China and the U.S. is still suppressing demand for semiconductors.Sales in the period ended Aug. 4 rose 9% to $5.52 billion, the San Jose, California-based company said Thursday in a statement. Before certain items, profit was $5.16 a share. That compares with average analyst estimates for per-share profit of $5.13 on sales of $5.52 billion, according to data compiled by Bloomberg.Broadcom said it still expects revenue in fiscal 2019 to be $22.5 billion, a lowered projection it made in June. The company no longer gives quarterly predictions and instead updates its annual target at the end of each quarter. Shares declined about 1.3% in extended trading.Chief Executive Officer Hock Tan has built a $100 billion company through a spate of acquisitions, including his purchase of part of Symantec Corp. for $10.7 billion in August. While Broadcom has one of the broadest reaches in the technology industry, that diversity hasn’t made it immune to the ongoing trade dispute between the U.S. and China and blacklisting of Huawei Technologies Co., which is hammering Tan’s semiconductor business.“We believe demand has bottomed out but will continue to remain at these levels due to the current uncertain environment,” Tan said in the statement. There’s little visibility due to the trade war and no sense of a “sharp recovery around the corner,” he added on a conference call.About half of the chips Broadcom sells are either used in China or sent through factories there on the way to becoming part of electronic devices sold around the world. Last year, Huawei accounted for about $900 million of Broadcom’s sales, Tan has said.The chipmaker’s position as a major manufacturer of components for Apple Inc. and Samsung Electronics Co. means its orders are seen as a gauge of confidence in future demand from some of the world’s largest smartphone makers. It’s also one of the leading suppliers of networking components used by large data-center operators such as Alphabet Inc.’s Google and Amazon.com Inc.’s cloud division.Tan said that there is a “seasonal uptick” in demand for phone parts because of the launch of new models from his “large North American customer,” using his typical reference for Apple. Orders at this point are typical of the buildup ahead of a phone release, and sales of the devices will determine demand in the future. Apple’s iPhone 11 goes on sale Sept. 20.Three months ago, Tan pared back his revenue forecast for the year, indicating that sales in each of the remaining quarters would be a billion dollars lighter than previously expected. That has held back Broadcom’s stock, which is up 18% this year, compared with a 39% advance by the Philadelphia Stock Exchange Semiconductor Index.In the current circumstances, the company will prioritize paying down debt over buying back shares, Chief Financial Officer Tom Krause said on the conference call. Doing so is important to retaining the company’s investment-grade credit rating.Net income in the fiscal third quarter declined to $715 million, or $1.71 a share, from $1.2 billion, or $2.71, a year earlier, Broadcom said. Chip unit sales were about $4.4 billion in the recent period, accounting for 79% of the company’s total revenue. They were down 4.7% from a year earlier.(Updates with comments from executives starting in fifth paragraph)To contact the reporter on this story: Ian King in San Francisco at email@example.comTo contact the editors responsible for this story: Jillian Ward at firstname.lastname@example.org, Molly SchuetzFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
The Mountain View layoffs include workers in administrative services, IT, engineering, corporate responsibility, sales operations, brand management, finance, global staffing, investor relations, legal, operations, product and program management along with other roles.
As the trade war eases, Broadcom stock has soared 5.4% through September 10. Broadcom plans to release its Q3 earnings after the market closes.
Investors target stocks that have been on a bullish run lately. Stocks seeing price strength have a high chance of carrying the momentum forward.
Oracle (ORCL) unexpectedly released its earnings results for the first quarter of fiscal 2020 on Wednesday after the market bell.
Palo Alto Networks (PANW) has witnessed a significant price decline in the past four weeks, and is seeing negative earnings estimate revisions as well.
Broadcom said demand in its semiconductor business has “bottomed out”, taking some of the sting out of quarterly revenue that fell just shy of expectations as the chipmaker continues to deal with the fallout from the US-China trade spat. In June, the trade dispute and Washington’s export restrictions targeting Huawei prompted Broadcom to cut its revenue outlook by $2bn to $22.5bn for fiscal 2019, with the company warning that geopolitical uncertainties had driven a slowdown in the chip sector. Broadcom reiterated that revenue guidance Thursday, while also posting fiscal third-quarter earnings that outpaced Wall Street’s forecast.
Zscaler Inc.’s stock suffered its worst day since going public a year-and-a-half ago after the cloud-based cybersecurity company’s forecast came into question and half the analysts covering the stock cut target prices.