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Calls of the Day: NXP Semi a top pick at Cowen
  + stars: | 2023-12-05 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCalls of the Day: NXP Semi a top pick at CowenBMO initiates coverage of Paypal with a market perform rating. NXP is a top pick at TD Cowen IBM is reiterated a 'buy' at Bank of America. The Halftime Investment Committee discuss in our Calls Of The Day.
Organizations: Cowen BMO, Paypal, Cowen IBM, Bank of America
Goldman Sachs reiterates Nike as buy After a transfer of analyst coverage, Goldman Sachs said it sees improving growth for Nike shares. UBS downgrades United Rentals to neutral from buy UBS said in its downgrade of the equipment rental company that it sees a more balanced risk/reward. UBS reiterates Apple as neutral UBS said its analysis of Apple's App Store shows revenue increasing. UBS reiterates Netflix as buy UBS said it's standing by its buy rating on Netflix shares after hosting the company at a conference. William Blair reiterates Charles Schwab as outperform William Blair named Schwab a top pick for 2024, noting it's well-positioned.
Persons: Raymond James, Piper Sandler downgrades Albemarle, Piper Sandler, it's, Goldman Sachs, Roth, Roth MKM, TD Cowen, Bernstein, Mizuho downgrades Prologis, Wells, Wells Fargo, Oppenheimer, Domino's, Elliott, Morgan Stanley, Meta, Needham, Coinbase, JPMorgan, Raymond James downgrades Lululemon, LULU, Strong, William Blair, Charles Schwab, Schwab Organizations: Crescent Energy, Energy Company, Eagle Ford, UW, Nike, Bank of America, UBS, Credit Suisse, Yale, HY, United Rentals, Apple, Semiconductors, JPMorgan, IBM, Consulting, Mizuho, Marriott, of America, Netflix, Management, Integra, Financial, ISI, Disney, BR, Cargo Therapeutics, Citi, Travere Therapeutics Locations: Houston, Uinta, Eagle, LTHM, 2024E, 2025E, Argentina, Boston, China, Mexican
The best long-term dividend growth strategy is to buy stocks that offer a combination of high dividend growth and high free cash flow yield, the strategist said. Here are 10 names that Wolfe likes for their high dividend growth and free cash flow yields. NXP Semiconductors, for instance, has a 2% dividend yield and last 12 months dividend growth of 32%. It has a 6% estimated free cash flow yield for 2024. Meanwhile, Qualcomm has a 6% estimated free cash flow yield for 2024 and 9% last 12 months dividend growth.
Persons: Chris Senyek, Wolfe, Karen Lynch, Kroger, — CNBC's Michael Bloom Organizations: Wolfe Research, CVS, CNBC, NXP Semiconductors, Skyworks Solutions, Qualcomm Locations: U.S
The U.S. Court of Appeals for the Federal Circuit reversed the jury's 2021 verdict that Intel infringed one VLSI patent, and sent the case back to Texas for a new trial to determine how much Intel owes for infringing a second VLSI patent. A Waco, Texas jury awarded VLSI $2.18 billion in the first trial from the dispute. The jury found that technology in Intel microprocessors infringed patents that VLSI had acquired from Dutch chipmaker NXP Semiconductors (NXPI.O). Intel defeated VLSI's bid for more than $3 billion in damages in another Waco jury trial later in 2021. A separate jury in Austin, Texas said that VLSI was entitled to nearly $949 million from Intel in a third patent case last year.
Persons: Florence, VLSI's, Blake Brittain, David Bario, Chizu Nomiyama, Sharon Singleton Organizations: Intel, China International, Chain, REUTERS, Monday, Technology, Intel Corp, U.S, Appeals, Federal Circuit, Fortress Investment, Thomson Locations: Beijing, China, Texas, Waco , Texas, Waco, Austin , Texas, Delaware, Northern California, Washington
Final Trades: Expedia, American Tower, NXP Semi & more
  + stars: | 2023-11-15 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFinal Trades: Expedia, American Tower, NXP Semi & moreThe "Halftime Report" traders give their top picks to watch for the second half.
Arm's big break came in 1993, when Apple launched its early handheld Newton device on the Arm610 processor. Arm's big break came in 1993 when Apple released its handheld Newton device on the Arm610 processor. Apple moved to its own Arm-based processors in Mac computers in 2020, breaking away from the Intel x86 processors that had powered them for 15 years. Qualcomm is another major customer making its latest PC processors using Arm, although that relationship is strained. This simplification is also making Arm the choice for non-chip companies like Apple, Amazon, Google and Microsoft designing their own custom silicon.
Persons: Haas, Richard Grisenthwaite, I've, Grisenthwaite, Japan's SoftBank, Grace Hopper Superchip, Grace Hopper, they're, Cash, SoftBank, Softbank, Rene Haas, CNBC's Katie Tarasov, Katie Brigham Arm, It's, Daniel Newman, Newman, O'Donnell, Apple, Nuvia, Arm's Grisenthwaite, They've, " O'Donnell, Max Thurlow Organizations: Apple, Acorn Computers, Texas, Nokia, Nvidia, Google, Samsung, Qualcomm, Futurum, Intel, Amazon, AMD, Cruise, Microsoft, Arm Holdings Locations: Cambridge, NXP, U.S, Arizona , California, North Carolina, Texas, Norway, Sweden, France, India, San Jose , California, IoT, England, China
Here are Wednesday's biggest calls on Wall Street: UBS reiterates Apple as neutral UBS said its checks show wait times for Apple's iPhone Pro and Pro Max have fallen. UBS reiterates Target as buy UBS lowered its price target on the stock to $174 per share from $184 but said it's standing by Target shares. Bank of America upgrades Fluence Energy to buy from neutral Bank of America said the energy storage is the next big thing in renewables. Bank of America reiterates Rivian as buy Bank of America said Rivian is "still in [the] right place/time with right product/strategy." Bank of America reiterates DraftKings as buy Bank of America said it's bullish heading in to DraftKing's investor day next week.
Persons: Pro Max, Wells, Isaac, it's, Cantor Fitzgerald, Cantor, TD Cowen downgrades Estee Lauder, Estee Lauder, Rivian, it's bullish, Goldman Sachs, Goldman, Raymond James downgrades Masimo, Raymond James, DraftKings, Bernstein, Mizuho downgrades Datadog, DDOG, MCHP Organizations: UBS, Apple, Pro, Target, 3Q, Citi, Bank of America, Energy, of America, South Korea Travel, EV, Susquehanna, TAM, Adobe, Mizuho, JPMorgan Locations: China, Europe, Japan, Mainland China, Hainan, MASI, bottoming
[1/4] The logo of Smart Photonics is seen at their headquarters in Eindhoven, Netherlands, November 7, 2023. "Currently, the EU has a vibrant and growing integrated photonics industry, however, without volume manufacturing, testing and packaging capacity we are incredibly vulnerable to global events and the policies of competitor countries," Johan Veenstra, CEO of SMART Photonics, said at the summit. Currently most photonics chips, like most chips, are made in Asia, with important intellectual property in the U.S. The statement said low levels of European manufacturing and over-reliance on Asia in manufacturing and packaging, "threatens the EU's economic security and resilience". The statement was signed by Germany's XFAB and Aixtron, the Netherlands' SMART Photonics and Phix Photonics Assembly, VLC Photonics of Spain, France's Almae, and Switzerland's Ligentec, as well as PhotonDelta, a public-private partnership in the Netherlands devoted to funding photonics.
Persons: de Wouw, Johan Veenstra, chipmaker, VDL, Germany's XFAB, France's Almae, Switzerland's, Toby Sterling, David Evans Organizations: Smart Photonics, REUTERS, Rights, European Union, EU, SMART Photonics, photonics, SMART, U.S, Phix Photonics Assembly, Photonics, Thomson Locations: Eindhoven, Netherlands, Asia, United States, Spain
Taiwan Semiconductor Manufacturing Company's (TSMC) logo is seen while people attend the opening of the TSMC global R&D center in Hsinchu, Taiwan July 28, 2023. REUTERS/Ann Wang/File Photo Acquire Licensing RightsNov 7 (Reuters) - The German cartel office has approved stakes by Bosch (ROBG.UL), Infineon (IFXGn.DE) and NXP (NXP.N) in TSMC's (2330.TW) new semiconductor plant in the German city of Dresden, the regulator said in a statement on Tuesday. The companies would each acquire 10% of shares in the European Semiconductor Manufacturing Company (ESMC), founded by TSMC, it said. "The recent geopolitical upheavals have shown how important secured access to semiconductors is, especially for the German industry," Andreas Mundt, president of the cartel office, said in a statement. He added that both the European Union and Germany were committed to locating more semiconductor production in Europe and Germany.
Persons: Ann Wang, Andreas Mundt, Linda Pasquini, Rachel More, Matthias Williams Organizations: Taiwan Semiconductor Manufacturing, REUTERS, Bosch, Infineon, European Semiconductor Manufacturing Company, TSMC, European Union, Thomson Locations: Hsinchu, Taiwan, TSMC's, German, Dresden, Germany, Europe, China
Morning Bid: Rates buzz sustained before Fed loan data
  + stars: | 2023-11-06 | by ( ) www.reuters.com   time to read: +5 min
A street sign for Wall Street is seen in the financial district in New York, U.S., November 8, 2021. Ten-year U.S. Treasury yields have fallen about 50bps from October's peaks and the drop last week was the biggest recoil since March. For now, S&P500 futures are pointing to further slight gains on Monday - which if realized on the cash market later would make for the sixth straight gain and the longest daily run since June. Undermined by the retreat in Treasury yields, the dollar (.DXY) slipped back to the lowest since Sept 20. The backdrop of an easier dollar and Treasury yields provides significant relief for emerging markets, with MSCI's emerging market stock index (.MSCIEF) hitting its highest since Sept 20 too.
Persons: Brendan McDermid, Mike Dolan, Jerome Powell, underscoring, Janet Yellen, Lisa Cook, Huw Pill, Bernadette Organizations: Wall, REUTERS, Federal Reserve, Treasury, U.S, Pacific Rim, South, Ryanair, Europe's, Goodyear Tire &, Aspen, Conterra Energy, Constellation Energy, Diamondback Energy, Vertex Pharmaceuticals, NXP Semiconductors, Bank of England, Reuters, Reuters Graphics Reuters, Thomson Locations: New York, U.S, Gaza, China, Western, San Francisco, South Korean, Asia, Europe, Telesat
Earnings Exchange: NXP, Air Products & Realty Income
  + stars: | 2023-11-06 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEarnings Exchange: NXP, Air Products & Realty IncomeMariann Montagne, Gradient Investments portfolio management consultant, joins 'The Exchange' to discuss NXP, Air Products, and Realty Income.
Organizations: Air Products &, Air Products, Realty
REUTERS/Steve Marcus/File Photo Acquire Licensing RightsNov 6 (Reuters) - Chipmaker NXP Semiconductors (NXPI.O) forecast fourth-quarter profit above Wall Street targets on Monday, expecting a resilient automotive market and stable industrial demand to offset weakness in other key markets. NXP in September said automotive demand was "pretty good" across all its markets, including China, which contributes about 30% to the chipmaker's total revenue. However, NXP CEO Kurt Sievers said the company's communication infrastructure business performed "slightly below expectations" in the third quarter. The company forecast adjusted current quarter revenue in the range of $3.30 billion and $3.50 billion, compared to analysts' estimate of $3.43 billion, per LSEG data. Revenue in the third quarter was $3.43 billion, compared with estimates of $3.40 billion.
Persons: Steve Marcus, Kurt Sievers, NXP, Chavi Mehta, Krishna Chandra Organizations: Semiconductors, Electronics, Las Vegas Convention, REUTERS, Wall, NXP, Apple, Revenue, Nasdaq, Thomson Locations: Las Vegas , Nevada, U.S, China, Eindhoven, Netherlands, Bengaluru
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEverything looks to be holding up 'for now', says Bernstein's Stacy Rasgon on NXP earningsStacy Rasgon, Bernstein Senior Analyst, joins 'Closing Bell Overtime' to talk NXP Semi earnings and the semiconductor space-at-large.
Persons: Bernstein's Stacy Rasgon, Stacy Rasgon, Bernstein
The major averages rebounded strongly this week as quarterly earnings came in largely better than expected and interest rates fell on softer economic data. The Dow Jones Industrial Average rose more than 5% for its best week since October 2022. The big theme next week is earnings and the four portfolio companies delivering their quarterly results. Here's the full rundown of all the important domestic data in the week ahead as we consider a number areas of our portfolio for trades next week. ET: Treasury budget statement for October (See here for a full list of the stocks in Jim Cramer's Charitable Trust.)
Persons: FactSet, we'll, Hulu —, Krystal, Horton, Zimmer, LEV, Armour, Ralph Lauren Corporation, CRON, Patterson, Walt Disney, MARA, Ginkgo, FREYR Battery, FREY, Arcelor Mittal, Wynn, Jim Cramer's, Jim Cramer, Jim Organizations: Dow Jones, Nasdaq, ISM, Services, Coterra Energy, Emerson Electric, Wall, National Instruments, Disney, Hulu, CNBC, Comcast, ESPN —, Wynn Resorts, WYNN, Asia that's, Wynn, Wynn's, Wynn Interactive, United, Brookfield Asset Management, Axsome Therapeutics, Network Corporation, Krystal Biotech, Ceragon Networks, Kosmos Energy Ltd, TreeHouse Foods Inc, Air Lease Corporation, Inc, Eversource Energy, Fennec Pharmaceuticals Inc, Graham Corporation, Aereas Inteligentes, Hilton, Energy, Realty Income Corp, Semiconductors, Vertex Pharmaceuticals Inc, Clover Health, Contura Energy, Diamondback Energy, FS KKR Capital Corp, Celanese Corp, Eos Energy Enterprises, Goodyear Tire & Rubber Company, WEN, Pall Corp, TransMedics, Emerson, Uber Technologies, Holdings, Melco Resorts, Entertainment, Zimmer Biomet Holdings, ACM Research, Lion Electric Company, Emerson Electric Co, Vertex Energy, Waters Corp, Air Products & Chemicals, Esperion Therapeutics, Fidelity National Information Services Inc, Bowlero Corp, Hotels, KKR, Co, Devon Energy Corp, Occidental Petroleum Corp, Dutch Bros Inc, Gilead Sciences, ContextLogic Inc, Akamai Technologies, Viatris Inc, Technologies, Corsair, Enovix Corporation, eBay, EBAY, DaVita Inc, Pan American Silver Corp, Roblox Corporation, Fisker Inc, Warner Bros ., Nuvei Corporation, Farms, Akebia Therapeutics, Biogen Inc, 3D Systems Corporation, Gray Television Inc, BlackSky Technology Inc, Cronos, EVgo Inc, Lumentum Holdings Inc, Nexstar Media Group, UTI Energy, Starwood Property Trust, AMC Entertainment Holdings, Marathon Digital Holdings, IonQ Inc, Digital Turbine, Virgin Galactic Holdings , Inc, Arm Holdings plc, ARM, Ginkgo Bioworks Holdings, Suncor Energy, AppLovin Corporation, B2Gold Corp, Luminar Technologies, MGM Resorts International, MGM, Bloom Energy Corporation, Li Auto Inc, Oatly, Kopin Corp, Fiverr International, YETI Holdings, YPF S.A, Ship Lease, Himax Technologies Inc, Dickinson, CommScope Holding, RBC, Agile Therapeutics, Apyx Medical Corporation, Grab Holdings, Hawaiian Electric Industries, Profire Energy, Flags Inc, Stereotaxis Inc, TransDigm, US Foods Holding Corp, Utz Brands, Valvoline Inc, Weibo Corporation, Wix.com Ltd, Trade, Petroleo Brasileiro SA Petrobras, Growth, Aurora Cannabis Inc, Navitas Semiconductor Corp, Archer Aviation Inc, Semiconductor, Energy Fuels Corp, Illumina Inc, Spike Investment Corp, Algonquin Power & Utilities Corp, AngloGold, Central Puerto S.A, Hudson Global, AirSculpt Technologies, Partners, Soho House, Jim Cramer's Charitable, Handout, Getty Locations: U.S, Macao, Asia, China, Las, Singapore, Wynn's Vegas, Boston, United Arab Emirates, Gilead, VVV, Central, Soho
Club holding Broadcom 's (AVGO) investment prospects look bright – with or without cloud software maker VMWare (VMW) under its corporate roof. For now, though, the companies remain apart after Broadcom's planned $61 billion takeover of VMWare did not close Monday, as previously scheduled. AVGO YTD mountain Broadcom YTD With VMWare, Broadcom would be a company with sales split roughly 50-50 between its traditional semiconductor division — an artificial intelligence beneficiary — and software, which typically is higher-margin revenue. Without VMWare, Broadcom would have freed up its capacity to reward shareholders in a different, but still meaningful, way. Even with the buyback silver lining, our hope is Broadcom completes the VMWare deal because it should boost Broadcom's earnings over time.
Persons: Broadcom's, CNBC's David Faber, Jim Cramer, Hock Tan, Jim, Broadcom's Tan, CNBC's Faber, There's, Jim Cramer's, Broadcom Lucas Jackson Organizations: Broadcom, VMWare, Club, Nvidia, Google, European Union, Financial Times, U.S, Intel, Semiconductor, Qualcomm, NXP Semiconductors, Microsoft, Activision, CNBC Locations: United Kingdom, Japan, Canada, China, California, Beijing
Final Trades: Alphabet, NXP Semi & more
  + stars: | 2023-10-26 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFinal Trades: Alphabet, NXP Semi & moreThe "Halftime Report" traders give their top picks to watch for the second half.
Semiconductors are looking undervalued, thanks to the selloff in some parts of the sector, according to Morningstar. That's even more undervalued than the wider tech sector, which it believes is 5% undervalued. Morningstar noted such stocks have sold off a little in September, especially in analog and mixed signal names — two types of chips in the semiconductor industry — and even in artificial intelligence chipmakers. Outside the AI sector, the firm also likes autos, expecting more chips to be used in cars, especially electric vehicles, in the years to come. That will enable the company to achieve high single-digit long term revenue growth, Morningstar said.
Persons: Morningstar, Brian Colello, Jack Keegan, it's Organizations: Nvidia, Infineon Technologies, NXP Semiconductors, Qualcomm, Morningstar, Skyworks Locations: Taiwan
Final Trades: CrowdStrike, NXP Semi & more
  + stars: | 2023-09-21 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFinal Trades: CrowdStrike, NXP Semi & moreThe "Halftime Report" traders give their top picks to watch for the second half.
Sept 18 (Reuters) - Three former Qatalyst Partners bankers have formed a new investment banking boutique called AXOM Partners, which will focus on advising technology companies on mergers and acquisitions (M&A). Qatalyst, the investment bank the trio left behind, also specializes in technology deals and has the No. Most of Qatalysts's deals are worth more $1 billion, and Hightower, Bressers and Weiner will focus on deals that are smaller. Based in San Francisco, AXOM will seek to advise on deals in sectors, including enterprise software, consumer technology, e-commerce and financial technology. All AXOM employees will be rewarded on merit based on an incentive system, and will be allowed to participate in profit distributions, Hightower said.
Persons: Brandon Hightower, Alan Bressers, Ross Weiner, Hightower, Qatalyst, Bressers, Weiner, AXOM, NXP, Inphi Corp’s, Milana Vinn, Aurroa Ellis Organizations: Qatalyst Partners, AXOM Partners, Qatalyst, Expedia, Qualcomm Inc, Devices, Marvell Technology Inc, Technology, Thomson Locations: San Francisco, Qatalyst, New York
A robotic arm moves 300 mm silicon semiconductor wafers inside a sorting machine in a cleanroom at a Globalfoundries Inc. semiconductor fabrication plant. Liesa Johannssen | Bloomberg | Getty ImagesU.S.-headquartered GlobalFoundries announced Tuesday the opening of its $4 billion expansion fabrication plant in Singapore as the contract chipmaker expects "growth in demand for essential semiconductor chips." Singapore supplies 11% of the world's semiconductors, according to the Singapore Semiconductor Industry Association. GlobalFoundries acquired Singapore's Chartered Semiconductor Manufacturing and took over its fabs in 2010. The following June, the Nasdaq-listed semiconductor manufacturer said its first tool had been moved into the Singapore facility.
Persons: Johannssen, GlobalFoundries, chipmaker, Thomas Caulfield, Caulfield, CNBC's Organizations: Inc, Bloomberg, Getty, CNBC, Qualcomm, MediaTek, NXP Semiconductors, 5G, Singapore Semiconductor Industry Association, Partnership, Samsung, Semiconductor Manufacturing, Economic, Board, Nasdaq, CNBC's Sri Locations: Singapore, U.S, Germany
China's "stalling" economy is putting some US companies at risk, according to Bank of America. The bank highlighted the top 10 stocks that have the most revenue exposure to China. Applied MaterialsApplied Materials’ new corporate signage photo in Santa Clara California ReutersTicker: AMATMarket value: $122.6 billionRevenue exposure to China: 33%9. Wynn ResortsAdvertisementAdvertisementFILE PHOTO: Wynn Resorts Ltd property in Las Vegas ReutersTicker: WYNNMarket value: $10.7 billionRevenue exposure to China: 40%4. ReutersTicker: LVSMarket value: $38.2 billionRevenue exposure to China: 67%Other companies that have considerable revenue exposure to China include: Intel (27%), Tesla (26%), and Nvidia (26%).
Persons: Savita Subramanian, Santa Clara California, Lam, Shanghai Aly Song Organizations: Bank of America, Service, Santa Clara California Reuters, Broadcom Reuters, IPG Photonics, Wynn, Wynn Resorts Ltd, Las Vegas Reuters, WYNN, Qualcomm, China, Vegas Sands Corp, Reuters, Intel, Nvidia Locations: China, Wall, Silicon, Santa Clara, Las Vegas, Shanghai, Macau
Qualcomm is best known for the chips and modems inside Android phones. But in recent years, it's also started selling a package of hardware chips, sensors and software called Snapdragon Digital Chassis to automakers like GM , Hyundai and Volvo. It reported $1.32 billion in sales in its fiscal 2022, or about 3% of the company’s overall sales. Qualcomm makes between $200 and $3,000 per car that use its chips and software, officials said last fall at an investor event. Qualcomm faces stiff competition from other chipmakers in the car chip business.
Persons: it's Organizations: Qualcomm, GM, Hyundai, Volvo, Apple, Android, Computer, Intel, Nvidia, NXP Semiconductors, Bosch
RPT Realty — RPT Realty shares surged 17% after Kimco Realty, an operator of open-air shopping centers, said it would acquire the real estate investment trust in a roughly $2 billion all-stock deal. Mister Car Wash — The car wash stock advanced 6.1% on the back of an upgrade to overweight from neutral by Piper Sandler. Alibaba Group , JD.com — Alibaba and JD.com each added more than 2% after the Chinese government announced measures to boost its stock market, including reducing a tax on trading. Xpeng — Shares of the Chinese electric car company jumped 5.3% after the firm said it is buying Didi's smart electric car development business in an exchange of shares worth $744 million. Meanwhile, Xpeng said it plans to develop an electric car for launch next year under a new mass market brand.
Persons: Conor Flynn, Piper Sandler, — CrowdStrike, Morgan Stanley, , Xpeng, Wells, Sarah Akers, Micron Technology — Stocks, — CNBC's Alexander Harring, Hakyung Kim, Yun Li, Jesse Pound, Pia Singh, Samantha Subin Organizations: RPT, Realty, Kimco Realty, Boston, Boston Scientific, Bloomberg, 3M, Akero Therapeutics, Therapeutics, UBS, Alibaba, Micron Technology —, Micron Technology, Marvell Technology, Semiconductors Locations: Xpeng
REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsAug 23 (Reuters) - Analog Devices (ADI.O) forecast fourth-quarter revenue below Wall Street targets on Wednesday, in a sign that the chip industry inventory glut, fueled by weak consumer demand, might prevent fresh orders from flowing in. U.S.-based Analog Devices projected fourth-quarter revenue of $2.70 billion, plus or minus $100 million, compared with analysts' average estimate of $3.01 billion, according to Refinitiv data. Rival Texas Instruments (TXN.O) also forecast third-quarter revenue below market estimates as weak consumer demand prompted electronics makers to be cautious about buying chips. Analog Devices also forecast fourth-quarter adjusted earnings of $2 per share, plus or minus 10 cents, below analysts' estimate of $2.39 per share profit. Its third-quarter revenue fell about 1% to $3.08 billion, missing estimates, weighed by the consumer sector.
Persons: Dado Ruvic, Vincent Roche, Arsheeya, Shilpi Majumdar Organizations: REUTERS, Research, Devices, Texas, ON Semiconductor, NXP Semiconductors, Thomson Locations: China, Vincent Roche ., Bengaluru
[1/2] Volkswagen's factory is seen in Sao Bernardo do Campo, Sao Paulo state, Brazil June 28, 2023. Demand for chips has risen dramatically in the car industry in line with electric vehicle production and the need for increasingly complex software. Volkswagen and Franco-Italian chipmaker STMicroelectronics (STMPA.PA) announced plans last July to co-develop a new semiconductor, marking VW's first direct relationship with a second- and third-rank semiconductor supplier. Volkswagen has not struck a direct supply relationship with TSMC - the world's biggest contract manufacturer of semiconductors - but meets with them every few weeks to communicate its demand situation, Schnake said. The carmaker also plans to reduce the variety of chips required in its vehicles to simplify the supply chain, which will also help simplify its software offering, Schnake added.
Persons: Campo, Leonardo Benassatto, chipmakers, Karsten Schnake, Dirk Grosse, Taiwan's TSMC, Schnake, Victoria Waldersee, Jan Schwartz, Bill Berkrot Organizations: REUTERS, Rights, NXP Semiconductors, Infineon Technologies, Renesas Electronics, Volkswagen, Intel, Thomson Locations: Sao Bernardo, Sao Paulo state, Brazil, Berlin, Germany
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