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This Quarter's Sentiment:
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SocialPicks Community
Bullish on PMCS ...
PMCS
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-34.25%
in
1307 days
PMC-Sierra recently bought GPON chip maker Passave for $300m. It will be interesting to see if this investment pays off.
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From the Blogosphere
Morgan Turns Cautious On Chips, Semi Equipment; Downgrades Many Stocks
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Morgan Stanley this morning turned cautious on both the chip stocks and the semiconductor equipment sector, downgrading ratings on many names in the group. <>In a research note, Morgan chip analyst Mark Lipacis writes that his EPS estimates, which last spring were 25% above the consensus, are now 5% below the Street. “EPS, gross margins utilization and growth metrics tell us that we are in the final innings of the semi cycle,” he writes. “Peaking fundamentals lead us to shift from mid-cycle to cycle-peak P/E multiples and lower our price targets. On average, our price targets imply 5% upside t<><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><>< /><>< /><>< /><>< /><>< />< />...
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Earnings Roundup: WDC, RMBS, CLS, PMCS, LSCC
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My hands are getting tired, I think it is time to start doing earnings reports in bunches: <>Western Digital (WDC): For FY Q1 ended October 2, posted revenue of $2.2 billion and profits of $1.25 a share, nicely beating the Street at $2.06 billion and 94 cents, a pattern similar to that reported by Seagate earlier in the week. But like Seagate’s report, this one is not moving the stock: in late trading, WDC is up a penny at $37.12.<>Rambus (RMBS): For Q3, the memory chip IP licensing company posted revenue of $27.9 million and a loss of 26 cents a share; the Street had been expecting $27.6 mill...
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Debating PMCS: Goldman Downgrades, J.P Morgan Upgrades
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There are pair of conflicting research reports this morning on communications chip maker PMC-Sierra (PMCS); Goldman Sachs downgrades the shares, while J.P. Morgan did the reverse. Here’s a quick rundown on the two calls: <><>Goldman Sachs analyst James Schneider cut his rating on the stock to Neutral from Buy, largely on a valuation basis. He maintains a $10 target price on the stock, which yesterday closed at $9.56. Schneider notes that the stock is up 110% since he issued a Buy rating on the shares last October. He says the stock now has largely priced in the strong fundamental outlook he ha...
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Morgan Stanley Shuffles Chip Ratings
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Morgan Stanley semiconductor analyst Mark Lipacis this morning pounded the table on the chip sector, while shuffling some ratings on stocks in the group. <>“Solid Q2 results, upward revisions and the group’s out-performance appear to have left investors thinking that semis have already benefited from a re-stock and [that] the group has topped out,” he writes. “Our work shows that inventory restocking hasn’t even started. We believe the combination of lean inventories, improving utilization and improving demand will lead to an inventory restock, further upward revisions and continued [year-over<><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><><>< /><>< /><>< /><>< /><>< />< />...
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AeroVironment (AVAV) Earnings Good Enough; Some Bump in Guidance
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While the heart of earnings season starts up in 2 weeks (already?) some names with non typical quarter ends (i.e. July instead of June) are out this week. We mentioned Monsanto (MON) this morning, Darden Restaurants (DRI) reported last night (not so great on guidance) along with Oracle (ORCL), Riverbed Technology (RVBD) and PMC Sierra (PMCS) tomorrow and a few others are also out there.
One small defense firm we still like is AeroVironment (AVAV) - unfortunately in the quest for 'reflation' or 'technology' stocks this name has sat ignored for a few months as the computers jump in and out of...
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About PMC Sierra Inc
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