but in the long term, I see this is a great move for the company. The stocks have just adjusted for expected losses, and they have increased competition and a lagging product line. By shaking up the upper management, this gives them a new "brain" to be able to come up with interesting technology and focus more internally where they need it. Then when their new management gets up to speed, and outward focused, we can really expect great things. Mobile phones are where the money is at, and the developing world is adopting them faster than landlines.
SiRF Tech (SIRF) reported earnings the other day that were a bit disappointing. And the ensuing reaction by the stock was even more disappointing.
The company reported in-line earnings, but they were aided by a lower tax rate. The big disappointment was that they lowered revenue guidance, citing a slower than expected ramp in wireless.
This had been one of the areas that made me the most bullish. There is talk that much of the weakness stemmed from problems at Motorola (MOT), as opposed to the company losing market share or carriers losing interest in LBS. ...
SiRF chips dominate the GPS market. With the recent buy-out of Global Locate by Broadcom, I believe SiRF will share the same fate within a year or two. GPS on Cell Phone is the future, SiRF have the best chip on the market. Cell Phone Market is huge, even without a buy-out, SiRF chips will have a bright future.
SiRF Technology(SIRF) has checked in with another disappointing quarter.
The maker of GPS chips posted revenue for Q3 of $60.1 million and a loss of 34 cents a share, below the consensus at $61.85 million and a loss of 18 cents. Gross margin dropped to 42.7% from 49.3% a year ago, as revenues tumbled 34.1%.
The company said it was “a challenging quarter…with weakness in demand driven by global economic uncertainty and continued competitive pressures that impacted both our revenue and margins.” SiRF said that it remains “cautious” on the outlook “due to economic uncertainties and challenging
After meetings with 20 electronics supply chain companies in Asia last week, UBS analyst Uche Orji and his colleagues concluded that industry sentiment is at its worst level since 2001. Orji last week had cut ratings on severalcompanies, but today made further moves, cutting ratings and estimates on a host of stocks.
Orji wrote in a research note this morning that fundamentals appear “unsettled across the board” in the chip sector, with “muted” back-to-school sales and Q4 demand expectations. He sees a “high probability” of less-than-seasonal Q4 results for PC semis, and this morning commen
SiRF Technology (SIRF) shares are sharply higher today on rumors that the company is nearing a settlement of its patent infringement dispute with Broadcom (BRCM).
Late last month, a U.S. International Trade Commission administrative law judge recommended the ITC bar the importation of products containing SIRF chips that violate Broadcom patents. The judge had previously found that SIRF infringes six Broadcom GPS-related patents.
SIRF today is up 27 cents, or 12.9%, to $2.37. That increase’s SIRF’s gai
SiRF Technology (SIRF) shares are trading lower this morning after Broadcom (BRCM)announced late yesterday that a U.S. International Trade Commission administrative law judge on Friday recommended the ITC bar the importation of products containing SIRF chips that violate Broadcom patents.
Broadcom says products affected by the ruling include personal navigation devices, GPS modules and receivers, PDAs and cell phones. The judge had previously found that SIRF infringes six Broadcom GPS-related patents.
An interesting question here is exactly which phones and GPS devices would be barred under
Shares of beleaguered GPS chip maker SiRF Technology Holdings (SIRF) are coming under a lot of pressure this afternoon, apparently on a news item that crossed the wires this afternoon, from The Washington Service, which reports insider sales, saying that a corporate officer, Philip Lau, has filed to sell 19,429 shares of the stock. SiRF shares are the sixth highest decliner on the Nasdaq today, falling 28 cents, or 12%, to $1.99. There’s been no other news since all the bad news of last week: The revelation on August 11 that the U.S. International Trade Commission ruled in favor of competit
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