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2020-11-09 | TXN | Analog Devices gets bullish Evercore upgrade on 5G, Maxim, and industrial tailwinds | Citing recent stock weakness partially attributed to the Maxim Integrated Products (NASDAQ:MXIM) acquisition, Evercore upgrades Analog Devices (NASDAQ:ADI) from In-Line to Outperform and raises the price target from $135 to $160.
Analyst C.J. Muse sees "meaningful upside" heading into next year with the Maxim purchase underappreciated and "the company undergoing significant fundamental repositioning over the last few years."
Muse also expects tailwinds from ADI's "best-in-class leverage to increasing 5G spend," margin expansion, share buybacks, and exposure to the industrials market recovery.
Related: Last week, Analog Devices resumed its share buyback program for the first time since its March suspension due to the pandemic.
ADI shares are up 4.1% pre-market to $138.98. Maxim shares are up 1.8% to $80.88.
Here's a look at ADI's performance compared to the tech sector (NYSEARCA:XLK), analog semi peer Texas Instruments (NASDAQ:TXN), and S&P 500 over the past six months. Compare the one year and five year returns here. | 2020-11-10T00:00:00 | 2020-11-10T00:00:00 | 141.5 | 142.789993 | 144.910004 | 141.089996 | 144.080002 | 143.850006 | 146.75 | 148.059998 | 150.910004 | 154.899994 | 154.490005 | 152.770004 | 152.550003 | 153.119995 | 150.759995 | 150.830002 | 146.130005 | 148.220001 | 149.960007 | 145.949997 | 147.119995 | 143 | 146.190002 | 144.589996 | 145.600006 | 147.300003 | 152.029999 | 155.559998 | 157.740005 | 156.220001 | 151.490005 | 155.699997 | 154.5 | 156.649994 | 158.309998 | 155.5 | 153.550003 | 157.270004 | 156.820007 | 157.419998 | 159.350006 | 157.600006 | 158.990005 | 161.25 | 163.490005 | 162.720001 |
2020-11-23 | TXN | BofA expects growth takeoff for semiconductors, with trade/pandemic clouds clearing for its picks | BofA's bullishness on the semiconductor "state of the union" is undiluted, the bank notes in a new research update.
The last few years in semis have seen 2% growth, weighed down by trade worries, the COVID-19 pandemic and a maturing 4G smartphone cycle.
But it now expects growth will quadruple to a compound annual rate of 8% from calendar 2020 to 2022 - leading to the industry's first $500B-plus sales year, driven by: "(1) secular drivers of cloud/AI, gaming, smart industry/home/IoT; the telework and teleplay economy will remain strong even post-vaccine, in our view; (2) cyclical recovery in auto/industrials; (3) expanding adoption of 5G smartphones/wireless infra; and (4) stabilization in memory pricing."
Its preferred area for investing is in semiconductors for computing, where secular growth drivers should prevail over the periodic market rotation and interest-rate risks. There it likes Nvidia (NASDAQ:NVDA), AMD and Marvell Technology Group (NASDAQ:MRVL) - expecting their sales to grow about 20% and EPS about 30% over that time frame. "Importantly these companies are exposed to the right, duopolistic growth markets with significant barriers to entry, with prospects of share gains from incumbents," the firms says.
In wafer fab equipment, it's expecting growth in 2020 and 2021 to rise to +17% and +8% respectively, amid more moderate China restriction headwinds and ongoing strong demand. Its new top pick there is Applied Materials (NASDAQ:AMAT), where it's raising its price target to $93 from $78 (now implying 16% upside) on a number of drivers, including current market share gains, prospects for a better DRAM recovery, benefits from closing the Kokusai deal and/or buybacks resuming, a de-risked display business and potential to close a P/E discount to peers.
In that space, it also still likes Lam Research (NASDAQ:LRCX) and is raising its price target to $485 from $420 (8% upside), as well as KLA (NASDAQ:KLAC), for which it's boosting the price target to $268 from $225 (7% upside).
The firm is expecting a strong industry growth driver via a recovery in automotive, particularly in electric vehicles. That includes "multi-engine/multi-catalyst" growth at NXP Semiconductors (NASDAQ:NXPI), where it's raising the price target to $175 from $160 (12% upside); Analog Devices (ADI; driven by 5G radio growth, EV battery management, resumed buybacks and the chance to close a 2-3 turn valuation gap with Texas Instruments (NASDAQ:TXN)); and II-VI (NASDAQ:IIVI), where it's raising its target to $80 from $70, calling it a top pick for SMID-cap growth with 20% upside.
In smartphones, for now it's awaiting sell-through trends for the iPhone 5G. But overall it continues to like the RF vendors - particularly Qorvo (NASDAQ:QRVO) and Skyworks (NASDAQ:SWKS), though it's reducing its target on Skyworks to $165 due to elevated Apple exposure and that limited visibility on iPhone sell-through. That's still 20% upside expected, however. | 2020-11-24T00:00:00 | 2020-11-24T00:00:00 | 154.490005 | 152.770004 | 152.550003 | 153.119995 | 150.759995 | 150.830002 | 146.130005 | 148.220001 | 149.960007 | 145.949997 | 147.119995 | 143 | 146.190002 | 144.589996 | 145.600006 | 147.300003 | 152.029999 | 155.559998 | 157.740005 | 156.220001 | 151.490005 | 155.699997 | 154.5 | 156.649994 | 158.309998 | 155.5 | 153.550003 | 157.270004 | 156.820007 | 157.419998 | 159.350006 | 157.600006 | 158.990005 | 161.25 | 163.490005 | 162.720001 | 161.979996 | 166.520004 | 166.289993 | 166.679993 | 162.759995 | 162 | 160.610001 | 160.119995 | 162.380005 | 162.119995 |
2020-12-14 | TXN | Toshiba, Fuji Electric investing $1.9B to ramp up EV power chip production | Toshiba (OTCPK:TOSBF,OTCPK:TOSYY) and Fuji Electric (OTCPK:FELTF,OTCPK:FELTY) will invest a combined 200B yen or about $1.9B to ramp production in EV power chips.
Toshiba will commit 80B yen through the fiscal year ending in March 2024 to add production capacity at a factory in Ishikawa Prefecture, Japan, which will increase its wafer capacity from 150K wafers/month to 200K wafers/month.
The extra wafers will head to automakers in Japan, China, and elsewhere.
Fuji will invest 120B yen through FY23 to increase capacity. The fab in Japan's Yamanashi Prefecture will increase its capacity by 30% Y/Y this fiscal year.
The global power semiconductor market totaled 1.46T yen last year, according to research firm Omdia. Japan's leading trio of Toshiba, Fuji, and Mitsubishi Electric held 20% of that market.
Source: Nikkei Asian Review.
Texas Instruments (TXN
+0.5%) and ON Semiconductor (ON
+0.4%) are the top U.S. listed companies in the power semiconductor space. | 2020-12-15T00:00:00 | 2020-12-15T00:00:00 | 145.600006 | 147.300003 | 152.029999 | 155.559998 | 157.740005 | 156.220001 | 151.490005 | 155.699997 | 154.5 | 156.649994 | 158.309998 | 155.5 | 153.550003 | 157.270004 | 156.820007 | 157.419998 | 159.350006 | 157.600006 | 158.990005 | 161.25 | 163.490005 | 162.720001 | 161.979996 | 166.520004 | 166.289993 | 166.679993 | 162.759995 | 162 | 160.610001 | 160.119995 | 162.380005 | 162.119995 | 162.690002 | 164.070007 | 162.429993 | 162.520004 | 160.979996 | 161.639999 | 161.470001 | 161.179993 | 162.699997 | 164.130005 | 162.220001 | 163.410004 | 164.220001 | 167.940002 |
2020-12-19 | TXN | Semiconductor watch: Broadcom named top pick as J.P. Morgan forecasts 10% industry growth in 2021 | The Philadelphia Semiconductor Index is outperforming in 2020, up 50% YTD compared to the +42% for the Nasdaq and +15% for the S&P 500. J.P. Morgan expects the strength to continue with "positive earnings revisions ahead" for 2021.
Semiconductor revenues are on pace to grow 5% Y/Y in 2020 or 4% ex-memory, says a group of analysts led by Harlan Sur. For 2021, the analysts estimate 8-10% overall industry growth and 15-18% earnings growth.
Semiconductor stocks are expected to have a 15-20% upside in the next 12-18 months, and the firm's Overweight-rated stocks are forecast to outperform with 20%+ upside.
Overall industry thesis: "Our positive 2021 semi industry outlook is underpinned by multiple drivers: continued global GDP growth in CY21 from 2H20 (our economic team forecasting 5% growth in 2021), cloud/hyperscale datacenter capex growth (top 4 US CSPs up 27% Y/Y), strong 5G base station deployments (global deployment up 35%+ Y/Y), global auto production growth (up 14% Y/Y), and 5G smartphone shipments likely to more than double Y/Y."
Chart: Price return of the iShares PHLX SOX Semiconductor Sector Index ETF (NASDAQ:SOXX) vs. the S&P 500 over the past year.
Top picks: Broadcom (NASDAQ:AVGO) is named the top pick due to its "underappreciated diversification (with datacenter networking/storage accounting for ~25% of revenues), strong FCF generation, and dividend growth outlook."
Other Overweight stocks: Nvidia (NASDAQ:NVDA), Intel (NASDAQ:INTC), and Micron (NASDAQ:MU) on datacenter exposure, and Qorvo (QRVO
+1.9%), Texas Instruments (TXN
+0.8%), and Microchip (MCHP
-1.2%) on improving industrial and cyclical trends.
KLA (NASDAQ:KLAC) is the firm's top semiconductor equipment pick.
Long-term forecast: J.P. Morgan expects semis to become more stable and less cyclical with low- to mid-single-digit percentage annual revenue growth and high-single-digit percentage unit growth.
Industry valuation: The Philadelphia Semiconductor Index is trading at about 21x the 2021 earnings consensus estimate versus the 22x for the S&P 500. J.P. Morgan sees the valuation as "reasonable as we anticipate another 15-25% upside in out-year EPS estimates."
Previously: Global semiconductor sales to increase 5.1% in FY2020 and 8.4% in FY2021 (Dec. 10 2020) | 2020-12-20T00:00:00 | 2020-12-21T00:00:00 | 157.740005 | 156.220001 | 151.490005 | 155.699997 | 154.5 | 156.649994 | 158.309998 | 155.5 | 153.550003 | 157.270004 | 156.820007 | 157.419998 | 159.350006 | 157.600006 | 158.990005 | 161.25 | 163.490005 | 162.720001 | 161.979996 | 166.520004 | 166.289993 | 166.679993 | 162.759995 | 162 | 160.610001 | 160.119995 | 162.380005 | 162.119995 | 162.690002 | 164.070007 | 162.429993 | 162.520004 | 160.979996 | 161.639999 | 161.470001 | 161.179993 | 162.699997 | 164.130005 | 162.220001 | 163.410004 | 164.220001 | 167.940002 | 171.160004 | 171.309998 | 172.300003 | 171.410004 |
2021-01-04 | TXN | TSMC may announce record high capex of $20B in 2021 | Taiwan Semiconductor Manufacturing (NYSE:TSM) to disclose its 2021 capex plan at its upcoming investors meeting on Jan.14, reports Central News Agency.
Investor conference is scheduled to detail Q4 earnings and provide Q1 guidance.
Quick look at TSMC Capex in past 8 years:
It is likely to budget more than $20B in capex this year beating the record-high target of $17B set in 2020.
The report further quotes that the company will utilize its capex this year for the expansion of its 5nm process capacity, installation of more-advanced 3nm process capacity (scheduled to commence mass production in 2022), and 2nm process R&D.
Industry analysts believe that driving the capex is the Extreme Ultraviolet (EUV) machine cost of $123M+ which it plans to apply the development of the 5nm and 3nm processes.
Arizona plant investment scheduled to start later 2021 is also likely to drove capex higher.
Related Chipmakers: Advanced Micro Devices (NASDAQ:AMD), Nvidia (NASDAQ:NVDA), Intel (NASDAQ:INTC), Qualcomm (NASDAQ:QCOM), Texas Instruments (NASDAQ:TXN).
TrendForce indicates estimated market share of foundry businesses in 2021:
Market tracker TrendForce estimates Foundry industry to reach its highest revenue with a 6% Y/Y growth in 2021 led by high demand for digital gadgets and expected economic recovery.
2020âs revenue is expected to reach $84.6B (+23.7% Y/Y) highest growth in ~10 years.
Samsung (OTC:SSNLF) is expected to have a strong order book for its foundry business, or building chips by contract based on the designs from external customers, given that competing foundry players, like Intel and China's Semiconductor Manufacturing International (OTCQX:SMICY), are struggling with numerous internal and external challenges.
Recent statistics indicate that semiconductor performance in 2021 will be driven higher by 5G deployments, economic recovery and record foundry sales.
SA Contributor Crispus Nyaga wrote today, "Intel Stock Price Could Soar By 20% - Amid Rising Challenges" | 2021-01-05T00:00:00 | 2021-01-05T00:00:00 | 157.270004 | 156.820007 | 157.419998 | 159.350006 | 157.600006 | 158.990005 | 161.25 | 163.490005 | 162.720001 | 161.979996 | 166.520004 | 166.289993 | 166.679993 | 162.759995 | 162 | 160.610001 | 160.119995 | 162.380005 | 162.119995 | 162.690002 | 164.070007 | 162.429993 | 162.520004 | 160.979996 | 161.639999 | 161.470001 | 161.179993 | 162.699997 | 164.130005 | 162.220001 | 163.410004 | 164.220001 | 167.940002 | 171.160004 | 171.309998 | 172.300003 | 171.410004 | 171.710007 | 169.190002 | 174.190002 | 173.330002 | 175.100006 | 172.809998 | 172.919998 | 171.470001 | 162.929993 |
2021-01-11 | TXN | After lukewarm years, BofA says chip picks ready to take off: 'Let's get cyclical' | BofA is reiterating expectations for a sharp acceleration in growth for semiconductors, looking to a cyclical shift to benefit the high-quality sector.
After its growth rate was suppressed to a sluggish 2% over the past three years - held down by trade tensions, the pandemic and the maturing 4G smartphone cycle - the sector should see 8% compound annual growth from 2020-2022, BofA says - a quadrupling in growth rate.
It's looking to four themes in its chip investor for the coming year: infrastructure investments for advanced semiconductor manufacturing, 5G, a recovery in autos/electric vehicles, and cloud growth.
"Looking ahead we see: 1) accelerating global GDP, 5.4% in â21, per BofAe, highest since 1973; 2) Lean inventory; 3) Enhanced investments in 5G as phone units 2x YoY, semi manufacturing, re-shoring; and 3) secular tailwinds from cloud, AI, gaming, IoT and digitization of the global economy," BofA says. COVID-19 recovery could be "uneven" and rising rates would affect trade multiples, but semis can offer high-quality alpha, it says.
Its most favored area is semicap equipment, and it's raising its 2021 wafer fab equipment growth expectations to 10% from a previous 8% "driven by memory price recovery, rising capital intensity, 5G, reshoring, cloud." And there it's raising its price target on Applied Materials (NASDAQ:AMAT) to a Street high of $115, now implying 17% upside.
It also favors Lam Research (NASDAQ:LRCX), where it's raised the price target to $590 from $555 (14% upside), and KLA (NASDAQ:KLAC). And it's upgrading Teradyne (NASDAQ:TER) to Buy as a testing leader in a duopoly market, "uniquely positioned" to capture not only Apple's rising internal semi design but also to benefit from recovery in industrial/autos/robotics.
As for that cyclical recovery, its top pick is NXP Semiconductor (NXPI; where a raised target of $205 implies 18% upside); it's "most levered to autos, IoT recovery, compelling valuation, new iPhone content, potential SPX inclusion). Another top pick is II-VI (NASDAQ:IIVI), which is trading at just 3x enterprise value/sales.
It's double-upgrading MACOM Technology Solutions Holdings (NASDAQ:MTSI) to Buy, and it still likes Microchip Technology (NASDAQ:MCHP), Analog Devices (NASDAQ:ADI) and Texas Instruments (NASDAQ:TXN). While it's intrigued by turnaround prospects with a new CEO at ON Semiconductor (NASDAQ:ON), the stock already reflects most benefits.
In 5G its favored investment is Marvell (MRVL; a "content/share gainer at every non-Huawei base station vendor"), and in 5G smartphones it likes Qorvo (NASDAQ:QRVO) and Cirrus Logic (NASDAQ:CRUS). It's cutting Skyworks Solutions (NASDAQ:SWKS) to Neutral due to heavy Apple exposure.
And in cloud growth, it continues to like Nvidia (NASDAQ:NVDA) and AMD, but with "enhanced market rotation volatility." It's downgrading Cadence Design Systems (NASDAQ:CDNS) to Underperform, and is maintaining Intel (NASDAQ:INTC) at Underperform as it faces a challenging turnaround.
Overall, BofA says its top pick among the large caps is Applied Materials, while its favored SMid-cap name is II-VI. | 2021-01-12T00:00:00 | 2021-01-12T00:00:00 | 158.990005 | 161.25 | 163.490005 | 162.720001 | 161.979996 | 166.520004 | 166.289993 | 166.679993 | 162.759995 | 162 | 160.610001 | 160.119995 | 162.380005 | 162.119995 | 162.690002 | 164.070007 | 162.429993 | 162.520004 | 160.979996 | 161.639999 | 161.470001 | 161.179993 | 162.699997 | 164.130005 | 162.220001 | 163.410004 | 164.220001 | 167.940002 | 171.160004 | 171.309998 | 172.300003 | 171.410004 | 171.710007 | 169.190002 | 174.190002 | 173.330002 | 175.100006 | 172.809998 | 172.919998 | 171.470001 | 162.929993 | 169.229996 | 165.690002 | 172.460007 | 174.75 | 168.580002 |
2021-01-21 | TXN | Texas Instruments declares $1.02 dividend | Texas Instruments (NASDAQ:TXN) declares $1.02/share quarterly dividend, in line with previous.
Forward yield 2.33%
Payable Feb. 8; for shareholders of record Feb. 1; ex-div Jan. 29.
See TXN Dividend Scorecard, Yield Chart, & Dividend Growth. | 2021-01-22T00:00:00 | 2021-01-22T00:00:00 | 166.679993 | 162.759995 | 162 | 160.610001 | 160.119995 | 162.380005 | 162.119995 | 162.690002 | 164.070007 | 162.429993 | 162.520004 | 160.979996 | 161.639999 | 161.470001 | 161.179993 | 162.699997 | 164.130005 | 162.220001 | 163.410004 | 164.220001 | 167.940002 | 171.160004 | 171.309998 | 172.300003 | 171.410004 | 171.710007 | 169.190002 | 174.190002 | 173.330002 | 175.100006 | 172.809998 | 172.919998 | 171.470001 | 162.929993 | 169.229996 | 165.690002 | 172.460007 | 174.75 | 168.580002 | 172 | 169.929993 | 175.119995 | 173.690002 | 174.360001 | 179.220001 | 179.639999 |
2021-01-25 | TXN | Texas Instruments Q4 2020 Earnings Preview | Texas Instruments (NASDAQ:TXN) is scheduled to announce Q4 earnings results on Tuesday, January 26th, after market close.
The consensus EPS Estimate is $1.35 (+21.6% Y/Y) and the consensus Revenue Estimate is $3.61B (+7.8% Y/Y).
Analyst expects gross margin of 64.0% and Operating margin of 40.3%.
Over the last 2 years, TXN has beaten EPS estimates 88% of the time and has beaten revenue estimates 63% of the time.
Over the last 3 months, EPS estimates have seen 3 upward revisions and 2 downward. Revenue estimates have seen 6 upward revisions and 1 downward. | 2021-01-26T00:00:00 | 2021-01-26T00:00:00 | 162 | 160.610001 | 160.119995 | 162.380005 | 162.119995 | 162.690002 | 164.070007 | 162.429993 | 162.520004 | 160.979996 | 161.639999 | 161.470001 | 161.179993 | 162.699997 | 164.130005 | 162.220001 | 163.410004 | 164.220001 | 167.940002 | 171.160004 | 171.309998 | 172.300003 | 171.410004 | 171.710007 | 169.190002 | 174.190002 | 173.330002 | 175.100006 | 172.809998 | 172.919998 | 171.470001 | 162.929993 | 169.229996 | 165.690002 | 172.460007 | 174.75 | 168.580002 | 172 | 169.929993 | 175.119995 | 173.690002 | 174.360001 | 179.220001 | 179.639999 | 180.759995 | 178.529999 |
2021-01-27 | TXN | Strong Texas Instruments earnings report pulls semis lower on demand concerns | Yesterday, Texas Instruments (NASDAQ:TXN) reported Q4 beats and provided upside Q1 guidance. But shares are currently down 3.1% on concerns that orders are currently elevated due to fears of coming supply constraints.
Evercore analyst C.J. Muse says that "all eyes are on where we are in the cycle" and that it's "simply too early to call peak" due to the accelerating GDP, rising silicon content, and expected stimulus checks.
On the TXN earnings call, Credit Suisse analyst John Pitzker asked management to speak to the "current demand backdrop" and questioned whether the current results reflect TXN 's ability to gain incremental share on peers struggling with supply.
TXN execs responded that the company has "greater control" of its supply chain" and that the "parts are mainly catalog parts that sell into industrial and automotive," which have a "very long" product lifecycle.
Concerns about the semi bellwether's supply signals and AMD's soft margins have the sector seeing red today with movers including Xilinx (XLNX
-5.4%) ahead of its AMD merger, Microchip Technology (MCHP
-5.2%), and NXP Semiconductors (NXPI
-4.0%) and On Semi (ON
-4.1%), which both have strong auto exposure.
Source: Texas Instruments Earnings Call Transcript.
Background: Texas Instruments posts Q4 beats with an upside Q1 forecast
More background: AMD analysts slightly raise price targets as margin softness weighs on beats | 2021-01-28T00:00:00 | 2021-01-28T00:00:00 | 160.119995 | 162.380005 | 162.119995 | 162.690002 | 164.070007 | 162.429993 | 162.520004 | 160.979996 | 161.639999 | 161.470001 | 161.179993 | 162.699997 | 164.130005 | 162.220001 | 163.410004 | 164.220001 | 167.940002 | 171.160004 | 171.309998 | 172.300003 | 171.410004 | 171.710007 | 169.190002 | 174.190002 | 173.330002 | 175.100006 | 172.809998 | 172.919998 | 171.470001 | 162.929993 | 169.229996 | 165.690002 | 172.460007 | 174.75 | 168.580002 | 172 | 169.929993 | 175.119995 | 173.690002 | 174.360001 | 179.220001 | 179.639999 | 180.759995 | 178.529999 | 176.509995 | 178.350006 |
2021-01-26 | TXN | Texas Instruments posts Q4 beats with an upside Q1 forecast | Semiconductor bellwether Texas Instruments (NASDAQ:TXN) dips nearly 1% after hours despite posting Q4 beats featuring 22% Y/Y revenue growth to $4.08B.
Analog sales were up 9% on the quarter and 25% on the year. Embedded Processing increased 11% and 14%, respectively.
The company attributes the revenue performance to strength in the automotive, personal electronics, and industrial markets.
Cash flow from operations totaled $6.1B for the year with FCF of $5.5B.
TXN aims to return all of its FCF to shareholders. The company returned $6B in 2020 through repurchases and dividends.
The upside Q1 outlook includes revenue of $3.79-4.11B (consensus: $3.58B) and EPS of $1.44-1.66 (consensus: $1.34)
Press release. | 2021-01-27T00:00:00 | 2021-01-27T00:00:00 | 160.610001 | 160.119995 | 162.380005 | 162.119995 | 162.690002 | 164.070007 | 162.429993 | 162.520004 | 160.979996 | 161.639999 | 161.470001 | 161.179993 | 162.699997 | 164.130005 | 162.220001 | 163.410004 | 164.220001 | 167.940002 | 171.160004 | 171.309998 | 172.300003 | 171.410004 | 171.710007 | 169.190002 | 174.190002 | 173.330002 | 175.100006 | 172.809998 | 172.919998 | 171.470001 | 162.929993 | 169.229996 | 165.690002 | 172.460007 | 174.75 | 168.580002 | 172 | 169.929993 | 175.119995 | 173.690002 | 174.360001 | 179.220001 | 179.639999 | 180.759995 | 178.529999 | 176.509995 |
2021-01-26 | TXN | Texas Instruments EPS beats by $0.47, beats on revenue | Texas Instruments (NASDAQ:TXN): Q4 GAAP EPS of $1.80 beats by $0.47.
Revenue of $4.08B (+21.8% Y/Y) beats by $470M.
1Q21 Guidance: Revenue of $3.79B-$4.11B vs. $3.58B, EPS of $1.44-$1.66 vs. $1.34 consensus.
Shares +5%.
Press Release | 2021-01-27T00:00:00 | 2021-01-27T00:00:00 | 160.610001 | 160.119995 | 162.380005 | 162.119995 | 162.690002 | 164.070007 | 162.429993 | 162.520004 | 160.979996 | 161.639999 | 161.470001 | 161.179993 | 162.699997 | 164.130005 | 162.220001 | 163.410004 | 164.220001 | 167.940002 | 171.160004 | 171.309998 | 172.300003 | 171.410004 | 171.710007 | 169.190002 | 174.190002 | 173.330002 | 175.100006 | 172.809998 | 172.919998 | 171.470001 | 162.929993 | 169.229996 | 165.690002 | 172.460007 | 174.75 | 168.580002 | 172 | 169.929993 | 175.119995 | 173.690002 | 174.360001 | 179.220001 | 179.639999 | 180.759995 | 178.529999 | 176.509995 |
2021-01-29 | TXN | Seeking Alpha Catalyst Watch | Welcome to Seeking Alpha's Catalyst Watch - a breakdown of some of next week's actionable events that stand out. Check out Saturday morning's regular Stocks to Watch article for a full list of events planned for the week or the Seeking Alpha earnings calendar for companies due to report.
Monday - February 1
Volatility watch - GameStop (NYSE:GME) and the rest of the red-hot highly-shorted names like Fossil (NASDAQ:FOSL), Blackberry (NYSE:BB), American Airlines (NASDAQ:AAL) and Express (NYSE:EXPR) are likely to see another week of wild swings as positions unwind. Of note, some stocks that have seen an increase in short interest over the last few weeks include Summit Hotel Properties (NYSE:INN), Palantir Technologies (NYSE:PLTR), Tencent Music Entertainment Group (NYSE:TME), Solar Capital (NASDAQ:SLRC) and VOXX International (NASDAQ:VOXX).
All week - Vaccines will be in the spotlight even after Johnson & Johnson (NYSE:JNJ) reported early on its late-stage trial results. Vaxart (NASDAQ:VXRT) is anticipated to release data from its Phase I COVID-19 trial and CanSino Biologics (OTCPK:CASBF) will release results on its phase 3 vaccine trials in several countries, including Mexico.
All week - A slow week for futures contract expirations sees only the contracts for ethanol and milk roll off.
All day - It is the FDA action date for the Adamas Pharmaceuticals' (NASDAQ:ADMS) supplemental marketing application seeking approval to use Gocovri (amantadine) to treat OFF episodes in Parkinson's disease patients receiving levodopa-based therapy.
All day - Nio (NYSE:NIO) will be watched closely with the electric vehicle maker's report on January deliveries due in. Shares of Nio jumped last month when the Chinese electric vehicle upstarted reported a 121% increase in deliveries.
All day - IPO lockup periods expire on Rackspace Technology (NASDAQ:RXT) and CNS Pharma (NASDAQ:CNSP). RXT is up more than 10% from where its IPO was priced, while CNS Pharma is down sharply from its IPO pricing point.
8:00 a.m. Akoustis Technologies (NASDAQ:AKTS) will host an investor update call to provide a business update and outlook. Management will host a question-and-answer session at the end of the call. Shares of Akoustis fell back 1.4% during a similar call last November.
Tuesday - February 2
All day - The FDA action date for Mallinckrodt's (NYSE:MNK) StrataGraft regenerative skin tissue therapy for the treatment of adults with deep partial-thickness thermal burns is set. Shares of MNK rose 11% last summer when the government review was first announced.
All day - The IPO quiet periods expire for Cullinan (NASDAQ:CGEM) and Gracell Bio (NASDAQ:GRCL). Cullinan has skyrocketed more than 50% from its IPO pricing level already, while Gracell Bio has dropped sharply over the last week, but still trades about 11% higher than the pricing level.
All day - Charles Schwab (NYSE:SCHW) is expected to post its 2021 Winter Business update and highlight the company's current focus. Last year, shares of Charles Schwab rallied more than 3% after the winter update call.
9:00 a.m. Harley-Davidson (NYSE:HOG) will reveal its 2021-2025 strategic plan along with Q4 results. In front of the reveal, Harley CEO Jochen Zeitz says he is confident the substantial changes made with "The Rewire" have set the company up to successfully execute the new strategic plan. The Harley update could stoke some analyst actions out of Wall Street, where 10 out 17 firms are stuck in Neutral on HOG.
4:30 p.m. Brookfield Public Securities Group will host a webcast for the Brookfield Real Assets Income Fund (NYSE:RA). PSG will provide an update on the fund and on general market conditions, as well as answer questions.
Postmarket - Amazon's (NASDAQ:AMZN) earnings report will dominate the conversation with analysts expecting a strong quarter despite elevated costs. Keep an eye on some Amazon suppliers after the numbers drop. Air Transport Services (NASDAQ:ATSG) generates 27% of its revenue from Amazon and moves in tandem with it 75% of the time in the week after earnings. Escalade (NASDAQ:ESCA) generates 21% of its revenue from AMZN and Summer Infant (NASDAQ:SUMR) brings in 15% from the e-commerce giant. Both and move in tandem with Amazon after earnings 88% of the time over the last two years.
Wednesday - February 3
All day - The OPEC+ Joint Ministerial Monitoring Committee meeting will be held to review progress and compliance with agreed output cutbacks. While no changes are expected to the February and March targets, traders will be watching for clues on what to expect for April and May. WTI crude oil futures haven't made it over $54 per barrel in 2021.
All day - The IPO lockup periods expire on Freeline Therapeutics (NASDAQ:FRLN), Ibex Holdings (NASDAQ:IBEX), Checkmate Pharmaceuticals (NASDAQ:CMPI) and OLB Group (NASDAQ:OLB). All four traded below their IPO pricing level.
All day - The go-shop period on the RealPage (NASDAQ:RP) buyout by private equity firm Thoma Bravo expires. RealPage had two parties sign confidentiality agreements during the go-shop period.
Premarket - Apollo Global Management (NYSE:APO) and Capri (NYSE:CPRI) are the two companies reporting earnings that have the highest implied volatility based on options trading. APO is expected to swing 11.8% after earnings are posted and Capri is set up for a 10.2% move.
8:30 a.m. Match Group (NASDAQ:MTCH) holds its earnings call. Last quarter, shares took a tumble during the call when Match highlighted that while rebound has been strong across developed markets, a slower recovery was being seen in international markets that severely impacted by the pandemic. Match is going to have a trading partner soon when Bumble (BMBL) goes public.
11:00 a.m. Trxade Group (NASDAQ:MEDS) will host a virtual roadshow to present an overview of the business model and growth initiatives. The webinar will be followed by a question-and-answer session.
1:00 p.m. Citi is hosting a fireside chat with KBR (NYSE:KBR) to conducts a deep dive into the company's new technology solutions business. The firm has a Buy rating on KBR and recently boosted its price target to $37, which could indicate another bullish note will follow shortly after the chat with management.
1:00 p.m. to 7:00 p.m. A big day of speeches by Federal Reserve officials starts off with St. Louis Federal Reserve Bank President James Bullard giving a presentation on U.S. economy and monetary policy at 1:00 p.m. Also on tap to talk shop in different venues, Philadelphia Federal Reserve Bank President Patrick Harker at 2:00 p.m., Cleveland Federal Reserve Bank President Loretta Mester at 5:00 p.m., Chicago Federal Reserve Bank President Charles Evans at 5:00 p.m. and Dallas Federal Reserve Bank President Robert Kaplan at 6:05 p.m.
2:00 p.m. Nielsen (NYSE:NLSN) holds a live webinar to discuss the topsy-turvy advertising world. A review of the latest trends around ad spend and media consumption and the impacts of COVID-19 on the industry will be included, as well as a discussion on how brands can take new approaches.
2:00 p.m. The U.S. EIA releases its Annual Energy Outlook 2021 report. The widely-discussed Annual Energy Outlook provides modeled projections of domestic energy markets through 2050, including cases with different assumptions about macroeconomic growth, world oil prices, and technological progress.
Thursday - February 4
All day - There could be some noise from the small-cap world. The A.G.P. Virtual Emerging Growth Technology Conference will feature Rimini Street (NASDAQ:RMNI), DLH Holdings (NASDAQ:DLHC), LightPath Technologies (NASDAQ:LPTH), Voyage Digital (OTCQB:VYGVF) and RADA Electronic (NASDAQ:RADA). The OTC Markets Small and Microcap Investor Conference features up-and-comers like Genprex (NASDAQ:GNPX), BioSig Technologies (NASDAQ:BSGM), Skye Bioscience (OTCPK:SKYE) and VolitionRx (NYSEMKT:VNRX).
10:00 a.m. Northland Power (OTCPK:NPIFF) is set to update on the company's achievements, long-term strategy and growth outlook. The company is also slated to post information on its environmental, social, governance initiatives, and its corporate and financial targets for 2021.
11:00 a.m. Texas Instruments (NASDAQ:TXN) holds a capital management update webcast led by CFO Rafael Lizardi. The company is scheduled to update on the strategy to maximize long-term growth of free cash flow per share and review TI's 2020 performance against its stated capital management metrics. Management expectations for performance in the years ahead will also be discussed. Ahead of the update, Bank of America highlights TXN's best-in-class 40% free cash flow margins even at the relative trough of the cycle that it thinks can continue to provide a strong base for industry-leading dividend growth and buybacks. BofA thinks the call could provide clarity on capital allocation plans. Last year, investors heard enough out of the TXN capital management update to bid up TXN shares by 2.5% that day.
12:00 p.m. to 2:30 p.m. Nordstrom (NYSE:JWN) hosts a virtual investor event, during which senior executives will discuss the company's long-term growth strategy, strategic priorities and drivers of value creation.
11:00 a.m. Genprex (GNPX) will present at the Virtual Investor Conference Small and Microcap Showcase. The company will deliver a virtual company overview, including recent progress made on its upcoming clinical trials. An update on the development and results of the Ii-Key complete vaccine against the SARS-CoV-2 coronavirus is also expected.
11:15 a.m. to 1:30 p.m. The 28th Annual Emerald Groundhog Day Investment Forum will feature presentations from a long list of smaller-sized companies - including Trex Company (NYSE:TREX), Chicken Soup for the Soul Entertainment (NASDAQ:CSSE), Simply Good Foods (NASDAQ:SMPL), New Fortress Energy (NASDAQ:NFE), Freshpet (NASDAQ:FRPT) and American Superconductor.
Postmarket Companies reporting after the closing bell with a high level of volatility implied by options trading include GoPro (NASDAQ:GPRO), Snap (NYSE:SNAP) and Pinterest (NYSE:PINS). All three saw significant share price moves last year after earnings were disclosed and guidance/business outlooks were updated on the calls.
4:15 p.m. Investors will be listening to the DXC Technology (NYSE:DXC) earnings conference call for an update on the recent approach by Atos (OTCPK:AEXAF) on a takeover. Shares of DXC have dropped back from the level they stood right after the takeover was first reported in early January.
7:15 p.m. Former Google (NASDAQ:GOOGL) CEO Eric Schmidt will participate in The Information's Future of Startups: Lessons for Next-Gen Disruptors in a conversation with The Information CEO Jessica Lessin. The talk will cover how founders are exploiting new and traditional capital opportunities, as well as a slew of exit opportunities in the world of IPOs and SPACs.
Friday - February 5
Premarket - Mercurity Fintech Holding (NASDAQ:MFH) holds an extraordinary general meeting of shareholders in Beijing. Volatility has picked up on MFH in front of the meeting.
Premarket - Adient (NYSE:ADNT) and Meridian Bioscience (NASDAQ:VIVO) have the highest implied volatility based on options trading of the companies due to report earnings. Adient is expected to move 10.9% after earnings are posted and VIVO is set up for a 27.5% jump.
8:30 a.m. The U.S. jobs reports will turn attention back to the underlying economy. Bank of America expects 200K jobs adds to beat the 50K consensus estimate. The unemployment is expected to stay at 6.7%. "Wage growth measured by average hourly earnings should moderate to 0.3% mom after surging 0.8% mom in December which was likely due to compositional effects and distorted hiring patterns throughout the holiday shopping season. Average weekly hours likely remained elevated at 34.7 hours in January," previews the firmm.
8:30 a.m. Aon plc (NYSE:AON) will hold its earnings conference call. Investors will be looking for an update on the Willis Towers Watson (NASDAQ:WLTW) deal. Per the deal terms, Willis Towers Watson shareholders will get 1.08 Aon shares for each WLTW share.
9:00 a.m. Generex Biotechnology Corporation (OTCQB:GNBT) will hold a conference call to update investors about the development of the company's Ii-Key complete vaccine against the SARS-CoV-2 coronavirus and the results of am ongoing immunogenicity study that will confirm the commercial viability of our Ii-Key vaccine. | 2021-01-30T00:00:00 | 2021-02-01T00:00:00 | 162.119995 | 162.690002 | 164.070007 | 162.429993 | 162.520004 | 160.979996 | 161.639999 | 161.470001 | 161.179993 | 162.699997 | 164.130005 | 162.220001 | 163.410004 | 164.220001 | 167.940002 | 171.160004 | 171.309998 | 172.300003 | 171.410004 | 171.710007 | 169.190002 | 174.190002 | 173.330002 | 175.100006 | 172.809998 | 172.919998 | 171.470001 | 162.929993 | 169.229996 | 165.690002 | 172.460007 | 174.75 | 168.580002 | 172 | 169.929993 | 175.119995 | 173.690002 | 174.360001 | 179.220001 | 179.639999 | 180.759995 | 178.529999 | 176.509995 | 178.350006 | 173.089996 | 172.850006 |
2021-02-03 | TXN | Auto chip shortage could continue until third quarter - IHS Markit | The global automotive chip shortage could impact 672,000 light vehicle production units in Q1, according to new IHS Markit data.
"Because the cause of these constraints is the result of increasing demand from OEMs and limited supply of semiconductors, it will not be resolved until both forces are aligned,â says Phil Amsrud, senior principal analyst-ADAS, Semiconductors and Components at IHS.
The research firm says the impact of the shortage could stretch into Q3.
Ford, Toyota, Fiat Chrysler, and Nissan have all cut production output due to the shortage, and Volkswagen expects the constraints to hit its production this month.
Top automotive chipmakers include Texas Instruments (TXN
-2.4%), NXP Semiconductors (NXPI
-1.0%), ON Semiconductor (ON
-0.2%), Infineon (OTCQX:IFNNY) and STMicroelectronics (STM
-2.1%).
Last month, Taiwan's Economics Ministry pledged that foundry giant TSMC would prioritize auto chips if the company is able to increase its capacity. | 2021-02-04T00:00:00 | 2021-02-04T00:00:00 | 162.429993 | 162.520004 | 160.979996 | 161.639999 | 161.470001 | 161.179993 | 162.699997 | 164.130005 | 162.220001 | 163.410004 | 164.220001 | 167.940002 | 171.160004 | 171.309998 | 172.300003 | 171.410004 | 171.710007 | 169.190002 | 174.190002 | 173.330002 | 175.100006 | 172.809998 | 172.919998 | 171.470001 | 162.929993 | 169.229996 | 165.690002 | 172.460007 | 174.75 | 168.580002 | 172 | 169.929993 | 175.119995 | 173.690002 | 174.360001 | 179.220001 | 179.639999 | 180.759995 | 178.529999 | 176.509995 | 178.350006 | 173.089996 | 172.850006 | 179.389999 | 170.529999 | 172.270004 |
2021-02-06 | TXN | Auto chip shortage driving $61B in lost sales faces complicated recovery | Last week, Ford (NYSE:F) cut shifts at its truck plants producing the highly profitable F-150, citing the global automotive chip shortage. GM (NYSE:GM) will completely pause production for all of next week at plants in Kansas, Ontario, and Mexico and said the semiconductor shortage would impact production in 2021. Research firm IHS Markit said the auto chip constraints could impact 672,000 light vehicle production units in Q1, and struggles from the shortage could last into Q3. And the overall hit to the auto industry has been estimated at $61B.
So whatâs causing the global chip shortage? What other companies or industries are impacted? And when will supplies return to meet demand?
Image source: IHS Markit.
What caused the auto chip shortage?
There is actually a broad-based semiconductor shortage but auto companies are taking the hardest hit due to the pandemic and how foundries assign and adjust production capacity.
Vehicle sales plunged after COVID-19 and the associated lockdowns spread around the world Automakers cut production due to the drop in demand, which also meant they cut orders for semiconductors. Modern vehicles incorporate dozens of chips for a number of uses, including navigation technology and advanced driver-assistance systems.
The drop in auto demand didnât dent large global foundries like TSMC (NYSE:TSM) and Samsung (OTC:SSNNF,OTC:SSNLF) because auto OEMs only represent about one-tenth of the global semiconductor output. The foundries simply assigned the new capacity vacancies to areas that boomed during the pandemic, like gaming and PCs.
The global auto industry is now recovering as restrictions ease and stimulus payments go out. Chipmakers canât rapidly add capacity so the auto industry is left waiting in the wings until additional capacity comes online, which isnât as simple as hitting a switch to fire up a production line.
What companies are suffering the least during the shortage?
Some automakers didnât adjust semiconductors orders during the pandemic and thus didnât lose their capacity spots at the foundries. Hyundai and Toyota are two notable examples.
Auto chip suppliers can use the shortages to increase prices on the supplies that are present. STMicroelectronics (NYSE:STM) raised its prices at the start of this year. Last week, NXP Semiconductors (NASDAQ:NXPI) warned that its suppliers had raised prices and the cost would have to be passed on to customers.
Top global auto semi suppliers also include Texas Instruments (NASDAQ:TXN), Infineon (OTCQX:IFNNY), Renesas, Xilinx (NASDAQ:XLNX), and ON Semiconductor (NASDAQ:ON).
When will the shortage ease?
There are a number of factors at play that all need to stabilize before the shortage eases, but the main issues are foundry capacity and the pandemic-driven imbalance in demand for various end-markets.
Taiwan's government recently announced that foundries TSMC and United Microelectronics (NYSE:UMC) are committed to prioritizing auto chips if additional capacity becomes available. Early this year, TSMC forecast $25-28B in 2021 capex, which was 50% above expectations.
But capacity adds don't happen quickly and there are shortages elsewhere in the semi manufacturing supply chain. For example, the high chip demand has pushed delivery times for chip substrate ajinomoto build-up film or ABF out to more than 30 weeks even after a substrate capacity increase.
In an interview with Nikkei Asia last week, the CEO of Xilinx warned of a prolonged shortage due to those supply chain constraints, and said he hoped the shortage wouldn't last all year.
And automotive isn't the only industry being hit by the chip shortage. '
People are still struggling to get their hands on the next-gen gaming consoles from Microsoft and Sony. In Q4, AMD lost PC market share for the first time since 2017 due to its supply constraints, which the company warned could continue through H1. And Qualcomm recently warned that the "shortage in the semiconductor industry is across the board" and posted earnings results that missed estimates on the top line with a soft current quarter outlook. | 2021-02-07T00:00:00 | 2021-02-08T00:00:00 | 160.979996 | 161.639999 | 161.470001 | 161.179993 | 162.699997 | 164.130005 | 162.220001 | 163.410004 | 164.220001 | 167.940002 | 171.160004 | 171.309998 | 172.300003 | 171.410004 | 171.710007 | 169.190002 | 174.190002 | 173.330002 | 175.100006 | 172.809998 | 172.919998 | 171.470001 | 162.929993 | 169.229996 | 165.690002 | 172.460007 | 174.75 | 168.580002 | 172 | 169.929993 | 175.119995 | 173.690002 | 174.360001 | 179.220001 | 179.639999 | 180.759995 | 178.529999 | 176.509995 | 178.350006 | 173.089996 | 172.850006 | 179.389999 | 170.529999 | 172.270004 | 177.669998 | 174.889999 |
2021-02-10 | TXN | Auto chip stocks gain as GM warns of $2B shortage impact | General Motors warns the global automotive chip shortage could cut 2021 earnings by up to $2 billion, which is bad news for automakers but better news for the chip suppliers who can increase prices on existing supplies.
Auto chip suppliers gaining in pre-market trading include NXP Semiconductors (NASDAQ:NXPI) +1.8%, Texas Instruments (NASDAQ:TXN) +0.6%, ON Semiconductor (NASDAQ:ON)
+2.5%. STMicroelectronics (NYSE:STM) is currently slightly in the red but that situation could change after the open. Foundry giant TSMC (NYSE:TSM) is up 1.3%.
The semiconductor shortage happened due to quick shifts in demand during the pandemic, which has created a complicated path to recovery. | 2021-02-11T00:00:00 | 2021-02-11T00:00:00 | 161.179993 | 162.699997 | 164.130005 | 162.220001 | 163.410004 | 164.220001 | 167.940002 | 171.160004 | 171.309998 | 172.300003 | 171.410004 | 171.710007 | 169.190002 | 174.190002 | 173.330002 | 175.100006 | 172.809998 | 172.919998 | 171.470001 | 162.929993 | 169.229996 | 165.690002 | 172.460007 | 174.75 | 168.580002 | 172 | 169.929993 | 175.119995 | 173.690002 | 174.360001 | 179.220001 | 179.639999 | 180.759995 | 178.529999 | 176.509995 | 178.350006 | 173.089996 | 172.850006 | 179.389999 | 170.529999 | 172.270004 | 177.669998 | 174.889999 | 170.589996 | 163.25 | 167.940002 |
2021-02-11 | TXN | Does the semiconductor shortage need another Operation Warp Speed? | General Motors (NYSE:GM) became the latest automaker yesterday to warn about a chip shortage, saying the semiconductor crunch could cut its earnings by $1.5B-$2B in 2021. It's not alone. Many companies across multiple industries have been flagging the problem in recent months, such as AMD (NASDAQ:AMD) and Qualcomm (NASDAQ:QCOM), which sell chips to most of the top electronics firms, or Sony (NYSE:SNE), which blamed the shortage for why it's so hard to get a PS5.
What's going on? The COVID-19 pandemic triggered a surge in demand for PCs and other electronics as remote work and online learning became the new normal. Demand still remains at highs. In December, the Semiconductor Industry Association said global chip sales would grow 8.4% in 2021 from 2020's total of $433B (up from 5.1% growth between 2019 and 2020). Other reasons include shifting semiconductor models that have created a bottleneck among outsourced chip factories, as well as effects from the years-long trade war with China.
Go deeper: Many top semiconductor companies are now "fabless," meaning they only design the chips and the technology inside of them. Other companies, known as foundries, are contracted to actually make the chips, such as TSMC (NYSE:TSM) in Taiwan or Samsung (OTC:SSNLF) in South Korea. The shift to outsourcing has had a big effect on structural changes and related capacity (i.e. if a company cut orders in the early days of the pandemic, they had to go to the back of the line).
"We need more chips and we need more jobs," CNBC's Jim Cramer said on Mad Money. "Why not kill two birds with one stone? It's time for our government to invest in building the biggest and best complex of semiconductor foundries in the world." To put it in perspective, even if a "$0.10 chip is missing, you can't sell your $30,000 car," added Gaurav Gupta, semiconductor analyst at Gartner. Automakers also generally use "just-in-time" production to avoid having extra parts in storage, while the warning from GM sent auto chip stocks higher during the session on Wednesday.
Related: Nvidia (NASDAQ:NVDA), Analog Devices (NASDAQ:ADI), Ambarella (NASDAQ:AMBA), United Microelectronics (NYSE:UMC) STMicroelectronics (NYSE:STM), NXP Semiconductors (NASDAQ:NXPI), Texas Instruments (NASDAQ:TXN), Infineon (OTCQX:IFNNY), Xilinx (NASDAQ:XLNX) and ON Semiconductor (NASDAQ:ON). | 2021-02-12T00:00:00 | 2021-02-12T00:00:00 | 162.699997 | 164.130005 | 162.220001 | 163.410004 | 164.220001 | 167.940002 | 171.160004 | 171.309998 | 172.300003 | 171.410004 | 171.710007 | 169.190002 | 174.190002 | 173.330002 | 175.100006 | 172.809998 | 172.919998 | 171.470001 | 162.929993 | 169.229996 | 165.690002 | 172.460007 | 174.75 | 168.580002 | 172 | 169.929993 | 175.119995 | 173.690002 | 174.360001 | 179.220001 | 179.639999 | 180.759995 | 178.529999 | 176.509995 | 178.350006 | 173.089996 | 172.850006 | 179.389999 | 170.529999 | 172.270004 | 177.669998 | 174.889999 | 170.589996 | 163.25 | 167.940002 | 162.110001 |
2021-02-11 | TXN | Semiconductor stocks rally as Biden plans supply chain executive order | President Joe Biden plans to sign an executive order in the coming weeks to authorize supply chain reviews for critical goods like semiconductors.
White House press secretary Jen Psaki says the administration is "identifying potential chokepoints in the supply chain and actively working alongside key stakeholders in industry and with our trading partners to do more now."
In a letter a consortium of U.S. chip companies that includes Intel, Qualcomm, and Advanced Micro Devices asked Biden for "substantial funding for incentives for semiconductor manufacturing" as part of the economic recovery and infrastructure plans.
The Philadelphia Semiconductor Index (NASDAQ:SOXX) is trading up 2.8% versus the 0.7% gain for the broader tech sector (NYSEARCA:XLK).
Leading the semi charge higher are U.S.-based semi equipment companies KLA (KLAC
+8.4%), Lam Research (LRCX
+7.6%), and Applied Materials (AMAT
+7.4%), which would all benefit from capacity expansions. Taiwan-based TSMC (TSM
+3.5%), which already has plans for a new fab in Arizona, is moving higher.
Auto chip suppliers Texas Instruments (TXN
+2.3%) and NXP Semi (NXPI
+2.5%) are also in the green.
The global semiconductor shortage is hitting the automotive industry the hardest, potentially erasing $61B in sales this year. | 2021-02-12T00:00:00 | 2021-02-12T00:00:00 | 162.699997 | 164.130005 | 162.220001 | 163.410004 | 164.220001 | 167.940002 | 171.160004 | 171.309998 | 172.300003 | 171.410004 | 171.710007 | 169.190002 | 174.190002 | 173.330002 | 175.100006 | 172.809998 | 172.919998 | 171.470001 | 162.929993 | 169.229996 | 165.690002 | 172.460007 | 174.75 | 168.580002 | 172 | 169.929993 | 175.119995 | 173.690002 | 174.360001 | 179.220001 | 179.639999 | 180.759995 | 178.529999 | 176.509995 | 178.350006 | 173.089996 | 172.850006 | 179.389999 | 170.529999 | 172.270004 | 177.669998 | 174.889999 | 170.589996 | 163.25 | 167.940002 | 162.110001 |
2021-02-16 | TXN | Auto chip shortage could impact 1 million vehicles in Q1 | Significantly increasing its prior forecast, research firm IHS Markit says the global shortage of auto chips could impact nearly 1 million units of global light vehicle production in the first quarter
The previous impact forecast was for 672,000 vehicles.
The chip shortage happened due to a combination of pandemic-related supply chain disruption and wild swings in demand.
Auto sales plunged, causing automakers to slash orders, which led to foundries like TSMC (NYSE:TSM) reassigning the capacity to in-demand areas like smartphones and 5G infrastructure.
Related auto chip stocks: NXP Semiconductors (NASDAQ:NXPI). STMicroelectronics (NYSE:STM), Texas Instruments (NASDAQ:TXN), and ON Semiconductor (NASDAQ:ON).
IHS expects the vehicle capacity to be recovered during the rest of 2021 and previously said the shortage strain could last until Q3. | 2021-02-17T00:00:00 | 2021-02-17T00:00:00 | 162.220001 | 163.410004 | 164.220001 | 167.940002 | 171.160004 | 171.309998 | 172.300003 | 171.410004 | 171.710007 | 169.190002 | 174.190002 | 173.330002 | 175.100006 | 172.809998 | 172.919998 | 171.470001 | 162.929993 | 169.229996 | 165.690002 | 172.460007 | 174.75 | 168.580002 | 172 | 169.929993 | 175.119995 | 173.690002 | 174.360001 | 179.220001 | 179.639999 | 180.759995 | 178.529999 | 176.509995 | 178.350006 | 173.089996 | 172.850006 | 179.389999 | 170.529999 | 172.270004 | 177.669998 | 174.889999 | 170.589996 | 163.25 | 167.940002 | 162.110001 | 170.360001 | 169.419998 |
2021-02-23 | TXN | Texas Instruments upgraded at Raymond James ahead of several strong quarters | Saying the company's "fortuitous decision to build inventory during last yearâs downturn should serve them well amid widespread shortages," Raymond James upgrades Texas Instruments (NASDAQ:TXN) from Market Perform to Outperform.
Analyst Chris Caso had preferred semiconductor companies participating in the accelerated industry consolidation, but Caso thinks the consolidation period is coming to an end.
Caso sees "strong business conditions over the next several quarters" for TXN.
Texas Instruments shares are flat pre-market at $173.09.
Last month, TXN reported Q4 beats with upside guidance and responded to analyst concerns that orders were only elevated ahead of the expected supply constraints. | 2021-02-24T00:00:00 | 2021-02-24T00:00:00 | 171.309998 | 172.300003 | 171.410004 | 171.710007 | 169.190002 | 174.190002 | 173.330002 | 175.100006 | 172.809998 | 172.919998 | 171.470001 | 162.929993 | 169.229996 | 165.690002 | 172.460007 | 174.75 | 168.580002 | 172 | 169.929993 | 175.119995 | 173.690002 | 174.360001 | 179.220001 | 179.639999 | 180.759995 | 178.529999 | 176.509995 | 178.350006 | 173.089996 | 172.850006 | 179.389999 | 170.529999 | 172.270004 | 177.669998 | 174.889999 | 170.589996 | 163.25 | 167.940002 | 162.110001 | 170.360001 | 169.419998 | 174.949997 | 173.570007 | 174.910004 | 177.139999 | 179.350006 |
2021-03-06 | TXN | Four tech stocks that offer solid yield and dividend growth - Barron's | Tech stocks typically require a tradeoff for equity income investors of low yields in exchange for growing dividends, but this weekend's issue of Barron's taps four tech companies that offer both attractive dividend yields and growth: Cisco Systems (NASDAQ:CSCO), Qualcomm (NASDAQ:QCOM), Broadcom (NASDAQ:AVGO) and Texas Instruments (NASDAQ:TXN).
Investors should balance dividend yield and valuation, Matrix Asset Advisors' David Katz tells Barron's, and he thinks Cisco Systems (CSCO) and Qualcomm (QCOM) meet the criteria.
Cisco, which yields 3.3%, recently traded at 14.3x earnings expectations for this fiscal year, while Qualcomm, which is well positioned as a play on the 5G rollout, has a lower dividend yield of 2% and recently traded at 18.7x this fiscal year's profit estimates.
Another stock with an attractive yield and big dividend growth is Broadcom, which recently yielded 3.1% and has a history of making big acquisitions.
Texas Instruments (TXN), which recently was yielding 2.4%, has been returning capital through dividends and stock buybacks, and Gilman Hill Asset Management's Jenny van Leeuwen Harrington says the company's free cash flow grew at a 12% annual rate during 2004-2020, which has "ultimately supported the dividend."
But aside from a few names such as Cisco, "you should look for growth and reasonable valuation from tech, and get your income from other areas," Katz says.
J.P. Morgan just jacked up its Cisco stock rating to Overweight from Neutral on valuation, citing the company's shift toward subscriptions and the recovery in enterprise IT spending. | 2021-03-07T00:00:00 | 2021-03-08T00:00:00 | 172.809998 | 172.919998 | 171.470001 | 162.929993 | 169.229996 | 165.690002 | 172.460007 | 174.75 | 168.580002 | 172 | 169.929993 | 175.119995 | 173.690002 | 174.360001 | 179.220001 | 179.639999 | 180.759995 | 178.529999 | 176.509995 | 178.350006 | 173.089996 | 172.850006 | 179.389999 | 170.529999 | 172.270004 | 177.669998 | 174.889999 | 170.589996 | 163.25 | 167.940002 | 162.110001 | 170.360001 | 169.419998 | 174.949997 | 173.570007 | 174.910004 | 177.139999 | 179.350006 | 174.360001 | 175.979996 | 180.100006 | 178.779999 | 178.899994 | 178.490005 | 188.199997 | 186.179993 |
2021-03-23 | TXN | Texas Instruments, Microchip upped to Buy with semi cycle in 'middle innings' | Saying that the "semi cycle is far from over," Longbow Research upgrades Texas Instruments (NASDAQ:TXN) and Microchip Technology (NASDAQ:MCHP) to Buy with price targets of $220 and $188, respectively.
Key quote:"We are turning more bullish as we see the semi cycle in middle innings and far from over as our work points to lean inventory and stretched semi lead times preventing the S/D gap (which by some industry accounts is as high as 30%) from closing near-term."
The TXN upgrade is attributed to "share gains opportunity, sales/margin upside, and below historical relative valuation."
MCHP offers margin upside and "a pivot to cash returns that should drive a re-rating in-line with analog peers."
Texas Instruments shares are up 1% pre-market to $181.80. Microchip is up 1.7% to $157.54.
Related: Renesas, auto chip peer of TXN and MCHP, will have one production facility down for up to a month after a fire, further tightening the global chip shortage. | 2021-03-24T00:00:00 | 2021-03-24T00:00:00 | 173.690002 | 174.360001 | 179.220001 | 179.639999 | 180.759995 | 178.529999 | 176.509995 | 178.350006 | 173.089996 | 172.850006 | 179.389999 | 170.529999 | 172.270004 | 177.669998 | 174.889999 | 170.589996 | 163.25 | 167.940002 | 162.110001 | 170.360001 | 169.419998 | 174.949997 | 173.570007 | 174.910004 | 177.139999 | 179.350006 | 174.360001 | 175.979996 | 180.100006 | 178.779999 | 178.899994 | 178.490005 | 188.199997 | 186.179993 | 185.940002 | 188.990005 | 192.059998 | 196.929993 | 194.589996 | 193.089996 | 195.199997 | 195.429993 | 192.429993 | 191.240005 | 190.330002 | 193.169998 |
2021-03-23 | TXN | Renesas fire-related production pause could last three months, says TrendForce | Yesterday, chipmaker Renesas (OTCPK:RNECF,OTCPK:RNECY) said production would be paused for up to one month at the N3 building at the Naka Factory located in Hitachinaka, Ibaraki Prefecture, due to last week's fire in the clean room.
Research firm TrendForce
says three months is its conservative estimate for when the fab can get back to its pre-fire level of wafer start capacity.
The Naka fab mainly produces MCUs and SoCs for automotive, industrial, and IoT application. The N3 building houses the 12-inch product lines.
Renesas is one of the top five largest automotive MCU suppliers along with StMicroelectronics (STM
-3.4%), Infineon, NXP Semiconductors (NXPI
-5.0%), Texas Instruments (TXN
-1.2%), and Microchip (MCHP
-3.7%).
The fire will add to the ongoing global semiconductor shortage, which also means foundries don't have the capacity to quickly help Renesas replace lost production. And the auto chip peers likewise lack the capacity to financially benefit from orders shifted from Renesas.
Related: Earlier today, Texas Instruments and Microchip were upgraded to Buy at Longbow as the "semi cycle is far from over." | 2021-03-24T00:00:00 | 2021-03-24T00:00:00 | 173.690002 | 174.360001 | 179.220001 | 179.639999 | 180.759995 | 178.529999 | 176.509995 | 178.350006 | 173.089996 | 172.850006 | 179.389999 | 170.529999 | 172.270004 | 177.669998 | 174.889999 | 170.589996 | 163.25 | 167.940002 | 162.110001 | 170.360001 | 169.419998 | 174.949997 | 173.570007 | 174.910004 | 177.139999 | 179.350006 | 174.360001 | 175.979996 | 180.100006 | 178.779999 | 178.899994 | 178.490005 | 188.199997 | 186.179993 | 185.940002 | 188.990005 | 192.059998 | 196.929993 | 194.589996 | 193.089996 | 195.199997 | 195.429993 | 192.429993 | 191.240005 | 190.330002 | 193.169998 |
2021-03-26 | TXN | Auto chip shortage worsens after blackouts and fire, sending semi suppliers higher | Earlier today, Nio announced a five-day production suspension at the JAC-NIO manufacturing plant in Hefei due to the global semiconductor shortage. No dropped its Q1 vehicle delivery forecast to 19.5M from the prior 20-20.5M range.
The semiconductor shortage was largely due to spiking pandemic-related demand for notebooks, smartphones, game consoles and other consumer electronics. The auto industry faced plunging demand early in the pandemic. Automakers largely cut chip orders and lost their already low priority at semiconductor foundries.
The auto industry then rebounded faster than expected, leaving the automakers scrambling for foundry capacity that doesn't exist.
Adding capacity take significant time and money even for foundry giant TSMC (TSM
+2.6%). The shortage was also recently worsened by a weather-related blackout in Austin, Texas, and a fire at a fab of auto chip giant Renesas (OTCPK:RNECF,OTCPK:RNECY).
Last month, Austin authorities asked the local foundry of Samsung (OTC:SSNNF,OTC:SSNLF) and fabs of chip suppliers NXP Semiconductors (NXPI
+1.1%) and Infineon (OTCQX:IFNNY) to pause operations due to the local blackouts.
Last week, Infineon said the operations pause will have a negative impact in the high double-digit million euro range on Q3 revenue.
The same day, Renesas first revealed a fire in one building of a facility that produces components for automotive, industrial, and IoT components. The company said the fire damage will take its 12-inch production offline for up to a month.
Research firm TrendForce estimates that it will take at least three months for Renesas to return to pre-fire production levels. And, due to the semiconductor shortage, there isn't external foundry capacity available to cover the lost production.
The continuing shortages do offer pricing power to the auto chip suppliers for the stock they do have, which is pushing shares of market players STMicroelectronics (STM
+2.2%), Texas Instruments (TXN
+1.9%), and Microchip (MCHP
+1.3%) higher.
Deeper dive: Auto chip shortage driving $61B in lost sales faces complicated recovery | 2021-03-27T00:00:00 | 2021-03-29T00:00:00 | 179.639999 | 180.759995 | 178.529999 | 176.509995 | 178.350006 | 173.089996 | 172.850006 | 179.389999 | 170.529999 | 172.270004 | 177.669998 | 174.889999 | 170.589996 | 163.25 | 167.940002 | 162.110001 | 170.360001 | 169.419998 | 174.949997 | 173.570007 | 174.910004 | 177.139999 | 179.350006 | 174.360001 | 175.979996 | 180.100006 | 178.779999 | 178.899994 | 178.490005 | 188.199997 | 186.179993 | 185.940002 | 188.990005 | 192.059998 | 196.929993 | 194.589996 | 193.089996 | 195.199997 | 195.429993 | 192.429993 | 191.240005 | 190.330002 | 193.169998 | 191.929993 | 187.059998 | 185.270004 |
2021-03-27 | TXN | Chip shortage rages on, but reshoring opportunities are growing: Alpha Tactics | The semiconductor shortage continues to impact different segments of the market.
On Friday, Nio temporarily suspended vehicle production at the JAC-NIO manufacturing plant in Hefei for five days due to lack of chips.
And Stellantis said it would temporarily close five North American plants.
The chip shortage was largely due to spiking pandemic-related demand for notebooks, smartphones, game consoles and other consumer electronics. And the auto industry cut orders for chips when demand plunged at the start of lockdowns and lost their already low priority at semiconductor foundries.
Semi equipment makers gained this past week, with Applied Materials (NASDAQ:AMAT) up 12%, KLA-Tencor (NASDAQ:KLAC) up 9% and Lam Research (NASDAQ:LRCX) up nearly 8%.
Auto chipmakers, which are getting pricing power, also gained, with STMicroelectronics (NYSE:STM) up 4%, Texas Instruments (NASDAQ:TXN) up 7% and Microchip (NASDAQ:MCHP) up nearly 4%, all higher three weeks in a row.
The Philadelphia Semiconductor ETF (NASDAQ:SOXX) rose nearly 3% last week and the VanEck Vectors Semiconductor ETF (NASDAQ:SMH) rose 3.4%.
âThe semi shortage has highlighted the vulnerability of the supply chain for the US,â UBS says.
But Congressional and White House incentives for domestic production and a âsea changeâ on how companies view the supply chain could âaccelerate the reshoring trend that has been a focus since the disruptive events of COVID-19 and the US China trade dispute,â the bank argues.
âCompanies have recently commented on how the transition of supply chains out of China last year has helped them to weather the current crisis,â analyst Adam Scheiner writes in a note. âThe crisis has also highlighted how companies cannot afford to have all their supply coming from one country that could shut down their entire manufacturing footprint. Localizing efforts could cause a boost in new factory construction, which could benefit companies exposed to automation and robotics technologies.â
He adds that new plants should have greater automation, which could benefit stocks in that area (see UBS chart below).
Rockwell Automation (NYSE:ROK) is an âobvious beneficiaryâ and its ârecent acquisitions have also dealt with remote monitoring and virtualization which has added attractiveness due to the recent pandemic.â
Emerson (NYSE:EMR) is another beneficiary, while Honeywell (NYSE:HON) has increased its automation exposure.
UBS also sees new spending for manufacturing and factory floor, good for Parker-Hannifin (NYSE:PH) and Fortive (NYSE:FTV).
Meanwhile, Seeking Alpha contributor Kwan-Chen argues Nvidia is not as vulnerable to the chip shortage as previously thought, and may emerge from tight supply earlier than rivals. | 2021-03-28T00:00:00 | 2021-03-29T00:00:00 | 179.639999 | 180.759995 | 178.529999 | 176.509995 | 178.350006 | 173.089996 | 172.850006 | 179.389999 | 170.529999 | 172.270004 | 177.669998 | 174.889999 | 170.589996 | 163.25 | 167.940002 | 162.110001 | 170.360001 | 169.419998 | 174.949997 | 173.570007 | 174.910004 | 177.139999 | 179.350006 | 174.360001 | 175.979996 | 180.100006 | 178.779999 | 178.899994 | 178.490005 | 188.199997 | 186.179993 | 185.940002 | 188.990005 | 192.059998 | 196.929993 | 194.589996 | 193.089996 | 195.199997 | 195.429993 | 192.429993 | 191.240005 | 190.330002 | 193.169998 | 191.929993 | 187.059998 | 185.270004 |
2021-03-29 | TXN | Fire at auto chip supplier Renesas caused more damage than expected | The recent fire at a Renesas (OTCPK:RNECF,OTCPK:RNECY) manufacturing facility affected 17 machines, six more than the company originally reported, according to a Nikkei Asian Review report.
The company says the damage from soot was worse than initially anticipated. The fire damaged production lines that produce advanced 300mm semiconductor wafers.
Renesas provides about one-third of the global supply of microcontroller units for the automotive industry. Two-thirds of the chips produced at the facility that had the fire were for the auto industry. Note that two out of the facility's three fabs remain in operation.
Other auto chip companies: NXP Semiconductor (NXPI
-2.4%), STMicroelectronics (STM
-2.1%), ON Semi (ON
-3.3%), and Texas Instruments (TXN
-1.1%).
Related: Renesas initially forecast a production pause of at least a month, but research firm TrendForce said it will be at least three months before production level ramps to pre-fire levels. | 2021-03-30T00:00:00 | 2021-03-30T00:00:00 | 180.759995 | 178.529999 | 176.509995 | 178.350006 | 173.089996 | 172.850006 | 179.389999 | 170.529999 | 172.270004 | 177.669998 | 174.889999 | 170.589996 | 163.25 | 167.940002 | 162.110001 | 170.360001 | 169.419998 | 174.949997 | 173.570007 | 174.910004 | 177.139999 | 179.350006 | 174.360001 | 175.979996 | 180.100006 | 178.779999 | 178.899994 | 178.490005 | 188.199997 | 186.179993 | 185.940002 | 188.990005 | 192.059998 | 196.929993 | 194.589996 | 193.089996 | 195.199997 | 195.429993 | 192.429993 | 191.240005 | 190.330002 | 193.169998 | 191.929993 | 187.059998 | 185.270004 | 188.899994 |
2021-03-30 | TXN | Texas Instruments upgraded at KeyBanc on long-term growth potential | Texas Instruments (NASDAQ:TXN) opted not to increase prices or capacity despite the global semiconductor shortage, which is "driving incremental share gains that should lead to outperformance over the next several years," according to a KeyBanc upgrade.
Analyst John Vinh moves TXN from Sector Weight to Overweight with a $225 price target.
Vinh says the company is "well positioned near term to service demand" with the ability to sustain higher margins over the longer-term.
Texas Instruments shares are up nearly 1% to $187.63.
Related: During the Q4 earnings call in January, TXN management said the company has "greater control" of its supply chain than its peers. | 2021-03-31T00:00:00 | 2021-03-31T00:00:00 | 178.529999 | 176.509995 | 178.350006 | 173.089996 | 172.850006 | 179.389999 | 170.529999 | 172.270004 | 177.669998 | 174.889999 | 170.589996 | 163.25 | 167.940002 | 162.110001 | 170.360001 | 169.419998 | 174.949997 | 173.570007 | 174.910004 | 177.139999 | 179.350006 | 174.360001 | 175.979996 | 180.100006 | 178.779999 | 178.899994 | 178.490005 | 188.199997 | 186.179993 | 185.940002 | 188.990005 | 192.059998 | 196.929993 | 194.589996 | 193.089996 | 195.199997 | 195.429993 | 192.429993 | 191.240005 | 190.330002 | 193.169998 | 191.929993 | 187.059998 | 185.270004 | 188.899994 | 185.800003 |
2021-03-31 | TXN | Global chip shortage could cost automakers 1.3M production vehicles in Q2 | A recent winter storm in Texas and fire at a Renesas (OTCPK:RNECF,OTCPK:RNECY) chip fab have left Q2 automotive output "as exposed" to the global chip quarter as Q1, according to IHS Markit. Semi supplies might not stabilize until Q4.
The shortage could cost automakers 1.3M production vehicles during the second quarter.
Early last month, IHS Markit said the shortage could impact 672,000 light vehicle production units in Q1, and predicted that the chip shortage would stretch until Q3.
Foundry giant TSMC (TSM
+1.9%) and semiconductor equipment makers Lam Research (LRCX
+3.6%), Applied Materials (AMAT
+4.4%), and KLA (KLAC
+3.4%) are all trading up.
Auto chip supplier stocks in the green include Texas Instruments (TXN
+1.2%), ON Semi (ON
+2.7%), and STMicroelectronics (STM
+2.2%).
Post updated to remove incorrect Lam Research earnings date.
Yesterday, Renesas said it would likely take up to three months to return to pre-fire production levels at the affected fab.
Samsung's foundry said its operations in Austin, which were paused last month during a weather-related power outage, have returned to nearly normal levels. | 2021-04-01T00:00:00 | 2021-04-01T00:00:00 | 176.509995 | 178.350006 | 173.089996 | 172.850006 | 179.389999 | 170.529999 | 172.270004 | 177.669998 | 174.889999 | 170.589996 | 163.25 | 167.940002 | 162.110001 | 170.360001 | 169.419998 | 174.949997 | 173.570007 | 174.910004 | 177.139999 | 179.350006 | 174.360001 | 175.979996 | 180.100006 | 178.779999 | 178.899994 | 178.490005 | 188.199997 | 186.179993 | 185.940002 | 188.990005 | 192.059998 | 196.929993 | 194.589996 | 193.089996 | 195.199997 | 195.429993 | 192.429993 | 191.240005 | 190.330002 | 193.169998 | 191.929993 | 187.059998 | 185.270004 | 188.899994 | 185.800003 | 188.820007 |
2021-03-30 | TXN | BofA seeks chip-industry winners from massive infrastructure spending | With President Biden set to queue up a massive infrastructure plan (ranging to $2 trillion in cost over eight years), BofA zooms in on the semiconductor segment to highlight companies it says could be important beneficiaries as "key building blocks of the digital economy."
BofA calls out four areas ripe for change in a digital infrastructure push: Semicap equipment; 5G infrastructure/broadband; Smart industrial/automation; and Clean energy/electric vehicles.
Semicap equipment vendors are ideally positioned to benefit from "silicon nationalism," the BofA team writes, referring to the push to enhance domestic remanufacturing to become more self-sufficient in chips.
U.S. semiconductor manufacturing capacity as a percentage of the total world as fallen from 37% to about 12%, it notes, but the fiscal 2021 defense reauthorization features the CHIPS America Act as an incentive for domestic manufacturing, with billions in matches to state and local incentives for foundries, along with money for new R&D streams and equipment purchases.
The recent increase in capital expenditures from Intel
(NASDAQ:INTC) - and its longer-term plans to rejuvenate the foundry model - is also a positive for semicap vendors, BofA says. Its top pick in the sector is Applied Materials (NASDAQ:AMAT), though other beneficiaries include KLA (NASDAQ:KLAC), Lam Research (NASDAQ:LRCX) and Teradyne (NASDAQ:TER).
Turning to 5G, the Biden administration could use funds to incentivize deployment in the U.S. in order to catch up to China, BofA says. The U.S. has been behind but the record C-band spectrum auction combined with government support should offer a shot in the arm.
Key beneficiaries in that area include Marvell Technology Group (MRVL; as the leading supplier to Samsung, Nokia and Ericsson); Analog Devices (ADI; a leader in 5G radio); Qorvo (QRVO; a leader in RF radio); and RF power amp suppliers NXP Semiconductor (NASDAQ:NXPI) and Cree (NASDAQ:CREE). Also likely to benefit from increased broadband rollouts are Broadcom (NASDAQ:AVGO), Skyworks Solutions (NASDAQ:SWKS) and MACOM Technology Solutions Holdings (NASDAQ:MTSI), it says.
In industrial automation, clear beneficiaries from increased investment would include Texas Instruments and Microchip Technology (NASDAQ:MCHP), as well as Analog Devices, NXP and Teradyne's robotics unit - but with Texas Instruments (NASDAQ:TXN) as a key beneficiary due to a large U.S. manufacturing presence.
And in automotive/EVs, chip vendors set to gain from an investment boost are NXP, Analog Devices, ON Semiconductor (NASDAQ:ON) and particularly Cree (CREE), which BofA notes has more than a 60% share of next-gen Silicon Carbide material that could be "critical" to the future of electric vehicles. | 2021-03-31T00:00:00 | 2021-03-31T00:00:00 | 178.529999 | 176.509995 | 178.350006 | 173.089996 | 172.850006 | 179.389999 | 170.529999 | 172.270004 | 177.669998 | 174.889999 | 170.589996 | 163.25 | 167.940002 | 162.110001 | 170.360001 | 169.419998 | 174.949997 | 173.570007 | 174.910004 | 177.139999 | 179.350006 | 174.360001 | 175.979996 | 180.100006 | 178.779999 | 178.899994 | 178.490005 | 188.199997 | 186.179993 | 185.940002 | 188.990005 | 192.059998 | 196.929993 | 194.589996 | 193.089996 | 195.199997 | 195.429993 | 192.429993 | 191.240005 | 190.330002 | 193.169998 | 191.929993 | 187.059998 | 185.270004 | 188.899994 | 185.800003 |
2021-04-03 | TXN | Best stocks for Biden's infrastructure plan from KeyBanc: Alpha Tactics Part 2 | KeyBanc Capital Markets outlines the best potential beneficiaries from the White House's $2T infrastructure spending plan.
Vertical Software. Analyst Jason Celino thinks the plan would "accelerate digitization opportunities across the architecture and construction industry."
Bentley Systems (NASDAQ:BSY) gets 60% of total revenue from infrastructure, so the plan could lead to "meaningful multiyear tailwinds."
Autodesk (NASDAQ:ADSK) exposure to infrastructure of 15-20% of revenue and the "completion of its Innoyze acquisition, providing solutions for water infrastructure assets, gives us incremental confidence."
Trimble (NASDAQ:TRMB) has 25-30% of revenue from infrastructure "geospatial, construction, and civil engineering offerings are well positioned."
Communication Services. Analyst Brandon Nispel says the bill "is positive for infrastructure providers (tower operators) and neutral to negative for network providers (wireless carriers and cable operators)."
American Tower (NYSE:AMT), Crown Castle (NYSE:CCI), SBA Communications (NASDAQ:SBAC) are picks in towers, which will be helped by improving investment in wireless networks.
Altice USA (NYSE:ATUS), Cable One (NYSE:CABO), Charter Communications (NASDAQ:CHTR), Comcast (NASDAQ:CMCSA), WildOpenWest (NYSE:WOW) may see a hit to discretionary cash flow due to a higher corporate tax rate.
AT&T (NYSE:T), T-Mobile U.S. (NASDAQ:TMUS) and Verizon (NYSE:VZ) are the most at risk of a corporate tax rate hike, with T and VZ seeing incremental taxes of $1.5B to $2B.
Entertainment and Video Games. Analyst Tyler Parker says the plan for bringing high-speed broadband to every American will help domestic online vide games
Activision (NASDAQ:ATVI), Electronic Arts (NASDAQ:EA), Take-Two Interactive (NASDAQ:TTWO) and Ubisoft (UBISFY) could see tailwinds.
Semiconductors. Analysts John Vinh and Wes Twigg say "expansion incentives would likely be a tailwind for semiconductor equipment demand while easing the capex burden on manufacturers."
Applied Materials (NASDAQ:AMAT), ASML (NASDAQ:ASML), Advanced Energy Industries (NASDAQ:AEIS), KLA (NASDAQ:KLAC), Lam Research (NASDAQ:LRCX) and Teradyne (NASDAQ:TER) would benefit in equipment names.
Analog Devices (NASDAQ:ADI), Intel (NASDAQ:INTC), Micron (NASDAQ:MU), ON Semiconductor (NASDAQ:ON) and Texas Instruments (NASDAQ:TXN) are picks among those with domestic manufacturing footprints.
Utilities. Analyst Sophie Karp notes the majority of the impact on the sector would not come from direct spending, but from fiscal incentives.
American Electric Power (NASDAQ:AEP), Southern (NYSE:SO), Duke Energy (NYSE:DUK), Dominion Energy (NYSE:D), Entergy (NYSE:ETR) and Edison International (NYSE:EIX) can benefit from incremental grid investment initiatives and electrifications trends from an EV tide that will "lift all boats."
Eversource Energy (NYSE:ES), Avangrid (NYSE:AGR), Public Service Enterprise Group (NYSE:PEG), NextEra Energy (NYSE:NEE), Xcel Energy (NASDAQ:XEL), AEP, Sunrun (NASDAQ:RUN), Sunova Energy (NYSE:NOVA) will be helped by the extension of the investment tax credit and the production tax credit further boosting commercial solar and wind.
Public Service Enterprise Group (PEG), Excelon (NASDAQ:EXC) and Energy Harbor (OTCPK:ENGH) would benefit from any concrete federal program to support nuclear energy.
First Solar (NASDAQ:FSLR) may get a boost if solar installers can bypass Chinese tariffs.
Oil and Gas Exploration and Production. Analyst Leo Mariani says the plan "is likely to have a bit of a long-term negative for traditional U.S. oil E&Ps if it accelerates the transition away from fossil fuels for transportation purposes, but we generally think that other variables that normally impact the price of oil over the next few years are much more likely to affect energy stocks as opposed to the impacts of this bill, which will take a healthy part of this decade and into the next to make a material impact."
Life Science Tools. Analyst Paul Knight says "a specific call-out of 'biotechnology' as a key technology investment is positive."
Read Part 1 of KeyBanc's infrastructure picks, with the best industrial and materials beneficiaries. | 2021-04-04T00:00:00 | 2021-04-05T00:00:00 | 178.350006 | 173.089996 | 172.850006 | 179.389999 | 170.529999 | 172.270004 | 177.669998 | 174.889999 | 170.589996 | 163.25 | 167.940002 | 162.110001 | 170.360001 | 169.419998 | 174.949997 | 173.570007 | 174.910004 | 177.139999 | 179.350006 | 174.360001 | 175.979996 | 180.100006 | 178.779999 | 178.899994 | 178.490005 | 188.199997 | 186.179993 | 185.940002 | 188.990005 | 192.059998 | 196.929993 | 194.589996 | 193.089996 | 195.199997 | 195.429993 | 192.429993 | 191.240005 | 190.330002 | 193.169998 | 191.929993 | 187.059998 | 185.270004 | 188.899994 | 185.800003 | 188.820007 | 191.360001 |
2021-04-15 | TXN | Auto chip stocks climb after TSMC says constraints could ease next quarter | Automotive chipmaker stocks are up in pre-market trading after foundry giant TSMC warned that the global chip crisis could stretch into 2022, though the automotive industry could see its pressure start easing next quarter. TSMC also added at least $2B to its full-year capex target to about $30B.
Movers include NXP Semiconductors (NASDAQ:NXPI)
+1.7%, ON Semiconductor (NASDAQ:ON)
+1.9%, and Texas Instruments (NASDAQ:TXN)
+1.4%. The majority of the largest auto chip companies outsource at least some production to TSMC.
Background: TSMC's comments came as the foundry giant reported upside Q4 results. | 2021-04-16T00:00:00 | 2021-04-16T00:00:00 | 163.25 | 167.940002 | 162.110001 | 170.360001 | 169.419998 | 174.949997 | 173.570007 | 174.910004 | 177.139999 | 179.350006 | 174.360001 | 175.979996 | 180.100006 | 178.779999 | 178.899994 | 178.490005 | 188.199997 | 186.179993 | 185.940002 | 188.990005 | 192.059998 | 196.929993 | 194.589996 | 193.089996 | 195.199997 | 195.429993 | 192.429993 | 191.240005 | 190.330002 | 193.169998 | 191.929993 | 187.059998 | 185.270004 | 188.899994 | 185.800003 | 188.820007 | 191.360001 | 190.210007 | 181.820007 | 185.820007 | 180.509995 | 178.800003 | 179.029999 | 181.649994 | 184.270004 | 187.759995 |
2021-04-22 | TXN | Despite pre-earnings choppiness, BofA still favoring U.S. semis | A look at Q1 earnings for U.S. semiconductor manufacturers from BofA is aiming at the bright side, saying that choppy stock performance actually creates an enhanced opportunity - when the backdrop is solid fundamentals.
Pre-earnings jitters are typical in chips, Vivek Arya and team write. The SOX index has pulled back over the last couple of weeks - just as it had before Q3 and Q4 results, they say.
This time around, there's concern over uncertainty in reopening business; ongoing chip-supply constraints hitting not only cars but also smartphones, PCs and networking equipment; and "overstated" concerns about double ordering.
And BofA notes that while the SOX's forward price/earnings multiple is at 22x - above a five-year median of 16x - it's currently in line with the broader market.
"Overwhelming beats/overshipment concerns during Q4 results have given way to expectations of underwhelming beats into Q1 earnings largely due to supply constraints," it says, looking to the new crop of results and suggesting a tightrope will need to be walked: "not too-hot so as to attract concerns of overshipment, and not too-cold which could invite concerns of cycle peaking or share loss or operational/supply misexecution."
It warned on Intel (NASDAQ:INTC), saying the foundry could become an expensive distraction in a year that already was seeing high capital expenditures. BofA is happy the company is taking on a "venture of great national importance," but is skeptical on execution.
It believes sales growth is too light, near flat vs. an industry growing at 15% and a rival -AMD - growing 20% ex-consoles. Meanwhile, depreciation expense is proving a "persistent, underappreciated headwind" to gross margins.
(Indeed, Intel today raised its full-year guidance on revenues, but just to $72.5B from $72B.)
Meanwhile, BofA is focusing on a few themes (and related stocks) for this season. No. 1 is AMD - and whether it can get enough incremental supply from Taiwan Semi to beat an already-strong 37% sales growth outlook for 2021. That's followed by questions around Texas Instruments (NASDAQ:TXN) and NXP Semiconductor (NASDAQ:NXPI), and whether ongoing auto production shutdowns and fab disruptions will end up causing a reduction in 2021 estimates.
And with Qorvo (NASDAQ:QRVO), BofA notes it lagged its main peer Skyworks Solutions (NASDAQ:SWKS) in Q1 (which benefited from an Apple surge) but wonders whether it can gain in Q2 as 5G phone demand broadens (and Qorvo pursues stronger margins by leveraging its position in 5G infrastructure).
Overall, it's staying "structurally bullish" on chips and is raising its industry sales forecast for 2021 to $508.8B - marking 15.5% year-over-year growth, up from 13.9% - and it's boosting its expected compound annual growth form 2020-2023 to 11.4%, from a previous 10.7%.
As for picks, its favorite sector is semiconductor equipment, where Applied Materials (NASDAQ:AMAT) is its top pick. A price target of $170 there implies 29% upside. That's followed by compute, where it likes AMD as mentioned ($100 price target implies 26.5% upside), along with Nvidia (NVDA; $700 target implies 18% upside).
In autos, its favorite pick is NXP Semiconductor; in 5g infrastructure, it likes Marvell (MRVL; its $58 price target implies 29% upside); and in smartphones, its picks are Broadcom (NASDAQ:AVGO) and Qorvo (QRVO). | 2021-04-23T00:00:00 | 2021-04-23T00:00:00 | 174.949997 | 173.570007 | 174.910004 | 177.139999 | 179.350006 | 174.360001 | 175.979996 | 180.100006 | 178.779999 | 178.899994 | 178.490005 | 188.199997 | 186.179993 | 185.940002 | 188.990005 | 192.059998 | 196.929993 | 194.589996 | 193.089996 | 195.199997 | 195.429993 | 192.429993 | 191.240005 | 190.330002 | 193.169998 | 191.929993 | 187.059998 | 185.270004 | 188.899994 | 185.800003 | 188.820007 | 191.360001 | 190.210007 | 181.820007 | 185.820007 | 180.509995 | 178.800003 | 179.029999 | 181.649994 | 184.270004 | 187.759995 | 182.050003 | 183.199997 | 176.600006 | 178.990005 | 183.270004 |
2021-04-22 | TXN | Texas Instruments declares $1.02 dividend | Texas Instruments (NASDAQ:TXN) declares $1.02/share quarterly dividend, in line with previous.
Forward yield 2.2%
Payable May 17; for shareholders of record May 3; ex-div April 30.
See TXN Dividend Scorecard, Yield Chart, & Dividend Growth. | 2021-04-23T00:00:00 | 2021-04-23T00:00:00 | 174.949997 | 173.570007 | 174.910004 | 177.139999 | 179.350006 | 174.360001 | 175.979996 | 180.100006 | 178.779999 | 178.899994 | 178.490005 | 188.199997 | 186.179993 | 185.940002 | 188.990005 | 192.059998 | 196.929993 | 194.589996 | 193.089996 | 195.199997 | 195.429993 | 192.429993 | 191.240005 | 190.330002 | 193.169998 | 191.929993 | 187.059998 | 185.270004 | 188.899994 | 185.800003 | 188.820007 | 191.360001 | 190.210007 | 181.820007 | 185.820007 | 180.509995 | 178.800003 | 179.029999 | 181.649994 | 184.270004 | 187.759995 | 182.050003 | 183.199997 | 176.600006 | 178.990005 | 183.270004 |
2021-04-24 | TXN | Global auto chip shortage sends major automakers scrambling | Internal warnings at Volkswagen (OTCPK:VWAGY) suggest the automaker faces a bigger production hit in the second quarter than the first from the global chip shortage.
"We are being told from the suppliers and within the Volkswagen Group that we need to face considerable challenges," VW exec Wayne Griffiths tells the Financial Times.
Volkswagen has halted production at several locations across Europe.
The recent power outage at a TSMC (NYSE:TSM) facility and damaging winter storm in Texas added additional strain to global auto chip production.
The ongoing chip shortage has seen Ford (NYSE:F) close a dozen more facilities in North America and Europe, while Jaguar Land Rover (NYSE:TTM) is shutting two of its U.K. factories. Renault (OTC:RNSDF) suspended production guidance due to the issue and Daimler (OTCPK:DDAIF) is reducing employee hours to adjust to the lower rate of production. In early February, General Motors (NYSE:GM) warned the global automotive chip shortage could cut 2021 earnings by up to $2B. Some analysts are wondering if the figure could be adjusted higher alongside the Q1 earnings report.
The chip situation adds pressure on automakers to pick the right models to focus on just as many brands are turning electric.
Notable chip makers for the auto industry include NXP Semiconductors (NASDAQ:NXPI), Texas Instruments (NASDAQ:TXN), ON Semiconductor (NASDAQ:ON), STMicroelectronics (NYSE:STM) and TSMC.
What to watch: Intel in talks to serve as foundry for auto chip companies amid shortage and auto suppliers are being sized up ahead of earnings with the chip shortage in the mix. | 2021-04-25T00:00:00 | 2021-04-26T00:00:00 | 173.570007 | 174.910004 | 177.139999 | 179.350006 | 174.360001 | 175.979996 | 180.100006 | 178.779999 | 178.899994 | 178.490005 | 188.199997 | 186.179993 | 185.940002 | 188.990005 | 192.059998 | 196.929993 | 194.589996 | 193.089996 | 195.199997 | 195.429993 | 192.429993 | 191.240005 | 190.330002 | 193.169998 | 191.929993 | 187.059998 | 185.270004 | 188.899994 | 185.800003 | 188.820007 | 191.360001 | 190.210007 | 181.820007 | 185.820007 | 180.509995 | 178.800003 | 179.029999 | 181.649994 | 184.270004 | 187.759995 | 182.050003 | 183.199997 | 176.600006 | 178.990005 | 183.270004 | 180.830002 |
2021-04-26 | TXN | Texas Instruments Q1 2021 Earnings Preview | Texas Instruments (NASDAQ:TXN) is scheduled to announce Q1 earnings results on Tuesday, April 27th, after market close.
The consensus EPS Estimate is $1.60 (+40.4% Y/Y) and the consensus Revenue Estimate is $3.98B (+19.5% Y/Y).
Analyst expects gross margin of 64.6% and Operating margin of 42.8%.
Over the last 2 years, TXN has beaten EPS estimates 88% of the time and has beaten revenue estimates 63% of the time.
Over the last 3 months, EPS estimates have seen 12 upward revisions and 0 downward. Revenue estimates have seen 23 upward revisions and 0 downward. | 2021-04-27T00:00:00 | 2021-04-27T00:00:00 | 174.910004 | 177.139999 | 179.350006 | 174.360001 | 175.979996 | 180.100006 | 178.779999 | 178.899994 | 178.490005 | 188.199997 | 186.179993 | 185.940002 | 188.990005 | 192.059998 | 196.929993 | 194.589996 | 193.089996 | 195.199997 | 195.429993 | 192.429993 | 191.240005 | 190.330002 | 193.169998 | 191.929993 | 187.059998 | 185.270004 | 188.899994 | 185.800003 | 188.820007 | 191.360001 | 190.210007 | 181.820007 | 185.820007 | 180.509995 | 178.800003 | 179.029999 | 181.649994 | 184.270004 | 187.759995 | 182.050003 | 183.199997 | 176.600006 | 178.990005 | 183.270004 | 180.830002 | 178.869995 |
2021-04-27 | TXN | Texas Instruments shares slide despite Q1 beats, upside outlook | Semiconductor bellwether Texas Instruments (NASDAQ:TXN) trades down 3% after hours despite topping Q1 estimates and providing upside guidance. Investors could be expressing nervousness about the broader global semiconductor shortage and inventories.
First quarter revenue was up 29% to $4.29B, $310M above consensus estimates. EPS was $1.85, beating estimates by $0.25.
Analog revenue was up 5% sequentially and 33% on the year to $3.2B, ahead of the $3.07B consensus. mbedded processing sales were up 7% Q/Q and 17% Y/Y to $767M vs. the $730M estimate.
Gross margin was 65.2%, above the 64.6% consensus.
Cash flow from operations for the trailing 12 months totaled $7.1B with FCF of $6.3B.
For Q2, TI forecasts $4.13-4.47B in revenue vs. the $4.15B consensus and EPS of $1.68-1.92 vs. $1.72.
Press release. | 2021-04-28T00:00:00 | 2021-04-28T00:00:00 | 177.139999 | 179.350006 | 174.360001 | 175.979996 | 180.100006 | 178.779999 | 178.899994 | 178.490005 | 188.199997 | 186.179993 | 185.940002 | 188.990005 | 192.059998 | 196.929993 | 194.589996 | 193.089996 | 195.199997 | 195.429993 | 192.429993 | 191.240005 | 190.330002 | 193.169998 | 191.929993 | 187.059998 | 185.270004 | 188.899994 | 185.800003 | 188.820007 | 191.360001 | 190.210007 | 181.820007 | 185.820007 | 180.509995 | 178.800003 | 179.029999 | 181.649994 | 184.270004 | 187.759995 | 182.050003 | 183.199997 | 176.600006 | 178.990005 | 183.270004 | 180.830002 | 178.869995 | 181.720001 |
2021-04-27 | TXN | Texas Instruments EPS beats by $0.25, beats on revenue | Texas Instruments (NASDAQ:TXN): Q1 Non-GAAP EPS of $1.85 beats by $0.25; GAAP EPS of $1.87 beats by $0.30.
Revenue of $4.29B (+28.8% Y/Y) beats by $310M.
Gross margin of 64.6% vs. consensus of 65.2%; and Operating margin of 45.2% vs. consensus of 42.8%.
2Q21 Guidance: Revenue of $4.13B-$4.47B vs. $4.15B consensus, EPS of $1.68-$1.92 vs. $1.72.
Press Release | 2021-04-28T00:00:00 | 2021-04-28T00:00:00 | 177.139999 | 179.350006 | 174.360001 | 175.979996 | 180.100006 | 178.779999 | 178.899994 | 178.490005 | 188.199997 | 186.179993 | 185.940002 | 188.990005 | 192.059998 | 196.929993 | 194.589996 | 193.089996 | 195.199997 | 195.429993 | 192.429993 | 191.240005 | 190.330002 | 193.169998 | 191.929993 | 187.059998 | 185.270004 | 188.899994 | 185.800003 | 188.820007 | 191.360001 | 190.210007 | 181.820007 | 185.820007 | 180.509995 | 178.800003 | 179.029999 | 181.649994 | 184.270004 | 187.759995 | 182.050003 | 183.199997 | 176.600006 | 178.990005 | 183.270004 | 180.830002 | 178.869995 | 181.720001 |
2021-05-04 | TXN | Semiconductor stocks still have 'more upside before the crash,' says Citi | Three semiconductors have now warned that a correction is coming, but Citi thinks "it's too early" and expects "more upside before the crash."
Analyst Christopher Danely notes that Texas Instruments (TXN
-0.6%), ON Semiconductor (ON
-0.6%), and Power Integrations (POWI
-0.8%) provided guidance for a "below-seasonal quarter due to double ordering."
Danely: "We believe itâs too early to downgrade as all three companies are not experiencing a decline in bookings or lead times, they are just concerned that business is 'too strong'."
Citi thinks the correction will happen at "some point" but only after the shortages are fixed and lead times narrow, which could happen in Q4 or the first half of next year. The firm expects upside to Q2 and Q3 as lead times remain extended.
Citi maintains Buy ratings on Texas instruments and ON Semi and doesn't have a rating on POWI.
The Philadelphia Semiconductor Index is currently down 1.6%, slightly ahead of the 1.3% decline from the broader tech sector (NYSEARCA:XLK).
Related: Yesterday, Needham raised its ON Semi price target after the strong earnings report. | 2021-05-05T00:00:00 | 2021-05-05T00:00:00 | 178.779999 | 178.899994 | 178.490005 | 188.199997 | 186.179993 | 185.940002 | 188.990005 | 192.059998 | 196.929993 | 194.589996 | 193.089996 | 195.199997 | 195.429993 | 192.429993 | 191.240005 | 190.330002 | 193.169998 | 191.929993 | 187.059998 | 185.270004 | 188.899994 | 185.800003 | 188.820007 | 191.360001 | 190.210007 | 181.820007 | 185.820007 | 180.509995 | 178.800003 | 179.029999 | 181.649994 | 184.270004 | 187.759995 | 182.050003 | 183.199997 | 176.600006 | 178.990005 | 183.270004 | 180.830002 | 178.869995 | 181.720001 | 185.300003 | 185.009995 | 188.690002 | 188.699997 | 188.360001 |
2021-05-06 | TXN | Global semiconductor sales will grow 13% in 2021 despite global chip shortage - IDC | Worldwide semiconductor revenue grew 10.8% in the year to $464B in 2020, according to new IDC data.
Computing systems (PCs and servers) outpaced the broader industry growth with a 17.3% increase to $160B. The segment should grow 8% this year to $173B.
Automotive chips recovered toward the end of last year, but IDC says the supply constraints will likely last through 2021. The firm forecasts a 14% revenue growth for auto chips this year.
IDC forecasts the total global semi market to increase by 12.5% this year to $522B, driven by robust demand across the consumer, computing, 5G, and automotive sectors.
"Overall, the semiconductor industry remains on track to deliver another strong year of growth as the super cycle that began at the end of 2019 strengthens this year," says Mario Morales, program vice president, Semiconductors at IDC. "The markets remain narrowly focused on shortages across specific sectors of the supply chain, but what is more important to emphasize is how critical semiconductors are to every major system category and content growth that remains unabated."
Top semiconductor stocks on the move today include global foundry giant TSMC (TSM
+1.1%), memory giant Micron (MU
-1.2%), and auto chip player Texas Instruments (TXN
+1.0%).
Related: The U.S. is currently pushing TSMC to prioritize auto chips when it adds capacity. | 2021-05-07T00:00:00 | 2021-05-07T00:00:00 | 178.490005 | 188.199997 | 186.179993 | 185.940002 | 188.990005 | 192.059998 | 196.929993 | 194.589996 | 193.089996 | 195.199997 | 195.429993 | 192.429993 | 191.240005 | 190.330002 | 193.169998 | 191.929993 | 187.059998 | 185.270004 | 188.899994 | 185.800003 | 188.820007 | 191.360001 | 190.210007 | 181.820007 | 185.820007 | 180.509995 | 178.800003 | 179.029999 | 181.649994 | 184.270004 | 187.759995 | 182.050003 | 183.199997 | 176.600006 | 178.990005 | 183.270004 | 180.830002 | 178.869995 | 181.720001 | 185.300003 | 185.009995 | 188.690002 | 188.699997 | 188.360001 | 189.130005 | 189.820007 |
2021-05-17 | TXN | H2 semiconductor playbook: Citi, BofA weigh in on recovery catalysts | The first negative PC data point since the pandemic started, apparent smartphone sales softness, and weak guidance from semiconductor companies have combined to drive a semi sell-off, says Citi analyst Christopher Danely.
But the analyst thinks the smartphone issue is confined to China, and PC demand will pick up in the second half of the year with increasing enterprise demand.
Citi advises investors to "use the weakness" to pick up the firm's top semi picks: Micron (NASDAQ:MU), NXP Semiconductor (NASDAQ:NXPI), ON Semi (NASDAQ:ON), and Texas Instruments (NASDAQ:TXN).
Separately, BofA is out with a note discussing the top five semi investor debates.
Regarding what can improve the sector's sentiment and performance, the firm's investor survey came up with the three most important catalysts for a turnaround: stabilization in well-owned, high-momentum stocks like Nvidia (NASDAQ:NVDA) and AMD (NASDAQ:AMD), the return of the SOX to its historical valuation levels, and interest rate stabilization.
Looking at the playbook for the second half of 2021 into 2022, BofA analyst Vivek Arya thinks the focus will be on "companies with the best growth visibility" among semi equipment names with Applied Materials (NASDAQ:AMAT) a top pick, computing stocks with Nvidia a top pick, auto-exposed stocks like NXP Semi, 5G infrastructure like Marvell (NASDAQ:MRVL), and 5G smartphone names like Qorvo (NASDAQ:QRVO).
Related: Foundry giant TSMC moved lower pre-market amid spiking COVID-19 cases in Taiwan. | 2021-05-18T00:00:00 | 2021-05-18T00:00:00 | 194.589996 | 193.089996 | 195.199997 | 195.429993 | 192.429993 | 191.240005 | 190.330002 | 193.169998 | 191.929993 | 187.059998 | 185.270004 | 188.899994 | 185.800003 | 188.820007 | 191.360001 | 190.210007 | 181.820007 | 185.820007 | 180.509995 | 178.800003 | 179.029999 | 181.649994 | 184.270004 | 187.759995 | 182.050003 | 183.199997 | 176.600006 | 178.990005 | 183.270004 | 180.830002 | 178.869995 | 181.720001 | 185.300003 | 185.009995 | 188.690002 | 188.699997 | 188.360001 | 189.130005 | 189.820007 | 189 | 190.75 | 186 | 190.070007 | 188.550003 | 186.929993 | 186.449997 |
2021-05-19 | TXN | Chips, semicap stocks mark tech gainers in market of weakness | Amid some broad overall market weakness today, the standout gainers (some of the few) in technology are in the semiconductor and semiconductor equipment sectors.
AMD is up 2.5% after announcing a $4B stock repurchase program, which may be adding some wind under chips' wings - as could this morning's strong results from Analog Devices (ADI
+3.8%).
Analog Devices peers are higher on the day, particularly Maxim Integrated Products (MXIM
+3.9%), but also including Monolithic Power Systems (MPWR
+2.9%), Microchip (MCHP
+2.6%), NXP Semiconductors (NXPI
+1.3%) and Texas Instruments (TXN
+1.1%).
Also significant gainers in the space: Micron (MU
+1.3%), Xilinx (XLNX
+2.7%), and Broadcom (AVGO
+1.2%).
Semiconductor equipment makers are also having an outlier day in a sea of red: Applied Materials (NASDAQ:AMAT)
+2.1%; Lam Research (NASDAQ:LRCX)
+2.5%; KLA (NASDAQ:KLAC)
+2.4%; Teradyne (NASDAQ:TER)
+2.6%. | 2021-05-20T00:00:00 | 2021-05-20T00:00:00 | 195.199997 | 195.429993 | 192.429993 | 191.240005 | 190.330002 | 193.169998 | 191.929993 | 187.059998 | 185.270004 | 188.899994 | 185.800003 | 188.820007 | 191.360001 | 190.210007 | 181.820007 | 185.820007 | 180.509995 | 178.800003 | 179.029999 | 181.649994 | 184.270004 | 187.759995 | 182.050003 | 183.199997 | 176.600006 | 178.990005 | 183.270004 | 180.830002 | 178.869995 | 181.720001 | 185.300003 | 185.009995 | 188.690002 | 188.699997 | 188.360001 | 189.130005 | 189.820007 | 189 | 190.75 | 186 | 190.070007 | 188.550003 | 186.929993 | 186.449997 | 188 | 188.669998 |
2021-05-27 | TXN | Is the 20-year deflationary cycle for semiconductors ending? | General Motors is up nearly 4% in morning trading after announcing that some of its plants will be back up and running next week following the chip shortage.
The lack of supply and increased demand in the global economic recovery is pushing prices higher. This bout of inflation is likely transitory, but looking further ahead a 20-year cycle of semiconductor prices falling could be ending, TS Lombard says.
"We are at the beginning of a secular demand shift for chips, as the world becomes more interconnected, more automated and greener, each unit of GDP growth will contain a higher content of semiconductors," TS Lombard Asian Economist Rory Green writes. "The change in demand will serve to limit the scope for a major cyclical decline in prices, particularly for leading-edge semiconductors."
"Mooreâs Law, the observation that the number of transistors in an integrated circuit doubles about every two years, drove most of the quality-adjusted price decrease," Green adds. "Performance doubled every two years, with marginal increases or even falling manufacturing costs owing to offshoring of production."
"Mooreâs Law is coming to an end; as semiconductors get smaller and denser, the technical and capital intensity needed to improve performance has increased dramatically. Technical advances are possible but the 50% decline in quality-adjusted prices from the late 1990s to the present day will not be repeated."
"Taken together, political and technology changes may end a secular deflation force, just as semiconductors become a much more important input to economic activity," he says. "Before this happens a chip price cycle, one mirrored in the economic fortunes of Taiwan and Korea, will play out over the next 3â5 years."
The VanEck Vectors Semiconductor ETF (NASDAQ:SMH) is up 12% year to date and 10% from the recent low at the middle of the month.
Chipmakers are mostly higher today, with Taiwan Semiconductor (NYSE:TSM)
+0.2%, Intel (NASDAQ:INTC)
+0.9%, Qualcomm (NASDAQ:QCOM)
+0.7%, AMD (NASDAQ:AMD)
+0.5% and Texas Instruments (NASDAQ:TXN)
+0.5% all up.
But Nvidia (NASDAQ:NVDA)
-0.5% is down despite strong quarterly results.
Meanwhile, chip giant GlobalFoundries has reportedly hired Morgan Stanley for a $30B IPO. | 2021-05-28T00:00:00 | 2021-05-28T00:00:00 | 191.929993 | 187.059998 | 185.270004 | 188.899994 | 185.800003 | 188.820007 | 191.360001 | 190.210007 | 181.820007 | 185.820007 | 180.509995 | 178.800003 | 179.029999 | 181.649994 | 184.270004 | 187.759995 | 182.050003 | 183.199997 | 176.600006 | 178.990005 | 183.270004 | 180.830002 | 178.869995 | 181.720001 | 185.300003 | 185.009995 | 188.690002 | 188.699997 | 188.360001 | 189.130005 | 189.820007 | 189 | 190.75 | 186 | 190.070007 | 188.550003 | 186.929993 | 186.449997 | 188 | 188.669998 | 190.259995 | 188.610001 | 187.729996 | 187.649994 | 183.070007 | 186.110001 |
2021-05-28 | TXN | Tech bill challenging China's rise advances in U.S. Senate | Boosting U.S. economic competitiveness and confronting China's rise is going hand-in-hand again as the U.S. Senate moves toward passing the U.S. Innovation and Competition Act of 2021 (USICA). The bill would sink more than $100B into U.S. research and development and provide $52B to advance domestic semiconductor manufacturing. It also includes a wide range of measures directly targeting China, such as its human rights record, a day after a Beijing-drafted resolution effectively ended open elections in Hong Kong.
The latest? Taking on China is a rare area of bipartisan support, but some hurdles to the bill's passage remain in the House, as well as a series of amendments under consideration. The Senate has already voted on 18 revisions, 14 of them from GOP senators, but Majority Leader Chuck Schumer still hopes to pass USICA before senators leave Washington for the holiday weekend. President Biden is also ready to sign the bill as the administration wraps up an initial supply-chain review on computer chips, EVs batteries, pharmaceuticals and minerals used in electronics.
Earlier this week, the U.S took a significant policy shift in its approach toward China. "The period that was broadly described as engagement has come to an end," said Kurt Campbell, the U.S. coordinator for Indo-Pacific affairs on the National Security Council, adding that the new "dominant paradigm is going to be competition." Remarks by President Biden over the origins of COVID-19 (jump from animals to humans or lab accident) also angered officials in Beijing.
Excerpt from the bill: "While the U.S. represented 37% of global semiconductor manufacturing capacity in 1990, today just 12% of semiconductors are manufactured in the U.S... The Chinese Communist Party is aggressively investing over $150B in semiconductor manufacturing so they can control this key technology... At the same time, halted domestic production lines for consumer technology, auto manufacturers, truckers, and other critical industries underscores the vulnerability the U.S. faces."
Reports on Tuesday suggested Qualcomm signed a foundry capacity deal with UMC amid the global chip shortage.
Related: MU, QCOM, INTC, XLNX, AMD, TXN, TSM, STM, AMT, AVGO, CCI, CSCO | 2021-05-29T00:00:00 | 2021-06-01T00:00:00 | 187.059998 | 185.270004 | 188.899994 | 185.800003 | 188.820007 | 191.360001 | 190.210007 | 181.820007 | 185.820007 | 180.509995 | 178.800003 | 179.029999 | 181.649994 | 184.270004 | 187.759995 | 182.050003 | 183.199997 | 176.600006 | 178.990005 | 183.270004 | 180.830002 | 178.869995 | 181.720001 | 185.300003 | 185.009995 | 188.690002 | 188.699997 | 188.360001 | 189.130005 | 189.820007 | 189 | 190.75 | 186 | 190.070007 | 188.550003 | 186.929993 | 186.449997 | 188 | 188.669998 | 190.259995 | 188.610001 | 187.729996 | 187.649994 | 183.070007 | 186.110001 | 187.039993 |
2021-05-31 | TXN | Intel repeats forecast that chip shortage could last several years | Intel (NASDAQ:INTC) CEO Pat Gelsinger told the WaPo back in April that the global semiconductor shortage would take "a couple of years" to subside, and he reiterated that forecast on Monday at the Computex trade show in Taipei.
A "cycle of explosive growth in semiconductors" has placed huge strain on supply chains ranging from auto production to consumer electronics. "But while the industry has taken steps to address near term constraints, it could still take a couple of years for the ecosystem to address shortages of foundry capacity, substrates and components."
"We plan to expand to other locations in the U.S. and Europe, ensuring a sustainable and secure semiconductor supply chain for the world," added Gelsinger, without providing details. The company also hopes to start producing chips - within six to nine months - to address shortages at American car plants.
Back in March, Intel announced plans to invest $20B in U.S. chip facilities and its push to become a global foundry player.
Related: Nvidia (NASDAQ:NVDA), Analog Devices (NASDAQ:ADI), Ambarella (NASDAQ:AMBA), United Microelectronics (NYSE:UMC), Taiwan Semiconductor (NYSE:TSM), STMicroelectronics (NYSE:STM), NXP Semiconductors (NASDAQ:NXPI), Samsung (OTC:SSNLF), Texas Instruments (NASDAQ:TXN), Infineon (OTCQX:IFNNY), Xilinx (NASDAQ:XLNX) and ON Semiconductor (NASDAQ:ON).
ETFs:
SMH, SOXL, SOXX, XSD, USD, SOXS, PSI, FTXL, SSG | 2021-06-01T00:00:00 | 2021-06-01T00:00:00 | 187.059998 | 185.270004 | 188.899994 | 185.800003 | 188.820007 | 191.360001 | 190.210007 | 181.820007 | 185.820007 | 180.509995 | 178.800003 | 179.029999 | 181.649994 | 184.270004 | 187.759995 | 182.050003 | 183.199997 | 176.600006 | 178.990005 | 183.270004 | 180.830002 | 178.869995 | 181.720001 | 185.300003 | 185.009995 | 188.690002 | 188.699997 | 188.360001 | 189.130005 | 189.820007 | 189 | 190.75 | 186 | 190.070007 | 188.550003 | 186.929993 | 186.449997 | 188 | 188.669998 | 190.259995 | 188.610001 | 187.729996 | 187.649994 | 183.070007 | 186.110001 | 187.039993 |
2021-06-09 | TXN | Senate bands together for $250B bill to counter China's rise | sefa ozel/E+ via Getty Images
It could be one of the last major bipartisan bills of 2021, but the Senate got it over the line. Late Tuesday, the chamber approved the U.S. Innovation and Competition Act, a $250B package aimed at countering China's technological ambitions. While the bill passed 68-32 in the Senate, it still needs approval in the House, which has been weighing some different approaches but is likely to see wide support. The measure is one of the biggest government interventions in industrial policy in decades, which trounced traditional party differences over economic policy.
What's in the bill? About $190B would be directed at U.S. technology and research to better compete globally, including money for cutting-edge science and artificial intelligence via the National Science Foundation. Another $54B would increase U.S. production and research into semiconductors and telecom equipment, as well as design and manufacturing initiatives. The Commerce Department will also get $10B in funding to designate regional technology hubs for R&D and will be able to match financial incentives offered by states and local governments to chipmakers who expand or construct new factories.
According to some estimates, federal R&D spending in recent years has totaled less than 1% of U.S. GDP, as well as less than 3% of total government spending, the lowest level since the space race in the 1960s. With regards to semiconductor manufacturing, it's been even worse. The Semiconductor Industry Association says the U.S. share of global chip making capacity has tumbled from 37% in 1990 to 12% at the present. "We are in a competition to win the 21st century and the starting gun has gone off, President Biden declared. "We cannot risk falling behind." Commerce Secretary Gina Raimondo added that the funding could result in seven to 10 new semiconductor plants in the U.S.
Response from China: While Beijing has long-embraced a top-down approach to investing in favored sectors, it expressed "strong indignation and resolute opposition" to the U.S. bill, which showed "paranoid delusion of wanting to be the only winner." The measure also banned downloads of Chinese-owned TikTok (BDNCE) on all government devices (not only military and Homeland Security phones) and will block purchases of drones manufactured and sold by companies backed by the Chinese government. It further expanded mandatory sanctions on Chinese entities engaged in American cyberattacks or the theft of intellectual property, while reviewing export controls on items that could be used to support human rights abuses.
Just in time... The Biden administration's newly released supply chain review recommended $50B in semiconductor production investment.
Related:
MU, QCOM, INTC, XLNX, AMD, NXPI, ON, IBM, TXN, TSM, STM, AMT, AVGO, CCI, CSCO
ETFs:
KWEB, CQQQ, YINN, TDF, GXC, YANG, CXSE, CWEB, PGJ, KGRN, FXP, CHN, CN, CHIK, XPP, FLCH, YXI, FCA, KESG, RAYC | 2021-06-10T00:00:00 | 2021-06-10T00:00:00 | 181.820007 | 185.820007 | 180.509995 | 178.800003 | 179.029999 | 181.649994 | 184.270004 | 187.759995 | 182.050003 | 183.199997 | 176.600006 | 178.990005 | 183.270004 | 180.830002 | 178.869995 | 181.720001 | 185.300003 | 185.009995 | 188.690002 | 188.699997 | 188.360001 | 189.130005 | 189.820007 | 189 | 190.75 | 186 | 190.070007 | 188.550003 | 186.929993 | 186.449997 | 188 | 188.669998 | 190.259995 | 188.610001 | 187.729996 | 187.649994 | 183.070007 | 186.110001 | 187.039993 | 186.100006 | 188.610001 | 188.169998 | 191.529999 | 192.880005 | 192.300003 | 190.839996 |
2021-06-17 | TXN | U.S. Senators propose 25% tax credit for U.S. semiconductor investments | sefa ozel/E+ via Getty Images
A bipartisan group of U.S. Senators proposed a 25% tax credit for "reasonable, targeted incentives for domestic semiconductor manufacturing."
Last week, the Senate voted to approve spending $52B on increasing domestic research and production for semiconductors and telecommunications, including $2B in chip investments for the hard-hit auto industry.
The Philadelphia Semiconductor is slightly trailing the broader tech sector (NYSEARCA:XLK) today, up 1% vs. 1.3%.
Related auto chip stocks: NXP Semiconductor (NXPI
-1.0%), ON Semi (ON
-0.9%), Texas Instruments (TXN
+0.2%), STMicroelectronics (STM
+0.1%).
Recent news: Senate bands together for $250B bill to counter China's rise | 2021-06-18T00:00:00 | 2021-06-18T00:00:00 | 184.270004 | 187.759995 | 182.050003 | 183.199997 | 176.600006 | 178.990005 | 183.270004 | 180.830002 | 178.869995 | 181.720001 | 185.300003 | 185.009995 | 188.690002 | 188.699997 | 188.360001 | 189.130005 | 189.820007 | 189 | 190.75 | 186 | 190.070007 | 188.550003 | 186.929993 | 186.449997 | 188 | 188.669998 | 190.259995 | 188.610001 | 187.729996 | 187.649994 | 183.070007 | 186.110001 | 187.039993 | 186.100006 | 188.610001 | 188.169998 | 191.529999 | 192.880005 | 192.300003 | 190.839996 | 192.210007 | 191.199997 | 189.779999 | 188.240005 | 190.270004 | 191.919998 |
2021-06-19 | TXN | Nvidia, Texas Instruments are top semiconductor stocks among fund managers | sefa ozel/E+ via Getty Images
The most owned semiconductor stocks by U.S. long-only and hedge-fund active fund managers in May were Nvidia (NASDAQ:NVDA) and Texas Instruments (NASDAQ:TXN), according to a BofA note out last week.
The firm used its Equity Strategy data to look at the breadth (% of sample set owns) and depth (amount owned in portfolio relative to stock's S&P 500 weight).
Nvidia was owned by 44.2% of fund managers, flat on the quarter with relative weighting down 12% Q/Q and below the 1.5x ownership of its growth peers, "suggesting opportunity for increasing depth."
Texas Instruments was up 214 bps Q/Q to 42.1% ownership, an all-time high and taking second place.
Qualcomm (NASDAQ:QCOM) was down 134 bps to 38.3% with its relative weighting posting the biggest decline among semis, falling 17% to 1.14x.
AMD (NASDAQ:AMD) ownership hit a record 24.7% and now only sits 160 bps behind rival Intel (NASDAQ:INTC) "suggesting increasing LO preference for AMD."
Among semiconductor equipment stocks, Applied Materials (NASDAQ:AMAT) and KLA (NASDAQ:KLAC) hit record ownership of 31.6% and 17.2%, respectively. Lam Research (NASDAQ:LRCX) lagged, down from its October 2020 record of 28.8% to 20%.
For the least owned/overweighted stocks, BofA highlights Microchip (NASDAQ:MCHP), which has a 10% ownership despite a $40B market cap that would normally come with 15-20% ownership.
Skyworks (NASDAQ:SWKS), Qorvo (NASDAQ:QRVO), and Teradyne (NASDAQ:TER) are also flagged for having "extremely low ownership" of only 6-7% and extremely low relative weightage of 0.24x-0.57x. "
"It's possible these stocks are more preferred by SMidcap, rather than large-cap managers," BofA says about the least-owned stocks.
Recent semiconductor news: U.S. Senators propose 25% tax credit for U.S. semiconductor investments | 2021-06-20T00:00:00 | 2021-06-21T00:00:00 | 187.759995 | 182.050003 | 183.199997 | 176.600006 | 178.990005 | 183.270004 | 180.830002 | 178.869995 | 181.720001 | 185.300003 | 185.009995 | 188.690002 | 188.699997 | 188.360001 | 189.130005 | 189.820007 | 189 | 190.75 | 186 | 190.070007 | 188.550003 | 186.929993 | 186.449997 | 188 | 188.669998 | 190.259995 | 188.610001 | 187.729996 | 187.649994 | 183.070007 | 186.110001 | 187.039993 | 186.100006 | 188.610001 | 188.169998 | 191.529999 | 192.880005 | 192.300003 | 190.839996 | 192.210007 | 191.199997 | 189.779999 | 188.240005 | 190.270004 | 191.919998 | 191.199997 |
2021-06-30 | TXN | Micron tops FQ3 estimates, sells chip fab to TI for $900M in cash | vzphotos/iStock Editorial via Getty Images
Micron (NASDAQ:MU) shares have reversed after hour losses following a busy fiscal Q3 earnings report that topped estimates with $7.42B in sales (+36% Y/Y) and $1.88 EPS.
Cash flow from operations totaled $3.6B, up 76% on the year.
NAND hit a revenue record driven by mobile MCP, consumer SSD, and client SSD sales.
The embedded business exceeded $1B for the first time backed by auto and industrial strength.
Capex totaled $2.04B, above the $1.8B consensus.
For Q4, Micron guides for revenue of $8-8.4B (consensus: $7.89B) and EPS of $2.20-2.40 (consensus: $2.14).
âMicron set multiple market and product revenue records in our third quarter and achieved the largest sequential earnings improvement in our history,â says CEO Sanjay Mehrotra. âOur industry-leading 1α DRAM and 176-layer NAND now represent a meaningful portion of our production, and Micron is in the best position ever to capitalize on the long-term demand trends across the data center, intelligent edge and user devices.â
The company expects CY21 DRAM bit industry bit demand growth to be somewhat above 20% with supplies coming in below demand. Micron expects its DRAM bit supply growth to be below industry demand.
For the NAND industry, CY21 bit demand growth is expected to be in the mid-30% range with supply higher than demand. Micron expects its bit supply growth to come in below the industry.
Micron expects NAND and DRAM supplies to remain tight into CY22.
Fab sale: Micron has sold its Lehi, Utah, chip facility to Texas Instruments (NASDAQ:TXN). The sale has an economic value of $15B, including $900M in cash from TI and about $600M in value for Micron's tools and assets.
Earnings press release / Earnings presentation | 2021-07-01T00:00:00 | 2021-07-01T00:00:00 | 181.720001 | 185.300003 | 185.009995 | 188.690002 | 188.699997 | 188.360001 | 189.130005 | 189.820007 | 189 | 190.75 | 186 | 190.070007 | 188.550003 | 186.929993 | 186.449997 | 188 | 188.669998 | 190.259995 | 188.610001 | 187.729996 | 187.649994 | 183.070007 | 186.110001 | 187.039993 | 186.100006 | 188.610001 | 188.169998 | 191.529999 | 192.880005 | 192.300003 | 190.839996 | 192.210007 | 191.199997 | 189.779999 | 188.240005 | 190.270004 | 191.919998 | 191.199997 | 191.279999 | 188.259995 | 186.119995 | 186.240005 | 187.770004 | 194.240005 | 183.910004 | 186.850006 |
2021-06-30 | TXN | Texas Instruments to acquire Micron 300-mm semiconductor factory | Texas Instruments (NASDAQ:TXN)
to acquire Micron Technology's 300-mm semiconductor factory in Lehi, Utah, for $900M.
The Lehi fab will be company's fourth 300-mm fab, joining DMOS6, RFAB1 and soon-to-be-completed RFAB2 in its wafer fab manufacturing operations.
The companies plan to complete the sale by the end of 2021.
Related underutilization costs of about $75M per quarter are expected in 2022.
First revenue is expected in early 2023. | 2021-07-01T00:00:00 | 2021-07-01T00:00:00 | 181.720001 | 185.300003 | 185.009995 | 188.690002 | 188.699997 | 188.360001 | 189.130005 | 189.820007 | 189 | 190.75 | 186 | 190.070007 | 188.550003 | 186.929993 | 186.449997 | 188 | 188.669998 | 190.259995 | 188.610001 | 187.729996 | 187.649994 | 183.070007 | 186.110001 | 187.039993 | 186.100006 | 188.610001 | 188.169998 | 191.529999 | 192.880005 | 192.300003 | 190.839996 | 192.210007 | 191.199997 | 189.779999 | 188.240005 | 190.270004 | 191.919998 | 191.199997 | 191.279999 | 188.259995 | 186.119995 | 186.240005 | 187.770004 | 194.240005 | 183.910004 | 186.850006 |
2021-07-06 | TXN | Global semiconductor sales increased 26% in May | sefa ozel/E+ via Getty Images
Global semiconductor sales were up 26% on the year in May to $43.6B, a 4% increase on the prior month, according to new data from the Semiconductor Industry Association.
âGlobal demand for semiconductors remained high in May, as sales increased both year-to-year and month-to-month across all major regional markets,â says John Neuffer, SIA president and CEO. âThe industry shipped more units on a three-month moving basis in May than during any previous month in the marketâs history, indicating semiconductor production has ramped up significantly to address rising demand.â
Month-over-month sales growth by region: Americas, 6%; China, 5%; Japan, 3%; Asia Pacific/All Other, 3%, and Europe, 1%.
Citi says the SIA data was above seasonality due to stronger pricing, which the firm expects to provide a sector tailwind through the rest of 2021. The firm says investors should "remain on offense with more leveraged stocks" like Micron (MU
-0.5%), Texas Instruments (TXN
-1.0%), ON Semiconductor (ON
-1.4%), and NXP Semiconductors (NXPI
-1.0%).
The Philadelphia Semiconductor Index is slightly in the red, led by declines in semiconductor equipment makers Lam Research (LRCX
-2.4%) and Applied Materials (LRCX
-2.4%).
Earlier today: Toyota tops GM for first time in Q2 U.S. sales | 2021-07-07T00:00:00 | 2021-07-07T00:00:00 | 188.690002 | 188.699997 | 188.360001 | 189.130005 | 189.820007 | 189 | 190.75 | 186 | 190.070007 | 188.550003 | 186.929993 | 186.449997 | 188 | 188.669998 | 190.259995 | 188.610001 | 187.729996 | 187.649994 | 183.070007 | 186.110001 | 187.039993 | 186.100006 | 188.610001 | 188.169998 | 191.529999 | 192.880005 | 192.300003 | 190.839996 | 192.210007 | 191.199997 | 189.779999 | 188.240005 | 190.270004 | 191.919998 | 191.199997 | 191.279999 | 188.259995 | 186.119995 | 186.240005 | 187.770004 | 194.240005 | 183.910004 | 186.850006 | 188.259995 | 185.130005 | 186.850006 |
2021-07-15 | TXN | Texas Instruments declares $1.02 dividend | Texas Instruments (NASDAQ:TXN) declares $1.02/share quarterly dividend, in line with previous.
Forward yield 2.17%
Payable Aug. 9; for shareholders of record July 26; ex-div July 23.
See TXN Dividend Scorecard, Yield Chart, & Dividend Growth. | 2021-07-16T00:00:00 | 2021-07-16T00:00:00 | 186 | 190.070007 | 188.550003 | 186.929993 | 186.449997 | 188 | 188.669998 | 190.259995 | 188.610001 | 187.729996 | 187.649994 | 183.070007 | 186.110001 | 187.039993 | 186.100006 | 188.610001 | 188.169998 | 191.529999 | 192.880005 | 192.300003 | 190.839996 | 192.210007 | 191.199997 | 189.779999 | 188.240005 | 190.270004 | 191.919998 | 191.199997 | 191.279999 | 188.259995 | 186.119995 | 186.240005 | 187.770004 | 194.240005 | 183.910004 | 186.850006 | 188.259995 | 185.130005 | 186.850006 | 189.830002 | 190.619995 | 190.720001 | 189.339996 | 192.380005 | 193.160004 | 192.960007 |
2021-07-20 | TXN | Texas Instruments Q2 earning previews | wellesenterprises/iStock Editorial via Getty Images
Texas Instruments (NASDAQ:TXN) is scheduled to announce Q2 earnings results on Wednesday, July 21st, after market close.
The consensus EPS Estimate is $1.85 (+60.9% Y/Y) and the consensus Revenue Estimate is $4.36B (+34.6% Y/Y).
Bifurcating: Analog revenue estimate $3.31B; Embedded processing revenue estimate $775.4M; Other revenue estimate $260.9M.
Over the last 2 years, TXN has beaten EPS estimates 88% of the time and has beaten revenue estimates 75% of the time.
Over the last 3 months, EPS estimates have seen 11 upward revisions and 0 downward. Revenue estimates have seen 21 upward revisions and 0 downward.
The stock dropped 3% during Q1 earnings release despite a beat.
A look at part few quarter performance against consensus.
Company to acquire Micron 300-mm semiconductor factory
SA Contributor analysis on the stock 'Chip Shortage Benefits Texas Instruments'
Industry news: 'Is the 20-year deflationary cycle for semiconductors ending?'
Recently, Micron sold its Lehi, Utah, chip facility to Texas Instruments | 2021-07-21T00:00:00 | 2021-07-21T00:00:00 | 186.929993 | 186.449997 | 188 | 188.669998 | 190.259995 | 188.610001 | 187.729996 | 187.649994 | 183.070007 | 186.110001 | 187.039993 | 186.100006 | 188.610001 | 188.169998 | 191.529999 | 192.880005 | 192.300003 | 190.839996 | 192.210007 | 191.199997 | 189.779999 | 188.240005 | 190.270004 | 191.919998 | 191.199997 | 191.279999 | 188.259995 | 186.119995 | 186.240005 | 187.770004 | 194.240005 | 183.910004 | 186.850006 | 188.259995 | 185.130005 | 186.850006 | 189.830002 | 190.619995 | 190.720001 | 189.339996 | 192.380005 | 193.160004 | 192.960007 | 190.449997 | 189.649994 | 189.5 |
2021-07-22 | TXN | Texas Instruments pulls semiconductor stocks lower after soft guidance | wellesenterprises/iStock Editorial via Getty Images
The Philadelphia Semiconductor Index is down nearly 1% compared to the almost 1% gain for the broader tech sector (NYSEARCA:XLK) after semiconductor bellwether Texas Instruments (TXN
-4.8%) provided weaker than expected third-quarter guidance.
Texas Instruments is pulling its analog and automotive chip supplier peers lower with NXP Semiconductors (NXPI
-2.5%), ON Semiconductor (ON
-2.7%), and Analog Devices (ADI
-2.2%) among the index's top decliners.
Micron (MU
-3.0%) is also in the red after a Lynx Equity note saying the firm's checks show "major smartphone and PC OEMs trying to unload memory inventory onto distributors," suggesting the end of the DRAM memory cycle.
Equipment maker ASML (ASML
+1.3%) is one of the few semi stocks in the green coming off of a strong earnings report earlier this week. | 2021-07-23T00:00:00 | 2021-07-23T00:00:00 | 188 | 188.669998 | 190.259995 | 188.610001 | 187.729996 | 187.649994 | 183.070007 | 186.110001 | 187.039993 | 186.100006 | 188.610001 | 188.169998 | 191.529999 | 192.880005 | 192.300003 | 190.839996 | 192.210007 | 191.199997 | 189.779999 | 188.240005 | 190.270004 | 191.919998 | 191.199997 | 191.279999 | 188.259995 | 186.119995 | 186.240005 | 187.770004 | 194.240005 | 183.910004 | 186.850006 | 188.259995 | 185.130005 | 186.850006 | 189.830002 | 190.619995 | 190.720001 | 189.339996 | 192.380005 | 193.160004 | 192.960007 | 190.449997 | 189.649994 | 189.5 | 187.869995 | 188.699997 |
2021-07-22 | TXN | Texas Instruments continues pullback as analysts question soft guidance | wellesenterprises/iStock Editorial via Getty Images
Texas Instruments (NASDAQ:TXN) received a price target boost after yesterday's earnings report but most analysts voiced concerns about the inline sequential guidance and what that means for the semiconductor cycle.
Rosenblatt maintains a Buy rating and raises TI's price target from $220 to $230, noting the broad-based momentum and share gains during the quarter.
Analyst Hans Mosesmann says semiconductors are in the "mother of all cycles" and acknowledges TI's below-seasonal guidance. However, Mosesmann says several quarters of massive year-over-year growth have made near-term seasonal dynamics rather useless.
The analyst expects TI to spend the next four quarters trying to keep up with demand while building inventory. The "real new capacity" for TI could hit in the second half of 2022.
Barclays maintains an Underweight rating and $170 PT for TI, saying a "well-run company" can't "offset cycle correction" and will struggle to achieve outperformance.
Evercore sticks with an In-Line rating and $200 price target, calling the disappointing revenue guidance "nonsensical" and likely conservative. The firm notes that sequential growth should come from "incremental capacity" and doesn't reflect on the broader health of the semiconductor market.
Texas Instruments shares are down 4.5% pre-market to $185.50.
Yesterday, TI reported second quarter beats driven by strong demand in the industrial, automotive and personal electronics markets. | 2021-07-23T00:00:00 | 2021-07-23T00:00:00 | 188 | 188.669998 | 190.259995 | 188.610001 | 187.729996 | 187.649994 | 183.070007 | 186.110001 | 187.039993 | 186.100006 | 188.610001 | 188.169998 | 191.529999 | 192.880005 | 192.300003 | 190.839996 | 192.210007 | 191.199997 | 189.779999 | 188.240005 | 190.270004 | 191.919998 | 191.199997 | 191.279999 | 188.259995 | 186.119995 | 186.240005 | 187.770004 | 194.240005 | 183.910004 | 186.850006 | 188.259995 | 185.130005 | 186.850006 | 189.830002 | 190.619995 | 190.720001 | 189.339996 | 192.380005 | 193.160004 | 192.960007 | 190.449997 | 189.649994 | 189.5 | 187.869995 | 188.699997 |
2021-07-21 | TXN | IMGN, RGP, NTGR and NTRA among after-hours movers | Gainers:
IMGN
+10.1%. RGP
+9.7%. CLOV
+7.2%. MRIN
+7.1%.
BKEP
+6.3%.
Losers: NTGR
-13.4%. VRNA
-3.9%. TXN
-3.8%. GO
-3.7%. NTRA
-3.3%. | 2021-07-22T00:00:00 | 2021-07-22T00:00:00 | 186.449997 | 188 | 188.669998 | 190.259995 | 188.610001 | 187.729996 | 187.649994 | 183.070007 | 186.110001 | 187.039993 | 186.100006 | 188.610001 | 188.169998 | 191.529999 | 192.880005 | 192.300003 | 190.839996 | 192.210007 | 191.199997 | 189.779999 | 188.240005 | 190.270004 | 191.919998 | 191.199997 | 191.279999 | 188.259995 | 186.119995 | 186.240005 | 187.770004 | 194.240005 | 183.910004 | 186.850006 | 188.259995 | 185.130005 | 186.850006 | 189.830002 | 190.619995 | 190.720001 | 189.339996 | 192.380005 | 193.160004 | 192.960007 | 190.449997 | 189.649994 | 189.5 | 187.869995 |
2021-07-21 | TXN | Texas Instruments stock drops after soft third-quarter forecast | wellesenterprises/iStock Editorial via Getty Images
Semiconductor bellwether Texas Instruments (NASDAQ:TXN) reports second-quarter results that beat analyst estimates driven by strong demand in the industrial, automotive and personal electronics end markets. However, inline third-quarter guidance has TI trading down 3.2% after hours.
Revenue was up 41% year-over-year to $4.58B.Adjusted profit of $1.99 beat consensus by $0.14.
Analog sales totaled $3.46B, above the $3.32B consensus. Embedded processing sales totaled $780M versus the $776.6M expected by analysts. Analog was up 6% sequentially and 42% on the year, and Embedded increased by 2% and 43%, respectively.
Cash flow from operations totaled $7.5B for the trailing 12 months with free cash flow of $6.5B. TI returned $3.9B to investors through share repurchases and dividends during the period with the dividend representing 56% of free cash flow.
For the third quarter, TI forecasts revenue of $4.4-4.76B compared to the $4.59B consensus. Adjusted profit is expected to come in between $1.87 and $2.13 versus the $1.97 estimate.
Texas Instruments peers ON Semiconductor (NASDAQ:ON) and Microchip Technology (NASDAQ:MCHP) are also seeing red after the report, dropping 2.4% and 1%, respectively.
Earlier today, semiconductor equipment giant ASML reported strong earnings and guidance, driving the sector to outperform the broader tech sector. | 2021-07-22T00:00:00 | 2021-07-22T00:00:00 | 186.449997 | 188 | 188.669998 | 190.259995 | 188.610001 | 187.729996 | 187.649994 | 183.070007 | 186.110001 | 187.039993 | 186.100006 | 188.610001 | 188.169998 | 191.529999 | 192.880005 | 192.300003 | 190.839996 | 192.210007 | 191.199997 | 189.779999 | 188.240005 | 190.270004 | 191.919998 | 191.199997 | 191.279999 | 188.259995 | 186.119995 | 186.240005 | 187.770004 | 194.240005 | 183.910004 | 186.850006 | 188.259995 | 185.130005 | 186.850006 | 189.830002 | 190.619995 | 190.720001 | 189.339996 | 192.380005 | 193.160004 | 192.960007 | 190.449997 | 189.649994 | 189.5 | 187.869995 |
2021-07-21 | TXN | Texas Instruments EPS beats by $0.14, beats on revenue | Texas Instruments (NASDAQ:TXN): Q2 Non-GAAP EPS of $1.99 beats by $0.14; GAAP EPS of $2.05 beats by $0.22.
Revenue of $4.58B (+41.4% Y/Y) beats by $220M.
Analog revenue of $3.46B vs. $3.31B.
"TI's third quarter outlook is for revenue in the range of $4.40 billion to $4.76 billion and earnings per share between $1.87 and $2.13 ($1.97 consensus). We continue to expect our 2021 annual operating tax rate to be about 14%.
Shares -4%.
Press Release | 2021-07-22T00:00:00 | 2021-07-22T00:00:00 | 186.449997 | 188 | 188.669998 | 190.259995 | 188.610001 | 187.729996 | 187.649994 | 183.070007 | 186.110001 | 187.039993 | 186.100006 | 188.610001 | 188.169998 | 191.529999 | 192.880005 | 192.300003 | 190.839996 | 192.210007 | 191.199997 | 189.779999 | 188.240005 | 190.270004 | 191.919998 | 191.199997 | 191.279999 | 188.259995 | 186.119995 | 186.240005 | 187.770004 | 194.240005 | 183.910004 | 186.850006 | 188.259995 | 185.130005 | 186.850006 | 189.830002 | 190.619995 | 190.720001 | 189.339996 | 192.380005 | 193.160004 | 192.960007 | 190.449997 | 189.649994 | 189.5 | 187.869995 |
2021-07-23 | TXN | TSMC reportedly signs multiple auto chip deals amid capacity expansion | Sundry Photography/iStock Editorial via Getty Images
Taiwan Semiconductor Manufacturing Co. (NYSE:TSM) is reportedly ramping up capacity and prioritizing automotive chips after signing multiple contracts through 2022.
DigiTimes sources say TSMC is actively working with the auto supply chain to help alleviate the global chip shortage, which is expected to ease starting in the third quarter.
United Microelectronics (NYSE:UMC) and other Taiwan-based foundries are expected to follow TSMC's lead in prioritizing the fabless auto chip customers.
TSMC CEO C.C. Wei recently said the company's auto chip output was up about 30% year-over-year during the first half of 2021. The company remains on track to finish the year with output 60% above 2020 levels.
TSMC expects 28-nanometer to be the primary process technology for its auto chip manufacturing. The company plans to add 28nm lines at its factory site in Nanjing, which will have an additional 40,000 wafers installed by mid-2023.
The automotive chip shortage started when the pandemic spiked chip demand in areas like consumer electronics while vehicle sales dropped, leading automakers to pull back on chip orders. When the auto market had a faster than expected recovery, foundries didn't have the capacity slots available to add automakers fully back into the fold.
The chip shortage was further stretched by weather-related power outages at Samsung, Infineon (OTCQX:IFNNY), and NXP Semiconductors (NASDAQ:NXPI). Auto chip giant Renesas (OTCPK:RNECF) was then hit by a fire at a chip plant that put its production behind.
The majority of the automotive chip companies outsource at least some of their chip production to TSMC. The most notable exception is STMicroelectronics (NYSE:STM), which sticks to in-house auto chip production.
Earlier this week, auto chip company Texas Instruments (NASDAQ:TXN) reported upside earnings with a weak third-quarter forecast that sent semiconductor stocks lower.
Intel CEO Pat Gelsinger said during yesterday's earnings call that he expects the global chip shortage to continue for another year or two. | 2021-07-24T00:00:00 | 2021-07-26T00:00:00 | 188.669998 | 190.259995 | 188.610001 | 187.729996 | 187.649994 | 183.070007 | 186.110001 | 187.039993 | 186.100006 | 188.610001 | 188.169998 | 191.529999 | 192.880005 | 192.300003 | 190.839996 | 192.210007 | 191.199997 | 189.779999 | 188.240005 | 190.270004 | 191.919998 | 191.199997 | 191.279999 | 188.259995 | 186.119995 | 186.240005 | 187.770004 | 194.240005 | 183.910004 | 186.850006 | 188.259995 | 185.130005 | 186.850006 | 189.830002 | 190.619995 | 190.720001 | 189.339996 | 192.380005 | 193.160004 | 192.960007 | 190.449997 | 189.649994 | 189.5 | 187.869995 | 188.699997 | 189.850006 |
2021-07-29 | TXN | These two dividend ETFs have generated 20% average annual returns for five years | marchmeena29/iStock via Getty Images
Searching for a consistent investment that's provided a 20% average annual return over the past five years?
Here are two dividend ETFs that have done that while yielding 2% or more per year.
Please Note:
Five-year returns are based on the CRSP methodology, which assumes all dividends are reinvested and that no taxes are collected on dividend payments.
Schwab U.S. Dividend Equity ETF
Dividend ETFs are a popular choice for investors who want two separate sources of profits -- dividends and potential capital gains.
The Schwab U.S. Dividend Equity ETF (NYSEARCA:SCHD) has used both to provide a +108.31% cumulative return over a five-year period. It also has a 2.88% dividend yield that's distributed quarterly.
SCHD seeks to track the total return of the Dow Jones U.S. Dividend 100 Index. Schwab describes the ETF as a âstraightforward, low-cost fund offering potential tax-efficiencyâ fund.
The ETF is relatively equal-weighted by sector, with financials and industrials serving as its most significant focus areas:
SCHD has 102 total holdings, with the top three consisting of Merck & Co. (NYSE:MRK) at 4.26%, Home Depot (NYSE:HD) at 4.20%, and Texas Instruments (NASDAQ:TXN) at 4.18%. Click here for a complete holdings breakdown.
From a cost standpoint, SCHD has an expense ratio of 0.06%, which is lower than the SPDR S&P 500 Trust ETF (NYSEARCA:SPY), the worldâs largest exchange traded fund in AUM terms.
As for price action, SCHD is +18.24% YTD and closed +0.62% in Thursdayâs trading session.
iShares Core Dividend Growth ETF
iShares Core Dividend Growth ETF (NYSEARCA:DGRO) has a +106.43% five-year return and a 2.03% dividend yield that's distributed quarterly.
DGRO invests in growth and value dividend stocks of companies across a diversified market capitalization.
And as with SCHD, the ETF also has a relatively equal sector weighing, with financials and technology serving as key areas:
DGRO currently has 388 holdings, including top-three positions Microsoft (NASDAQ:MSFT) at 3.32%, Apple (NASDAQ:AAPL), which represents 3.25%, and Pfizer (NYSE:PFE) at 2.95%. See the complete breakdown here.
From a cost point of view, DGRO has a 0.08% expense ratio, which falls just under SPY's 0.09%.
From a YTD standpoint, DGRO is +14.77%, and it finished Thursday's trading session +0.62%.
Here's YTD chart of how both ETFs have fared against each other and SPY:
(Editor's note: An earlier version of this article incorrectly stated that these ETFs provided 20% "annualized returns" over five years rather than the correct 20% "average annual returns" over five years.) | 2021-07-30T00:00:00 | 2021-07-30T00:00:00 | 187.649994 | 183.070007 | 186.110001 | 187.039993 | 186.100006 | 188.610001 | 188.169998 | 191.529999 | 192.880005 | 192.300003 | 190.839996 | 192.210007 | 191.199997 | 189.779999 | 188.240005 | 190.270004 | 191.919998 | 191.199997 | 191.279999 | 188.259995 | 186.119995 | 186.240005 | 187.770004 | 194.240005 | 183.910004 | 186.850006 | 188.259995 | 185.130005 | 186.850006 | 189.830002 | 190.619995 | 190.720001 | 189.339996 | 192.380005 | 193.160004 | 192.960007 | 190.449997 | 189.649994 | 189.5 | 187.869995 | 188.699997 | 189.850006 | 186.320007 | 183.800003 | 185.039993 | 184.970001 |
2021-08-24 | TXN | Samsung unlikely to target NXP Semiconductors for acquisition, report says | Michael Vi/iStock Editorial via Getty Images
Samsung (OTC:SSNLF) is unlikely to target NXP Semiconductors (NASDAQ:NXPI) for a potential acquisition as the company is now too big and antitrust may be problematic.
NXP Semiconductors (NXPI) was on Samsung's shopping list, but Samsung (OTC:SSNLF) is having second thoughts due to NXPI's size, The Korea Times reported on Sunday, citing an unidentified industry executive. Samsung was rumored to be considered purchasing NXPI in 2019.
A potential deal may carry large antitrust risk and NXP (NXPI) is now estimated to be valued at 80 trillion won ($69B) in an acquisition, according to the report.
The Korea Times
also reported in early February that Samsung wanted to acquire an auto chip company with NXP, Infineon (OTCQX:IFNNY), Renesas (OTCPK:RNECF) and Texas Instruments (NASDAQ:TXN) among potential targets.
Recall that Qualcomm (NASDAQ:QCOM) attempted to purchase NXPI in 2018, though Qualcomm walked away at least partly due to trade tensions between the U.S. and China.
Earlier, Samsung plans $205 billion expansion, including chip investment. | 2021-08-25T00:00:00 | 2021-08-25T00:00:00 | 191.279999 | 188.259995 | 186.119995 | 186.240005 | 187.770004 | 194.240005 | 183.910004 | 186.850006 | 188.259995 | 185.130005 | 186.850006 | 189.830002 | 190.619995 | 190.720001 | 189.339996 | 192.380005 | 193.160004 | 192.960007 | 190.449997 | 189.649994 | 189.5 | 187.869995 | 188.699997 | 189.850006 | 186.320007 | 183.800003 | 185.039993 | 184.970001 | 187.850006 | 187.820007 | 188.089996 | 187.970001 | 190.520004 | 191.429993 | 190.910004 | 188.350006 | 189.410004 | 189.880005 | 189.460007 | 188.800003 | 188.470001 | 190.649994 | 193.979996 | 195.110001 | 197.5 | 196.820007 |
2021-09-15 | TXN | Texas Instruments increases dividend by 13% to $1.15 | kuriputosu/iStock via Getty Images
Texas Instruments (NASDAQ:TXN) declares $1.15/share quarterly dividend, 12.7% increase from prior dividend of $1.02.
Forward yield 2.33%
Payable Nov. 15; for shareholders of record Nov. 1; ex-div Oct. 29.
A comparision with peers on dividend parameters.
See TXN Dividend Scorecard, Yield Chart, & Dividend Growth. | 2021-09-16T00:00:00 | 2021-09-16T00:00:00 | 192.380005 | 193.160004 | 192.960007 | 190.449997 | 189.649994 | 189.5 | 187.869995 | 188.699997 | 189.850006 | 186.320007 | 183.800003 | 185.039993 | 184.970001 | 187.850006 | 187.820007 | 188.089996 | 187.970001 | 190.520004 | 191.429993 | 190.910004 | 188.350006 | 189.410004 | 189.880005 | 189.460007 | 188.800003 | 188.470001 | 190.649994 | 193.979996 | 195.110001 | 197.5 | 196.820007 | 196.25 | 192.589996 | 192.960007 | 195.919998 | 198.669998 | 200.649994 | 200.330002 | 194.889999 | 193.070007 | 192.210007 | 193.789993 | 190.399994 | 193.880005 | 194.389999 | 195.309998 |
2021-09-27 | TXN | U.S. chip makers log gains, shrugging off China power restrictions | JHVEPhoto/iStock Editorial via Getty Images
AMD has reversed course from the early morning, moving to a 1.1% gain along with a few semiconductor peers bucking the down market in technology today.
The developments come alongside the prospects that a Chinese tightening of energy consumption could worsen ongoing supply-chain disruptions, as firms in China curb production to comply.
Intel (NASDAQ:INTC) has also risen to a gain of 0.5%, and Micron (NASDAQ:MU) is up 1.1% now. Xilinx (XLNX
+1.2%) and Qorvo (QRVO
+0.7%) are higher while much of the rest of the sector is still down, notably Nvidia (NVDA
-2.7%) but also including Broadcom (AVGO
-0.6%), Qualcomm (QCOM
-0.7%), Analog Devices (ADI
-1.2%) and Texas Instruments (TXN
-1.1%).
Meanwhile, European suppliers today have largely dismissed worries over the power story - STMicroelectronics (NYSE:STM) is down just 0.6% in NYSE trading - and Europe and the U.S. are set to announce chip commitments on Wednesday at a Pittsburgh meeting of the Trade and Technology Council.
Progress in the semiconductor arena between the U.S. and Europe diverges from ongoing conversations about section 232 tariffs on steel. | 2021-09-28T00:00:00 | 2021-09-28T00:00:00 | 189.850006 | 186.320007 | 183.800003 | 185.039993 | 184.970001 | 187.850006 | 187.820007 | 188.089996 | 187.970001 | 190.520004 | 191.429993 | 190.910004 | 188.350006 | 189.410004 | 189.880005 | 189.460007 | 188.800003 | 188.470001 | 190.649994 | 193.979996 | 195.110001 | 197.5 | 196.820007 | 196.25 | 192.589996 | 192.960007 | 195.919998 | 198.669998 | 200.649994 | 200.330002 | 194.889999 | 193.070007 | 192.210007 | 193.789993 | 190.399994 | 193.880005 | 194.389999 | 195.309998 | 195.240005 | 193.369995 | 188.479996 | 187.100006 | 192.490005 | 194.449997 | 194.910004 | 198.229996 |
2021-10-13 | TXN | Apple analysts weigh in on iPhone 13 production cut reports | Ming Yeung/Getty Images News
Wall Street analysts that cover Apple (NASDAQ:AAPL) have begun assessing reports that the company is cutting iPhone 13 production due to shortages among some of its communications chip suppliers. And the significance of the matter appears to stretch between Apple feeling some pain in its holiday season sales, to it being almost a non-event in the long term for the consumer-technology giant.
Apple (AAPL) is reportedly planning on cutting its iPhone 13 production by up to 10 million units over the last three months of the year due to a shortage of components from suppliers such as Broadcom (NASDAQ:AVGO) and Texas Instruments (NASDAQ:TXN). Goldman Sachs analyst Rod Hall said the reported shortages likely explain what he says has been a "modest decrease" in product lead times in the United States and China. However, Hall said that iPhone 13 lead times are still tracking higher than those of the iPhone 12 when it came out last year.
Hall said that investors should keep in mind that "lead times represent the balance of supply versus demand as opposed to a direct indicator of demand," and that it is currently difficult to estimate iPhone demand among consumers as most of Apple's demand occurs during the two weeks around Christmas every year.
"Factors like re-opening, high consumer savings and supply shortages all combine to make predictions more difficult than usual this year," Hall said. "It remains our belief that Apple will find it increasingly hard to grow revenues and may well experience declining revenues for a period."
Credit Suisse analyst John Pitzer said that Apple's reported production plans paint a meaningful picture of the state of the current semiconductor supply situation.
"Apple is one of the largest single consumers of chips globally, and is typically at the front of the supply line," Pitzer said. "Shortfalls at Apple should help to punctuate the extent of supply shortages and perhaps provide comfort that the semiconductor cycle is not at risk of an abrupt end despite what is clearly some restocking across the supply chain."
As trading progressed, Wednesday, Apple (AAPL) shares slipped by 0.5%, while Broadcom (AVGO) was off by 0.2% and TI (TXN) dipped by 0.5%.
At Morgan Stanley, analyst Katy Huberty said that even if the supply chain issues become more pronounced in the near-term it's important to keep in mind several factors in Apple's favor. Huberty said these include Apple likely getting preferential treatment during times of tight supplies, and the company's well-known loyalty among its customers, which makes it so "any delay in production just pushes iPhone sales into future quarters."
Huberty said while the current quarter's iPhone shipments may be impacted by the component shortages, she expects little effect on her estimates that Apple will ship 238.5 million iPhones during its 2022 fiscal year.
Apple unveiled four new iPhone 13 models at a company event in September. Initial pre-orders were seen as positive, and suggested that Apple was in a position for a strong end-of-the-year Christmas and holiday consumer shopping season. | 2021-10-14T00:00:00 | 2021-10-14T00:00:00 | 188.350006 | 189.410004 | 189.880005 | 189.460007 | 188.800003 | 188.470001 | 190.649994 | 193.979996 | 195.110001 | 197.5 | 196.820007 | 196.25 | 192.589996 | 192.960007 | 195.919998 | 198.669998 | 200.649994 | 200.330002 | 194.889999 | 193.070007 | 192.210007 | 193.789993 | 190.399994 | 193.880005 | 194.389999 | 195.309998 | 195.240005 | 193.369995 | 188.479996 | 187.100006 | 192.490005 | 194.449997 | 194.910004 | 198.229996 | 199.380005 | 201.289993 | 199.070007 | 200.199997 | 196.979996 | 187.100006 | 187.869995 | 187.479996 | 187.470001 | 189.339996 | 189.190002 | 191.110001 |
2021-10-12 | TXN | Apple set to cut iPhone 13 production due to chip shortages--report | Ming Yeung/Getty Images News
Apple (NASDAQ:AAPL) shares dipped in after-hours trading Tuesday following a report that the company is slashing its iPhone 13 production targets for this year due to ongoing component shortages in the semiconductor market.
According to Bloomberg, "people with knowledge of the matter" say that Apple will cut its iPhone 13 targets by as many as 10 million devices due to issues affecting suppliers Broadcom (NASDAQ:AVGO) and Texas Instruments (NASDAQ:TXN). The two companies provide communications chips and technology for the iPhone, but like many in the chip sector this year, they have had their own supply chains disrupted due to shortfalls of key semiconductor-making parts.
Apple unveiled four new models of the iPhone 13 at a company event in September, and the first devices began shipping less than three weeks ago. Apple had reportedly set a target of making 90 million new iPhone 13 units between October and December, which is always the company's biggest revenue quarter during its fiscal year.
The iPhone remains Apple's largest source of sales, and accounted for $39.6 billion of the company's $81.4 billion in revenue in its fiscal-third quarter, which ended in June. Cutting iPhone production at the present time may suggest that Apple is expecting to see a hit to its holiday season.
Dan Ives, of Wedbush, said that despite the production reports, he still believes Apple is set up for strong iPhone growth in the year ahead.
["It's"] just a supply chain timing issue," Ives said. "It's not a worry for us and ultimately speaks to a stronger demand trajectory than the Street had been anticipating with the supply chain constraints now needing to reduce builds given component shortages."
Shortly after Apple showed off the iPhone 13, several Wall Street analysts said the newest iPhone set the company up for strong end-of-the-year sales. | 2021-10-13T00:00:00 | 2021-10-13T00:00:00 | 190.910004 | 188.350006 | 189.410004 | 189.880005 | 189.460007 | 188.800003 | 188.470001 | 190.649994 | 193.979996 | 195.110001 | 197.5 | 196.820007 | 196.25 | 192.589996 | 192.960007 | 195.919998 | 198.669998 | 200.649994 | 200.330002 | 194.889999 | 193.070007 | 192.210007 | 193.789993 | 190.399994 | 193.880005 | 194.389999 | 195.309998 | 195.240005 | 193.369995 | 188.479996 | 187.100006 | 192.490005 | 194.449997 | 194.910004 | 198.229996 | 199.380005 | 201.289993 | 199.070007 | 200.199997 | 196.979996 | 187.100006 | 187.869995 | 187.479996 | 187.470001 | 189.339996 | 189.190002 |
2021-10-14 | TXN | Teradyne, Keysight rise as chip-testing companies join in sector rally | MACRO PHOTO/iStock via Getty Images
Teradyne (NASDAQ:TER), Keysight Technologies (NYSE:KEYS) and other companies specializing in testing and equipment used in the semiconductor industry saw their shares rise Thursday amid broad chip-sector gains spurred on by the latest announcements from Taiwan Semiconductor (NYSE:TSM).
Teradyne (TER) climbed 3.5%, while Keysight (KEYS) shares rose 2.2% and Advantest (OTCPK:ATEYY) was up by 4.2% as investors showed some enthusiasm over the longer-term outlook for the chip industry following comments from semiconductor foundry giant Taiwan Semiconductor (TSM).
Prior to Thursday's market open, Taiwan Semi (TSM) said it would build a new factory in Japan, and also gave an upbeat third-quarter report and fourth-quarter forecast. The world's largest semiconductor equipment foundry said that it expects its fourth-quarter sales to be between $15.4 billion and $15.7 billion.
While Taiwan Semi (TSM) said its new Japan factory wouldn't begin production until late 2024, the announcement was enough to get investors behind the chip sector, which has been the source of product shortfalls that have affected the broader tech industry throughout the year.
Among chip-equipment makers, Applied Materials (NASDAQ:AMAT), KLA (NASDAQ:KLAC), FormFactor (NASDAQ:FORM) and Lam Research (NASDAQ:LRCX) all rose by at least 2.5% following Taiwan Semi's (TSM) announcements.
Chipmakers also got a boost, with Intel (NASDAQ:INTC) up by 3.2%, Advanced Micro Devices (NASDAQ:AMD) rising 2.5%, Micron Technology (NASDAQ:MU) up by 2.3%, Nvidia (NASDAQ:NVDA) gaining 3.4%, Broadcom (NASDAQ:AVGO) rising 2.5% and Texas Instruments (NASDAQ:TXN) gaining almost 3%.
Earlier in the week, Apple (NASDAQ:AAPL) added to concerns about chip-supply shortages following reports that it will slash its iPhone 13 production plans due to a lack of necessary communications chip components. | 2021-10-15T00:00:00 | 2021-10-15T00:00:00 | 189.410004 | 189.880005 | 189.460007 | 188.800003 | 188.470001 | 190.649994 | 193.979996 | 195.110001 | 197.5 | 196.820007 | 196.25 | 192.589996 | 192.960007 | 195.919998 | 198.669998 | 200.649994 | 200.330002 | 194.889999 | 193.070007 | 192.210007 | 193.789993 | 190.399994 | 193.880005 | 194.389999 | 195.309998 | 195.240005 | 193.369995 | 188.479996 | 187.100006 | 192.490005 | 194.449997 | 194.910004 | 198.229996 | 199.380005 | 201.289993 | 199.070007 | 200.199997 | 196.979996 | 187.100006 | 187.869995 | 187.479996 | 187.470001 | 189.339996 | 189.190002 | 191.110001 | 193.399994 |
2021-10-16 | TXN | Apple to show the Mac still matters in an iPhone world | Prykhodov/iStock Editorial via Getty Images
After already showing off the new iPhone 13, new models of the iPad and the next version of the Apple Watch, Apple is likely leaving little to surprise with a company event set for Oct. 18 that is expected to focus heavily on the Mac.
Apple (NASDAQ:AAPL) stoked enthusiasm by tweeting out a promo for the event called "Unleashed" earlier this week. Dan Ives, who covers Apple for Wedbush, said he expects Apple (AAPL) Chief Executive Tim Cook to show off a slate of new products that will be led by an upgraded MacBook Pro and, likely, a new version of the company's wireless AirPods.
"Apple is launching two key products into [the] holiday season speaking to the company's confidence around getting the new Macs [and] AirPods into customer hands by [the] holiday season despite the doomsday supply chain skeptics," Ives said.
With everything that Apple is involved in now, it's almost possible to lose track of the Mac in the company's grand scheme of things. The iPhone remains Apple's most-popular product, and biggest cash cow--iPhones accounted for $39.6 billion of the company's $81.4 billion in sales in its most-recent quarter. At $17.5 billion in revenue during Apple's fiscal third quarter, services are now Apple's second-largest source of sales. And the company can also put some Emmy Awards on its proverbial mantel, courtesy of Apple TV+ programs such as Ted Lasso.
But, the Mac is no slouch. Apple still brings in enough money from the Mac in one quarter to obliterate many company's total annual sales. When Apple reported its fiscal third-quarter results in July, Macs accounted for $8.24 billion in revenue, and that was a gain of 16.4% from the same period in 2020.
Tech industry analyst Tim Bajarin, of Creative Strategies, says at least part of Apple's Mac strength comes from the company using its own M1 chipsets. Bajarin said the powerful M1 processes "rival all of their semiconductor competitors," and Apple grow the perception of its Mac business.
"They actually making some big inroads into the enterprise," Bajarin said. "Professional and enterprise customers are asking for bigger and more Macs, and I suspect this event is tied to meeting those needs."
Longtime Apple watcher Gene Munster, of Loup Ventures, said that with Mac sales now accounting for about 10% of the company's annual revenue, "My thoughts are that the Mac is back. I believe [the Mac] will sustain that growth over the next few years based on working and learning from anywhere."
Meanwhile, Wedbush's Ives is maintaining his outperform rating and $185-a-share price target on Apple's stock. Ives said one of the major enhancements expected for the Mac is what is being called the M1X processor, which he believes "will be a game changer" that could lead to more than 30% of current MacBook users upgrading their laptops over the next year.
"The M1X is essentially a new heavy duty engine being put in this new MacBook and will be music to the ears of core Mac loyalists awaiting this release," Ives said.
Ives said that in showing off new Mac computers, the company is flexing its muscles "in the face of the biggest chip shortage seen in decades." Reports recently surfaced saying that because of shortages from suppliers Broadcom (NASDAQ:AVGO) and Texas Instruments (NASDAQ:TXN), Apple will cut production of the iPhone 13 by 10 million units this year. | 2021-10-17T00:00:00 | 2021-10-18T00:00:00 | 189.880005 | 189.460007 | 188.800003 | 188.470001 | 190.649994 | 193.979996 | 195.110001 | 197.5 | 196.820007 | 196.25 | 192.589996 | 192.960007 | 195.919998 | 198.669998 | 200.649994 | 200.330002 | 194.889999 | 193.070007 | 192.210007 | 193.789993 | 190.399994 | 193.880005 | 194.389999 | 195.309998 | 195.240005 | 193.369995 | 188.479996 | 187.100006 | 192.490005 | 194.449997 | 194.910004 | 198.229996 | 199.380005 | 201.289993 | 199.070007 | 200.199997 | 196.979996 | 187.100006 | 187.869995 | 187.479996 | 187.470001 | 189.339996 | 189.190002 | 191.110001 | 193.399994 | 192.360001 |
2021-10-16 | TXN | Tech Roundup: Facebook drama, Apple's next event and a Jack Ma sighting | Chip Somodevilla/Getty Images News
More Facebook (NASDAQ:FB) drama, Apple (NASDAQ:AAPL) set itself up for another event, and Alibaba's (NYSE:BABA) Jack Ma showed up in Hong Kong for the first time in months. It was another active week in the tech sector heading into the next big round of earnings reports.
Facebook (FB) wasted little time staying in the spotlight, as a second whistleblower came forward with claims about how the social media giant targets the use of its products toward young people. By the end of the week, Facebook's shares had fallen 1.6%, and brokerage Evercore ISI added the company to its Tactical Underperform list ahead of Facebook's third-quarter results, due on October 25.
Apple (AAPL) was also busy, as the company said it would hold an event on October 18. While Apple didn't say what it had in store, it is widely believed that the company will unveil some sort of upgrade to its line of Mac computers, including the MacBook laptop.
But, Apple also made waves following a report that the company will cut its iPhone 13 production by 10 million units over the rest of the year due to shortages in communications chips from suppliers Broadcom (NASDAQ:AVGO) and Texas Instruments (NASDAQ:TXN).
And, there was a sign that Apple might be bending to some of the pressure from Chinese officials following a report that the company removed a popular Koran app from its App Store in China.
Speaking of China...Alibaba (BABA) Chairman Jack Ma was seen spotted in Hong Kong for the first time in a year, or since he made some critical comments about Chinese business regulators in October 2020. Ma has kept a largely low profile for much of this year.
And along with China's pressure on tech companies and their operations, Microsoft (NASDAQ:MSFT) said it would shutter its LinkedIn operations in the country due to ongoing heavy handed regulations.
Back to the ongoing shortage in computer components...Taiwan Semiconductor (NYSE:TSM) had some good news, as it delivered a positive quarterly report and outlook, and said it will build a new chip-equipment production plant in Japan. Shortly after Taiwan Semi's announcements, Wall Street threw its weight behind chip-equipment makers like Teradyne (NASDAQ:TER) and Keysight Technologies (NYSE:KEYS), and brokerage Piper Sandler initiated coverage on several chip-equipment companies, including Applied Materials (NASDAQ:AMAT) and KLA (NASDAQ:KLAC).
In-flight Internet service provider Gogo (NASDAQ:GOGO) flew a little higher after it signed on private-aviation company JetEdge as its 5G wireless technology launch customer. However, Gogo then saw what can happen when Elon Musk speaks, as the Tesla (NASDAQ:TSLA) and SpaceX boss said SpaceX was looking at possibly bringing its Starlink satellite Internet service to commercial airplanes.
Big Tech might be about to hear more from congress, as Senators Amy Klobuchar (D-Minn.) and Charles Grassley (R-Iowa) are planning to introduce a new antitrust bill that takes aim at the practices of some of the largest American tech companies.
Is Groupon (NASDAQ:GRPN) still a thing? Apparently, it is. And the provider of online discounts and deals said Chief Financial Officer Melissa Thomas was leaving the company. | 2021-10-17T00:00:00 | 2021-10-18T00:00:00 | 189.880005 | 189.460007 | 188.800003 | 188.470001 | 190.649994 | 193.979996 | 195.110001 | 197.5 | 196.820007 | 196.25 | 192.589996 | 192.960007 | 195.919998 | 198.669998 | 200.649994 | 200.330002 | 194.889999 | 193.070007 | 192.210007 | 193.789993 | 190.399994 | 193.880005 | 194.389999 | 195.309998 | 195.240005 | 193.369995 | 188.479996 | 187.100006 | 192.490005 | 194.449997 | 194.910004 | 198.229996 | 199.380005 | 201.289993 | 199.070007 | 200.199997 | 196.979996 | 187.100006 | 187.869995 | 187.479996 | 187.470001 | 189.339996 | 189.190002 | 191.110001 | 193.399994 | 192.360001 |
2021-10-21 | TXN | Texas Instruments declares $1.15 dividend | Texas Instruments (NASDAQ:TXN) declares $1.15/share quarterly dividend, in line with previous.
Forward yield 2.28%
Payable Nov. 15; for shareholders of record Nov. 1; ex-div Oct. 29.
See TXN Dividend Scorecard, Yield Chart, & Dividend Growth. | 2021-10-22T00:00:00 | 2021-10-22T00:00:00 | 190.649994 | 193.979996 | 195.110001 | 197.5 | 196.820007 | 196.25 | 192.589996 | 192.960007 | 195.919998 | 198.669998 | 200.649994 | 200.330002 | 194.889999 | 193.070007 | 192.210007 | 193.789993 | 190.399994 | 193.880005 | 194.389999 | 195.309998 | 195.240005 | 193.369995 | 188.479996 | 187.100006 | 192.490005 | 194.449997 | 194.910004 | 198.229996 | 199.380005 | 201.289993 | 199.070007 | 200.199997 | 196.979996 | 187.100006 | 187.869995 | 187.479996 | 187.470001 | 189.339996 | 189.190002 | 191.110001 | 193.399994 | 192.360001 | 190.789993 | 187.020004 | 188.600006 | 190.080002 |
2021-10-25 | TXN | Texas Instruments Q3 2021 Earnings Preview | Sundry Photography/iStock Editorial via Getty Images
Texas Instruments (NASDAQ:TXN) is scheduled to announce Q3 earnings results on Tuesday, October 26th, after market close.
The consensus EPS Estimate is $2.08 and the consensus Revenue Estimate is $4.67B (+22.3% Y/Y).
Bifurcating: Analog revenue estimate $3.50B; Embedded processing revenue estimate $786.4M; Other revenue estimate $338.9M.
The company reported second-quarter results that beat analyst estimates driven by strong demand in the industrial, automotive and personal electronics end markets. Revenue was up 41% year-over-year to $4.58B, Adjusted profit of $1.99 beat consensus by $0.14.
For the third quarter, TI forecasts revenue of $4.4-4.76B and adjusted profit is expected to come in between $1.87 and $2.13.
Over the last 2 years, TXN has beaten EPS estimates 88% of the time and has beaten revenue estimates 88% of the time.
Over the last 3 months, EPS estimates have seen 4 upward revisions and 1 downward. Revenue estimates have seen 4 upward revisions and 0 downward.
Wall Street is Bullish on Texas Instruments (NASDAQ:TXN). The stock has a Quant Rating of Neutral.
Recent earnings Analysis from our contributors:Texas Instruments: Priced For Perfection
The performance of the stock against its peers on a YTD basis. | 2021-10-26T00:00:00 | 2021-10-26T00:00:00 | 195.110001 | 197.5 | 196.820007 | 196.25 | 192.589996 | 192.960007 | 195.919998 | 198.669998 | 200.649994 | 200.330002 | 194.889999 | 193.070007 | 192.210007 | 193.789993 | 190.399994 | 193.880005 | 194.389999 | 195.309998 | 195.240005 | 193.369995 | 188.479996 | 187.100006 | 192.490005 | 194.449997 | 194.910004 | 198.229996 | 199.380005 | 201.289993 | 199.070007 | 200.199997 | 196.979996 | 187.100006 | 187.869995 | 187.479996 | 187.470001 | 189.339996 | 189.190002 | 191.110001 | 193.399994 | 192.360001 | 190.789993 | 187.020004 | 188.600006 | 190.080002 | 189.229996 | 188.520004 |
2021-10-27 | TXN | Arteris pops more than 40% intraday after IPO values chip-technology firm at some $520M (update) | Zolak/iStock via Getty Images
Chip-technology firm Arteris IP (AIP) popped more than 40% intraday Wednesday in its first trading session following an IPO that had priced at the bottom of its expected range, valuing the company at some $520M.
AIP rose to as high as $19.75 during the session, up 41.1% from the $14 a share that its initial public offering priced at. Shares later pulled back some, but still closed at $18.20, ahead 30% for the session.
The company's IPO had initially gotten a lackluster reception, pricing at the bottom of an expected $14-$16/share range. AIP sold 5M shares through its initial public offering, while also granting underwriters the option to buy as many as 750,000 more for overallotments.
All in, the company raised some $70M from the offering, which will rise to $80.5M if underwriters fully exercise their overallotment options.
Arteris provides chip makers with intellectual property used to create so-called âSystem-on-Chipâ semiconductor designs (or âSoCâ) for use in such applications as automobiles, AI and the Internet of Things.
The companyâs roster of A-list clients includes Texas Instruments (NASDAQ:TXN), privately held Bosch and the Mobileye division of Intel (NASDAQ:INTC).
Seeking Alphaâs Donovan Jones analyzes AIPâs prospects here. | 2021-10-28T00:00:00 | 2021-10-28T00:00:00 | 196.820007 | 196.25 | 192.589996 | 192.960007 | 195.919998 | 198.669998 | 200.649994 | 200.330002 | 194.889999 | 193.070007 | 192.210007 | 193.789993 | 190.399994 | 193.880005 | 194.389999 | 195.309998 | 195.240005 | 193.369995 | 188.479996 | 187.100006 | 192.490005 | 194.449997 | 194.910004 | 198.229996 | 199.380005 | 201.289993 | 199.070007 | 200.199997 | 196.979996 | 187.100006 | 187.869995 | 187.479996 | 187.470001 | 189.339996 | 189.190002 | 191.110001 | 193.399994 | 192.360001 | 190.789993 | 187.020004 | 188.600006 | 190.080002 | 189.229996 | 188.520004 | 189.570007 | 193.470001 |
2021-10-26 | TXN | Texas Instruments EPS beats by $0.03, misses on revenue | Texas Instruments (NASDAQ:TXN): Q3 GAAP EPS of $2.07 beats by $0.03.
Revenue of $4.64B (+21.5% Y/Y) misses by $30M.
Press Release
Analog revenue of $3.55B vs. the consensus of $3.5B.
For the fourth quarter, TI forecasts revenue of $4.22-4.58B compared to the $4.48B consensus. Adjusted profit is expected to come in between $1.83 and $2.07 versus the $1.96 estimate. | 2021-10-27T00:00:00 | 2021-10-27T00:00:00 | 197.5 | 196.820007 | 196.25 | 192.589996 | 192.960007 | 195.919998 | 198.669998 | 200.649994 | 200.330002 | 194.889999 | 193.070007 | 192.210007 | 193.789993 | 190.399994 | 193.880005 | 194.389999 | 195.309998 | 195.240005 | 193.369995 | 188.479996 | 187.100006 | 192.490005 | 194.449997 | 194.910004 | 198.229996 | 199.380005 | 201.289993 | 199.070007 | 200.199997 | 196.979996 | 187.100006 | 187.869995 | 187.479996 | 187.470001 | 189.339996 | 189.190002 | 191.110001 | 193.399994 | 192.360001 | 190.789993 | 187.020004 | 188.600006 | 190.080002 | 189.229996 | 188.520004 | 189.570007 |
2021-11-01 | TXN | Semiconductor shipments swelled to a record high of $145 billion in Q3 2021 | PhonlamaiPhoto/iStock via Getty Images
Worldwide sales of semiconductors in Q3'21 were $144.8 billion, an increase of 27.6% over Q3'20 and 7.4% more than Q2'21, reported by the Semiconductor Industry Association.
âSemiconductor shipments reached all-time highs in the third quarter of 2021, demonstrating both the ongoing high global demand for chips and the industryâs extraordinary efforts to ramp up production to meet that demand,â says John Neuffer, SIA president and CEO.
Global sales for the month of September 2021 were $48.3 billion, an increase of 27.6% over the total from September 2020 and 2.2% more than sales from August 2021.
Regionally, year-to-year sales increased in the Americas 33.5%, Europe 32.3%, Asia Pacific/All Other 27.2%, Japan 24.5%, and China 24.0%.
Month-to-month sales increased in the Americas 3.9%, Europe 2.0%, Japan 2.0%, Asia Pacific/All Other 1.9%, and China 1.5%.
The chart below shows the YTD price returns of INTC, ON, MU, TSM, NXPI, and TXN. | 2021-11-02T00:00:00 | 2021-11-02T00:00:00 | 192.960007 | 195.919998 | 198.669998 | 200.649994 | 200.330002 | 194.889999 | 193.070007 | 192.210007 | 193.789993 | 190.399994 | 193.880005 | 194.389999 | 195.309998 | 195.240005 | 193.369995 | 188.479996 | 187.100006 | 192.490005 | 194.449997 | 194.910004 | 198.229996 | 199.380005 | 201.289993 | 199.070007 | 200.199997 | 196.979996 | 187.100006 | 187.869995 | 187.479996 | 187.470001 | 189.339996 | 189.190002 | 191.110001 | 193.399994 | 192.360001 | 190.789993 | 187.020004 | 188.600006 | 190.080002 | 189.229996 | 188.520004 | 189.570007 | 193.470001 | 195.160004 | 192.5 | 192.639999 |
2021-11-06 | TXN | As Nasdaq 100 extends big winning streak, getting selective on tech can pay: Alpha Tactics | Massimo Giachetti/iStock Editorial via Getty Images
Investors should focus on stock picking in technology more than most other sectors, BMO Capital Markets maintains.
The Nasdaq 100 (NDX)
(NASDAQ:QQQ) notched its 10th winning session in a row on Friday, easily outperforming the broader market for the week, up 3.2% compared with a 2% gain for the S&P 500 (SP500)
(NYSEARCA:SPY).
Info Tech (NYSEARCA:XLK) was the second-best-performing sector, up 3.4% behind a 5% gain in Consumer Discretionary (NYSEARCA:XLY).
"From our lens, Technology continues to be a sector in which investors should focus on stock selection as indicated by our selection vs. allocation model," BMO Chief Market Strategist Brian Belski writes in a note. (See BMO model below.)
"Indeed, NTM P/E dispersion among Tech stocks has increased to its highest level since October 2020, while the 126-day intra-stock performance correlation has dropped to a three-year low, both of which are attributes conducive for stock-picking," Belski says.
BMO is Market Weight on the group, but still says "there are opportunities to generate alpha in the group" looking at companies with stable and consistent earnings.
Looking at XLK, Qorvo (NASDAQ:QRVO) Paychex (NASDAQ:PAYX) and Cadence Design Systems (NASDAQ:CDNS) all get an A+ for earnings revisions from Quant Rating.
In BMO's Disciplined Value Portfolio, where Info Tech has a 14% weighting, it holds Apple (NASDAQ:AAPL), Cisco Systems (NASDAQ:CSCO), Hewlett Packard Enterprise (NYSE:HPE), Microsoft (NASDAQ:MSFT), Oracle (NYSE:ORCL) and Texas Instruments (NASDAQ:TXN).
"If yields (NYSEARCA:TBT)
(NASDAQ:TLT) start to rise again and investors immediately default to selling all of Tech as a result ... we think there could be buy-the-dip opportunities for those consistent earnings growers," Belski says.
Despite its 10-day surge, the Nasdaq 100 is still just a whisker below oversold territory, with its relative strength index at 68.
Looking at a Seeking Alpha portfolio of NDX there are some buy-the-dip candidates that are close to their 50-day simple moving averages, but above the 100-day and 200-day SMAs.
Those include Cisco,
Texas Instruments, Regeneron (NASDAQ:REGN) and Okta (NASDAQ:OKTA).
Screen for the best tech stocks for earnings revisions, momentum and more with Seeking Alpha's advanced screener. | 2021-11-07T00:00:00 | 2021-11-08T00:00:00 | 200.330002 | 194.889999 | 193.070007 | 192.210007 | 193.789993 | 190.399994 | 193.880005 | 194.389999 | 195.309998 | 195.240005 | 193.369995 | 188.479996 | 187.100006 | 192.490005 | 194.449997 | 194.910004 | 198.229996 | 199.380005 | 201.289993 | 199.070007 | 200.199997 | 196.979996 | 187.100006 | 187.869995 | 187.479996 | 187.470001 | 189.339996 | 189.190002 | 191.110001 | 193.399994 | 192.360001 | 190.789993 | 187.020004 | 188.600006 | 190.080002 | 189.229996 | 188.520004 | 189.570007 | 193.470001 | 195.160004 | 192.5 | 192.639999 | 193.600006 | 188.259995 | 194.380005 | 192.369995 |
2021-11-17 | TXN | Texas Instruments to build new chip plants in Texas; add up to 3,000 jobs | wellesenterprises/iStock Editorial via Getty Images
Texas Instruments (NASDAQ:TXN) said Wednesday it will build new chip-fabrication plants in North Texas as part of an investment in production that could reach $30 billion.
TI (TXN) said construction at the Sherman, Texas site will start with two facilities next year, and could expand to include four chip fabrication plants. As many as 3,000 jobs are expected to be created by the new TI expansion.
Rich Templeman, TI's chief executive, said in a statement that the new plants are "part of our long-term capacity planning to continue to strengthen our manufacturing and technology competitive advantage and support our customers' demand in the coming decades."
The first products from the facilities are expected to roll off the assembly line in 2025.
TI (TXN), which supplies products for Apple (NASDAQ:AAPL), recently was caught up in Apple saying that its quarterly results were heavily impacted by semiconductor supply chain shortages. | 2021-11-18T00:00:00 | 2021-11-18T00:00:00 | 195.309998 | 195.240005 | 193.369995 | 188.479996 | 187.100006 | 192.490005 | 194.449997 | 194.910004 | 198.229996 | 199.380005 | 201.289993 | 199.070007 | 200.199997 | 196.979996 | 187.100006 | 187.869995 | 187.479996 | 187.470001 | 189.339996 | 189.190002 | 191.110001 | 193.399994 | 192.360001 | 190.789993 | 187.020004 | 188.600006 | 190.080002 | 189.229996 | 188.520004 | 189.570007 | 193.470001 | 195.160004 | 192.5 | 192.639999 | 193.600006 | 188.259995 | 194.380005 | 192.369995 | 191.759995 | 193.580002 | 193.380005 | 194.610001 | 199.029999 | 196.389999 | 193.399994 | 196 |
2021-11-18 | TXN | UBS identifies stocks getting 'greener' - without losing alpha | piyaset/iStock via Getty Images
UBS has previously dug into the question of whether setting an investment portfolio with an environmental focus on lower carbon intensity sacrifices returns.
Now that the Global Sustainable Investment Review highlights the fact that sustainable investments are up to one-third of professionally managed assets in some developed markets - and with carbon the biggest theme there - the bank is screening for companies that are more likely to cut carbon intensity in the future.
The route it's using to determine that? Look at who owns them, the bank says.
"Transparent, consistent and comparable data on companies' future plans to reduce carbon intensity is not yet available for a broad universe," the analysts say. "Historic trend in carbon intensity is not predictive for future changes. We take a different (more indirect) approach."
That's by looking at the shareholders. It's used data on institutional holdings to see which institutions are demanding green assets; if a company's shareholders are mostly buy-and-hold institutions with a strong preference for low carbon intensity, they may influence the company to get "greener" (and a five-year backtest indicates the same).
Meanwhile, a backtest also shows that a sector- and region-neutral portfolio of the companies with the strongest shareholder influence toward greening would have outperformed by 40 basis points per year - suggesting investors can green up their portfolio without losing alpha, UBS says.
The result is a global screen that UBS ran to identify the companies that may be pushed by institutional owners to cut carbon intensity - ending up in 25 names that UBS covers with a rating of Buy or Neutral, have the highest scores on the selected measure, and proportionally representative of the MSCI World stocks. ("For example, if 23% of MSCI World stocks are from the I.T. sector, then we require roughly 23% of the stocks in the screen - i.e. 6 names - to be from the I.T. sector.")
There are indeed six names in Information Technology (using the UBS stock classifications) that make the list of those likely to see environmental influence from their institutional shareholders: Amphenol (NYSE:APH), Cadence Design Systems (NASDAQ:CDNS), Corning (NYSE:GLW), Microchip Technology (NASDAQ:MCHP), TE Connectivity (NYSE:TEL), and Texas Instruments (NASDAQ:TXN).
Three other sectors have three names each on the list. In Financials, there's CBOE Global Markets (BATS:CBOE), Schroders (OTCPK:SHNWF) and Tryg (OTC:TGVSY). In Consumer Discretionary, there's Chipotle Mexican Grill (NYSE:CMG), Hilton Worldwide (NYSE:HLT) and Yum Brands (NYSE:YUM). In Healthcare, it's Danaher (NYSE:DHR), Medtronic (NYSE:MDT) and Stryker (NYSE:SYK).
Consumer Staples is represented by two names: Estee Lauder (NYSE:EL) and Procter & Gamble (NYSE:PG). There are two stocks in Industrials represented: Kingspan Group (OTCPK:KGSPY) and Pentair (NYSE:PNR). And Communications Services is represented by two names: Cellnex Telecom (OTCPK:CLLNY) and Telenor (OTCPK:TELNY).
And four sectors have one representative on the list each: In Energy, it's Hess (NYSE:HES). In Materials, it's RPM International (NYSE:RPM). In Real Estate, that would be Mitsubishi Estate (OTCPK:MITEY). And in Utilities, it's Origin Energy (OTCPK:OGFGY). | 2021-11-19T00:00:00 | 2021-11-19T00:00:00 | 195.240005 | 193.369995 | 188.479996 | 187.100006 | 192.490005 | 194.449997 | 194.910004 | 198.229996 | 199.380005 | 201.289993 | 199.070007 | 200.199997 | 196.979996 | 187.100006 | 187.869995 | 187.479996 | 187.470001 | 189.339996 | 189.190002 | 191.110001 | 193.399994 | 192.360001 | 190.789993 | 187.020004 | 188.600006 | 190.080002 | 189.229996 | 188.520004 | 189.570007 | 193.470001 | 195.160004 | 192.5 | 192.639999 | 193.600006 | 188.259995 | 194.380005 | 192.369995 | 191.759995 | 193.580002 | 193.380005 | 194.610001 | 199.029999 | 196.389999 | 193.399994 | 196 | 193.240005 |
2021-11-29 | TXN | Samsung is said to be considering potential M&A candidates | Samsung Electronics (OTC:SSNLF) is said to be looking at potential candidates in the automotive semiconductor segment after its recent investment in a new fab.
Samsung, as has been reported previously, has looked at a potential purchase of NXP Semiconductors (NASDAQ:NXPI) several times since 2016, though the companies haven't been able to come to terms on a price, according to a DongA report. NXPI's "ransom price" is estimated to be between 60 trillion won and 80 trillion won, though antitrust would still be a huge issue if an agreement could be reached.
Other potential targets for Samsung could include Texas Instruments (NASDAQ:TXN), Japan's Renesas Electronics (OTCPK:RNECF) and STMicroelectronics (NYSE:STM), according to DongA.
Recall late August, Samsung unlikely to target NXP Semiconductors for acquisition.
The Korea Times also reported in early February that Samsung wanted to acquire an auto chip company with NXP, Infineon (OTCQX:IFNNY), Renesas (OTCPK:RNECF) and Texas Instruments (TXN) among potential targets. | 2021-11-30T00:00:00 | 2021-11-30T00:00:00 | 194.910004 | 198.229996 | 199.380005 | 201.289993 | 199.070007 | 200.199997 | 196.979996 | 187.100006 | 187.869995 | 187.479996 | 187.470001 | 189.339996 | 189.190002 | 191.110001 | 193.399994 | 192.360001 | 190.789993 | 187.020004 | 188.600006 | 190.080002 | 189.229996 | 188.520004 | 189.570007 | 193.470001 | 195.160004 | 192.5 | 192.639999 | 193.600006 | 188.259995 | 194.380005 | 192.369995 | 191.759995 | 193.580002 | 193.380005 | 194.610001 | 199.029999 | 196.389999 | 193.399994 | 196 | 193.240005 | 190.270004 | 193.440002 | 188.240005 | 186.300003 | 184.240005 | 186.369995 |
2021-12-17 | TXN | Semiconductor shortage is getting better, but recovery is uneven, Jefferies says | Aguus/E+ via Getty Images
Research firm Jefferies notes that the semiconductor shortage, which has impacted the global economy, is starting to get better, even if the recovery is uneven.
Analyst Mark Lipacis notes that contracts are not being canceled or pushed out, after speaking with a U.S. distributor and a U.K. component broker. Tier 1 original equipment manufacturers are getting the components they need - and in some cases, extra - but Tier 2 and Tier 3 OEMs are not, which is causing the Tier 1 OEMs to sell their excess.
In addition, pricing and lead-times are "stable-to-higher; and while power management integrated circuits are tight, microcontrollers are in better supply. Lastly, the Chinese New Year holiday in February could add to tight supplies, Lipacis added.
Lipacis noted that Xilinx (NASDAQ:XLNX), Analog Devices (NASDAQ:ADI) and Maxim Integrated Products have already raised prices multiple times in 2021 and Xilinx, along with Murata did so from October on.
Additionally, semiconductor companies are having clients sign non-cancellable, non-returnable contracts, "locking in higher prices over time," he added.
Lead times are still long and remaining stable, Lipacis explained, citing evidence from U.K.-based distributor for Infineon Technologies parts that quoted a lead time of 99 weeks.
Shortages relating to STMicroelectronics (NYSE:STM) and Texas Instruments (NASDAQ:TXN) were viewed as "pain points" earlier this year, but those delays have subsided, though broad-based demand for power management integrated circuits continues. Additionally, Analog Devices (ADI) and Infineon could start to see shortages, while supplies from Xilinx (XLNX) "remains in very short supply."
Jefferies' Lipacis also noted that Xilinx (XLNX) shipments to China are still "limited," citing additional customs clearance delays.
And while December is usually a "seasonally strong" period, as customers buy for January builds and the Chinese New Year break, the firm does not expect supply and demand to come into balance in 2022, but more likely 2023.
"Our sense is that over the past 18-months, consensus has believed S/D equilibrium has always been '6 months out,' and that is where we believe consensus is today, Lipacis added. "We expect continued tightness, good visibility, high backlogs and higher prices and profitability for semiconductor companies for the next four quarters."
On Friday, Chinese antitrust regulator was said to still be market testing remedies proposed by Advanced Micro Devices (NASDAQ:AMD) for its planned purchase of Xilinx (XLNX). | 2021-12-18T00:00:00 | 2021-12-20T00:00:00 | 193.399994 | 192.360001 | 190.789993 | 187.020004 | 188.600006 | 190.080002 | 189.229996 | 188.520004 | 189.570007 | 193.470001 | 195.160004 | 192.5 | 192.639999 | 193.600006 | 188.259995 | 194.380005 | 192.369995 | 191.759995 | 193.580002 | 193.380005 | 194.610001 | 199.029999 | 196.389999 | 193.399994 | 196 | 193.240005 | 190.270004 | 193.440002 | 188.240005 | 186.300003 | 184.240005 | 186.369995 | 186.929993 | 187.399994 | 191.839996 | 191.100006 | 190.809998 | 189.410004 | 188.470001 | 190.600006 | 190.800003 | 186.820007 | 186.759995 | 179.440002 | 182.960007 | 184.639999 |
2018-12-03 | VRSK | Verisk to acquire Rulebook for $87M | Verisk (NASDAQ:VRSK) to acquire Rulebook for $87M in cash, funded through cash on hand and existing bank facilities. "The acquisition will expand Verisk's existing offerings to the specialty insurance market by adding Rulebook's proprietary pricing and management information engines to Sequel's specialized software suite," said Ian Summers, CEO of Sequel. The transaction is expected to be accretive to 2019 adjusted EPS.
The company expects the acquisition to generate an attractive return in excess of Verisk's cost of capital.
The transaction is expected to close in 4Q18. | 2018-12-04T00:00:00 | 2018-12-04T00:00:00 | 116.690002 | 115.449997 | 113.389999 | 114.910004 | 113.839996 | 114.489998 | 116.910004 | 119.839996 | 115.639999 | 115.550003 | 116.919998 | 118.879997 | 120.949997 | 122.720001 | 123.379997 | 122.25 | 120.93 | 121.089996 | 123.879997 | 123.830002 | 122.5 | 120.269997 | 120.139999 | 120.059998 | 120.949997 | 121.690002 | 123.800003 | 123.830002 | 123.32 | 124.690002 | 120.389999 | 118 | 114.449997 | 114.379997 | 114.68 | 116.18 | 115.459999 | 113.830002 | 111.050003 | 111.150002 | 110.230003 | 108.470001 | 106.010002 | 103.040001 | 107.489998 | 109.169998 |
2019-02-19 | VRSK | Verisk Analytics declares $0.25 dividend | Verisk Analytics (NASDAQ:VRSK) declares $0.25/share quarterly dividend.
Forward yield 0.8%
Payable March 29; for shareholders of record March 15; ex-div March 14.
See VRSK Dividend Scorecard, Yield Chart, & Dividend Growth. | 2019-02-20T00:00:00 | 2019-02-20T00:00:00 | 110.089996 | 111.07 | 111.489998 | 112.639999 | 112.010002 | 111.18 | 112.620003 | 112.980003 | 113.160004 | 115.699997 | 116.300003 | 116.809998 | 116.150002 | 117.239998 | 116.230003 | 116.230003 | 117.5 | 117.410004 | 118.769997 | 119.349998 | 119.93 | 119.639999 | 120.25 | 121.980003 | 122.089996 | 123.699997 | 123.919998 | 123.839996 | 125.379997 | 124.43 | 122.830002 | 124.529999 | 125.029999 | 125.230003 | 125.349998 | 125.769997 | 126.43 | 126.709999 | 125.910004 | 126.470001 | 126.650002 | 126.580002 | 126.010002 | 127.309998 | 128.259995 | 128.759995 |
2019-02-19 | VRSK | Verisk Analytics misses by $0.03, beats on revenue | Verisk Analytics (NASDAQ:VRSK): Q4 Non-GAAP EPS of $1.04 misses by $0.03; GAAP EPS of $0.87 misses by $0.07.
Revenue of $613.9M (+7.6% Y/Y) beats by $0.79M.
Press Release | 2019-02-20T00:00:00 | 2019-02-20T00:00:00 | 110.089996 | 111.07 | 111.489998 | 112.639999 | 112.010002 | 111.18 | 112.620003 | 112.980003 | 113.160004 | 115.699997 | 116.300003 | 116.809998 | 116.150002 | 117.239998 | 116.230003 | 116.230003 | 117.5 | 117.410004 | 118.769997 | 119.349998 | 119.93 | 119.639999 | 120.25 | 121.980003 | 122.089996 | 123.699997 | 123.919998 | 123.839996 | 125.379997 | 124.43 | 122.830002 | 124.529999 | 125.029999 | 125.230003 | 125.349998 | 125.769997 | 126.43 | 126.709999 | 125.910004 | 126.470001 | 126.650002 | 126.580002 | 126.010002 | 127.309998 | 128.259995 | 128.759995 |
2019-02-25 | VRSK | Verisk acquires SAP's CaaS business | Verisk (NASDAQ:VRSK) will acquire SAP's (SAP) Content as a Service Business, which includes the Environmental Health and Safety Regulatory Content and Environmental Health and Safety Regulatory Documentation teams and assets. Financial terms weren't disclosed.
The acquisition is part of a new strategic partnership between Verisk and SAP to codevelop next-gen product compliance solutions. | 2019-02-26T00:00:00 | 2019-02-26T00:00:00 | 112.010002 | 111.18 | 112.620003 | 112.980003 | 113.160004 | 115.699997 | 116.300003 | 116.809998 | 116.150002 | 117.239998 | 116.230003 | 116.230003 | 117.5 | 117.410004 | 118.769997 | 119.349998 | 119.93 | 119.639999 | 120.25 | 121.980003 | 122.089996 | 123.699997 | 123.919998 | 123.839996 | 125.379997 | 124.43 | 122.830002 | 124.529999 | 125.029999 | 125.230003 | 125.349998 | 125.769997 | 126.43 | 126.709999 | 125.910004 | 126.470001 | 126.650002 | 126.580002 | 126.010002 | 127.309998 | 128.259995 | 128.759995 | 128.130005 | 128.429993 | 128.690002 | 128.869995 |
2019-04-29 | VRSK | Verisk Analytics Q1 2019 Earnings Preview | Verisk Analytics (NASDAQ:VRSK) is scheduled to announce Q1 earnings results on Tuesday, April 30th, after market close.
The consensus EPS Estimate is $1.03 (+9.6% Y/Y) and the consensus Revenue Estimate is $618.14M (+6.4% Y/Y).
Over the last 2 years, vrsk has beaten EPS estimates 63% of the time and has beaten revenue estimates 88% of the time.
Over the last 3 months, EPS estimates have seen 3 upward revisions and 11 downward. Revenue estimates have seen 7 upward revisions and 4 downward. | 2019-04-30T00:00:00 | 2019-04-30T00:00:00 | 128.690002 | 128.869995 | 128.289993 | 129.759995 | 128.889999 | 129.789993 | 131.710007 | 131.809998 | 132.809998 | 133 | 134.240005 | 134.910004 | 136.309998 | 135.710007 | 135.520004 | 135.380005 | 135.149994 | 134.759995 | 135.789993 | 136.979996 | 137.850006 | 136.539993 | 136.940002 | 137.990005 | 137.639999 | 139.470001 | 139.5 | 138.789993 | 139.869995 | 140.369995 | 141.139999 | 139.880005 | 140.350006 | 143.210007 | 143.389999 | 140.5 | 140.559998 | 140.5 | 140.679993 | 138.479996 | 139.320007 | 140.779999 | 142.130005 | 141.970001 | 141.300003 | 143.190002 |
2019-04-30 | VRSK | Verisk Analytics declares $0.25 dividend | Verisk Analytics (NASDAQ:VRSK) declares $0.25/share quarterly dividend, in line with previous.
Forward yield 0.71%
Payable June 28; for shareholders of record June 14; ex-div June 13.
See VRSK Dividend Scorecard, Yield Chart, & Dividend Growth. | 2019-05-01T00:00:00 | 2019-05-01T00:00:00 | 128.869995 | 128.289993 | 129.759995 | 128.889999 | 129.789993 | 131.710007 | 131.809998 | 132.809998 | 133 | 134.240005 | 134.910004 | 136.309998 | 135.710007 | 135.520004 | 135.380005 | 135.149994 | 134.759995 | 135.789993 | 136.979996 | 137.850006 | 136.539993 | 136.940002 | 137.990005 | 137.639999 | 139.470001 | 139.5 | 138.789993 | 139.869995 | 140.369995 | 141.139999 | 139.880005 | 140.350006 | 143.210007 | 143.389999 | 140.5 | 140.559998 | 140.5 | 140.679993 | 138.479996 | 139.320007 | 140.779999 | 142.130005 | 141.970001 | 141.300003 | 143.190002 | 143.860001 |
2019-04-30 | VRSK | Verisk Analytics EPS in-line, beats on revenue | Verisk Analytics (NASDAQ:VRSK): Q1 Non-GAAP EPS of $1.03 in-line; GAAP EPS of $0.81.
Revenue of $625M (+7.5% Y/Y) beats by $6.86M.
Press Release | 2019-05-01T00:00:00 | 2019-05-01T00:00:00 | 128.869995 | 128.289993 | 129.759995 | 128.889999 | 129.789993 | 131.710007 | 131.809998 | 132.809998 | 133 | 134.240005 | 134.910004 | 136.309998 | 135.710007 | 135.520004 | 135.380005 | 135.149994 | 134.759995 | 135.789993 | 136.979996 | 137.850006 | 136.539993 | 136.940002 | 137.990005 | 137.639999 | 139.470001 | 139.5 | 138.789993 | 139.869995 | 140.369995 | 141.139999 | 139.880005 | 140.350006 | 143.210007 | 143.389999 | 140.5 | 140.559998 | 140.5 | 140.679993 | 138.479996 | 139.320007 | 140.779999 | 142.130005 | 141.970001 | 141.300003 | 143.190002 | 143.860001 |
2019-07-16 | VRSK | Appriss acquires Verisk's retail loss prevention solutions | Appriss announced the acquisition of the retail loss prevention solutions from Verisk (NASDAQ:VRSK) for undisclosed terms.
Verisk's retail loss prevention portfolio has a broad and global client base of more than 70 retailers.
The acquisition will be integrated into Apprissâ retail business unit, Appriss Retail. | 2019-07-17T00:00:00 | 2019-07-17T00:00:00 | 141.839996 | 144.350006 | 144.740005 | 146.470001 | 146.869995 | 145.550003 | 145.970001 | 145.339996 | 145.830002 | 145.029999 | 144.509995 | 145.389999 | 146.009995 | 145.070007 | 145.410004 | 144.330002 | 142.649994 | 144.619995 | 146.460007 | 147.630005 | 148.589996 | 150.669998 | 148.869995 | 148.869995 | 149.619995 | 150.009995 | 151.190002 | 151.830002 | 152.25 | 151.770004 | 151.490005 | 152.960007 | 151.429993 | 150.509995 | 150.809998 | 150.770004 | 150.220001 | 152.509995 | 152.570007 | 152.039993 | 151.720001 | 152.919998 | 153.229996 | 149.410004 | 152.339996 | 153.899994 |
2019-07-29 | VRSK | Verisk Analytics Q2 2019 Earnings Preview | Verisk Analytics (NASDAQ:VRSK) is scheduled to announce Q2 earnings results on Tuesday, July 30th, after market close.
The consensus EPS Estimate is $1.10 (+3.8% Y/Y) and the consensus Revenue Estimate is $642.61M (+6.9% Y/Y).
Over the last 2 years, vrsk has beaten EPS estimates 63% of the time and has beaten revenue estimates 100% of the time.
Over the last 3 months, EPS estimates have seen 3 upward revisions and 11 downward. Revenue estimates have seen 7 upward revisions and 4 downward. | 2019-07-30T00:00:00 | 2019-07-30T00:00:00 | 145.029999 | 144.509995 | 145.389999 | 146.009995 | 145.070007 | 145.410004 | 144.330002 | 142.649994 | 144.619995 | 146.460007 | 147.630005 | 148.589996 | 150.669998 | 148.869995 | 148.869995 | 149.619995 | 150.009995 | 151.190002 | 151.830002 | 152.25 | 151.770004 | 151.490005 | 152.960007 | 151.429993 | 150.509995 | 150.809998 | 150.770004 | 150.220001 | 152.509995 | 152.570007 | 152.039993 | 151.720001 | 152.919998 | 153.229996 | 149.410004 | 152.339996 | 153.899994 | 156.169998 | 156.460007 | 155.460007 | 155.919998 | 153.089996 | 155.169998 | 156.880005 | 158.289993 | 158.210007 |
2019-07-30 | VRSK | Verisk Analytics declares $0.25 dividend | Verisk Analytics (NASDAQ:VRSK) declares $0.25/share quarterly dividend, in line with previous.
Forward yield 0.66%
Payable Sept. 30; for shareholders of record Sept. 13; ex-div Sept. 12.
See VRSK Dividend Scorecard, Yield Chart, & Dividend Growth. | 2019-07-31T00:00:00 | 2019-07-31T00:00:00 | 144.509995 | 145.389999 | 146.009995 | 145.070007 | 145.410004 | 144.330002 | 142.649994 | 144.619995 | 146.460007 | 147.630005 | 148.589996 | 150.669998 | 148.869995 | 148.869995 | 149.619995 | 150.009995 | 151.190002 | 151.830002 | 152.25 | 151.770004 | 151.490005 | 152.960007 | 151.429993 | 150.509995 | 150.809998 | 150.770004 | 150.220001 | 152.509995 | 152.570007 | 152.039993 | 151.720001 | 152.919998 | 153.229996 | 149.410004 | 152.339996 | 153.899994 | 156.169998 | 156.460007 | 155.460007 | 155.919998 | 153.089996 | 155.169998 | 156.880005 | 158.289993 | 158.210007 | 158.679993 |
2019-07-30 | VRSK | Verisk Analytics EPS in-line, beats on revenue | Verisk Analytics (NASDAQ:VRSK): Q2 Non-GAAP EPS of $1.10 in-line; GAAP EPS of $0.90 misses by $0.05.
Revenue of $652.6M (+8.5% Y/Y) beats by $9.99M.
Shares -0.18%.
Press Release | 2019-07-31T00:00:00 | 2019-07-31T00:00:00 | 144.509995 | 145.389999 | 146.009995 | 145.070007 | 145.410004 | 144.330002 | 142.649994 | 144.619995 | 146.460007 | 147.630005 | 148.589996 | 150.669998 | 148.869995 | 148.869995 | 149.619995 | 150.009995 | 151.190002 | 151.830002 | 152.25 | 151.770004 | 151.490005 | 152.960007 | 151.429993 | 150.509995 | 150.809998 | 150.770004 | 150.220001 | 152.509995 | 152.570007 | 152.039993 | 151.720001 | 152.919998 | 153.229996 | 149.410004 | 152.339996 | 153.899994 | 156.169998 | 156.460007 | 155.460007 | 155.919998 | 153.089996 | 155.169998 | 156.880005 | 158.289993 | 158.210007 | 158.679993 |
2019-08-26 | VRSK | Verisk to acquire Genscape for $364M | Verisk (NASDAQ:VRSK) to acquire Genscape, wholly owned by DMGT for $364M in cash.
Genscape will become part of Wood Mackenzie, a Verisk business, and will enhance Wood Mackenzieâs existing sector intelligence in energy data and analytics.
âThe agreement also increases the growth potential for our business,â added Anderson. âThere is limited overlap between Wood Mackenzieâs customer base and the 1,300 customers that Genscape serves. This creates a significant opportunity to use our existing solutions for cross-sell to customers of the two businesses and particularly to integrate our proprietary data sets for new analytical insights.â | 2019-08-27T00:00:00 | 2019-08-27T00:00:00 | 151.770004 | 151.490005 | 152.960007 | 151.429993 | 150.509995 | 150.809998 | 150.770004 | 150.220001 | 152.509995 | 152.570007 | 152.039993 | 151.720001 | 152.919998 | 153.229996 | 149.410004 | 152.339996 | 153.899994 | 156.169998 | 156.460007 | 155.460007 | 155.919998 | 153.089996 | 155.169998 | 156.880005 | 158.289993 | 158.210007 | 158.679993 | 158.050003 | 154.610001 | 157.360001 | 158.910004 | 159.779999 | 160.779999 | 161.539993 | 161.740005 | 162.839996 | 163.539993 | 164.580002 | 160.199997 | 155.119995 | 155.110001 | 157.429993 | 155.759995 | 156.520004 | 158.649994 | 159.330002 |
2019-08-26 | VRSK | Verisk to buy Genscape in $364M deal | Verisk (NASDAQ:VRSK) agrees to acquire real-time data and intelligence provider Genscape from Daily Mail and General Trust for $364M.
VRSK says Genscape will become part its Wood Mackenzie business, enhancing its sector intelligence in energy data and analytics.
The company says there is limited overlap between current customer bases for Wood Mackenzie and Genscape, so the acquisition creates an opportunity to use existing solutions for cross-sell to customers of the two businesses. | 2019-08-27T00:00:00 | 2019-08-27T00:00:00 | 151.770004 | 151.490005 | 152.960007 | 151.429993 | 150.509995 | 150.809998 | 150.770004 | 150.220001 | 152.509995 | 152.570007 | 152.039993 | 151.720001 | 152.919998 | 153.229996 | 149.410004 | 152.339996 | 153.899994 | 156.169998 | 156.460007 | 155.460007 | 155.919998 | 153.089996 | 155.169998 | 156.880005 | 158.289993 | 158.210007 | 158.679993 | 158.050003 | 154.610001 | 157.360001 | 158.910004 | 159.779999 | 160.779999 | 161.539993 | 161.740005 | 162.839996 | 163.539993 | 164.580002 | 160.199997 | 155.119995 | 155.110001 | 157.429993 | 155.759995 | 156.520004 | 158.649994 | 159.330002 |
2019-10-02 | VRSK | Verisk to acquire property-data firm BuildFax | Verisk Analytics (NASDAQ:VRSK) has a definitive deal to acquire Austin-based BuildFax, a provider of property condition and history data. It will add the company to its ISO business to enhance existing property analytics. BuildFax's majority shareholder is Daily Mail and General Trust (OTCPK:DMTGY). Verisk is up 0.4% after hours. | 2019-10-03T00:00:00 | 2019-10-03T00:00:00 | 158.679993 | 158.050003 | 154.610001 | 157.360001 | 158.910004 | 159.779999 | 160.779999 | 161.539993 | 161.740005 | 162.839996 | 163.539993 | 164.580002 | 160.199997 | 155.119995 | 155.110001 | 157.429993 | 155.759995 | 156.520004 | 158.649994 | 159.330002 | 158.699997 | 158.419998 | 157.320007 | 157.470001 | 157.800003 | 159.289993 | 155.589996 | 158.139999 | 156.449997 | 153.330002 | 154.300003 | 157.539993 | 157.169998 | 154.899994 | 157.089996 | 157.860001 | 157.110001 | 155.380005 | 156.080002 | 155.589996 | 155.220001 | 154.419998 | 153.470001 | 151.020004 | 148.630005 | 149.75 |
2019-10-28 | VRSK | Verisk Analytics Q3 2019 Earnings Preview | Verisk Analytics (NASDAQ:VRSK) is scheduled to announce Q3 earnings results on Tuesday, October 29th, after market close.
The consensus EPS Estimate is $1.13 (+4.6% Y/Y) and the consensus Revenue Estimate is $650.34M (+8.6% Y/Y).
Over the last 2 years, VRSKÂ has beaten EPS estimates 50% of the time and has beaten revenue estimates 100% of the time.
Over the last 3 months, EPS estimates have seen 8 upward revisions and 5 downward. Revenue estimates have seen 7 upward revisions and 4 downward. | 2019-10-29T00:00:00 | 2019-10-29T00:00:00 | 158.649994 | 159.330002 | 158.699997 | 158.419998 | 157.320007 | 157.470001 | 157.800003 | 159.289993 | 155.589996 | 158.139999 | 156.449997 | 153.330002 | 154.300003 | 157.539993 | 157.169998 | 154.899994 | 157.089996 | 157.860001 | 157.110001 | 155.380005 | 156.080002 | 155.589996 | 155.220001 | 154.419998 | 153.470001 | 151.020004 | 148.630005 | 149.75 | 148.919998 | 148.550003 | 150.119995 | 147.919998 | 144.699997 | 145.360001 | 140.300003 | 138.779999 | 140.779999 | 139.800003 | 136.75 | 137.380005 | 138.089996 | 139.779999 | 141.029999 | 141.179993 | 142.100006 | 143.979996 |
2019-10-29 | VRSK | Verisk Analytics declares $0.25 dividend | Verisk Analytics (NASDAQ:VRSK) declares $0.25/share quarterly dividend, in line with previous.
Forward yield 0.67%
Payable Dec. 31; for shareholders of record Dec. 13; ex-div Dec. 12.
See VRSK Dividend Scorecard, Yield Chart, & Dividend Growth. | 2019-10-30T00:00:00 | 2019-10-30T00:00:00 | 159.330002 | 158.699997 | 158.419998 | 157.320007 | 157.470001 | 157.800003 | 159.289993 | 155.589996 | 158.139999 | 156.449997 | 153.330002 | 154.300003 | 157.539993 | 157.169998 | 154.899994 | 157.089996 | 157.860001 | 157.110001 | 155.380005 | 156.080002 | 155.589996 | 155.220001 | 154.419998 | 153.470001 | 151.020004 | 148.630005 | 149.75 | 148.919998 | 148.550003 | 150.119995 | 147.919998 | 144.699997 | 145.360001 | 140.300003 | 138.779999 | 140.779999 | 139.800003 | 136.75 | 137.380005 | 138.089996 | 139.779999 | 141.029999 | 141.179993 | 142.100006 | 143.979996 | 144.339996 |
2019-10-29 | VRSK | Verisk Analytics EPS misses by $0.01, beats on revenue | Verisk Analytics (NASDAQ:VRSK): Q3 Non-GAAP EPS of $1.12 misses by $0.01; GAAP EPS of $0.20 misses by $0.78.
Revenue of $652.7M (+9.0% Y/Y) beats by $2.36M.
Shares -1.38%.
Press Release | 2019-10-30T00:00:00 | 2019-10-30T00:00:00 | 159.330002 | 158.699997 | 158.419998 | 157.320007 | 157.470001 | 157.800003 | 159.289993 | 155.589996 | 158.139999 | 156.449997 | 153.330002 | 154.300003 | 157.539993 | 157.169998 | 154.899994 | 157.089996 | 157.860001 | 157.110001 | 155.380005 | 156.080002 | 155.589996 | 155.220001 | 154.419998 | 153.470001 | 151.020004 | 148.630005 | 149.75 | 148.919998 | 148.550003 | 150.119995 | 147.919998 | 144.699997 | 145.360001 | 140.300003 | 138.779999 | 140.779999 | 139.800003 | 136.75 | 137.380005 | 138.089996 | 139.779999 | 141.029999 | 141.179993 | 142.100006 | 143.979996 | 144.339996 |
2019-10-31 | VRSK | Verisk -1.8% as Evercore hits sidelines | Evercore downgrades Verisk Analytics (NASDAQ:VRSK)Â from Outperform to In-Line and sets a $154 price target, a 6% upside.
Earlier this week, Verisk reported Q3 results that beat revenue estimates but missed on EPS.
Verisk shares are down 1.8% to $145.24. The company has a Hold average Sell Side rating. | 2019-11-01T00:00:00 | 2019-11-01T00:00:00 | 158.419998 | 157.320007 | 157.470001 | 157.800003 | 159.289993 | 155.589996 | 158.139999 | 156.449997 | 153.330002 | 154.300003 | 157.539993 | 157.169998 | 154.899994 | 157.089996 | 157.860001 | 157.110001 | 155.380005 | 156.080002 | 155.589996 | 155.220001 | 154.419998 | 153.470001 | 151.020004 | 148.630005 | 149.75 | 148.919998 | 148.550003 | 150.119995 | 147.919998 | 144.699997 | 145.360001 | 140.300003 | 138.779999 | 140.779999 | 139.800003 | 136.75 | 137.380005 | 138.089996 | 139.779999 | 141.029999 | 141.179993 | 142.100006 | 143.979996 | 144.339996 | 144.449997 | 145.979996 |
2019-11-22 | VRSK | Verisk gets bullish start on FCF potential | Jefferies starts Verisk Analytics (NASDAQ:VRSK) with a Buy rating as part of a slate of initiations of industrial service names.
The firm thinks the Street is too low on medium-term FCF estimates for Verisk.
Jefferies also notes that its FY20 EBITDA/EPSÂ estimates for the company are ahead of consensus.
Verisk shares are up 0.4% to $145.01.
VRSK has a Bullish average SAÂ Author's rating. | 2019-11-23T00:00:00 | 2019-11-25T00:00:00 | 155.380005 | 156.080002 | 155.589996 | 155.220001 | 154.419998 | 153.470001 | 151.020004 | 148.630005 | 149.75 | 148.919998 | 148.550003 | 150.119995 | 147.919998 | 144.699997 | 145.360001 | 140.300003 | 138.779999 | 140.779999 | 139.800003 | 136.75 | 137.380005 | 138.089996 | 139.779999 | 141.029999 | 141.179993 | 142.100006 | 143.979996 | 144.339996 | 144.449997 | 145.979996 | 145.410004 | 147.779999 | 148.509995 | 147.479996 | 146.110001 | 144.970001 | 145.410004 | 146.020004 | 146.820007 | 147.470001 | 147.279999 | 146.809998 | 147.410004 | 149.190002 | 149.690002 | 150.809998 |
2019-12-04 | VRSK | Verisk acquires FAST for $194M | Verisk (NASDAQ:VRSK)Â signs a definitive agreement to acquire the software company, which offers a policy administration system that helps insurers accelerate underwriting and claims.
Verisk will pay $193.5M for FAST.
VRSKÂ shares are up 0.5% to $145.65. | 2019-12-05T00:00:00 | 2019-12-05T00:00:00 | 148.630005 | 149.75 | 148.919998 | 148.550003 | 150.119995 | 147.919998 | 144.699997 | 145.360001 | 140.300003 | 138.779999 | 140.779999 | 139.800003 | 136.75 | 137.380005 | 138.089996 | 139.779999 | 141.029999 | 141.179993 | 142.100006 | 143.979996 | 144.339996 | 144.449997 | 145.979996 | 145.410004 | 147.779999 | 148.509995 | 147.479996 | 146.110001 | 144.970001 | 145.410004 | 146.020004 | 146.820007 | 147.470001 | 147.279999 | 146.809998 | 147.410004 | 149.190002 | 149.690002 | 150.809998 | 148.839996 | 148.190002 | 149.679993 | 149.550003 | 149.169998 | 148.830002 | 148.580002 |
2020-01-07 | VRSK | Morgan Stanley leaves the Verisk sidelines | Verisk Analytics (NASDAQ:VRSK) is upgraded from Equal Weight to Overweight at Morgan Stanley. The company has a Bullish average Sell Side rating.
The firm raises the price target from $162 to $176.
Verisk is expected to report earnings on February 19. The Street sees $670.4M in revenue and $1.12 EPS.
VRSK shares are up 0.7% to $154.02. | 2020-01-08T00:00:00 | 2020-01-08T00:00:00 | 145.979996 | 145.410004 | 147.779999 | 148.509995 | 147.479996 | 146.110001 | 144.970001 | 145.410004 | 146.020004 | 146.820007 | 147.470001 | 147.279999 | 146.809998 | 147.410004 | 149.190002 | 149.690002 | 150.809998 | 148.839996 | 148.190002 | 149.679993 | 149.550003 | 149.169998 | 148.830002 | 148.580002 | 147.550003 | 149.339996 | 151.119995 | 152.589996 | 152.940002 | 154.220001 | 155.639999 | 157.139999 | 157.320007 | 158.020004 | 156.880005 | 158.649994 | 160.559998 | 160.550003 | 161.300003 | 163.589996 | 165.100006 | 165.300003 | 163.949997 | 164.809998 | 164.179993 | 164.710007 |
2020-01-22 | VRSK | Verisk to sell image survey expertise and data assets to Vexcel Imaging | Vexcel to acquire the imagery sourcing group from Veriskâs (NASDAQ:VRSK) Geomni business.
The acquisition will combine Geomniâs imagery surveying and content-related teams and assets into Vexcel.
VRSK will be a minority owner in Vexcel with full access to all aerial imagery libraries.
The transaction is expected to close the Q120, subject to the completion of customary closing conditions.
Press Release | 2020-01-23T00:00:00 | 2020-01-23T00:00:00 | 147.470001 | 147.279999 | 146.809998 | 147.410004 | 149.190002 | 149.690002 | 150.809998 | 148.839996 | 148.190002 | 149.679993 | 149.550003 | 149.169998 | 148.830002 | 148.580002 | 147.550003 | 149.339996 | 151.119995 | 152.589996 | 152.940002 | 154.220001 | 155.639999 | 157.139999 | 157.320007 | 158.020004 | 156.880005 | 158.649994 | 160.559998 | 160.550003 | 161.300003 | 163.589996 | 165.100006 | 165.300003 | 163.949997 | 164.809998 | 164.179993 | 164.710007 | 162.470001 | 165.220001 | 168.130005 | 168.559998 | 168.949997 | 169.119995 | 169.940002 | 167.889999 | 169.279999 | 170.669998 |
2020-02-17 | VRSK | Verisk Analytics Q4 2019 Earnings Preview | Verisk Analytics (NASDAQ:VRSK) is scheduled to announce Q4 earnings results on Tuesday, February 18th, after market close.
The consensus EPS Estimate is $1.12 (+7.7% Y/Y) and the consensus Revenue Estimate is $670.5M (+9.2% Y/Y).
Over the last 2 years, VRSK has beaten EPS estimates 38% of the time and has beaten revenue estimates 100% of the time.
Over the last 3 months, EPS estimates have seen 2 upward revisions and 0 downward. Revenue estimates have seen 2 upward revisions and 0 downward. | 2020-02-18T00:00:00 | 2020-02-18T00:00:00 | 152.589996 | 152.940002 | 154.220001 | 155.639999 | 157.139999 | 157.320007 | 158.020004 | 156.880005 | 158.649994 | 160.559998 | 160.550003 | 161.300003 | 163.589996 | 165.100006 | 165.300003 | 163.949997 | 164.809998 | 164.179993 | 164.710007 | 162.470001 | 165.220001 | 168.130005 | 168.559998 | 168.949997 | 169.119995 | 169.940002 | 167.889999 | 169.279999 | 170.669998 | 171.380005 | 171.559998 | 169.740005 | 169.389999 | 168.690002 | 167.580002 | 162.820007 | 163.529999 | 155.789993 | 155.110001 | 163.130005 | 160.399994 | 169.179993 | 164.970001 | 163.369995 | 147.919998 | 156.740005 |
2020-02-18 | VRSK | Verisk Analytics EPS beats by $0.01, beats on revenue | Verisk Analytics (NASDAQ:VRSK): Q4 Non-GAAP EPS of $1.13 beats by $0.01; GAAP EPS of $0.80 misses by $0.17.
Revenue of $676.8M (+10.2% Y/Y) beats by $6.3M.
Shares -0.39%.
Press Release | 2020-02-19T00:00:00 | 2020-02-19T00:00:00 | 152.940002 | 154.220001 | 155.639999 | 157.139999 | 157.320007 | 158.020004 | 156.880005 | 158.649994 | 160.559998 | 160.550003 | 161.300003 | 163.589996 | 165.100006 | 165.300003 | 163.949997 | 164.809998 | 164.179993 | 164.710007 | 162.470001 | 165.220001 | 168.130005 | 168.559998 | 168.949997 | 169.119995 | 169.940002 | 167.889999 | 169.279999 | 170.669998 | 171.380005 | 171.559998 | 169.740005 | 169.389999 | 168.690002 | 167.580002 | 162.820007 | 163.529999 | 155.789993 | 155.110001 | 163.130005 | 160.399994 | 169.179993 | 164.970001 | 163.369995 | 147.919998 | 156.740005 | 151.679993 |
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