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ON Semiconductor Corporation latest news:
U.S. clears Chinese acquisition in rare move
Beijing-based Naura Microelectronics Equipment Co Ltd has completed a deal to buy U.S. semiconductor manufacturing equipment company Akrion Systems LLC, in a rare instance of the U.S. government approving such an acquisition, attorneys for Naura said on Wednesday.
Nvidia stock rises after analysts praise automotive opportunities
Nvidia Corp. shares are up 2% in Tuesday morning trading after a pair of analysts expressed their optimism about the company. "Despite our view that 2018 will be a year of growing pains for semis, Nvidia's strength in AI today, and autonomous driving in the future, make it the king of this jungle in our view," wrote SunTrust Robinson Humphrey analyst William Stein. He's impressed with the company's recently announced partnerships with companies in the automotive space, including Volkswagen and Uber. "While autonomous driving technology was the hottest topic at the [CES] event, we also noticed that much of the discussion centered around co-pilot technology, including the Nvidia-powered Volkswagen ID Buzz," Stein wrote. He also likes the in-car infotainment system that Nvidia designed for Mercedes, as well as the company's discussion of its first Drive Xavier processors. Separately, analysts at Mizuho raised their price target on shares to $240 from $225, also citing automotive opportunities. Nvidia shares have gained 119% in the past 12 months, compared with a 23% rise for the S&P 500 Index and a 45% gain for the Philadelphia Semiconductor Index .Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Qualcomm stock rises after Instinet upgrades to buy
Shares of Qualcomm Inc. rose 2.9% in Tuesday morning trading after analysts at Instinet upgraded the stock to buy from neutral. The analysts, led by Romit Shah, believe that Broadcom Ltd.'s attempt at a hostile takeover will light a fire under a management team they consider having been "unassertive" at times. "We expect the company to more aggressively focus on driving shareholder value in order to remain a standalone franchise," Shah wrote, including by closing the acquisition of NXP Semiconductors . He added that, while "not necessarily an immediate catalyst," Qualcomm might also consider settling its legal battle with Apple Inc. . "This would likely come as the strongest counter to Broadcom's attempt to buy the company," Shah wrote. Qualcomm also gave an overview of its 2017 financials in a filing released Tuesday. The company said it generated $23.2 billion in non-GAAP revenue for the year, above the FactSet consensus estimate of $22.8 billion. The company also sent a letter to shareholders asking them to reject Broadcom's takeover bid. Qualcomm shares have gained 4.6% so far this year, compared with a 4.9% rise for the S&P 500 Index and a 6.8% gain for the Philadelphia Semiconductor Index .Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Xilinx CEO retiring, COO to replace him
Xilinx Inc. said Thursday afternoon that Chief Executive Moshe Gavrielov will retire from his position on Jan. 28 and be replaced by Chief Operating Officer Victor Peng. Gavrielov has been at the helm of Xilinx for 10 years, during which time the stock has more than tripled. Peng served as executive vice president and general manager of products for Xilinx, and previously worked at Advanced Micro Devices Inc. Xilinx shares have gained 16.7% in the past year, which trails gains of larger indexes like the Nasdaq Composite Index , up 31.5%, and the PHLX Semiconductor Index , up 45.3%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
BRIEF-On Semiconductor Introduces Scalable Image Sensor Platform For Adas, Autonomous Driving
* ON SEMICONDUCTOR INTRODUCES SCALABLE IMAGE SENSOR PLATFORM
ADAS AND AUTONOMOUS DRIVING TO SPEED AND SIMPLIFY DESIGN AND
Source text for Eikon:
Further company coverage:
Tech shares rally on first trading day of 2018 led by chips, software
Tech shares rallied on the first day of trading in 2018 Tuesday with shares of chipmakers and software publishers leading the charge. The tech-heavy Nasdaq Composite Index rose 1.3%, outpacing the 0.6% gain on the S&P 500 Index and the 0.2% rise in the Dow Jones Industrial Average . The PHLX Semiconductor Index rallied 2.1%, led by a 6.4% jump in shares of Advanced Micro Devices Inc. and a 4.8% surge in Micron Technology Inc. shares. Other chipmakers with notable gains were Nvidia Corp. , up 2.1%, Broadcom Ltd. , up 3.3%, and Teradyne Inc. , up 5.1%. Notable software gains included Electronic Arts Inc. , up 4%, Symantec Corp. , up 2.7%, and Salesforce.com Inc. , up 2.2%. Other big tech movers included Netflix Inc. , up 5%, and Alibaba Group Holding Inc. , up 5.8%, while shares of Facebook Inc. rose 2.7%, and shares of Alphabet Inc. and Apple Inc. were up nearly 2%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Memory to Stay Very Strong in 2018: 5 Semiconductor Equipment Buys
Xcerra to resubmit China-backed deal for U.S. review
SAN FRANCISCO, Dec 21 (Reuters) - U.S. semiconductor testing
company Xcerra Corp said on Thursday in a filing that
it would resubmit its deal to be acquired by a Chinese
state-backed semiconductor investment fund to give U.S.
regulators more time to review the transaction for national
AMD stock jumps after Macquarie upgrade
Shares of Advanced Micro Devices rose 4.7% in Monday morning trading after analysts at Macquarie Research upgraded the stock to neutral from underperform. While the analysts, led by Srini Pajjuri, see "headwinds" in the cryptocurrency market and predict only moderate share gains in both PCs and graphics processing units (GPUs), they're more upbeat about other aspects of the business, including the opportunity for growth in average selling prices [ASP] and a recent partnership with Intel Corp. . The firm predicts "further ASP tailwinds in GPUs driven by Apple iMac Pro win and the recent Intel partnership (for gaming notebooks)." The analysts also see potential for AMD's server business, thanks to "encouraging" arrangements with Microsoft Inc. , Baidu Inc. , and Hewlett Packard Enterprise Co. , though they caution that share gains will take time. They raised their price target on shares to $11, from $10. AMD shares have fallen 5.8% so far in 2017, compared with a 20% gain for the S&P 500 Index and a 40% rise for the Philadelphia Semiconductor Index .Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Intel's stock surges back above 50-day MA, paces Dow gainers amid broad chip sector rally
Intel Corp.'s stock surged 3.4% to pace the Dow Jones Industrial Average's gainers, and to bounce back above the widely-watched 50-day moving average line, amid a broad rally in the semiconductor sector. The stock had been hovering just above the 50-day MA line, which chart watchers use as a guide to the short-term trend, for about a week until closing just below on Thursday for the first time since Aug. 29, 2017. The line currently extends to $43.46. Meanwhile, the iShares PHLX Semiconductor ETF jumped 1.8% to $170.20, with all 30 of its equity components trading higher, but remained just below its 50-day MA at $171.25. Among the ETF's other more-active components, shares of Micron Technology Inc. climbed 0.6%, Advanced Micro Devices Inc. rallied 1.6%, Nvidia Corp. surged 2.5% and Applied Materials Inc. ran up 3.0%. All four of those stocks are below their 50-day MAs.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
BRIEF-TSMC orders machinery equipment, facility worth T$8.66 bln
Taiwan Semiconductor Manufacturing Co Ltd(TSM) : * SAYS IT ORDERS MACHINERY EQUIPMENT WORTH T$8.3 BILLION FROM EBARA CORPORATION, SCREEN SEMICONDUCTOR SOLUTIONS CO, APPLIED MATERIALS SOUTH EAST ASIA PTE LTD, LAM RESEARCH INTERNATIONAL SARL, CHINA STEEL STRUCTURE CO LTD, CHUN YUAN STEEL INDUSTRY CO. * SAYS IT ORDERS FACILITY WORTH T$307 MILLION FROM WHOLETECH SYSTEM HITECH LTD Source text for Eikon: ...
Nvidia crypto mining opportunities likely to persist in 2018: analyst
Analysts at RBC Capital Markets think that Nvidia Corp. will continue to benefit from the mining of cryptocurrencies in 2018, even if the Ethereum blockchain moves past the use of graphics-processing units as Bitcoin has. The analysts pointed out that there are plenty of newer cryptocurrencies for which miners could use GPUs, including monero, bitcoin gold and ethereum classic. "The near-term dynamics remain positive and without a material change to the algorithm we find it highly unlikely the opportunity goes to zero next year," they wrote in a note to clients Tuesday. "Importantly, even if the algorithms change to proof of stake long term, we believe that the need to build out a decentralized world computer will command material compute power benefiting companies such as Nvidia," they added. Susquehanna analyst Chris Rolland made a similar point about Nvidia and Advanced Micro Devices Inc. in a Tuesday note, pointing out that Ethereum joining Bitcoin as an ASIC-driven mining task would be a "modest negative" for those two companies. Nvidia shares have gained 75% so far this year, while the Philadelphia Semiconductor Index is up 36% and the S&P 500 is up 19%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Micron stock rises after analyst calls it a 'favored' name for 2018
Shares of Micron Technology Inc. rose 1% in premarket trading Wednesday after analysts at Susquehanna Financial Group named the company one of their "favored" memory picks for 2018. "Cloud demand is expected to remain a key secular trend in '18 with ripple effects across the entire storage/memory supply chain," wrote the analysts, led by Mehdi Hosseini. "Data growth, and rapid migration of workloads from on-prem environments to public cloud, is not expected to abate, and we favor Micron and Western Digital Corp. as our top component names expected to benefit from cloud demand." Hosseini added that Facebook Inc. has announced plans to nearly double its capital expenditures for next year and Amazon.com continues to bring AWS to new regions. He's also upbeat about memory demand given increased interest in smartphone content. Micron shares have gained 91% so far in 2017, while WDC's stock is up 20%. The Philadelphia Semiconductor Index has risen 36%, and the S&P 500 has gained 19%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
AMD, Nvidia stocks fall as analyst says AI will need different chips in 2018
Shares of Advanced Micro Devices Inc. and Nvidia Corp. fell 1.7% and 1.3%, respectively, in Tuesday morning trading, after analysts at Susquehanna suggested that application-specific integrated circuits (ASICs) could become more important than graphics processing units (GPUs) for 2018. "Nvidia was in the right place at the right time," wrote the analysts, led by Christoper Rolland, as its GPUs made for gaming purposes proved useful for complex artificial-intelligence tasks as well. "However, our discussions with numerous thought leaders in the industry suggest ASICs may replace much of today's GPU infrastructure over time," he added. Plus, GPUs could become less useful for the mining of cryptocurrencies in 2018, according to Rolland. AMD shares have fallen 12% so far in 2017, compared with an 80% gain for Nvidia shares. The S&P 500 is up 19% this year, while the Philadelphia Semiconductor Index has gained 37%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Nikkei falls hit by tech shares, offsets gains in financials
TOKYO, Dec 5 (Reuters) - Japan's Nikkei share average
dropped on Tuesday morning with semiconductor equipment
manufacturers' stocks hit by weakness in U.S. tech shares
overnight, undercutting gains in financial stocks as banks and
Broadcom launches 11-nominee slate for Qualcomm board
(Reuters) - Chipmaker Broadcom Ltd made its first formal move toward a hostile bid to take over Qualcomm Inc on Monday, laying out a slate of 11 nominees it wants to put on the board of the U.S. semiconductor firm.
UPDATE 4-Broadcom launches 11-nominee slate for Qualcomm board
Dec 4 (Reuters) - Chipmaker Broadcom Ltd made its
first formal move toward a hostile bid to take over Qualcomm Inc
on Monday, laying out a slate of 11 nominees it wants
to put on the board of the U.S. semiconductor firm.
Technology ETF tumbles as chipmakers weigh
The largest exchange-traded fund to track the technology sector fell on Monday, diverging from the broad market's strong upward bias as semiconductor and large-capitalization internet stocks tumbled on the day. The fund fell 1.3%, compared with the 0.4% rise of the S&P 500 . Chipmakers were among the biggest drags within the sector, with the PHLX Semiconductor index down 2.9%. Every component of the semiconductor index fell on Monday amid valuation concerns and fear that supply of memory chips was catching up with demand. Advanced Micro Devices fell 7.1% while Micron Technology shed 5.8%. Nvidia Corp lost 5.7% on the day. The group has been one of the strongest sectors of the market this year, with the index up about 35% in 2017. Separately, some of tech's biggest 2017 gainers were also lower on the day. Facebook fell 1.9% while Microsoft Corp. was down 2.1%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Toshiba, Western Digital nearing deal over chip unit sale dispute: media
TOKYO (Reuters) - Toshiba Corp and Western Digital Corp are close to settling a legal dispute that has threatened to become a major stumbling block in the embattled Japanese conglomerate's plans to sell its $18 billion semiconductor unit, media reported.
Micron's stock tumbles to kick off just 3rd official 'pullback' during 1 1/2-year long bull market
Micron Technology Inc.'s stock tumbled 7.3%, as it headed for a third-straight loss since closing at a 17-year high on Friday, amid some near-term concerns over memory chip pricing. KeyBanc Capital analyst Weston Twigg reiterated his sector weight rating on Micron ahead Thursday's release of November monthly contract data pricing for dynamic random-access memory (DRAM) and NAND memory chips. "Despite good long-term memory trends, we see neutral to negative dynamics in the near- to midterm for NAND, and neutral dynamics for DRAM," Twigg wrote in a note to clients. The stock has shed 10.5% this week, which puts it on track to record just its third pullback since its current bull market began in May 2016. Many on Wall Street view a decline of 10% or more from a significant peak as an official pullback, while declines of at least 20% are bear markets. Micron's other pullbacks were the 15.4% drop from June 26, 2017 to Aug. 10, and the 16.5% decline from June 23, 2016 to July 6, 2016. From the May 13, 2016 bear market bottom of $9.56, the stock had rocketed more than five-fold to Friday's record close of $49.68. Over the past three months, Micron's stock was still up 41%, while the PHLX Semiconductor Index has climbed 17% and the S&P 500 has gained 7.4%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Nvidia's stock sinks toward biggest 3-day selloff in 21 months
Shares of Nvidia Corp. sank 7.4% on heavy volume in midday trade Wednesday, as they suffered a third-straight loss following Friday's record close. Volume swelled to 16.3 million shares, already more than the full-day average of 12.6 million shares. The stock has now plunged 10.1% during its losing streak, the biggest three-day selloff since it tumbled 10.6% during the three-day stretch ending Feb. 8, 2016. On Tuesday, shares of Nvidia and rival graphics chip maker Advanced Micro Devices Inc. took a hit after Mizuho analyst Vijay Rakesh warned that the cryptocurrency market could become less meaningful for chip companies. AMD's stock slid 3.2% on Wednesday. The stocks' selloff comes amid broad weakness in the chip sector, with the PHLX Semiconductor Index shedding 4.4%. The chip sector tracker has now lost 5.7% since closing at a record high on Friday.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Cyber Monday gains for retailers offset energy, chip losses
(Reuters) - The three major Wall Street indexes were higher in early trading as gains in Amazon and other retailers on Cyber Monday outweighed losses in semiconductor makers and energy stocks.
Nikkei falls as drops in chip-related stocks, financials weigh
TOKYO, Nov 20 (Reuters) - Japan's Nikkei share average fell
on Monday amid losses on Wall Street and a stronger yen, while
semiconductor equipment manufacturers and financial stocks
Dialog CEO says too early to assess potential iPhone boost
BARCELONA, Nov 15 (Reuters) - Anglo-German chipmaker Dialog
Semiconductor is poised for stronger growth in 2018
but its chief executive said it was too early to forecast how
its main customer - widely known to be Apple - will
contribute to results.
Qualcomm board unanimously reject Broadcom's $70-a-share cash and stock offer
Qualcomm Inc. said Monday its board has unanimously rejected the unsolicited bid from Broadcom Ltd. made last week, saying it "significantly undervalues" Qualcomm relative to its leading position in mobile technology and growth outlook. Broadcom last Monday made an offer to buy Qualcomm in a cash and stock deal valued at $130 billion, including debt. Under terms of the bid, Broadcom would pay $70 a share per each Qualcomm share outstanding, consisting of $60 a share in cash and $10 a share in Broadcom stock. "No company is better positioned in mobile, IoT, automotive, edge computing and networking within the semiconductor industry," Qualcomm Chief Executive Steve Mollenkopf said in a statement. "We are confident in our ability to create significant additional value for our stockholders as we continue our growth in these attractive segments and lead the transition to 5G." Qualcomm shares rose 0.8% premarket on the news, while Broadcom shares fell 0.7%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Nvidia stock options traders brace for some post-earnings volatility
Traders of Nvidia Corp.'s stock options are anticipating a little more than average volatility in the stock after the graphics chip maker reports fiscal third-quarter results Thursday, after the closing bell. An options strategy known as a "straddle," which involves the simultaneous buying of bullish call and bearish put options at the same price, is pricing in a one-day post-earnings move of 7.5% in either direction on Friday. That compares with an average move of 7.3% over the past eight years. Over the past 32 quarters, the stock rose the day after earnings 20 times and fell 12 times. The average move for the stock on an up day was 8.8% while the average decline has been 4.8%, according to an analysis of FactSet data and SEC filings. The day after rival Advanced Micro Devices Inc. reported third-quarter results, after the Oct. 24 close, its stock had tumbled 13.5%. On Tuesday, Nvidia's stock was up 1.1% in afternoon trade. It has run up 23% over the past three months, while the PHLX Semiconductor Index has climbed 20% and the S&P 500 has gained 4.3%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
ON Semiconductor's (ON) Q3 Earnings Up Y/Y, Revenues Beat
ON Semiconductor Corporation ON reported third quarter 2017 GAAP earnings of 25 cents per share much higher than the year ago earnings of 2 cents per share Earnings increased 14 sequentially The Zacks Consensus Estimate was pegged at 40 cents per share The company reported non
China-backed buyout fund founder charged in U.S. insider trading case
SAN FRANCISCO (Reuters) - The founder of a private equity firm with Chinese state backing has been charged with insider trading related to the attempted acquisition of Lattice Semiconductor Corp , U.S. authorities said on Monday.
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