Ahead of the market open, CEVA issued a 3Q13 earnings pre-announcement which calls for September quarter revenue to approximate $10.0 million versus prior guidance of $11.5-$12.5 million. While CEVA has disappointed in recent quarters, we are sticking with our Buy rating for a few reasons. First, we believe the 3Q13 license miss is temporary in nature and the $2.0 million license shortfall in 3Q13 may … Continue reading Ceva Inc. Lowers Q4 Guidance
On Monday morning, it was announced that Avago Technologies (AVGO), a leader in advanced optical, analog and mixed-signal chip design, will acquire LSI Corp (LSI), a strong market participant in hard disk drive semiconductor, system-level silicon for communications and server applications and flash storage solutions. AVGO will pay $6.6 billion for LSI, or $11.15 per LSI share. This is a 41% premium from Friday’s close … Continue reading Avago Technologies to Acquire LSI Corp at 41% Premium
In the first quarter, Echo posted 21% revenue growth (9% organic). The increase includes a boost from the October 2013 Sharp Freight acquisition, and partly reflects a 13% rise in shipment volume (less-than-truckload, or LTL, and truckload volume expanded 11% and 18%, respectively). We note that shipment activity slowed relative to the 20% year-over-year gains posted in fourth quarter 2012. Rates to customers on LTL … Continue reading Echo Logistics Posts 21% Growth in 1Q
VeriSign announced a solid start to the financial year, and its full-year guidance remains primarily unchanged. The company added 1.99 million net new names for the quarter and now provides registry services for 123.1 million active domains across the .com and .net zones – a 5.5% increase year-over year. With such a large domain base, VeriSign continues to be the prominent global gTLD provider. We … Continue reading Verisign Posts Solid Start in Fiscal Q1
QCR Holdings reported net income of $2.4 million, or $0.49 per share, after preferred stock dividends of $811 thousand in the first quarter of 204 compared with net profit of $2.3 million, or $0.48 per share, after preferred dividends of $939 thousand in the first quarter of 2013. Despite the net interest margin decline during the quarter, QCRH’s asset quality continued to improve. However, the … Continue reading QCR Holdings Sees Boost in Loan Sales
Skyworks Solutions reported healthy fiscal second quarter earnings. Although the company gave investors a third-quarter outlook that was modestly below our expectations, it hinted at nice growth in the second half of calendar 2013. Skyworks’ revenue was $425 million in the March quarter, slightly above the outlook of $420 million as discussed by management in January. Sales were down 6% sequentially because of seasonal weakness … Continue reading Skyworks Reports 2Q Earnings, Expects Solid 2H Growth
