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AAPL

Apple

, AVGO

Broadcom

$262.35

0.82 (0.31%)

11:00
12/26/17
12/26
11:00
12/26/17
11:00

Apple estimates at limited risk after cautious iPhone report, says B. Riley FBR

B. Riley FBR analyst Craig Ellis noted the recent "divergent" reports on iPhone X demand from two Asian sources, namely Digitimes and Taiwan's Economic Daily News, pointing out that Digitimes seemed to imply a positive take about iPhone X forecasts while EDN discussed a post-holiday order cut made by the company to iPhone suppliers. Ellis said he would be opportunistic in adding to positions in some of the Apple supplier stocks being impacted by the EDN report, as he believes fundamentals continue to track toward consensus expectations, with upside possible. Ellis lists Broadcom (AVGO), Skyworks (SWKS), Applied Materials (AMAT) and Lam Research (LRCX) as among the Apple suppliers and semi equipment suppliers on which the firm maintains Buy ratings.

AAPL

Apple

AVGO

Broadcom

$262.35

0.82 (0.31%)

SWKS

Skyworks

$97.07

-0.42 (-0.43%)

AMAT

Applied Materials

$52.06

0.17 (0.33%)

LRCX

Lam Research

$186.69

1.05 (0.57%)

  • 09

    Jan

  • 09

    Jan

  • 09

    Jan

AAPL Apple

12/26/17
LSCM
12/26/17
NO CHANGE
LSCM
Buy
Lake Street says Knowles more likely than Himax to be impacted by Apple weakness
Lake Street analyst Jaeson Schmidt thinks Knowles (KN) is more likely to be impacted by concerns over iPhone X shipment weakness than Himax (HIMX), which is not immune but has the advantage of Android OEMs helping to backfill revenue that may be lost with Apple (AAPL). Amid the reports of concerns over weakness in first quarter iPhone X sales, he has Buy rating on the shares of both of the aforementioned Apple suppliers.
12/21/17
MSCO
12/21/17
NO CHANGE
Target $200
MSCO
Overweight
iPhone X helping Apple accelerate share gains in China, says Morgan Stanley
Morgan Stanley analyst Katy Huberty said new data through the first 16 days of iPhone X availability in China show that adoption of the high-end device is on a faster pace than the iPhone 8 or 8 Plus, which she sees fueling an acceleration of Apple smartphone share gains. The analyst, who also noted that Google Trends data corroborate iPhone strength in China, said Apple remains her top pick entering 2018 and she keeps an Overweight rating on the stock with a $200 price target.
12/19/17
12/19/17
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Apple (AAPL) downgraded to Neutral from Buy at Nomura Instinet with analyst Jeffrey Kvaal saying the stock's gains for the iPhone X "supercycle are in the late innings." 2. Hanesbrands (HBI) downgraded to Neutral from Buy at Citi with analyst Kate McShane saying the U.S. wholesale environment remains challenging due to declining traffic trends in stores and price-based competition in all channels. 3. PPL Corp. (PPL) downgraded to Underperform from Neutral at Macquarie with analyst Angie Storozynski saying she thinks the next UK regulatory review will result in a meaningful drop in revenues and believes the high dividend debate will come back into focus. 4. Chubb (CB) downgraded to Neutral from Outperform at Credit Suisse with analyst Ryan Tunis noting that while the integration of ACE Limited (ACE)/Chubb has been successful and positions the latter well for the future, the analyst argues that it is difficult for him to solve for much upside to medium term earnings per share and shares with the integration coming to a close in the fourth quarter. 5. KB Home (KBH) downgraded to Underweight from Neutral at JPMorgan with analyst Michael Rehaut citing valuation with the shares up 100% in 2017. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
12/26/17
RSBL
12/26/17
NO CHANGE
RSBL
Rosenblatt sees no evidence of more Apple iPhone production cuts
Taiwanese media reports may be confusing the market and could be referring to previously mentioned iPhone 8/8 Plus production cuts, said Rosenblatt analysts, who added that they find no evidence in their research of further order cuts after the holiday season.
AVGO Broadcom
$262.35

0.82 (0.31%)

12/15/17
OPCO
12/15/17
NO CHANGE
OPCO
Outperform
Broadcom Q2 estimate concerns overblown, says Oppenheimer
After meeting with management, Oppenheimer analyst Rick Schafer believes concerns over the Q2 estimates for Broadcom (AVGO) are overblown. The staggered launches of the two new iPhones creates near-term upside potential, Schafer tells investors in a research note. The company remains his top pick for 2018 with or without Qualcomm (QCOM). He keeps an Outperform rating on the shares with a $315 price target.
12/14/17
BNCH
12/14/17
NO CHANGE
BNCH
Buy
Xperi request to ITC may be signal of work on Broadcom license, says Benchmark
After Xperi's (XPER) Tessera division made a last minute request for the ITC to delay its release of its final determination in the company's patent complaint against Broadcom (AVGO), Benchmark analyst Gary Mobley said he thinks this may be related to an attempt to hash out a license agreement, perhaps at Broadcom's request. A license agreement would be a positive both because it would allow Xperi to achieve the high end of its Q4 revenue guidance but also because it could represent "the first domino to fall" with Samsung (SSNLF) and others, said Mobley, who keeps a Buy rating on Xperi shares.
12/18/17
CHLM
12/18/17
NO CHANGE
Target $40
CHLM
Buy
Xperi shares have room to rally further, says Craig-Hallum
Craig-Hallum analyst Richard Shannon believes Xperi's (XPER) settlement with Broadcom (AVGO) is "strong confirmation" of the company's process and intellectual property. Licensing Broadcom will drive other customers to license rather than litigate, Shannon tells investors in an intraday research note. He believes the upfront payment for Q4, which was not disclosed, is around $30M and that ongoing payments are likely extend around four years. Shannon sees a "multiplier effect" from the settlement and believes shares of Xperi have further room to run. The analyst has a Buy rating on the shares with a $40 price target. The stock in afternoon trading is up 9% to $25.78.
12/18/17
PIPR
12/18/17
INITIATION
Target $25
PIPR
Overweight
Marvell initiated with an Overweight at Piper Jaffray
Piper Jaffray analyst Harsh Kumar initiated Marvell with an Overweight rating and a price target of $25. Kumar says the company has "significant room to run in its turnaround", adding that its storage business will be a significant driver of growth. The analyst also contends that customers will seek an alternative in the Ethernet market and would welcome Marvell products to hedge those of Broadcom (AVGO). Kumar also believes the Cavium acquisition will bring cost synergies and added growth.
SWKS Skyworks
$97.07

-0.42 (-0.43%)

12/20/17
PIPR
12/20/17
INITIATION
Target $115
PIPR
Overweight
Skyworks initiated with an Overweight at Piper Jaffray
Piper Jaffray analyst Harsh Kumar started Skyworks Solutions with an Overweight rating and $115 price target. The analyst believes the company will continue to perform well in the mobile market over the near and medium term. Skyworks is well positioned to gain share and content in marquee handsets in both the U.S. and China, Kumar tells investors in a research note.
11/07/17
BOFA
11/07/17
NO CHANGE
Target $125
BOFA
Buy
Skyworks price target raised to $125 from $120 at BofA/Merrill
12/11/17
SBSH
12/11/17
NO CHANGE
SBSH
Citi 'getting more nervous' on semiconductors after Asia trip
Following a trip last week to Asia meeting with companies across the technology supply chain, Citi analyst Christopher Danely says he's "getting more nervous" on the semiconductor sector. While demand from the PC end market remains strong, the NAND market remains weak and data points on Apple's (AAPL) iPhone were mixed, Danely tells investors in a research note. The analyst saw signs of an inventory build and believes upside to consensus estimates is declining. He feels momentum is slowing in the semiconductor space. Danely's top pick is Microchip (MCHP) and he's also Buy-rated on Texas Instruments (TXN), Applied Materials (AMAT), Nvidia (NVDA), Skyworks (SWKS), ON Semiconductor (ON) and Micron (MU). The analyst's checks indicate slower than expected iPhone X and 8 demand but stronger iPhone 7 demand. He views this as bad for Skyworks and Qorvo (QRVO) and good for Analog Devices (ADI).
12/15/17
JPMS
12/15/17
NO CHANGE
JPMS
JPMorgan sees opportunities in Wireless Semiconductors, prefers Qorvo
JPMorgan analyst Bill Peterson believes the recent pullback in Wireless Semiconductor names, specifically Apple-exposed stocks, creates a good opportunity for investors to take long positions. The analyst sees the most upside in Qorvo (QRVO). He believes fears of production cuts and demand weakness are overblown. The December quarter and outlook for the March quarter are tracking to company expectations that have been built on conservative prospects for smartphone demand, Peterson tells investors in a research note.
AMAT Applied Materials
$52.06

0.17 (0.33%)

12/06/17
12/06/17
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Alibaba (BABA) initiated with a Positive at Susquehanna. 2. WWE (WWE) initiated with an Overweight at JPMorgan. 3. Facebook (FB), Alphabet Class A (GOOGL), and Amazon.com (AMZN) were initiated with an Outperform at Evercore ISI, while Netflix (NFLX) was initiated with an In Line. 4. Applied Materials (AMAT) initiated with an Outperform at Wells Fargo. 5. Delphi Technologies (DLPH) was initiated with an Overweight at Barclays while being initiated with a Neutral at BofA/Merrill and UBS. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
12/20/17
RBCM
12/20/17
NO CHANGE
RBCM
RBC says Applied Materials, Lam Research to benefit from continued memory capex
RBC Capital analyst Amit Daryanani, in analyzing the read-throughs from Micron's (MU) earnings report to others in the semiconductors sector, said he believes continued DRAM and NAND capital spending will benefit Applied Materials (AMAT) and Lam Research (LRCX) the most, adding that he sees Ichor Holdings (ICHR) as likely to be an indirect beneficiary as well given that those two account for the far majority of Ichor's sales.
12/11/17
JPMS
12/11/17
NO CHANGE
JPMS
Overweight
KLA-Tencor named top 2018 Semiconductor Equipment pick at JPMorgan
JPMorgan analyst Harlan Sur calls KLA-Tencor (KLAC) his top Semiconductor Equipment pick for 2018. The analyst believes 2018 will be another growth year for wafer fab equipment spending, broad based across memory and foundry/logic. Along with KLA-Tencor, the analyst has Overweight ratings on Applied Materials (AMAT), Lam Research (LRCX) and Orbotech (ORBK). He believes valuations still look attractive in the space.
LRCX Lam Research
$186.69

1.05 (0.57%)

12/13/17
BOFA
12/13/17
NO CHANGE
BOFA
Equinix added to US 1 List, Lam Research removed at BofA/Merrill
12/07/17
NOMU
12/07/17
UPGRADE
Target $215
NOMU
Buy
Lam Research upgraded to Buy from Neutral at Nomura Instinet
Nomura Instinet analyst Romit Shah upgraded Lam Research to Buy saying the pullback in shares to $185 from $220 is an "early Christmas gift." The analyst sees Lam as the biggest beneficiary in his coverage of the U.S. repatriation tax plan. Further, he believes memory fundamentals are strong and expects revenue outperformance through the first half of 2018. Shah forecasts memory capital expenditures to increase from $32B in 2017 to $35B in 2018. The analyst keeps a $215 price target for Lam Research shares.

TODAY'S FREE FLY STORIES

VZ

Verizon

, LOGI

Logitech

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0.25 (0.67%)

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NBL

Noble Energy

09:16
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JNJ

Johnson & Johnson

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ABEO

Abeona Therapeutics

$14.85

0.25 (1.71%)

09:16
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EOG

EOG Resources

09:15
01/23/18
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FANG

Diamondback Energy

$132.21

4.64 (3.64%)

09:13
01/23/18
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TWTR

Twitter

09:13
01/23/18
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Hot Stocks
Twitter drops as COO Anthony Noto resigns to become SoFi CEO »

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AMRN

Amarin

$4.04

0.07 (1.76%)

09:12
01/23/18
01/23
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DVN

Devon Energy

09:12
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  • 21

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TWTR

Twitter

09:12
01/23/18
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Technical Analysis
Technical Take: Twitter drops on departure of COO Anthony Noto »

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CLR

Continental Resources

09:11
01/23/18
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HAL

Halliburton

09:10
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CXO

Concho Resources

$160.41

4.22 (2.70%)

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  • 21

    Feb

VZ

Verizon

$53.46

1.55 (2.99%)

09:09
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Technical Take: Verizon trades higher after results »

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ANAB

AnaptysBio

$114.78

-0.135 (-0.12%)

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XEC

Cimarex Energy

$126.80

2.76 (2.23%)

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DGX

Quest Diagnostics

$103.57

0.51 (0.49%)

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VZ

Verizon

$53.46

1.55 (2.99%)

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SLB

Schlumberger

$79.79

3.37 (4.41%)

09:06
01/23/18
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APC

Anadarko

$60.72

2.52 (4.33%)

09:06
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VZ

Verizon

$53.46

1.55 (2.99%)

09:06
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09:06
Hot Stocks
Breaking Hot Stocks news story on Verizon »

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TWTR

Twitter

$23.32

-0.34 (-1.44%)

09:05
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HAL

Halliburton

$56.40

3.39 (6.40%)

09:05
01/23/18
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PG

Procter & Gamble

$91.89

0.82 (0.90%)

09:04
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Procter & Gamble sees stronger earnings growth in Q4 than Q3 »

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WPP

WPP

$95.32

-0.21 (-0.22%)

09:04
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WPP rating change  »

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