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WATT

Energous

$23.02

-1.11 (-4.60%)

09:28
01/12/18
01/12
09:28
01/12/18
09:28

Energous sees 'modest levels' of chip revenue through Q3 of 2018

The company said in a regulatory filing, "Energous is currently making the transition from product development to commercial revenue generation from chip sales. During the fourth quarter of 2017, Energous began shipping chips through Dialog to customers, but in limited quantities that were not recognized as revenue. Energous expects to recognize modest levels of chip revenue in the first quarter of 2018. Growth in Energous's chip revenue depends on a variety of factors, including its success in securing design wins, and the success of its customers in commercializing their end-products and receiving regulatory approval to sell their end-products to consumers. Energous expects end-products incorporating its Near Field transmitter technology to be available to consumers in the first half of 2018, while end-products incorporating its Mid Field transmitter technology will be available to consumers in the second half of 2018. Energous anticipates that shipments of its customers' end-products will begin in modest volumes and will grow over time based on consumer demand. Shipments of silicon chips for revenue will follow the same curve as both the number of WattUp enabled products hit the market and consumer demand expands for the WattUp enable products in the market. Given these factors, Energous expects that its chip revenue will remain at modest levels through the third quarter of 2018, with opportunities for growth thereafter. Energous expects to continue generating engineering services revenue during 2018, although the timing and magnitude of this revenue is difficult to predict."

WATT Energous
$23.02

-1.11 (-4.60%)

01/05/18
OPCO
01/05/18
NO CHANGE
OPCO
Energous reached major milestone last week, says Oppenheimer
Oppenheimer analyst Andrew Uerkwitz says that after after several years and multiple iterations, Energous accomplished a "major milestone" last week with the FCC approving its distance charging solution. While the importance shouldn't be overlooked, going forward it's all about execution, Uerkwitz tells investors in a research note. The analyst, not wanting to "get ahead of our skis," reiterates a Perform rating on Energous. The analyst believes his model, that derives a potential fair value of $24 for the stock, is unreliable "due to minor changes yielding major moves."
12/28/17
ROTH
12/28/17
NO CHANGE
Target $45.8
ROTH
Buy
Energous price target raised to $45.80 from $22.80 at Roth Capital
Roth Capital analyst William Gibson raised his price target for Energous to $45.80 from $22.80 based on the NPV of all losses and net income over ten years from 2015 through 2024. The analyst notes that the Federal Communications Commission certified Energous' WattUp Mid Field transmitter, making it the first-ever FCC approved charger capable of transferring power wirelessly up to three feet over RF frequencies. This puts the guidelines in place for new WattUp technologies in coming weeks and months with more power, functionality, and scale, he adds. Gibson reiterates a Buy rating on the shares.
05/02/17
JPMS
05/02/17
NO CHANGE
Target $260
JPMS
Overweight
JPMorgan now confident Broadcom's wireless charging is in upcoming iPhone
JPMorgan analyst Harlan Sur says his recent work indicates Apple (AAPL) will integrate Broadcom's (BRCM) wireless charging chip into its upcoming iPhone launch in the second half of 2017. In his initial report on the subject in February, Sur was unclear whether or not Apple would be integrating wireless charging into this year's iPhone launch. The February report sent shares of Energous (WATT) lower. Since that report, Sur has learned that Broadcom is getting set to commence manufacturing production of the wireless charging chip with its foundry partners in May. Sur believes Apple will also use Broadcom's next generation WiFi/Bluetooth combo chip and maybe two ASIC chips instead of one. There is at least a $2-$3 step-up in dollar content per phone from the new wireless charging chip, new touch controller chips and upgraded wireless connectivity content in the upcoming iPhones, which is "significantly" higher than what the market is anticipating, Sur tells investors in a research note. He reiterates an Overweight rating on Broadcom with a $260 price target. The stock closed yesterday up 51c to $221.32.
03/09/17
LTCO
03/09/17
NO CHANGE
Target $18
LTCO
Buy
Ladenburg ups Energous target to $18 post Q4 results
Ladenburg Thalmann analyst Jon Hickman raised his price target for Energous to $18 from $16.75 following the company's Q4 results. On the earnings call, management highlighted the company's relationship with Dialog Semiconductor, its progress in meeting the requirements for FCC certification of the mid-range transmitter and the successful completion the new integrated 4100 chip-set, Hickman tells investors in a research note. The analyst is now more confident that Energous is on track to achieve "meaningful product revenues" in 2017. He keeps a Buy rating on the shares.

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