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AAPL

Apple

$167.37

3.03 (1.84%)

, SYNA

Synaptics

$46.42

2.35 (5.33%)

07:15
02/15/18
02/15
07:15
02/15/18
07:15

Apple iPhone inventories continue to pile up, says KeyBanc

KeyBanc analyst John Vinh says that despite generous promotions at carriers, he observed a significant spike in Apple (AAPL) iPhone days of inventory, and feedback indicates price point as the main reason why sales of the iPhone X has disappointed. Given elevated store inventory levels, Vinh sees limited near-term demand catalysts for Apple supply chain stocks. However, he views Apple initiatives to reduce cost as positive for Synaptics' (SYNA) CoF opportunity and would recommend investors continue to own the stock, as well as additional content plays moving forward, including Broadcom (AVGO) and Skyworks (SWKS).

AAPL

Apple

$167.37

3.03 (1.84%)

SYNA

Synaptics

$46.42

2.35 (5.33%)

AVGO

Broadcom

$247.66

1.8 (0.73%)

SWKS

Skyworks

$104.65

1.07 (1.03%)

  • 20

    Feb

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    Feb

  • 23

    Feb

AAPL Apple
$167.37

3.03 (1.84%)

02/08/18
BERN
02/08/18
NO CHANGE
Target $125
BERN
Market Perform
NXP Semiconductors results likely to bring Qualcomm deal price to a head, says Bernstein
Bernstein analyst Stacy Rasgon notes that NXP Semiconductors' (NXPI) Q4 results were "very strong," and wonders a bit how much upside might have been Apple (AAPL)-related given SCD and SII dynamics given obvious weakness in the latter's supply chain. The analyst believes NXP Semiconductors' strong results are likely to bring the Qualcomm (QCOM) deal price to a head, but could also make it easier for management to justify a higher price, and it does not appear challenging to justify higher levels even with the shares at a discount to the industry. Rasgon reiterates a Market Perform rating and $125 price target on NXP Semiconductors' shares.
02/08/18
BOFA
02/08/18
NO CHANGE
Target $220
BOFA
Buy
Apple 'a name to own' in volatile markets, says BofA/Merrill
BofA Merrill Lynch analyst Wamsi Mohan calls Apple "a name to own" in times of market volatility, citing its low leverage, high cash balance, attractive valuation and opportunities for future growth. The analyst, who already models a 10% dividend increase in 2018 and expects Apple to announce a new authorization in the April timeframe that could be higher than its typical annual $30B-$50B, reiterates a Buy rating and $220 price target on Apple shares.
02/12/18
WELS
02/12/18
NO CHANGE
Target $195
WELS
Market Perform
Apple iPhone X was highest selling model, says Wells Fargo
Wells Fargo analyst Aaron Rakers notes that IDC has published its detailed estimates for smartphone shipments for the December quarter. The analyst thinks it is important to point out that, like Apple, IDC reports shipments on a sell-in less basis, with iPhone X shipments in the December quarter at 26.9M, which accounts for 35% of total shipments in Q4. Despite less than a full quarter of availability, iPhone X was the highest selling model in the September and December quarters, accounting for 22% of total shipments, he adds. Rakers reiterates a Market Perform rating and $195 price target on the shares.
02/13/18
02/13/18
NO CHANGE

AT&T the first carrier to offer BOGO deal for iPhone X, says Wells Fargo
Wells Fargo analyst Jennifer Fritzsche noted that AT&T (T) is the first cell phone carrier to offer a Buy One Get One Free, or BOGO, promotion on the Apple (AAPL) iPhone X, and highlighted that the deal has no requirement regarding new customers or trading in old devices. She said it is unclear if any other carrier will match the deal, although she noted that Verizon (VZ) and T-Mobile (TMUS) had attractive deals, although no true BOGO deal. Fritzsche also mentioned that AT&T has the "largest embedded base of iPhone users to protect," as it had iPhone exclusivity until 2011. Fritzsche has an Outperform rating and $48 price target on AT&T shares.
SYNA Synaptics
$46.42

2.35 (5.33%)

12/08/17
OTRG
12/08/17
NO CHANGE
OTRG
Synaptics likely lost Samsung S9 fingerprint sensor, says OTR Global
OTR Global's checks indicate Synaptics (SYNA) has lost the fingerprint sensor in Samsung's upcoming Galaxy S9 smartphone.
01/12/18
KEYB
01/12/18
UPGRADE
Target $60
KEYB
Overweight
Synaptics upgraded to Overweight from Sector Weight at KeyBanc
KeyBanc analyst John Vinh upgraded Synaptics to Overweight with a $60 price target. Meetings at this year's Consumer Electronics Show with supply partners and competitors left the analyst "incrementally more positive" regarding Synaptics' opportunity associated with in-display fingerprint. Vinh also gained a greater appreciation for the company's smart home opportunity, at both Amazon (AMZN) and Google (GOOG) as well as with Asia operators. He now has greater confidence in Synaptics' turnaround story.
02/08/18
CHLM
02/08/18
NO CHANGE
Target $49
CHLM
Buy
Synaptics price target raised to $49 from $43 at Craig-Hallum
Craig-Hallum analyst Anthony Stoss raised his price target for Synaptics to $49 from $43 following quarterly results and given solid OpEx management. The analyst reiterates a Buy rating on the shares.
02/05/18
KEYB
02/05/18
NO CHANGE
Target $60
KEYB
Overweight
Apple iPhone X challenges create opportunities for Synaptics, says KeyBanc
KeyBanc analyst John Vinh says that while read-throughs indicate worse than expected China smartphone trends could put guidance at risk, we believe this is already reflected in Synaptics (SYNA) lowered expectations. Additionally, the analyst believes the recent challenges related to disappointing Apple (AAPL) iPhone X sell-through highlight a positive opportunity for COF DDIC, as it extends the tail for LCD at Apple/industry, and carries a higher ASP. Vinh remains confident of Synaptics' longer-term story, including in-display fingerprint, and smarthome/Internet of Things. He reiterates an Overweight rating and $60 price target on Synaptics' shares.
AVGO Broadcom
$247.66

1.8 (0.73%)

02/01/18
KEYB
02/01/18
NO CHANGE
Target $73
KEYB
Overweight
Qualcomm price target raised to $73 from $68 at KeyBanc
KeyBanc analyst Michael McConnell raised his price target for Qualcomm (QCOM) to $73 from $68, citing significant EPS accretion and end-market diversification away from mobile from the pending NXP Semiconductors (NPXI) acquisition, an attractive dividend yield, and the possibility for a higher bid from potential acquirer Broadcom (AVGO). The analyst reiterates an Overweight rating on Qualcomm's shares.
02/01/18
KEYB
02/01/18
NO CHANGE
Target $320
KEYB
Overweight
Broadcom preliminary results alleviate concerns regarding iPhone risk, says KeyBanc
KeyBanc analyst John Vinh says Broadcom (AVGO) updated its Q1 and Q2 outlook to slightly better than consensus expectations, alleviating concerns that weak Apple (AAPL) iPhone X demand could put estimates at risk. The analyst reiterates an Overweight rating and $320 price target on Broadcom's shares.
01/31/18
OPCO
01/31/18
NO CHANGE
Target $315
OPCO
Outperform
Oppenheimer remains long-term buyers of Broadcom
Oppenheimer analyst Rick Schafer says he remains a long-term buyer of Broadcom shares following this morning's "positive" preannouncement. The upside guidance amid "confirmed fears of soft wireless" is an "effective salve to investor worries," Schafer tells investors in a research note. He remains positive on the potential Qualcomm (QCOM) and continues to see combined earnings power well above $25 per share under conservative assumptions. The analyst has an Outperform rating on Avago with a $315 price target.
01/31/18
BARD
01/31/18
NO CHANGE
BARD
Baird checks show Apple will bring Qorvo in on super PAD
Baird analyst Tristan Gerra say his firm's recent industry checks support the belief Apple (AAPL) will dual source the super PAD in 2018 and bring Qorvo (QRVO) in. Shares of Qorvo are up 37c to $71.04 in midday trading. Apple will have 3.5GHz in the second half of 2018, offering more capacity and benefiting carriers, Gerra tells investors in a research note. He also believes Broadcom (AVGO) is working on custom 802-11.ax for Apple, with Qualcomm (QCOM) being one year behind on .ax. Gerra added that the checks indicate Intel's (INTC) 7560 modem sampling is on track.
SWKS Skyworks
$104.65

1.07 (1.03%)

02/06/18
02/06/18
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Barclays analyst Paul Cheng upgraded Chevron (CVX) to Overweight from Equal Weight and raised his price target for the shares to $135 from $130. The analyst recommends investors shift to Chevron from Exxon Mobil (XOM), a stock he double downgraded this morning to Underweight. Chevron's fundamentals are improving at a faster pace than many of the other mega majors, Cheng said. 2. Micron (MU) upgraded to Overweight from Sector Weight at KeyBanc by analyst Weston Twigg. Following the company's positive preannouncement amid "strong" DRAM pricing, the valuation and long-term trends "are too compelling to ignore," Twigg said. Micron was also upgraded to Strong Buy from Buy at Needham. 3. Skyworks (SWKS) upgraded to Outperform from Market Perform at BMO Capital by analyst Ambrish Srivastava, who cited the company's "ability to sustain a higher level of free cash flows to sales ratio than in the past and its commitment to higher capital allocation." Skyworks was also upgraded to Buy from Hold at Summit Insights. 4. HSBC (HSBC) upgraded to Hold from Sell at Santander. 5. RBS (RBS) upgraded to Neutral from Underperform at BofA/Merrill by analyst Michael Helsby, who said the rise in rates has led to a steeper yield curve in the U.K. which should result in higher earnings. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
02/06/18
MSCO
02/06/18
NO CHANGE
Target $85
MSCO
Underweight
Morgan Stanley says hard to see how Skyworks will be 'unscathed' from correction
Morgan Stanley analyst Craig Hettenbach noted that Skyworks (SWKS) guided 4% below the consensus view, which contrasts with the more significant guide downs from other Apple (AAPL) and smartphone suppliers. Hettenbach, who said its difficult for him to see how Skyworks will "come out relatively unscathed" from the significant correction underway in both the Apple supply chain and China smartphones, keeps an Underweight rating and $85 price target on Skyworks shares.
02/06/18
BMOC
02/06/18
UPGRADE
Target $120
BMOC
Outperform
Skyworks upgraded to Outperform at BMO Capital on valuation and cash flows
As reported earlier, BMO Capital analyst Ambrish Srivastava upgraded Skyworks to Outperform from Market Perform and raised his price target to $120 from $100. The analyst cites the company's "ability to sustain a higher level of free cash flows to sales ratio than in the past and its commitment to higher capital allocation". Srivastava also points to attractive valuation for Skyworks, with the stock trading at a 11-times FY19 EPS estimate vs. 13-times for its peer group.
02/06/18
ADAM
02/06/18
NO CHANGE
Target $120
ADAM
Buy
Skyworks well positioned for double-digit annual growth, says Canaccord
Canaccord analyst T. Michael Walkley said Skyworks reported strong Q1 results and believes they remain well positioned for double-digit annual growth given the company's strong dollar content with leading smartphone OEMs. Walkley reiterated his Buy rating and raised his price target to $120 from $115 on Skyworks shares.

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OTTW

Ottawa Bancorp

$13.56

-0.14 (-1.02%)

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Jazz Pharmaceuticals

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AYI

Acuity Brands

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HYAC

Haymaker Acquisition

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Herman Miller

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Micron

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Williams-Sonoma

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0.09 (0.16%)

SIEN

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0.945 (10.73%)

EB

Eventbrite

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UNIT

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CBMG

Cellular Biomedicine

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0.38 (2.13%)

FTDR

Frontdoor

$32.10

-2.29 (-6.66%)

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SAGE

Sage Therapeutics

$152.62

-3.46 (-2.22%)

18:39
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Sage Therapeutics CEO: Postpartum depression is a medical issue »

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NVDA

Nvidia

$174.38

-1.39 (-0.79%)

18:27
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18:27
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18:27
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Nvidia analyst commentary  »

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CURLF

Curaleaf Holdings

$0.00

(0.00%)

, CVS

CVS Health

$56.17

-0.93 (-1.63%)

18:24
03/20/19
03/20
18:24
03/20/19
18:24
Periodicals
CVS to start selling CBD products in partnership with Curaleaf, Bloomberg says »

Curaleaf (CURLF) said…

CURLF

Curaleaf Holdings

$0.00

(0.00%)

CVS

CVS Health

$56.17

-0.93 (-1.63%)

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PETQ

PetIQ

$29.87

0.91 (3.14%)

18:23
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18:23
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18:23
Hot Stocks
PetIQ CEO: We are totally transparent about our price model »

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T

AT&T

$30.51

-0.19 (-0.62%)

18:21
03/20/19
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18:21
Periodicals
AT&T CEO: Huawei makes it hard for carriers to shift suppliers, Reuters says »

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SGSOY

SGS SA

$0.00

(0.00%)

18:19
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18:19
Downgrade
SGS SA rating change  »

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CLX

Clorox

$155.94

-0.93 (-0.59%)

, RBGLY

Reckitt Benckiser

$0.00

(0.00%)

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Clorox files false advertising lawsuit against Reckitt Benckiser »

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Clorox

$155.94

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RBGLY

Reckitt Benckiser

$0.00

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BA

Boeing

$376.41

2.54 (0.68%)

18:09
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Periodicals
Boeing pushes flight test to International Space Station to August, Reuters says »

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CE

Celanese

$101.04

0.08 (0.08%)

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FTDR

Frontdoor

$32.10

-2.29 (-6.66%)

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Syndicate
Frontdoor 16.73M share Secondary priced at $30.00 »

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LEVI

Levi Strauss

$0.00

(0.00%)

17:57
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Syndicate
Levi Strauss 36.667M share IPO priced at $17.00 »

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17:55
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Conference/Events
William Blair healthcare/biotech analysts to hold a dinner meeting »

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JBLU

JetBlue

$16.31

-0.32 (-1.92%)

17:50
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Suit: JetBlue pilots sexually assaulted female airline workers, NY Post says »

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AAPL

Apple

$188.14

1.57 (0.84%)

, NWS

News Corp

$12.64

0.02 (0.16%)

17:50
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Periodicals
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AAPL

Apple

$188.14

1.57 (0.84%)

NWS

News Corp

$12.64

0.02 (0.16%)

NWSA

News Corp.

$12.61

0.07 (0.56%)

NYT

New York Times

$33.36

-0.62 (-1.82%)

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MAR

Marriott

$123.65

-2.09 (-1.66%)

, CVS

CVS Health

$56.17

-0.93 (-1.63%)

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Marriott appoints Margaret McCarthy to Board of Directors »

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MAR

Marriott

$123.65

-2.09 (-1.66%)

CVS

CVS Health

$56.17

-0.93 (-1.63%)

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BA

Boeing

$376.41

2.54 (0.68%)

17:28
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17:28
Hot Stocks
Boeing awarded $4.04B Navy contract modification for delivery of 78 F/A-18s »

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WOR

Worthington

$36.81

-0.175 (-0.47%)

17:24
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Hot Stocks
Worthington announces additional 6.6M share repurchase plan »

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MU

Micron

$40.08

-0.3 (-0.74%)

17:24
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Hot Stocks
Micron says it is idling DRAM capacity »

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T

AT&T

$30.51

-0.19 (-0.62%)

, CMCSA

Comcast

$39.48

-0.35 (-0.88%)

17:21
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17:21
Periodicals
AT&T, Comcast partnering to fight robocalls, Verge says »

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T

AT&T

$30.51

-0.19 (-0.62%)

CMCSA

Comcast

$39.48

-0.35 (-0.88%)

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RAVN

Raven

$38.67

-0.05 (-0.13%)

17:21
03/20/19
03/20
17:21
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17:21
Earnings
Raven reports Q4 EPS 8c, one estimate 24c »

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