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INTC

Intel

$44.23

-0.6 (-1.34%)

, ASML

ASML

$171.82

-0.21 (-0.12%)

06:34
10/12/18
10/12
06:34
10/12/18
06:34

Intel's stake in supplier ASML falls below 3%, Reuters says

According to an update from the registry of the Netherlands' Authority for Financial Markets on Friday, Intel's (INTC) stake in supplier ASML (ASML) has been reduced to below 3%, says Reuters. Reference Link

INTC

Intel

$44.23

-0.6 (-1.34%)

ASML

ASML

$171.82

-0.21 (-0.12%)

  • 17

    Oct

  • 22

    Oct

INTC Intel
$44.23

-0.6 (-1.34%)

10/01/18
10/01/18
NO CHANGE

Fly Intel: Today's top analyst calls on Wall Street
Check out today's top analyst calls from around Wall Street, compiled by The Fly. OPCO CUTS CHIPOTLE TO UNDERPERFORM: Oppenheimer analyst Brian Bittner downgraded Chipotle Mexican Grill (CMG) to Underperform from Perform with a $400 price target. Since its new CEO announcement in February, Chipotle is up 82% and has been upgraded 10 different times by the Street, Bittner noted. The company's "high-flying" valuation has "priced in" persistent mid-single same-store-sales and a path to at least $20 of earnings per share versus $8-$9 this year, the analyst added. His work suggests this earnings path is too optimistic, even when assuming "healthy sales." INTEL CUT TO UNDERWEIGHT BY BARCLAYS: Barclays analyst Blayne Curtis downgraded Intel (INTC) to Underweight from Equal Weight and lowered his price target for the shares to $38 from $53. End-market tailwinds that propelled the run in shares, namely PC shortages and the slowing of server growth, are likely to reverse, Curtis believes. Further, the analyst expects Intel will see increased competition from AMD (AMD) and declining free cash flow returns. In addition, the names that have been floated in the CEO search "have yet to yield any disruptive potential candidates to take on all of these challenges," Curtis said. By squandering its manufacturing lead, the company now faces a "costly battle to retain share amidst a near-term slowing of its end markets," concluded the analyst. MKM CUTS INFINERA TO SELL: MKM Partners analyst Michael Genovese downgraded Infinera (INFN) to Sell from Neutral and lowered his price target to $5.50 from $10. The analyst said his checks suggest the company's loss of its biggest customer CenturyLink (CTL) to Ciena (CIEN) amid concerns with its ability to produce "new leading edge digital signal processors every 18-30 months". Genovese expects Infinera's upcoming guidance for Q4 and FY19 to be disappointing on revenues and margins, while his price target that assumes a valuation multiple of 0.8-times enterprise value to expected FY19 sales "reflects increasing concerns about the long-term competitiveness of the company." TEVA UPGRADED AT LEERINK, GOLDMAN: Leerink analyst Ami Fadia upgraded Teva (TEVA) to Market Perform from Underperform due to improving business fundamentals as well as the improving multiples for the overall generics sector. The analyst, who believes the company's fundamentals have improved meaningfully and put Teva in a position to pay down $3.5B in debt by YE18, raised his price target on the shares to $24 from $16. Meanwhile, Goldman Sachs analyst Jami Rubin added Teva to Goldman's Conviction List with a Buy rating, calling the recent selloff in the shares a "head scratcher." Recent concerns raised in the marketplace regarding second half of 2018 headwinds and Eli Lilly's (LLY) galcenuzemab approval were already expected and well understood, Rubin tells investors in a research note. DEUTSCHE CUTS LAM RESEARCH, APPLIED MATERIALS TO HOLD: Deutsche Bank analyst Sidney Ho downgraded Lam Research (LRCX) to Hold and lowered his price target for the shares to $170 from $230, and downgraded Applied Materials (AMAT) to Hold and lowered his price target for the shares to $43 from $58. Semicap Equipment stocks are not expensive but lack positive catalysts, Ho said. The analyst believes investor fears over that the industry has reached a cyclical peak will remain as long as the memory market stays weak. Further, he sees risk is for additional capex push-outs, especially in the first half of 2019.
10/02/18
RBCM
10/02/18
NO CHANGE
Target $29
RBCM
Outperform
HP's PSG FY19 revenue seen 'flat to slightly positive', says RBC Capital
RBC Capital analyst Amit Daryanani kept his Outperform rating and $29 price target on HP Inc (HPQ) ahead of its Analyst Day tomorrow. The analyst expects the company to guide is FY19 revenue for Personal Systems Group to be "flat to slightly positive" despite the unit moderation related to Intel (INTC) CPU shortage constraints. Daryanani also anticipates the Printing group outlook to be slightly higher on supplies stabilization sustaining into FY19 and the overall free cash flow outlook in the $3.5B-$4.0B range - in line with the expected $3.7B in FY18.
10/05/18
BOFA
10/05/18
NO CHANGE
BOFA
Buy
AMD lead over Intel within 7nm server remains intact, says BofA/Merrill
BofA Merrill Lynch analyst Vivek Arya noted that AMD (AMD) shares have underperformed Intel's (INTC) by about 28 percentage points since September 12 amid media reports that the latter is accelerating purchases of 10nm equipment. Intel's recent backing of its 2018 outlook also threw cold water on some bullish expectations for AMD to capture share in current-generation technology, add Arya. However, while Intel can slightly improve launch timing for next-gen 10nm-based PC processors, the launch of the more critical server parts is still unlikely before mid-2020, at-best, Arya believes. Also, AMD's 6 to 9 month lead with its 7nm server chips, which are already sampling, remains intact, said the analyst, who keeps a Buy rating on AMD and Neutral rating on Intel shares.
10/08/18
MSCO
10/08/18
NO CHANGE
Target $50
MSCO
Equal Weight
Intel investors should ask tough questions of new CEO, says Morgan Stanley
Morgan Stanley analyst Joseph Moore said "sell-side analysts are not qualified to be CEOs, as much as it is fun to pretend" and that he is "not arrogant enough to believe that [he has] the definitive right answer" to the tough questions that will face the new CEO at Intel. Those include which of Intel's core competencies should the company build around; how to balance a focus on the core processor business and adjacencies versus expanding the scope of the business; what is the right path for Mobileye; what is the right path for Altera; and what is the right level of R&D and capital spending? However, he thinks that investors should be asking those tough questions about Intel's recent pursuit of a strategy of driving growth outside of the core business and Moore believes there is substantial opportunity to unlock value. The analyst, who said he is generally more optimistic than consensus about the long-term impact of the 10 nm delay on the core business, keeps an Equal Weight rating on Intel shares.
ASML ASML
$171.82

-0.21 (-0.12%)

09/04/18
SUSQ
09/04/18
NO CHANGE
Target $240
SUSQ
Positive
ASML estimates reduced to reflect consolidation environment at Susquehanna
Susquehanna analyst Mehdi Hosseini lowered his estimates on ASML to reflect the consolidating landscape. He lowered his EUV shipment forecast for 2019-2020 but still believes in the company's long-term growth prospects, although he said the lower EV shipment could lead to some near-term volatility. Hosseini believes its November analyst day will be a catalyst and he reiterated his Positive rating and $240 price target on ASML shares.
09/10/18
STFL
09/10/18
NO CHANGE
STFL
Stifel maintains near-term outlook on WFE despite KLA-Tencor comments
Stifel analyst Patrick Ho attributes last week's sharp selloff in semiconductor capital equipment stocks to comments made by KLA-Tencor's (KLAC) management regarding additional push-outs coming from the DRAM space. Following KLA-Tencor comments that DRAM suppliers had "pushed out" the timing of some initial tool deliveries into the first half of calendar 2019, Ho said his checks suggest that these push outs are coming from multiple players, one of which had already been hinted at earlier. Given potential DRAM push outs, some of which were already factored into his current forecast, Ho believes 2018 WFE could end up between $48-$50B, which he notes would be up slightly from $47.5B in 2017. For 2019, his current WFE forecast calls for $53B-$55B, or up 5%-10%, which Ho said he will maintain for now. His preferred semi capital equipment names are Applied Materials (AMAT), MKS Instruments (MKSI) and Ichor Holdings (ICHR), on all of which Ho has Buy ratings. Others in the space include Lam Research (LRCX), ASML (ASML), Teradyne (TER) and Kulicke & Soffa (KLIC).
09/24/18
NWST
09/24/18
UPGRADE
NWST
Buy
ASML upgraded to Buy from Neutral at New Street
09/24/18
SBSH
09/24/18
NO CHANGE
SBSH
Buy
Citi takes Applied Materials off Focus List, makes KLA-Tencor top U.S. pick
Citi analyst Atif Malik removed Applied Materials (AMAT) from his firm's US Focus List citing a lack of near-term catalysts but keeps a Buy rating on the shares. He remains positive on the company's diversification. The move comes after Citi cut its wafer fab equipment estimate for 2019 to $44B, down 14% year-over-year, from a prior estimate of $53B on memory oversupply in 2019, particularly NAND. Further, equipment makers have initiated hiring freezes and shutdowns recently which show low confidence going into 2019, Malik tells investors in a research note. He models equipment shipments to decline thru Q2 of 2019 on weak memory pricing, which he says will force memory capex to be more second half of the year loaded. The analyst expects 2020 WFE to "recover sharply," keeping him constructive on the group 12-18 months out. Malik likes ASML (ASML) in Europe and moves KLA-Tencor (KLAC) to his top pick in the U.S. He also likes Teradyne (TER) and Entegris (ENTG).

TODAY'S FREE FLY STORIES

SCG

Scana

$36.46

-4.43 (-10.83%)

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Dominion

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SCANA says SC judge indicated no final decision has been reached »

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UBS LatAm Equity Research Analyst to hold an analyst/industry conference call »

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NKTR

Nektar

$40.00

-8.23 (-17.06%)

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Roche

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Nektar Therapeutics plunges as Roche data seen as concern »

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Roche

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LLY

Eli Lilly

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BMY

Bristol-Myers

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SCG

Scana

$36.13

-4.76 (-11.64%)

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Caterpillar

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Second day of interest in Caterpillar weekly puts ahead of earnings »

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SLM

Sallie Mae

$10.57

-0.01 (-0.09%)

15:19
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15:19
Options
Sallie Mae options imply 6.3% move in share price post-earnings, above median historical move »

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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

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NASDAQ market internals summary »

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$NYE

NYSE Market Internals

$0.00

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NYSE market internals summary »

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RL

Ralph Lauren

$127.64

4.15 (3.36%)

15:15
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Options
Ralph Lauren put volume heavy and directionally bearish »

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  • 06

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General news
Treasury Closing Summary: »

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AJG

Arthur J. Gallagher

$72.68

-0.005 (-0.01%)

15:10
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15:10
Hot Stocks
Arthur J. Gallagher acquires Richter International Consulting, terms undisclosed »

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UBSFY

Ubisoft

$0.00

(0.00%)

, EA

Electronic Arts

$101.96

-0.11 (-0.11%)

15:07
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15:07
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15:07
Periodicals
EA Motive founder Raymond to leave company, VentureBeat reports »

EA Motive (EA) studio…

UBSFY

Ubisoft

$0.00

(0.00%)

EA

Electronic Arts

$101.96

-0.11 (-0.11%)

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  • 30

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VAR

Varian Medical

$103.96

-0.285 (-0.27%)

15:06
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Conference/Events
Varian Medical to host investor meeting »

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  • 23

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CDNS

Cadence Design

$40.68

0.55 (1.37%)

15:04
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15:04
Options
Cadence Design options imply 7.0% move in share price post-earnings, above median historical move »

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FDC

First Data

$23.19

-0.22 (-0.94%)

15:03
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First Data to refinance revolving credit facility and certain other indebtedness »

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CSBR

Champions Oncology

$12.10

-0.61 (-4.80%)

15:00
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Conference/Events
Champions Oncology management to meet with Craig-Hallum »

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SCG

Scana

$36.09

-4.8 (-11.74%)

, D

Dominion

$73.39

-0.135 (-0.18%)

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SC senator: Law on nuclear construction to be deemed unconstitutional, CBJ says »

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Scana

$36.09

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SCG

Scana

$36.43

-4.46 (-10.91%)

, D

Dominion

$73.29

-0.235 (-0.32%)

14:55
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Periodicals
Breaking Periodicals news story on Scana, Dominion »

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SCG

Scana

$36.43

-4.46 (-10.91%)

D

Dominion

$73.29

-0.235 (-0.32%)

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SYMC

Symantec

$19.73

0.06 (0.31%)

14:50
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14:50
Options
Sweep buyer of Symantec call options »

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AMTD

TD Ameritrade

$50.05

-0.44 (-0.87%)

14:49
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14:49
Options
TD Ameritrade options imply 5.8% move in share price post-earnings, above median historical move »

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MRBK

Meridian Bank

$17.01

(0.00%)

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Meridian Bank names Randy J. McGarry chief information officer »

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KKR

KKR

$24.01

-0.21 (-0.87%)

14:35
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Options
KKR put volume heavy and directionally bearish »

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  • 25

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AU

AngloGold

$9.86

0.05 (0.51%)

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AngloGold says Kibali Gold Mine seen delivering record performance in Q3 »

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FB

Facebook

$155.28

1.33 (0.86%)

, SNAP

Snap

$6.79

-0.03 (-0.44%)

14:32
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OnTheFly
Piper's teen survey bodes well for Instagram, Prime as Apple remains dominant »

Piper Jaffray analyst…

FB

Facebook

$155.28

1.33 (0.86%)

SNAP

Snap

$6.79

-0.03 (-0.44%)

AAPL

Apple

$220.90

1.62 (0.74%)

AMZN

Amazon.com

$1,784.13

20.22 (1.15%)

WMT

Walmart

$97.13

-0.02 (-0.02%)

SSNLF

Samsung

$0.00

(0.00%)

ATVI

Activision Blizzard

$69.71

-0.04 (-0.06%)

EA

Electronic Arts

$102.05

-0.02 (-0.02%)

TTWO

Take-Two

$120.88

-1.62 (-1.32%)

GOOG

Alphabet

$1,103.00

6.59 (0.60%)

GOOGL

Alphabet Class A

$1,112.00

7.34 (0.66%)

ZNGA

Zynga

$4.02

0.01 (0.25%)

GLUU

Glu Mobile

$5.94

0.09 (1.54%)

VFC

VF Corp.

$77.53

-0.21 (-0.27%)

ADDYY

Adidas

$0.00

(0.00%)

LULU

Lululemon

$139.75

2.99 (2.19%)

CROX

Crocs

$19.81

1.32 (7.14%)

SBUX

Starbucks

$58.85

0.22 (0.38%)

CMG

Chipotle

$430.22

1.13 (0.26%)

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FLXN

Flexion

$16.03

-2.93 (-15.45%)

14:29
10/22/18
10/22
14:29
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14:29
Recommendations
Flexion analyst commentary  »

Flexion 'very…

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