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SMTC

Semtech

$52.55

1.25 (2.44%)

, ARRS

Arris

$31.64

(0.00%)

04:55
04/11/19
04/11
04:55
04/11/19
04:55

Semtech to replace Arris in S&P 400 at open on 4/11

CommScope Holding (COMM) is acquiring ARRIS International (ARRS) in a deal that was completed on April 4.

SMTC

Semtech

$52.55

1.25 (2.44%)

ARRS

Arris

$31.64

(0.00%)

COMM

CommScope

$25.01

0.54 (2.21%)

SMTC Semtech
$52.55

1.25 (2.44%)

03/18/19
LOOP
03/18/19
NO CHANGE
Target $63
LOOP
Buy
Semtech price target raised to $63 from $60 at Loop Capital
Loop Capital analyst Cody Acree raised his price target on Semtech to $63 and kept his Buy rating, saying the potential for the company to recover in the second half of 2019 is "promising" after a soft patch driven by "slowing global demand environment and ongoing weakness in China". The analyst cites double-digit growth in Semtech's LoRa - or long-range wireless technology - expected to generate $100M-$140M in revenue this year. Acree also points to optical upgrades to 100G as a "solid driver" that should see initial revenue later this year, along with indications that data center customers are expecting orders to pick up in Q2 of this year.
03/14/19
ROTH
03/14/19
DOWNGRADE
ROTH
Neutral
Semtech downgraded to Neutral from Buy at Roth Capital
03/14/19
03/14/19
DOWNGRADE
Target $49

Neutral
Semtech downgraded to Neutral on 'weak outlook' at Roth Capital
As previously reported, Roth Capital downgraded Semtech to Neutral from Buy, with a $49 price target, citing the stock's valuation on revised expectations. The analyst notes that the company reported "solid" Q4 results that were offset by a lagging April outlook. While he had expected weakness in smartphones and a pause in Data Center, the outlook was weaker than expected.
03/14/19
STFL
03/14/19
NO CHANGE
Target $58
STFL
Buy
Semtech long-term trends intact despite industry softness, says Stifel
Stifel analyst Tore Svanberg noted that Semtech's guidance for an 18.8% quarter-over-quarter decline is below the average quarterly decline of its closest comps' March quarter guidance, which he believes is due in part to Semtech's greater smartphone exposure. However, he believes Semtech remains well-positioned with multiple attractive secular growth opportunities, including LoRA, data centers, 4G/5G base stations and industrial/automotive protection. Svanberg keeps a Buy rating and $58 price target on Semtech shares, which are down about 8.5% to $50.75 in pre-market trading.
ARRS Arris
$31.64

(0.00%)

04/02/19
04/02/19
UPGRADE
Target $34

Outperform
CommScope upgraded to Outperform ahead of Arris acquisition at Credit Suisse
As previously reported, Credit Suisse analyst Sami Badri upgraded CommScope (COMM) to Outperform from Neutral ahead of the acquisition deal closure. The analyst cited fundamental strength in the combined business computed in his updated CommScope-Arris (ARRS) merger model with the Arris acquisition expected to close in April 2019. Badri also raised his price target for CommScore's shares to $34 from $20.
12/20/18
FBCO
12/20/18
NO CHANGE
Target $20
FBCO
Neutral
CommScope price target lowered to $20 from $31 at Credit Suisse
Credit Suisse analyst Sami Badri lowered his price target for CommScope (COMM) to $20 from $31, while reiterating a Neutral rating on the shares. The analyst notes that the company's Q3 earnings were below his/Street's expectations and the all cash Arris International (ARRS) deal for $31.75 per share, or a total purchase price of approximately $7.4B including repayment of debt, now has the potential to double the size of the company's market cap.
11/26/18
JEFF
11/26/18
UPGRADE
Target $28.5
JEFF
Buy
Jefferies upgrades CommScope to Buy amid 'terrible' investor sentiment
Jefferies analyst George Notter upgraded CommScope (COMM) to Buy from Hold while lowering his price target for the shares to $28.50 from $30.50. The shares reflect a "too-bearish scenario" for the combined CommScope/Arris (ARRS) company, Notter tells investors in a research note. He highlights "near-trough" valuations, "terrible" investor sentiment, and a pending de-leveraging story as core to his thesis. The analyst believes CommScope's risk/reward is now attractive.
11/26/18
JEFF
11/26/18
DOWNGRADE
Target $31.75
JEFF
Hold
Arris downgraded to Hold from Buy at Jefferies
Jefferies analyst George Notter downgraded Arris (ARRS) to Hold and lowered his price target for the shares to $31.75 from $38. The analyst cites the pending takeover by CommScope (COMM) for the downgrade.
COMM CommScope
$25.01

0.54 (2.21%)

04/03/19
04/03/19
UPGRADE
Target $32

Strong Buy
CommScope upgraded to Strong Buy on deal accretion at Raymond James
As previously reported, Raymond James upgraded CommScope (COMM) to Strong Buy from Outperform and a $32 price target. Analyst Simon Leopold believes the earnings accretion from the pending Arris (ARRS) acquisition is underappreciated and will provide at least 40% accretion versus management's forecast for over 30% and analyst estimates of 25%-43%. Leopold views CommScope as a great way to play the emerging 5G theme and views concerns regarding the antenna business in a 5G world as "wrong."
04/03/19
RAJA
04/03/19
UPGRADE
RAJA
Strong Buy
CommScope upgraded to Strong Buy from Outperform at Raymond James
04/02/19
04/02/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Exelon (EXC) upgraded to Outperform from Market Perform at Wells Fargo with analyst Neil Kalton saying a key tenant to his thesis is that ExGen's nuclear fleet operates through the end of the units' various license extension periods, which will likely require additional policy support. 2. CommScope (COMM) upgraded to Outperform from Neutral at Credit Suisse with analyst Sami Badri citing fundamental strength in the combined business computed in his updated CommScope-Arris (ARRS) merger model with the Arris acquisition expected to close in April 2019. 3. Quest Diagnostics (DGX) and LabCorp (LH) upgraded to Buy from Hold at Jefferies. 4. Hostess Brands (TWNK) upgraded to Buy from Hold at Deutsche Bank with analyst Rob Dickerson saying management execution, a turnaround to profitability in the Chicago bakery and improved pricing could return Hostess to "top-tier revenue growth" this year. 5. Amphenol (APH) upgraded to Buy from Hold at SunTrust with analyst William Stein saying in a world of uncertainty, Amphenol offers more dependable upside. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
04/03/19
04/03/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Urban Outfitters (URBN) upgraded to Buy from Neutral at DA Davidson with analyst John Morris saying the data showcase the company's "green shoots in improving pricing architecture at the Anthropologie division with stronger pricing and lower markdown cadence at the Urban division." 2. Intelsat (I) upgraded to Overweight from Neutral at JPMorgan with analyst Philip Cusick saying the stock has declined 28% year-to-date and 38% since February 27 when a "slew of headlines all but halted" the C-Band Alliance's momentum in D.C. 3. e.l.f. Beauty (ELF) upgraded to Buy from Hold at Jefferies with analyst Stephanie Wissink saying he believes the company's improved merchandising focus will drive a "meaningful reversal" in sales trends. 4. Enterprise Products (EPD) upgraded to Buy from Neutral at Goldman Sachs with analyst Michael Lapides citing the company's improving cash flow, exposure to key themes that include a "leading position in crude oil and NGL exports," and its position as "one of the more integrated infrastructure portfolios within the sector," extending its footprint "further downstream than most midstream companies." 5. CommScope (COMM) upgraded to Strong Buy from Outperform at Raymond James with analyst Simon Leopold saying he believes the earnings accretion from the pending Arris (ARRS) acquisition is underappreciated and will provide at least 40% accretion versus management's forecast for over 30% and analyst estimates of 25%-43%. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

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