Ribbon Communications management to virtually meet with Jefferies » 13:5108/0708/07/20
Virtual Meeting to be…
Virtual Meeting to be held on August 11-12 hosted by Jefferies.
InterDigital reports Q2 EPS 72c, consensus 64c » 08:4908/0608/06/20
Reports Q revenue $85.2M,…
Reports Q revenue $85.2M, consensus $99.34M. "Delivering double-digit revenue growth in a quarter marked by a global pandemic clearly has demonstrated the incredible strength and stability of our business and our ability to execute. That resilience, backed by a strong balance sheet, allows us to remain focused on our long-term strategic priorities and combined opportunities in wireless and consumer electronics licensing," said William J. Merritt, President and CEO of InterDigital. "In light of the pandemic, our focus also remains on the well-being of our employees and the safety of our communities, whom we have supported through the donation of PPEs, as well as monetary donations."
Advanced Energy upgraded to Buy from Neutral at DA Davidson » 07:5108/0608/06/20
DA Davidson analyst…
DA Davidson analyst Thomas Diffely upgraded Advanced Energy to Buy from Neutral with a price target of $90, up from $65. The analyst is citing his increased confidence around the company's being able to execute amid a growing demand environment and its easing supply disruptions. Diffely adds that his April downgrade of the stock was rooted in demand uncertainty and supply disruptions, but he sees these concerns having been largely alleviated.
Advanced Energy upgraded to Buy from Neutral at DA Davidson » 06:4208/0608/06/20
DA Davidson analyst…
DA Davidson analyst Thomas Diffely upgraded Advanced Energy to Buy from Neutral with a $90 price target.
Fly Intel: After-Hours Movers » 18:4808/0508/05/20
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Check out this evening's…
AVCtechnologies to acuire Ribbon's Kandy Communications business » 17:1808/0508/05/20
American Virtual Cloud…
American Virtual Cloud Technologies (AVCT) and Ribbon Communications (RBBN) announced they have entered into a definitive agreement for AVCtechnologies to acquire Kandy Communications, "an industry-leading proprietary, multi-tenant, highly scalable cloud communications platform," from Ribbon, in an all-stock transaction. Upon closing, the senior leadership team of Kandy and its personnel, composed of talented business and technology professionals, are expected to join AVCtechnologies. Under the agreement, AVCtechnologies will issue 13M shares of its common stock to Ribbon Communications. The transaction is expected to close in the second half of 2020 and is subject to standard regulatory review and receipt of the approval of AVCtechnologies' stockholders, AVCtechnologies' completion of an equity offering, as well as other customary closing conditions.
Ribbon Communications reports Q2 non-GAAP EPS 6c, consensus 5c » 17:1408/0508/05/20
Reports Q2 revenue $210M,…
Reports Q2 revenue $210M, consensus $222.48M. "We are pleased with our Q2 financial results during these challenging times. Demand for our industry leading voice-over-IP real-time communications solutions was strong as service providers and enterprises continue to increase capacity to support work-from-home communication and collaboration needs. We also began to see a recovery in our Packet Optical business compared to our Q1 as customers restarted delayed projects and initiated new deployments," said CEO Bruce McClelland.
Advanced Energy sees Q3 EPS $1.15, +/- 25c, consensus 74c » 07:3708/0508/05/20
Sees Q3 revenue $350M,…
Sees Q3 revenue $350M, +/- $25M, consensus $307.59M.
Advanced Energy reports Q2 EPS $1.18, consensus 81c » 07:3608/0508/05/20
Reports Q2 revenue $340M,…
Reports Q2 revenue $340M, consensus $318.21M. "In Q2 we delivered record revenue with margins, earnings, and cash flow generation above expectations. As a pure play power leader, we are leveraging our operational excellence and market share gains, delivering on accelerating demand in many of our markets, and realizing the benefits of the Artesyn integration," said CEO Yuval Wasserman. "While visibility and operating conditions remain difficult due to COVID-19, we are executing our growth strategy ahead of plan."
MaxLinear price target raised to $35 from $30 at Roth Capital » 13:5808/0308/03/20
Roth Capital analyst Suji…
Roth Capital analyst Suji Desilva raised the firm's price target on MaxLinear (MXL) to $35 from $30 and keeps a Buy rating on the shares after the company announced it has closed on its acquisition of Intel's (INTC) Home Gateway Platform Division. Desilva expects the connected home gateway asset acquisition to drive increased scale and connectivity product portfolio breadth and has updated estimates for the expected $85M in incremental quarterly revenue contribution from the deal in the intermediate-term.