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Increased adoption of connectivity and applications within cars could be beneficial to the companies that supply the underlying technology and components.
Texas Instruments Incorporated
Analog Devices, Inc.
TE Connectivity Ltd.
Microchip Technology Incorporated
Maxim Integrated Products, Inc.
ON Semiconductor Corporation
Sensata Technologies Holding PLC
TTM Technologies, Inc.
Delphi Technologies PLC
Garmin International, Inc., a unit of Garmin Ltd. (NASDAQ: GRMN), today announced the oversized dēzl OTR700/800/1000 GPS truck navigators. For a clear view of the road ahead, the new dēzl series features a 7-, 8-, or an extra-large 10-inch display option that can be easily switched from traditional landscape to portrait mode.1 In addition to large, easy-to-read HD touchscreens, the new dēzl series offers industry-best load-to-dock guidance, popular truck routing, and custom truck routing2 for the size and weight of a driver’s rig.
To support cloud, data center and hyperscale computing that facilitates advancements in Artificial Intelligence (AI) and Machine Learning (ML), Microchip Technology Inc. (Nasdaq: MCHP) today released to production its Switchtec™ PAX Advanced Fabric Gen 4 PCIe switch family, enabling complex fabric topologies with greater scalability, lower latency, and higher performance than traditional Peripheral Component Interconnect Express (PCIe) switches.
Stoneridge, Inc. (NYSE: SRI) today announced that Jon DeGaynor, president and chief executive officer, and Bob Krakowiak, chief financial officer, will participate in the UBS Global Industrials and Transportation Virtual Conference with a fireside chat at 2:10 p.m. EST on Tuesday, June 2. Details on how to join the fireside chat via webcast will be posted to the "Investors/Webcasts & Presentations" section of the Company's website (www.stoneridge.com) prior to the presentation.
Brown Advisory recently released its Q1 2020 Investor Letter, a copy of which you can download below. The Large-Cap Growth Fund posted a return of -13.05% for the quarter, outperforming its benchmark, the Russell 1000 Growth Index which returned -14.10% in the same quarter. You should check out Brown Advisory’s top 5 stock picks for […]
Texas Instruments Incorporated (TI) (Nasdaq: TXN) Vice President Dave Pahl will speak at the Bank of America Securities 2020 Global Technology Conference on Wednesday, June 3, at 10 a.m. Pacific time. Pahl, head of Investor Relations, will field questions from analysts and investors, as well as discuss TI's business outlook and its strategy to address key markets for its analog and embedded processing technologies and how these capabilities position the company for growth.
The Senior Secured Notes will bear interest at an annual rate of 2.670 percent and the Senior Notes will bear interest at annual rate of 4.250 percent. Any remaining net proceeds from the offering of the Notes will be used for general corporate purposes, which may include the repayment of a portion of the amounts outstanding under Microchip’s revolving credit facility.
Maxim Integrated Products, Inc. (NASDAQ:MXIM) announced today that Brian White, Chief Financial Officer will be presenting at the Bank of America Securities 2020 Global Technology Conference, held virtually. The presentation is scheduled to begin at 8:30 a.m. Pacific Time/11:30 a.m. Eastern Time on Wednesday, June 3, 2020. Interested parties can listen to a live audio webcast at http://investor.maximintegrated.com/BofATech2020. A replay of the audio webcast will be available for 90 days at the same location.
The global case tally from the coronavirus that causes COVID-19 climbed above 5.5 million on Tuesday, as the World Health Organization warned of the possibility of an immediate “second peak” in infections from the current wave, if countries and local governments ease measures to contain the spread too soon.
Moody's Investors Service ("Moody's") affirmed the Ba1 corporate family rating and Baa3 senior secured rating of Microchip Technology Inc. ("Microchip") following the company's announcement that it has agreed to exchange $1.2 billion in aggregate principal amount of senior unsecured convertible notes and fund the cash portion of the exchange with a $1.2 billion senior unsecured note. Concurrently, Microchip is offering a new $1 billion secured note with proceeds partly used to refinance a $615 million, 364 day secured bridge facility. Remaining proceeds may be used to reduce revolving credit outstanding and for general corporate purposes.
Finding a reliable stock strategy is a key to sanity in this Age of Coronavirus. The pandemic has pushed governments to impost extreme economic shutdown orders, as part of a larger society ‘stay at home’ policy. The result has been a stoppage of business, a decline in earnings, and a sudden sharp turn from steady economic growth to a deep recessionary event, perhaps even a Depression. And so, for investors, a reliable stock strategy is both necessary and hard to find.One strategy is to follow the insiders. Insiders are the corporate officers and board members charged with running and overseeing public companies. Their positions give them access to information that’s not always available to the general public. To keep the playing field honest, Federal regulators require that insiders publish their trades – and that information can be used by the general public for trading purposes.When the insiders make large purchases, laying down large sums for hefty blocs of shares, it can be taken as a clear sign of confidence. So following their purchases is a viable strategy for finding potentially profitable stock plays.TipRanks has the tools to help you do just that. The Insiders’ Hot Stocks page shows which stocks top insiders are most active on, for both purchases and sales. You can sort insider trades by a variety of filters, including trading strategy. We’ve done some of the legwork for you, and pulled up three stocks with recent informative buy-side transactions. Here are the results.Microchip Technology (MCHP)We’ll start in the semiconductor chip industry. Microchip is a major name in the industry, boasting a market cap of $21.5 billion and the sixth largest sales share among its peers. The company’s focus is on microcontroller and microprocessor chips for memory solutions, power managements apps, and wireless connection devices. These are essential components in today’s digital world – Microchip never has a problem finding customers.Two important company officers have bought up large blocs of shares in recent days. First up was Steve Sanghi, CEO and Chairman, who put down $3.1 million to buy 37,000 shares. Also buying shares was Senior VP Richard Simoncic, who bought over 6,000 shares for more than $501K. This is a substantial fraction of his total $4.8 million holding.The calendar Q1 performance shows the company’s quality. MCHP reported strong EPS, of $1.46, beating the forecast by over 6%. Revenues, while missing the estimates, did grow over 3% sequentially, to $1.33 billion. Management attributed the mixed results to the impact of coronavirus on demand – weak demand in the automotive, industrial, and consumer segments meant that those manufacturers in turn had weak demand for Microchip’s products. At the same time, communication and data center demand grew, as a direct result of the move toward remote office work and customer service.Writing on the stock for Piper Sandler, 5-star analyst Harsh Kumar notes that Microchip’s forward guidance was squarely in line with expectations, and that the company is taking a cautious approach to the 2020 sales environment. Kumar writes, “Looking to the mid and long-term, we continue to like Microchip, as it remains one of the best positioned and most profitable semiconductor companies. Even in the current environment, free cash flow and debt pay down were both exceptional.”Kumar places a Buy rating on MCHP shares, and that backs that with a $120 price target suggesting a 36% upside potential for the coming 12 months. (To watch Kumar’s track record, click here)The Strong Buy analyst consensus rating on this stock is based on 16 reviews, including 13 Buys and 3 Holds. Shares are priced at $87.81, while the average target of $102.56 implies a 16% upside potential. (See Microchip stock analysis on TipRanks)Arconic (ARNC)Last on today’s list is Arconic, a name you may not have heard of in its current incarnation. This company is a spin-off from the aluminum giant Alcoa. Arconic became an independent entity, controlling the parent company’s bauxite and aluminum operations, last November. The new company’s focus is lightweight metals engineering and precision manufacturing. Arconic’s products are used in the aerospace, automotive, commercial transport, defense, electronics, and oil and gas fields. Arconic is particularly well-known for turbine blades. ARNC shares started trading this past March. Since it opened trading less than three months ago, ARCN shares are up 46%.In recent days, no fewer than 5 of Arconic’s insiders have bought up blocs of shares. The prices paid ranged from $114,000 to $346,000. The two largest purchases were by directors: William Austen bought 17,620 shares for $202,000, and Frederick Henderson bought 33,200 shares for $346,000. These purchases are a clear indicator for investors that this company’s officers are confident in its future.Also confident is Credit Suisse analyst Curt Woodworth, who writes, “ARNC is a high-quality producer of aluminum alloy rolled products with significant leverage to secular growth in automotive and packaging, and a LT recovery in aerospace. We see 3Q as a major inflection point as Ford and GM truck / SUV production sharply accelerates and OEMs need to restock heat-treat plate, which has limited shelf life.”Woodworth puts a $22 price target on ARNC shares, implying a strong 71% upside as he initiates coverage on this new industrial stock. (To watch Woodworth’s track record, click here)While ARNC has only two recent reviews (it is a new stock, after all), they combine to a Moderate Buy rating. Shares are selling for $12.84, after two months of solid gains, and the average price target of $19.50 suggests the stock has room for a 51% upside this year. (See Arconic stock analysis on TipRanks)Clipper Realty, Inc. (CLPR)Next up is a real estate investment trust (REIT). These companies typically offer investors a solid combination of firm financial and reliable dividends. Clipper Realty owns, manages and operates commercial properties and multi-family residential (that’s apartments) properties, in and around the New York City area.Two insiders have made informative buys here in the past 7 days. The larger purchase was by David Bistricer, a director of the company. He bought up 106,666 shares for $611,000. His Board colleague, Sam Levinson, made a smaller purchase of 14,334 shares, paying over $82,000. CLPR showed $30.9 million in revenue for Q1 2020, up more than 11% from the year before. Net operating income, at $17.1 million, was a company record – but better for investors, was also up 16% year-over-year. The strong income supported a dividend of 9.5 cents per share for the quarter. CLPR’s dividend has been steady for the past three years, and the current payout ratio, of 73%, is a clear attraction for investors interested in an income stock. The yield, at 5.6%, is almost triple the average yield among financial sector peers.The stock has only one recent analyst review, by B. Riley FBR analyst Craig Kucera, but he wears his bullishness on his sleeve. His Buy rating is backed up with a $14 price target – which implies a robust 107% one-year upside potential. (To watch Kucera’s track record, click here)Kucera writes of CLPR, “1Q20 results were ahead of expectations, and April cash rent collections from CLPR's diversified portfolio of residential, office, and retail assets located in the greater NYC metro were at 94%... we believe CLPR's decision to significantly increase its liquidity during a challenging NYC commercial real estate environment related to COVID-19 was prudent.”To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.
Microchip Technology Inc. said Tuesday it is planning to issue $2.2 billion worth of bonds to raise the funds needed to repay a senior secured bridge loan and finance the cash portion of an exchange of convertible bonds. The Chandler, Ariz.-based company said it will issue $1.0 billion of senior secured notes, and $1.2 billion of senior notes. Shares were up 2.4% premarket but are down 16% in the year to date, while the S&P 500 has fallen 9%.
CHANDLER, Ariz., May 26, 2020 -- Microchip Technology Incorporated (NASDAQ: MCHP) (“Microchip,” “we” or “our”) announced today that it has commenced offerings of $1.0 billion.
In this article we are going to estimate the intrinsic value of Maxim Integrated Products, Inc. (NASDAQ:MXIM) by...
Analog Devices, Inc. (Nasdaq: ADI) today announced that the Company’s President and Chief Executive Officer, Vincent Roche, will speak at Bernstein’s 36th Annual Strategic Decisions Conference to be held virtually on Wednesday, May 27, 2020, at 11:00 a.m. Eastern time.
Aoris Investment Management recently released its Q1 2020 Investor Letter, a copy of which you can download below. The Aoris International Fund aims to generate returns of 8–12% p.a. over a market cycle. The portfolio is long-only and highly selective. You should check out Aoris Investment Management’s top 5 stock picks for investors to buy right […]
ON Semiconductor (NASDAQ: ON), driving energy efficient innovations, today announced the appointment of Bernard ("Bernie") R. Colpitts, Jr. as chief accounting officer of ON Semiconductor Corporation and its wholly-owned subsidiary, Semiconductor Components Industries, LLC ("SCILLC"), and vice president, finance of SCILLC. Colpitts was previously senior vice president and chief accounting officer at GameStop Corp., a video game retailer headquartered in Texas.
One important metric to look for in a stock is an 80 or higher Relative Strength Rating. Analog Devices cleared that benchmark Thursday, with a jump from 71 to 81 Thursday. When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
A caller on Wednesday to "Mad Money" asked host Jim Cramer about TE Connectivity Ltd. . In this daily bar chart of TEL, below, we can see that prices were cut in half in the February to March coronavirus decline. The daily On-Balance-Volume (OBV) bottoms in March with prices and has rallied since and tells us that buyers of TEL have been more aggressive.
Texas Instruments (TXN) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.