ANADIGICS Inc. (ANAD) recently reported revenues of $36.7 in the third quarter of 2009, down 36.8% year over year but up 16.7% sequentially. The reported revenue surpassed management guidance of revenue growth at 5%–10%.  The revenue growth was driven by a boost in the company’s 3G wireless products as well as an earlier than expected recovery in both cable TV and WLAN revenues. Cable set-top box products increased and wireless LAN products jumped 65% sequentially.  Gross margin improved significantly to 24.4% from 10.7% in the previous quarter primarily due to the increased revenue, higher factory utilization and improved yields. Operating expenses increased by $600,000 to $15 million from last quarter on higher R&D cost attributable to new products. Net loss per share came in at 10 cents better than the Zacks Consensus Estimate of a loss of 15 cents.  The company recently announced a foundry ...

Conexant Systems Inc. (CNXT) recently announced that Oppenheimer & Co. Inc, the underwriter for its recently concluded public offering of 7,000,000 shares, exercised its option to purchase an additional 1,050,000 shares. As a result of this exercise, Conexant was able to sell a total of 8,050,000 shares at a price of $2.85 per share. After deducting the underwriting discount and estimated offering expenses, Conexant received approximately $21.2 million from the allotment of the shares. Conexant had earlier granted Oppenheimer & Co Inc a 30-day option to purchase up to 1,050,000 additional shares to cover over-allotments. Conexant intends to use the net proceeds from the offering for general corporate purposes. Management has stated that the company will use all proceeds to strengthen its balance sheet by retiring debt. Conexant had already announced plans to retire $80 million in the aggregate principal amount of floating-rate senior secured notes ...

ANADIGICS, Inc. (ANAD) recently announced a strategic agreement with WIN Semiconductors Corp., for the design and manufacture of Gallium Arsenide microwave monolithic integrated circuits (MMIC). Gallium Arsenide (GaAs) ICs are used in wireless handsets and data devices that allow people to connect and communicate everywhere. ANADIGICS is headquartered in Warren, NJ. The company designs and manufactures semiconductor solutions for the broadband wireless and wireline communications markets.  WIN Semiconductors Corp. is one of the world's largest pure-play GaAs foundries. WIN has agreed to provide ANADIGICS with GaAs foundry processing services to meet customer demand for its high-performance, radio frequency integrated circuits (ICs). This foundry relationship is a key component of ANADIGICS' new hybrid manufacturing strategy. Together with its in-house manufacturing facility, the company can continue to deliver best-in-class RF devices to the wireless and broadband marketplaces. In 2008, ANADIGICS lost significant market share (primarily at Samsung) ...

Micron Technology Inc. (MU), a provider of advanced semiconductor solutions fourth-quarter of 2009 earnings beat the Zacks Consensus Estimate by 9 cents. The company posted a net loss of 10 cents per share, much better than the 45 cents loss reported in the year-ago period and 36 cents in the previous quarter as demand and price for memory chips improved. Revenue for the quarter was $1.30 billion, down 10.1% from the year-ago period. However, revenue was above the consensus estimate of $1.27 billion and increased sequentially by 17.7%. We remain encouraged by the company’s continued cost reduction initiatives while pursuing strategic alternatives with tighter capital expenditures and operating expenses. During the quarter operating expenses declined 19.3%, primarily due to lower R&D expenses which fell 16.8%, and lower SG&A expenses which declined 23.4% year over year. Micron’s memory and image-sensing chips are used by International Business ...

Conexant Systems (CNXT) announced that it will offer seven million shares of its common stock in an underwritten public offering. The company also stated that it would grant Oppenheimer & Co Inc, the underwriter for the offering, a 30-day option to purchase up to 1.05 million additional shares to cover over-allotments. The company plans to use the net proceeds of the offering for general corporate purposes which include repaying, redeeming, or repurchasing existing debt, and for working capital, capital expenditures, and acquisitions. Headquartered in Newport Beach, CA, Conexant Systems designs and develops semiconductor solutions that enable consumers to access the digital world. It operates in an intensely competitive market with many rivals in and outside the United States, including Analog Devices (ADI), Broadcom Corp. (BRCM) and Texas Instruments (TXN). Last month, Conexant sold its Broadband Access product lines to Ikanos Communications Inc. for ...

Conexant Systems Inc. (CNXT) recently completed the sale of its Broadband Access product lines to Ikanos Communications Inc. for $54 million. Conexant received about $47 million in cash, while the remaining payment is subject to an escrow to be released in one year. The company expects to record a gain of approximately $35 million in the current quarter from the sale.

With the sale of its broadband access business, the company completed a major part of its restructuring and now plans to concentrate solely on providing solutions for imaging, audio, video and various embedded-modem applications.

Management said that the company will use all proceeds to strengthen its balance sheet by retiring debt. Conexant had already announced plans to retire $80 million aggregate principal amount of floating rate senior secured notes due in November 2010. It will commence a tender offer for $73 million notes and intends to buy

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Applied Micro Circuits Corp. (AMCC) recently reported revenues of $45.1 million in its fiscal first quarter, up 10% sequentially but down 26% year over year.

Gross margin came in at 50.8% compared to 46.7% in the previous quarter and 53.5% in the year-ago quarter. Operating expenses declined 30.1% sequentially and 13.0% year over year.

On a GAAP basis, net loss from continuing operations came in at $2.8 million or 4 cents per share. On a non-GAAP basis, net income came in at $0.9 million or 1 cent per share. 

Earlier in the quarter, Applied Micro Circuits completed the sale of its 3ware storage adapter solutions business to LSI Corp. (LSI) for approximately $20.8 million. The company had expected that the acquisition of 3ware storage adapter solution business (in 2004) would strengthen the company’s position in SATA based RAID controllers. However, management stated that the customer base, the product requirements and the

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PennyOmega.com Stock Report!

PennyOmega.com Hot Stock News & Alerts!

 

Tuesday August 18, 2009

PennyOmega.com Stock Report!

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Symyx Technologies, Inc. (Nasdaq:SMMX) today announced that Symyx Available Chemicals Directory (ACD) has moved from quarterly to monthly updates of supplier catalogs. Continuously improving the update frequency of ACD enables scientists to identify the optimal set of compounds for their synthesis or library with increased confidence that those compounds will be available at the indicated prices from the selected suppliers.

The Enterprise Mobility Solutions business of Motorola, Inc. (NYSE: MOT), today announced the Motorola AirDefense Wireless Vulnerability Assessment solution, a patented wireless security technology aimed at proactively assessing the security posture of wireless networks. This innovative solution provides a completely

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DrStockPick.com Stock Alert!

Wednesday July 29, 2009

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MU, Micron Technology Inc. together with its subsidiaries, engages in the manufacture and marketing of semiconductor devices worldwide. Micron is one of the world’s leading providers of advanced semiconductor solutions. Micron’s DRAM and Flash components are used in today’s most advanced computing, networking, and communications products, including computers, workstations, servers, cell phones, wireless devices, digital cameras, and gaming systems.

MU, Micron Technology Inc. 52 Week Low was $1.59, and today hits its 52 weeks High so far, $6.47

Earlier today, Conexant Systems, Inc. (CNXT) announced its filing of a universal shelf registration statement with Securities and Exchange Commission (SEC). After the shelf registration statement is declared effective by the SEC, Conexant will have the option to offer and sell up to $20 million of its common stock, preferred stock, warrants, or any combination of such securities.

Conexant designs and develops semiconductor solutions that enable consumers to access the digital world. The company intends to use the net proceeds from the sale of securities for repaying, redeeming, or repurchasing existing debt. Conexant can also use these proceeds for working capital, capital expenditures and acquisitions.

The balance sheet of the company is highly leveraged. Conexant ended the second quarter with a total debt of $421.1 million against cash balance of $110.3 million. The company operates in an intensely competitive market with big players like Analog Devices (ADI), Broadcom (BRCM)

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