Semiconductor Equipment . . . Brooks-PRI Automation announced that it received a multi-site software order from a top U.S. semiconductor manufacturer for its Advanced Productivity Family software solution. The customer selected Brooks- PRI's APF as its worldwide standard for improving productivity in its 300mm and 200mm assembly and test facilities, starting with a facility in Asia. Brooks-PRI's APF Real Time Dispatcher software automates the complex decision logic unique to assembly and test operations, helping to address the crucial issue "What should we work on next?" By monitoring production flow, equipment availability and changing deadlines, and then automatically scheduling jobs in real time, APF can help increase factory output and on-time shipments, thus improving customer satisfaction. According to the customer, Brooks-PRI was selected for a number of reasons: -- Brooks-PRI APF software is already used extensively in the customer's fabs worldwide. -- It is pre-integrated with the customer's systems, can be deployed in a matter of days and has a proven track record of increasing factory productivity. -- It can
be integrated with the customer's Manufacturing Execution System (MES) at each site to provide production reporting/business intelligence, and data feeds for capacity analysis and planning. In addition, by choosing the same APF software as its worldwide standard for advanced assembly and test productivity, the customer can ensure quality and consistency across facilities.
Axcelis Technologies is continuing to see rapid adoption of its multi-wafer GSD Ultra low energy, high current ion implanter, with two additional orders for the system from semiconductor manufacturers in Europe and Asia Pacific. The orders mark the latest in a series of head-to-head competitive wins for Axcelis¡¦ Ultra product line, and demonstrate the increasing need for exceptional productivity and process control in advanced low energy, high current implant applications. Introduced last year, the GSD Ultra has become the preferred high current implant system at chipmakers around the globe by offering a highly productive platform for producing ultra shallow junctions and other advanced transistor structures on a volume scale. Axcelis has installed one system at a fab in Europe; the second system is expected to ship to a chipmaker in Singapore this month. The GSD Ultra employs Axcelis¡¦ new Ultra low energy beamline to shorten implant times, resulting in greater throughput and high current process productivity. The system draws on the benefits of a multi-wafer platform, which provides a short, simple and efficient beamline, and provides the best option for achieving excellent uniformity and process control. An innovative packaging design also provides easy maintenance access and maximum tool uptime.
Semiconductors . . . Agere December Quarter results likely in-line with model of $485 million in revenue and EPS of (0.08). ƒnMarch Quarterly guidance is likely to be down low-to-mid single digits. ƒnDivestiture of the optoelectronic business, seasonal weakness in HDD causing revenue decline ƒ|ƒnStock is undervalued and could respond if company meets or exceeds cash burn goal.
Atera December Quarter results will be in-line to slightly better than flat guidance. The March Quarter guidance is likely to be for low single digit growth. Altera is making progress with new Stratix and Cylcone families, Quartus II design software. ƒnStock is fairly valued, no catalyst in next couple of quarters.
Analog Devices January Quarter results will likely be in line. ƒnApril-ending 2nd quarter likely guidance: flat to slightly up sequentiallyƒ|ƒnASPs likely stable, all major market segments flattish. ƒnView on stock: fairly valued
Conexant Systems December Quarter results should be in-line with guidance of low-single digit growth. ƒnMarch Quarter guidance should be for flat to slightly up revenue. The company¡¦s business should see seasonal weakness in line with the industry. Analyst remain cautious on the stock due to limited visibility in the near term.
Cypress Semiconductor December Quarter results should be in line with downward revised estimates of $174 - $175 million. March Quarter estimates should be flat to slightly up sequentiallyƒ|ƒnPC clocks should be up sequentially in March due to share gains. ƒnWireless handset memory sales likely to be weak until Cypress starts shipping 1T pseudo-SRAM. ƒnStock is fairly valued to undervalued, but we see no near term catalyst.
Fairchild Semiconductor 4th quarter results should be in line with mid-Quarter update of flat to down 3% ƒ| ƒn1st quarter is likely guidance is sequentially down mid-single digitsƒ| ƒnPricing and margins remain an issueƒ| ƒn The view on the stock: fair to undervalued, no catalyst for the stock.
Integrated Circuit December Quarter results should show a Strong Quarter, upside is likelyƒ| The March Quarter likely guidance is sequentially down 3-5%ƒ| ƒnMarket share gains in PC tougher to come by. Other business likely to be seasonally soft until 2nd half. There is potential for inventory overhang following the Springdale build. ƒnView on stock: Solid company, but no catalyst until 2nd half 2003.
Intel December Quarter results should be in the $6.9 ¡V 7 billion range, at the high end of guidance. March Quarter guidance is likely to be flat to down sequentially, with a midpoint of down low single digits. Seasonally weak consumer demand and tepid business demand should lead to normal weakness in first half of 2003. Intel¡¦s challenges include a flattening speed curve, new competition from AMD, slow corporate upgrade cycle. The stock is fairly valued ¡V early corporate upgrade cycle could be a potential catalyst.
Intersil 4th quarter results will be in line with preannouncementƒ|ƒn1st quarter likely guidance is down high single digits due to seasonality and exit of automotive business ƒ|ƒnRamp of 802.11g WLAN products and recordable DVD products a catalyst for 2003. DSL line driver business also seeing some improvement. ƒnView on stock is that it is undervalued.
Lattice Semiconductor December Quarter should be in line with modest growth expectations. ƒnMarch Quarter likely will be up in the low single digits sequentially. ƒnNew ispXPGA, FPSC and ispXPLD products should help its long-term outlook. ƒnLattice is fairly valued to undervalued, but we see no near term catalyst.
Linear Technology December Quarter results: In line with flat guidance. ƒnMarch quarter likely guidance is flat to slightly up sequentiallyƒ| ƒnNotebook PC and consumer were likely positive during 4th quarter. View on stock: Overvalued, a defensive stock.
LSI Logic December Quarter results should be in line with flat sequential guidance. March Quarter guidance is likely to be about flat sequentially. ƒnRecent positive announcements from mid-level storage companies are positive for LSI. LSI should benefit from continued growth in mid-level storage, digital consumer, recordable DVD players. The stock is undervalued, but see no near term catalyst.
Maxim December Quarter results should be in line with flat guidance. ƒnMarch Quarter likely guidance is flat sequentiallyƒ|ƒn Notebook PC and new wireless products were likely positive during 4th quarter. ƒnView on stock is that it is Overvalued, a defensive stock
Micrel 4th quarter results will be in line with flat guidanceƒ|ƒn1st quarter likely guidance is down 3-5% sequentiallyƒ|ƒnPC, wireless handset likely positive during 4th quarter but seasonally down as we start 2003ƒ|ƒnView on stock is fair to undervalued, near breakeven, no catalyst for stock.
Microsemi December Quarter results will be In line with prior guidance, slight possibility of a miss. March quarter likely guidance is down mid-single digits sequentiallyƒ|ƒnGrowth areas (audio, WLAN, medical) are a small portion of revenues and no signs of improvement yet in military/aerospace. ƒnView on stock is fair to undervalued, company operating near breakeven. Management execution remains an issue but military conflict with Iraq a potential catalyst.
Microtune December Quarter results should be in line with guidance of about a 25% sequential decline. March Quarter guidance should be for flat to slightly up sequential growth. ƒnMicrotune¡¦s growth is dependent on improved demand for cable modems and digital cable set-top boxes. The stock is undervalued trading barely above cash per share. ƒnMicrotune could be an attractive acquisition candidate for companies that need good silicon-based RF technology.
PMC-Sierra December Quarter results should be in line with guidance of revenue in the $51 million to $54 million range. March Quarter guidance should be flat to up slightly. ƒ|ƒnThe company¡¦s end markets remain weak and visibility poor. The stock is over-valued and a candidate for profit taking.
Quicklogic December Quarter results should be in line with guidance of a low single digit sequential decline. ƒnMarch Quarter guidance is likely to be for slight sequential growth. ƒnThe company¡¦s ESP strategy has struggled with slow customer adoption during the industry downturn. The stock is fairly valued with no near term catalyst.
Texas Instruments December Quarter results should be in line with upward revised guidance of a 7% sequential decline. March Quarter guidance likely to be flat to slightly down sequentially. ƒnWireless handset demand was likely strong in Q4, should be seasonally down in 1st quarter. ƒnTI has excellent focus on wireless handset, digital consumer, and broadband access vertical markets. ƒnThe company has established market leading positions in DSP and analog building block technology. The stock is fairly valued to undervalued, but we see no near term catalyst.
TriQuint Semiconductor December Quarter results should be in line with guidance of flat to slightly up revenue. March Quarter guidance is likely to be up mid-single digits. The company¡¦s overall end market outlook remains weak, factoring in its optical networking, fixed wireless and basestation business. The company¡¦s product offering is not a strong differentiator and that its competitive positioning is average. Analysts remain cautious on the stock in the near term and see no catalysts in sight.
Vishay Intertechnology ƒnDecember Quarter results should be in line with guidance for a slight sequential decline. ƒnMarch Quarter guidance should be flat to slightly down sequentially. ƒnVishay is benefiting from an improving product mix of active versus passive components. The stock is fairly valued with no near term catalyst.
Xilinx ƒnDecember Quarter results should be in-line or slightly better than low single digit sequential guidance. ƒnMarch Quarter guidance should be for low single digit growth. ƒnXilinx has maintained its strong competitive position with a rich pipeline of new products. The stock is fairly valued with no near term catalyst.
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