Deutsche Bank on Semiconductors: Q2 Preview - Trimming Estimates on Weaker Macro
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Rating Summary:
23 Buy, 25 Hold, 6 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 21 | Down: 24 | New: 29
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Deutsche Bank on Semiconductors: Q2 Preview - Trimming Estimates on Weaker Macro
Analyst, Ross Seymore, said, "While we believe semi co's will report 2Q12 results that are generally in-line with DB ests, we are trimming our 3Q12 ests for the majority of co's under coverage to reflect the weaker macro environment. The muted slope of this recovery will demand investor patience, but we maintain our Overweight stance on the semi sector as we see q/q growth continuing in 2H12 and view both sector-wide inventory and valuation as attractive."
For Buy-rated Intel (Nasdaq: INTC), Seymore sees Q2 revenues of $13.617B and EPS of $0.52. Q3 revenues lowered from $14.951B to $14.710B and EPS lowered from $0.67 to $0.65.
For Buy-rated Avago (Nasdaq: AVGO), Q2 revenue estimate is $605.6M and EPS is $0.64. Q3 revenue estimates lowered from $649M to $637M and EPS from $0.74 to $0.72.
For Buy-rated Broadcom (Nasdaq: BRCM), Q2 revenue estimate is $1.953B and EPS of $0.68. Q3 revenue estimate lowered from $2.121B to $2.086B and EPS from $0.80 to $0.78.
For Buy-rated Fairchild (NYSE: FCS), Q2 revenue estimate is $370.9M and EPS of $0.17. Q3 revenue estimates lowered from $407M to $397M and Q3 EPS lowered from $0.32 to $0.30.
For Buy-rated Power Integration (Nasdaq: POWI), Q2 revenue estimate is $81.1M and $0.45. Q3 revenue estimate lowered from $91M to $89M and Q3 EPS estimate cut from $0.91 to $0.89.
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Analyst, Ross Seymore, said, "While we believe semi co's will report 2Q12 results that are generally in-line with DB ests, we are trimming our 3Q12 ests for the majority of co's under coverage to reflect the weaker macro environment. The muted slope of this recovery will demand investor patience, but we maintain our Overweight stance on the semi sector as we see q/q growth continuing in 2H12 and view both sector-wide inventory and valuation as attractive."
For Buy-rated Intel (Nasdaq: INTC), Seymore sees Q2 revenues of $13.617B and EPS of $0.52. Q3 revenues lowered from $14.951B to $14.710B and EPS lowered from $0.67 to $0.65.
For Buy-rated Avago (Nasdaq: AVGO), Q2 revenue estimate is $605.6M and EPS is $0.64. Q3 revenue estimates lowered from $649M to $637M and EPS from $0.74 to $0.72.
For Buy-rated Broadcom (Nasdaq: BRCM), Q2 revenue estimate is $1.953B and EPS of $0.68. Q3 revenue estimate lowered from $2.121B to $2.086B and EPS from $0.80 to $0.78.
For Buy-rated Fairchild (NYSE: FCS), Q2 revenue estimate is $370.9M and EPS of $0.17. Q3 revenue estimates lowered from $407M to $397M and Q3 EPS lowered from $0.32 to $0.30.
For Buy-rated Power Integration (Nasdaq: POWI), Q2 revenue estimate is $81.1M and $0.45. Q3 revenue estimate lowered from $91M to $89M and Q3 EPS estimate cut from $0.91 to $0.89.
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