Canaccord Genuity on Hardware: Semis See Growing Momentum Into Q2
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Rating Summary:
24 Buy, 39 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Canaccord Genuity on Technology: Hardware/Semiconductor Devices and Related Technologies - Semis See Growing Momentum Into Q2
Analyst, Bobby Burleson, said, " Recent checks indicate ramping demand for fabless and IDM subcontractors. Orders and revenues for semiconductor outsourced manufacturing partners continue to improve in Q1, as do forecasts for Q2. This is being driven by new model launches scheduled for Q2 for smartphone, ultrabooks and tablets, as well as a recovery for Japanese IDMs and the looming rollout of IvyBridge. We note that contract manufacturers and reference design partners for Intel (Nasdaq: INTC) haven't seen recent changes to the IvyBridge schedule, having been notified of a staggered release back in January. Beneficiaries of improving fundamentals include Broadcom (smartphone traction), Marvell (Nasdaq: MRVL) (HDD supply, TD smartphones) and OmniVision (Nasdaq: OVTI) (ramping 8MP designs). We also see opportunities for AMD (NYSE: AMD) and Intersil (Nasdaq: ISIL) on better than seasonal PC production H1/12."
Analyst, Bobby Burleson, said, " Recent checks indicate ramping demand for fabless and IDM subcontractors. Orders and revenues for semiconductor outsourced manufacturing partners continue to improve in Q1, as do forecasts for Q2. This is being driven by new model launches scheduled for Q2 for smartphone, ultrabooks and tablets, as well as a recovery for Japanese IDMs and the looming rollout of IvyBridge. We note that contract manufacturers and reference design partners for Intel (Nasdaq: INTC) haven't seen recent changes to the IvyBridge schedule, having been notified of a staggered release back in January. Beneficiaries of improving fundamentals include Broadcom (smartphone traction), Marvell (Nasdaq: MRVL) (HDD supply, TD smartphones) and OmniVision (Nasdaq: OVTI) (ramping 8MP designs). We also see opportunities for AMD (NYSE: AMD) and Intersil (Nasdaq: ISIL) on better than seasonal PC production H1/12."
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