4 Semiconductor Earnings To Watch This Week

by Benzinga Staff
October 30, 2017 8:24 AM | 2 min read | Make a Comment

27% profit every 20 days?

This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.

Four of the biggest semiconductor stocks are scheduled to report their earnings this week and what investors can expect, according to KeyBanc's

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Integrated Device

  • Integrated Device Technology Inc (NASDAQ:IDTI) will report its third-quarter results Monday.
  • The company is expected to report in-line results with "solid" guidance.
    • The company benefited in the quarter from stabilized demand trends in China's wireless infrastructure, the roll out of IoT and 4.5G deployments.
  • Yinh maintains an Overweight rating on Integrated Device's stock with an unchanged $30 price target (17x fiscal 2019 estimated EPS of $1.77) which is currently under review pending the earnings report.

    • Cavium Inc

    • Cavium Inc (NASDAQ:
    CAVM) will report its third-quarter results Wednesday.
  • Cavium is expected to report "solid" near-term results and guidance.

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  • Similar to Integrated Device, Cavium's quarter was favorable from stabilizing Chinese wireless infrastructure demand trends but also from QLogic and new product ramps.
  • The ramp of LiquidSecurity will likely be incremental to the financials.
  • Yinh maintains an Overweight rating on Cavium's stock with an unchanged $80 price target (23x 2018 estimated EPS of $3.51).
    • Related Link: Sizing Up Semiconductor ETFs For 2018

    Qorvo

  • Qorvo Inc (NASDAQ:QRVO) will report its third-quarter results Wednesday.
  • Qorvo is expected to report "solid" results and an in-line guidance.
  • The company likely benefited from "modest" share gains at SAmsung and in China smartphones but this will be slightly offset from a "more muted" smartphone demand.
    • Apple Inc. (NASDAQ:AAPL) will likely be looking to ramp its long-lead time component suppliers to resolve potential iPhone X supply constraints.
  • Yinh maintains a Sector Weight rating on Qorvo's stock with a fair value range of $70 to $75 per share (11x estimated 2019 EPS $6.56).

    • Cirrus Logic

    • Cirrus Logic, Inc. (NASDAQ:CRUS) is scheduled to report its third-quarter results Thursday.
    • Cirrus is expected to report "solid" results and in-line guidance despite iPhone X related supply constraints.
    • Apple will likely be looking to build a component inventory if it resolves any ongoing supply constraints.
    • But until iPhone X demand catches up with demand there is likely to be limited near-term catalysts for not only Cirrus Logic but the entire Apple supply chain.
    • Yinh maintains an Overweight rating on Cirrus Logic's stock with an unchanged $70 price target (14x estimated 2019 EPS of $4.93).
    Related Link: 4 Semiconductor Stocks Fund Managers Are Buying Most

    27% profit every 20 days?

    This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.

    Posted In: Analyst ColorEarningsLong IdeasNewsGuidancePreviewsReiterationAnalyst RatingsTechTrading IdeasiPhoneiPhone Supply ConstraintsiPhone XJohn YinhKeyBancsemiconductor

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