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Tech Investors: Keep An Eye On These 7 Coming Earnings Reports

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Brean Capital commented on tech companies ahead of earnings in a report issued on Friday.

Below are the stocks along with ratings, price targets, earnings report dates and comments from analyst Mike Burton.

Broadcom Corporation (NASDAQ: BRCM) - Buy, $53 price target - April 21

“We expect March quarter revenues and EPS (ex-items, incl. SBC) in line with the Street and Company guidance of $2.00B/$0.60, representing a 6 percent sequential decline. We believe the Company’s Broadband & Connectivity segment will decline 8 percent sequentially, as the Connectivity business comes off a strong Apple-driven Q4.”

Himax Technologies, Inc. (ADR) (NASDAQ: HIMX) - Hold, no price target - TBD April 27 - May 1

"We expect Q1 results to come in at the low-end of guidance at down 22 percent sequentially, slightly below the Street [with revenue of $179 million and EPS of $0.07]. We believe HIMX’s tier-1 China OEM customers are losing share to whitebox manufacturers (namely Xiaomi) as well as suffering from weak demand due to the strong dollar."

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PMC-Sierra Inc (NASDAQ: PMCS) - Hold, no price target - April 27

“We expect PMCS to report in line with Consensus estimates for the March quarter as Storage and Telecom should both decline on normal seasonality. We are modeled in line with the Street at $133M/$0.09 for revenues and non-GAAP EPS.”

Qorvo Inc (NASDAQ: QRVO) - Buy, $95 price target - TBD April 27 - May 1

“We expect March quarter results to come in slightly above the Street [with revenue of $674 million and EPS of $0.88], which is in line with Company guidance of -16 percent. We expect the beat will be driven mainly by stronger-than-expected iPhone sales offsetting roughly flat China revenues as somewhat tepid Q1 4G growth is offset by 2G/3G rolling off. We also believe Qorvo will be up on the Samsung ramp.”

QUALCOMM, Inc. (NASDAQ: QCOM) - Buy, $87 price target - April 22

“We expect Qualcomm results to come in line with Street estimates with upside to our numbers [of $6.8 billion in revenue with EPS of $1.19]. There has been a lot of negativity regarding share loss at Samsung’s flagship Galaxy S6. We believe the issue is very well understood by investors and may have been fully discounted in QCOM’s guidance.”

Silicon Motion Technology Corp. (ADR) (NASDAQ: SIMO) - Buy, $35 price target - April 28

“We expect SIMO to report in-line results [of $80 million in revenue and EPS of $0.47] for the March quarter based on the Company’s preliminary announcement. We believe the Company’s consumer-embedded SSD controllers are ramping faster than anticipated and will drive flat sequential results. We expect Mobile Storage strength to offset weakness in LTE Transceivers.”

Skyworks Solutions Inc (NASDAQ: SWKS) - Buy, $110 price target - April 30

“We expect Skyworks to report an in-line quarter [with revenue of $754 million and EPS of $1.13] as better-than-expected Apple performance offsets weakness in China and currency-related demand destruction in Emerging Markets. While most of the focus has been on Mobile, we also expect modest growth in the Company’s Broad Markets (Wi-Fi) segment.”

Latest Ratings for BRCM

DateFirmActionFromTo
Jan 2016BernsteinDowngradesOutperformMarket Perform
Oct 2015B. Riley FBRDowngradesBuyNeutral
Aug 2015WedbushDowngradesOutperformNeutral

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