Nvidia Started To Ship Alternatives To The China Market In Small Volumes; Has Not Received Licenses To Ship Restricted Chips Such As A800 And H800 To China.
Nvidia Started To Ship Alternatives To The China Market In Small Volumes Read Post »
Nvidia CEO Says Cannot Keep Up With Demand In The Short Term As We Ramp.
Nvidia CEO Says Cannot Keep Up With Demand In The Short Term As We Ramp Read Post »
The following is a summary of the Analog Devices, Inc. (ADI) Q1 2024 Earnings Call Transcript: Financial Performance: Analog Devices reported Q1 revenue of over $2.5 billion, an 8% sequential decrease and a 23% YoY decline. Gross margins dropped from 74% to 67%, mainly due to increased inventory charges and weak demand across all regions. Nevertheless, there is a potential gross margin upturn linked to revenue pickup in the industrial sector. Operating margins stood at 42% and earnings per share at $1.73, exceeding their outlook. The company returned over $4.2 billion to shareholders via dividends and share repurchases, announcing a 7% dividend increase, marking the 20th consecutive year of dividend growth. Q2 revenue is expected to be $2.1 billion, with a projected operating margin of 37% and EPS of $1.26. Business Progress: Despite weak demand in the industrial sector, ADI is taking steps to reduce channel inventory and align sell-in
Analog Devices, Inc. (NASDAQ:ADI) Q1 2024 Earnings Conference Read Post »
By Emily Bary ‘Fundamentally, the conditions are excellent for continued growth’ in coming years, CEO says Nvidia Corp. cleared a high bar with its latest earnings Wednesday, sending its stock surging more than 8% in the extended session. The company beat top-line expectations by almost $2 billion for the most recent quarter, while doing the same with its outlook for the current one. Investors, though, have increasingly been focused on Nvidia’s (NVDA) long-term growth potential, and management’s message there also resonated. While acknowledging that Nvidia doesn’t offer guidance beyond the ongoing quarter, Chief Executive Jensen Huang said on the earnings call that “fundamentally, the conditions are excellent for continued growth” over the next two calendar years “and beyond.” The company is benefiting as general computing gives way to accelerated computing, and it’s seeing booming interest in generative artificial intelligence. Those areas have “hit the tipping point,” Huang said in Nvidia’s
Nvidia Earnings Send Stock Rocketing as Company Cheers AI ‘Tipping Point’ Read Post »
The following is a summary of the Synopsys, Inc. (SNPS) Q1 2024 Earnings Call Transcript: Financial Performance: Synopsys reported a Q1 revenue of $1.65 billion, a 21% increase year-over-year. Non-GAAP operating margin was 38.7%, up by almost 3.5 points from the same quarter last year. Non-GAAP EPS was up by 36%, reaching $3.56. This has been part of a 26% CAGR in Non-GAAP EPS growth over the last three years. Total GAAP costs and expenses for the quarter were $1.29 billion, while non-GAAP costs and expenses were $1.01 billion. The full-year guidance for 2024 anticipates revenue between $6.57 billion and $6.63 billion, non-GAAP earnings per share between $13.47 and $13.55, and a cash flow from operations of approximately $1.4 billion. The Design Automation segment produced a revenue of $985.3 million, marking an increase of 11%. The Design IP segment revenue increased to $525.7 million, a rise of 53%. Software Integrity
Synopsys (NASDAQ:SNPS) Q1 2024 Earnings Conference Read Post »
Snowflake (NYSE:SNOW) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 02/21/2024 22.97% Needham $225 → $265 Maintains Buy 02/20/2024 16.01% Truist Securities $230 → $250 Maintains Buy 02/15/2024 -0.7% HSBC → $214 Downgrades Buy → Hold 02/02/2024 3.48% Raymond James $190 → $223 Maintains Outperform 01/22/2024 -1.62% JMP Securities → $212 Reiterates Market Outperform → Market Outperform 01/16/2024 6.73% Truist Securities $210 → $230 Maintains Buy 01/12/2024 -8.12% Barclays → $198 Downgrades Overweight → Equal-Weight 01/08/2024 4.41% Needham → $225 Reiterates Buy → Buy 01/05/2024 6.73% RBC Capital → $230 Initiates Coverage On → Outperform 01/04/2024 -25.75% Monness, Crespi, Hardt → $160 Downgrades Neutral → Sell 01/02/2024 16.01% Piper Sandler $220 → $250 Maintains Overweight 12/11/2023 6.73% TD Cowen $215 → $230 Maintains Outperform 12/01/2023 -11.83% Rosenblatt $170 → $190 Maintains Neutral 11/30/2023 4.87% Scotiabank $194 → $226 Maintains Sector Outperform 11/30/2023
Snowflake (NYSE:SNOW) Stock Analyst Ratings Read Post »
Needham analyst Mike Cikos maintains Snowflake (NYSE:SNOW) with a Buy and raises the price target from $225 to $265.
Needham raises Snowflake (NYSE:SNOW) price target from $225 to $265 Read Post »
Analog Devices Reports Fiscal First Quarter 2024 Financial Results — Revenue of more than $2.5 billion with continued growth in Automotive — Operating cash flow of $4.6 billion and free cash flow of $3.2 billion on a trailing twelve-month basis — Returned over $600 million to shareholders through dividends and repurchases in the first quarter — Raised quarterly dividend by 7%, marking the twentieth consecutive year of increase — Appointed Richard C. Puccio as EVP and Chief Financial Officer WILMINGTON, Mass.–(BUSINESS WIRE)–February 21, 2024– Analog Devices, Inc. (Nasdaq: ADI), a global semiconductor leader, today announced financial results for its 14-week fiscal first quarter 2024, which ended February 3, 2024. “ADI delivered first quarter revenue and profitability above the midpoint of our outlook, despite the continued difficult macroeconomic environment,” said Vincent Roche, CEO and Chair. “Consistent with our prior view, we expect customer inventory rationalization to largely subside in our second
Analog Devices, Inc. (NASDAQ:ADI) Reports Fiscal First Quarter 2024 Financial Results Read Post »
Analog Devices Sees Q2 Adj. EPS $1.16-$1.36 Vs $1.57 Est., Revenue $2B-$2.2B Vs $2.36B Est.
Analog Devices said it expects fiscal second-quarter earnings of $1.26 a share, plus or minus 10 cents. Analysts surveyed by FactSet were expecting earnings of $1.56. Revenue expectations of $2.1 billion, plus or minus $100 million, also missed the consensus call of $2.36 billion. For the first quarter ended Feb. 3, the company reported earnings of $1.73 a share on revenue of $2.51 billion. Analysts surveyed by FactSet were expecting Analog Devices to report earnings of $1.71 a share on revenue of $2.5 billion. In the same period the prior year, Analog Devices posted earnings of $2.75 a share on revenue of $3.25 billion. “ADI delivered first quarter revenue and profitability above the midpoint of our outlook, despite the continued difficult macroeconomic environment,” Chief Executive Vincent Roche said in the earnings release.
Analog Devices Beats Earnings Expectations Read Post »
Analog Devices (ADI) reported fiscal Q1 adjusted earnings Wednesday of $1.73 per diluted share, down from $2.75 a year earlier. Analysts polled by Capital IQ expected $1.71. Revenue for the quarter ended Feb. 3 was $2.51 billion, down from $3.25 billion a year earlier. Analysts surveyed by Capital IQ expected $2.50 billion. The semiconductor company said it expects fiscal Q2 adjusted EPS in a range of $1.16 to $1.36 on revenue of $2 billion to $2.2 billion. Analysts polled by Capital IQ are expecting adjusted EPS of $1.57 on revenue of $2.36 billion. Shares of Analog Devices were down more than 1% in recent Wednesday premarket activity.
Analog Devices’ Fiscal Q1 Adjusted Earnings, Revenue Decline; Sets Fiscal Q2 Guidance Read Post »
CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We keep our 12-month target at $193 on a P/E of 22x our CY 25 view of $8.69, above its five-year historical forward average of 20.5x given near bottoming fundamentals. We cut our FY 24 (Oct.) EPS to $6.39 from $7.80 and FY 25’s to $8.13 from $9.66. ADI posted Jan-Q EPS of $1.73 vs. $2.75, beating the $1.71 consensus. Sales fell 23%, better than feared, on declines across industrial (-31%), communications (-37%), and consumer (-22%), while automotive remains resilient (+9%). Although Apr-Q revenue/EPS guide is below expectations, we do expect it to mark the cyclical trough, barring macro pressures that could hit autos. Both gross (69% vs. 73.6%) and operating (42% vs. 51.1%) margins have compressed considerably on lower volume, but we like emphasis on shortening
CFRA Maintains Hold Opinion On Shares Of Analog Devices, Inc. (NASDAQ:ADI) Read Post »