For Immediate Release
Chicago, IL – October 15, 2009 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Linear Technology (LLTC), Maxim Integrated Products (MXIM), Intersil Corporation (ISIL), Semtech (SMTC) and Altera Corporation (ALTR).
Get the most recent insight from Zacks Equity Research with the free Profit from the Pros newsletter: http://at.zacks.com/?id=5513
Here are highlights from Wednesday’s Analyst Blog:
Linear Tops, Guidance Conservative
Linear Technology’s (LLTC) first quarter earnings beat the Zacks consensus by 2 cents. Revenue beat the consensus by 9.4%. We currently expect the entire peer group, including Maxim Integrated Products (MXIM), Intersil Corporation (ISIL) and Semtech (SMTC) to report above consensus expectations.
Revenue of $236.1 million was up 13.5% sequentially and down 23.9% year over year. The sequential strength was broad-based, with all end markets except cell phones contributing. Automotive and industrial were particularly strong. The weakness compared to the year-ago period was recession-related.
On a sequential basis, the U.S. generated 29% of revenue (up 9.7%), Europe 16% (up 13.5%), Asia excluding Japan 40% (up 10.7%) and Japan 15% (up 31%). Both distribution and OEMs sales grew in the U.S. and internationally. Distributor inventories decreased in the quarter. The ASP increased from $1.44 to 1.49. Volumes were up 9.7% sequentially, also contributing to the higher revenue.
Altera Meets Expectations
Altera Corporation (ALTR) reported sales of $286.6 million, down 20% from a year ago but up 3% sequentially and in line with the management’s revised guidance provided last month. New products grew 7% sequentially. Sales of 40 nm devices tripled sequentially as the company won record results.
Last month Altera upgraded its guidance, driven by broad-based improvement across all market segments except telecom and wireless. Management stated that business conditions improved steadily during the quarter and most markets performed better than expected due to a combination of new program ramps, improved end-market demand and an increase in customer orders due to inventory depletion.
Gross margin came in at 67.3% compared to 67.1% in the year-ago quarter, but improved from 66.4% in the previous quarter driven by a favorable product mix along with improved yields on some of the new products. Operating margin came in at 23.2% compared to 24.0% in the previous quarter and 30.8% in the year-ago quarter.
Want more from Zacks Equity Research? Subscribe to the free Profit from the Pros newsletter: http://at.zacks.com/?id=5515.
About Zacks Equity Research
Zacks Equity Research provides the best of quantitative and qualitative analysis to help investors know what stocks to buy and which to sell for the long-term.
Continuous coverage is provided for a universe of 1,150 publicly traded stocks. Our analysts are organized by industry which gives them keen insights to developments that affect company profits and stock performance. Recommendations and target prices are six-month time horizons.
Zacks “Profit from the Pros” e-mail newsletter provides highlights of the latest analysis from Zacks Equity Research. Subscribe to this free newsletter today: http://at.zacks.com/?id=5517
Zacks.com is a property of Zacks Investment Research, Inc., which was formed in 1978 by Leonard Zacks. As a PhD in mathematics Len knew he could find patterns in stock market data that would lead to superior investment results. Amongst his many accomplishments was the formation of his proprietary stock picking system; the Zacks Rank, which continues to outperform the market by nearly a 3 to 1 margin. The best way to unlock the profitable stock recommendations and market insights of Zacks Investment Research is through our free daily email newsletter; Profit from the Pros. In short, it’s your steady flow of Profitable ideas GUARANTEED to be worth your time! Register for your free subscription to Profit from the Pros at http://at.zacks.com/?id=5518.
Visit http://www.zacks.com/performance for information about the performance numbers displayed in this press release.
Follow us on Twitter: http://twitter.com/zacksresearch
Join us on Facebook: http://www.facebook.com/home.php#/pages/Zacks-Investment-Research/57553657748?ref=ts
Disclaimer: Past performance does not guarantee future results. Investors should always research companies and securities before making any investments. Nothing herein should be construed as an offer or solicitation to buy or sell any security.
Web Content Editor