For Immediate Release
Chicago, IL – January 18, 2010 – 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: TriQuint Semiconductor, Inc. (TQNT), Skyworks Solutions (SWKS), ANADIGICS Inc. (ANAD), RF Micro Devices (RFMD) and Canadian Solar Inc. (CSIQ).
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Here are highlights from Friday’s Analyst Blog:
TriQuint Upgrades Guidance
TriQuint Semiconductor, Inc. (TQNT) reported preliminary results for the fourth quarter of 2009.
The company now expects revenues of around $190 million, up from the previous guidance of $175 million to $185 million. The increase in guidance has been primarily due to increased demand during the holiday season.
In October, management had warned that a Korean handset manufacturer was making a material adjustment in its demand to bring down excess inventory, which in turn would impair demand in the fourth quarter.
Earnings per share (EPS) is now projected in the range of 12 cents to 13 cents, up from the earlier forecast of 10 cents to 12 cents.
For the first quarter of 2010, management estimates revenues to decline by 10% – 15% due to seasonal fluctuations in demand. However, revenue growth is expected to be strong in 2010.
With the economy showing signs of recovery, we expect capital spending to pick up in 2010. TriQuint foresees sustained demand for handset and defense products along with an eventual recovery in the networks market. The company is all set to benefit from China’s investment in 3G infrastructure, which more than offsets lower infrastructure spending in other regions. Management continues to see solid adoption of its 3G products in multi-band smart phones.
TriQuint is pitted against players such as Skyworks Solutions (SWKS), ANADIGICS Inc. (ANAD) and RF Micro Devices (RFMD). It remains to be seen how TriQuint fares and wins market share as the economy picks up. Based in Hillsborough, OR, TriQuint is an original equipment manufacturer of semiconductor communication integrated circuits and specifically targets the wireless handset segment, infrastructure networks and defense markets.
Canadian Solar’s Japanese JV
Canadian Solar Inc. (CSIQ) announced that it has formed a joint venture and an 18 MW distribution deal with West Holding Ltd of Japan. The agreement stipulates a transfer of 14% of the shares in Canadian Solar Japan − the Japanese subsidiary of Canadian Solar Inc. − to West Holding Ltd. Canadian Solar will retain the remaining 86% stake in its subsidiary. West Holding Ltd will distribute and sell solar residential rooftop systems designed by Canadian Solar Japan. The sales target for 2010 is approximately 18 MW.
West Holdings Corporation and its subsidiaries develop photovoltaic systems, all electric housing, and heat reflective paints in Japan and overseas.
Canadian Solar is a vertically integrated manufacturer of silicon ingots, wafers, cells, solar modules (panels) and custom-designed solar power applications. The company has seven manufacturing facilities located at Suzhou, Changshu and Luoyang in China. Canadian Solar has an annual capacity of approximately 120 MW to 150 MW of ingots and wafers, 270 MW of cells, and 820 MW of modules.
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