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Beating, But Not Rising: SMH, LRCX, NVLS, TQNT
October 21, 2009
BY Rick Pendergraft:
Contributor, Stock Traders Daily
Real Time Trading Reports: Included are detailed trading reports designed to help investors realize opportunities in these companies as earnings are released. The reports are linked to the stock symbols in the article below. Performance - Click Here
(La Jolla, CA)
So far this earning’s season, we have heard from several semiconductor companies and one company after another keeps beating earnings expectations, yet hardly any of them are higher than they were before their earnings report.
The Semiconductor HOLDRs Trust (NYSE: SMH) is down slightly since last Tuesday’s close, this is when the semiconductor earning’s parade got started with Intel (Nasdaq: INTC) beating third quarter estimates.
While most of the bigger semiconductor companies may have reported, that doesn’t mean that there aren’t any opportunities left. Wednesday after the close, there are three more chip companies reporting.
Lam Research (NASDAQ: LRCX) is in the semiconductor equipment and materials sub-sector and the company is expected to lose $0.08 per share this quarter, after losing $0.46 last quarter and $0.66 the quarter before that. Such a small loss after two awful quarters would be quite the accomplishment. LRCX has been in a nice upward sloped trend channel over the last five months and it is closer to the top rail of the channel than the lower rail. Should the report disappoint and the stock pull back to the lower rail (approximately $33), it might be a decent entry point. To find out more about Lam Research, request our free report.
Another company in the semiconductor equipment and materials sub-sector that is reporting Wednesday evening is Novellus (NASDAQ: NVLS). Analysts expect the company to lose $0.04 per share for the quarter, which would make the fourth straight quarter the company lost money. Expectations for NVLS are definitely heading higher as the company has been upgraded four times in the last four months by various firms and the consensus estimate for 2010’s earnings has jumped from $0.79 a share to $0.87 per share in the last week. For a more in depth analysis of Novellus, take a look at our report.
In the integrated circuit sub-sector of the overall semiconductor industry, TriQuint Semiconductor (NASDAQ: TQNT) will report Wednesday after the close and analysts expect the company to earn $0.10 per share on the quarter. TQNT has been on an incredible run since March, quadrupling from $1.94 on March 9, to a close of $8.28 on Monday. Out of 57 companies in the sub-sector, TQNT did have the best EPS Growth in the second quarter at a rate of 13.7 percent year over year. If the stock is going to continue climbing, it will have to continue this growth rate and perhaps even increase it. For more on how to play TriQuint, check out our free report.
Headlines and Special Reports:
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- The Next Chapter in the Google vs. Microsoft Rivalry: GOOG, MSFT, AMZN, AAPL
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