Dialog Semiconductor PLC

Dialog Semiconductor is engaged in creating and marketing mixed signal integrated circuits for personal, portable, hand-held devices, low energy short-range wireless, LED solid-state lighting and automotive applications. Co. has four segments: Mobile Systems, which includes its power management and audio chips for the wireless systems markets; Automotive and Industrial, which markets products that address the safety, management and control of electronic systems in cars and for industrial applications; Connectivity, with activities that include short-range wireless, digital cordless, Bluetooth and VoIP technology; and Power Conversion, which includes its AC/DC converter solutions.
  • TickerDLG
  • ISINGB0059822006
  • SectorTechnology Hardware & Equipment
  • CountryGermany
Emmanuel Matot ...
  • Stephane Houri

ODDO : Acquisition of Maxim by Analog Devices: Europe won’t be able to stay out of the consolidation movement for much longer

>Acquisition of Maxim by Analog Devices for $ 21bn, at 29x EBITDA 2021e - Analog Devices yesterday offered to acquire Maxim Integrated Products for around $ 21bn, i.e. a premium of 20% to Friday evening’s closing price. The deal values Maxim at 9.7x 2021e sales and 28.7x 2021e EBITDA, which is very high (the SOXX is at 13.3x 2021e EBITDA). The combined entity will weigh in at around $ 68bn in terms of enterprise value, or a little over half of its main competitor Texa...

Dave Nicoski ...
  • Ross LaDuke

Int'l Insights: Bullish Developed Markets Stocks

Overweight Global Technology & Industrials The absence of breakdowns in both the US dollar (DXY) and the MSCI EAFE vs. EM ratio along with the positive correlation between the two allows us to continue sticking with EAFE over EM... see charts below. As long as the DXY's uptrend remains intact, we expect EAFE to continue outperforming EM. Below we highlight attractive and actionable themes within developed int'l markets: • Technology and Industrial Manufacturing. Technology and Industrials continue to be two of the most attractive Sectors globally -- overweight. These two Sectors account fo...

Dave Nicoski ...
  • Ross LaDuke

Vermilion Int'l Compass: Global Equity Strategy

The MSCI ACWI and ACWI ex-US have managed to break above their respective 200-day moving averages, providing further evidence that global equities are going through a bottoming process. • Remain overweight China which is leading global equities higher. RS uptrends remain intact for the Shanghai Composite and MSCI China indexes. In today's report we highlight a number of actionable charts Chinese companies, focusing on less-exploited price patterns... see page 2. • EAFE small- vs large-cap ratio exhibits early signs of bottoming. We view the potential bottom for the MSCI EAFE small- vs. larg...

Frederic Yoboue

DIALOG SEMICONDUCTOR: Dialog reports preliminary revenue at the low end of the guidance | NEUTRAL | EUR26.5

DIALOG SEMICONDUCTOR - NEUTRAL | EUR26.5(+20%) Dialog reports preliminary revenue at the low end of the guidance Preliminary revenue below the consensus Dialog suffered from lacklustre growth of the iPhone Further decrease in revenue in Q1 2019

Emmanuel Matot ...
  • Stephane Houri

ODDO : Acquisition of Maxim by Analog Devices: Europe won’t be able to stay out of the consolidation movement for much longer

>Acquisition of Maxim by Analog Devices for $ 21bn, at 29x EBITDA 2021e - Analog Devices yesterday offered to acquire Maxim Integrated Products for around $ 21bn, i.e. a premium of 20% to Friday evening’s closing price. The deal values Maxim at 9.7x 2021e sales and 28.7x 2021e EBITDA, which is very high (the SOXX is at 13.3x 2021e EBITDA). The combined entity will weigh in at around $ 68bn in terms of enterprise value, or a little over half of its main competitor Texa...

Emmanuel Matot ...
  • Stephane Houri

ODDO : Rachat de Maxim par Analog Devices : l’Europe ne pourra rester longtemps à l’écart du mouvement de consolidation

>Rachat de Maxim par Analog Devices pour 21 Md$, à 29x l’EBITDA 2021e - Hier, Analog Devices a proposé le rachat de Maxim Integrated Products pour environ 21 Md$, soit une prime de 20% sur le cours de clôture de vendredi soir. L’opération valorise Maxim à 9.7x le CA 2021e et 28.7x l’EBITDA 2021e, niveau très élevé (le SOXX est à 13.3x l’EBITDA 2021e). L’entité combinée pèsera environ 68 Md$ en valeur d’entreprise, soit un peu plus de la moitié de son principal concurr...

Emmanuel Matot ...
  • Stephane Houri

ODDO : Worldwide semiconductor sales in May: once again saved by the acceleration in memory

>Worldwide semiconductor sales in May 2020 once again beat forecasts, with just a very slight deceleration vs April - Worldwide semiconductor sales for May 2020 were published at the weekend by WSTS (World Semiconductor Trade Statistics), with a month’s lag, as usual. On a three-month moving average, they came to $ 35bn, beating our $ 34.2bn forecast. This marks a very slight deceleration, with y-o-y growth of 5.8%, after +6.1% in April and +6.9% in March. Volumes wer...

Emmanuel Matot ...
  • Stephane Houri

ODDO : Ventes mondiales de semi-conducteurs de mai : de nouveau sauvé par l’accélération de la mémoire

>Ventes mondiales de mai 2020 de nouveau supérieures aux attentes, seulement une très faible décélération par rapport à avril - Les ventes mondiales de semi-conducteurs de mai 2020 ont été publiées ce week-end par la WSTS (World Semiconductor Trade Statistics), comme d’habitude avec un mois de décalage. En données lissées (MM3 – Moyennes Mobiles 3 mois), elles ressortent à 35 Md$, supérieures à notre prévision de 34.2 Md$. Il s’agit d’une très légère décélération, ave...

Stephane Houri

Dialog Semiconductor Plc : Trading update: Q2 sales forecast raised thanks to home-working and -learning

>Q2 sales forecast raised thanks to home-working and -learning - Dialog Semiconductors indicated last night that it was expecting Q2 2020 sales of between $ 290m and $ 305m vs the previous forecast of $ 260m-290m. This means that the mid-point of the guidance is $ 297.5m vs $ 275m, i.e. 8% higher. The consensus pre-publication forecast was for sales of $ 268m. The new mid-point of the guidance is therefore 11% higher than the consensus. The group did not mention marg...

Aurelien Sivignon ...
  • Emmanuel Matot
  • Fatma Agnès Hamdani
  • Jean-François Granjon
  • Jerôme Bodin
  • Martin Marandon-Carlhian
  • Stephane Houri

ODDO BHF Small & MIDCAP MORNING NEWS - 07/06/2020

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An unfavourable environment weighs on DIALOG SEMICON.AG., which sees a downgrade to Slightly Negative

The independent financial analyst theScreener just requalified the general evaluation of DIALOG SEMICON.AG. (DE), active in the Semiconductors industry. As regards its fundamental valuation, the title still shows 0 out of 4 stars and its market behaviour is seen as moderately risky. theScreener believes that the unfavourable environment weighs on the sector and penalises the company, which sees a downgrade to its general evaluation to Slightly Negative. As of the analysis date February 25, 2020, the closing price was EUR 35.20 and its target price was estimated at EUR 33.44.

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

Expert Corporate Governance Service (ECGS)

Dialog Semiconductor – AGM 30 April 2020

As Dialog is incorporated in the UK and listed in Frankfurt, the Company is not required to follow, and report against, the UK Corporate Governance Code ("The Code")However, in line with its commitment to maintaining high standards of corporate governance and oversight, the Board has decided to follow The Code to the extent it considers it is beneficial to the good governance of the Company. The contents of the Annual Report are guided by the provisions of the Companies Act 2006.   ITEM 2: Directors'Remuneration Report: the Company seeks shareholder approval of the Directors'Remuneration Rep...

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