Report
Frederic Yoboue

DIALOG SEMICONDUCTOR: Good Q3 results, but disappointing performance from other business than Apple | NEUTRAL | EUR25.5

DIALOG SEMICONDUCTOR - NEUTRAL | EUR25.5 (+21%)
Good Q3 results, but disappointing performance from other business than Apple

Dialog reports solid Q3 2018 results
Outperformance came mainly from Apple which implies disappointing sales from the rest of the business
Q4 2018 revenue guidance 3% above the consensus
Since the main PMIC business will disappear within 2 year, more attention should be paid to the other business
Underlyings
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.

Provider
Bryan Garnier
Bryan Garnier

Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.

Analysts
Frederic Yoboue

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