reports
- Dave Nicoski
- Ross LaDuke
Vermilion Compass: Weekly Equity Strategy
Markets on the mend, still not at full health Recent market developments are encouraging and have improved the overall health of the market, which has also incrementally improved our outlook. At the same time, there is still more to be desired before we can have confidence in the prospect of a broad market rally. • Emerging Markets. An important signal of substantially improving risk appetites, emerging markets (EEM) are staging a bullish RS reversal relative to both the S&P 500 and MSCI ACW...
UCTT ULTRA CLEAN HOLDINGS INC.
TER TERADYNE INC.
PDFS PDF SOLUTIONS INC.
NVMI NOVA MEASURING INSTRUMENTS LTD
MKSI MKS INSTRUMENTS INC.
LFUS LITTELFUSE INC.
KYO.N KYOCERA CORP. (MEXICO)
KN KNOWLES CORP.
KEM KEMET CORPORATION
FORM FORMFACTOR INC.
CCMP CMC MATERIALS INC.
AMAT APPLIED MATERIALS INC.
AEIS ADVANCED ENERGY INDUSTRIES INC.
BRKS BROOKS AUTOMATION INC.
COHU COHU INC.
ENTG ENTEGRIS INC.
KLAC KLA CORPORATION
LSTR LANDSTAR SYSTEM INC.
ODFL OLD DOMINION FREIGHT LINE INC.
PLAB PHOTRONICS INC.
JBHT J.B. HUNT TRANSPORT SERVICES INC.
ICHR ICHOR HOLDINGS LTD.
ASML ASML HOLDING N.V.
KNX KNIGHT-SWIFT TRANSPORTATION HOLDINGS INC. CLASS A
AMKR AMKOR TECHNOLOGY INC.
ASMIY ASM INTERNATIONAL N.V.
TTDKY TDK CORP. ADS
BESIY BE SEMICONDUCTOR INDUSTRIES N.V.
NJDCY NIDEC CORP. ADS
IMOS CHIPMOS TECHNOLOGIES
INC.
- Kazunori Ito
Morningstar | Kyocera’s Plan to Improve Shareholder Return Is Positi...
We are increasing no-moat Kyocera’s fair value estimate to JPY 7,400 from JPY 7,000 per share, and to US$ 68 from US$ 64 per U.S. ADR, because we reflect slightly faster margin expansion than previously forecast. This is driven by the progress Kyocera is making as it restructures its unprofitable businesses, such as handsets and solar panels. However, since guidance is largely within our expectations, we think Kyocera is fairly valued at the current share price. Meanwhile, we find it encour...
- Kazunori Ito
Morningstar | Kyocera’s Plan to Improve Shareholder Return Is Positi...
We are increasing no-moat Kyocera’s fair value estimate to JPY 7,400 from JPY 7,000 per share, and to US$ 68 from US$ 64 per U.S. ADR, because we reflect slightly faster margin expansion than previously forecast. This is driven by the progress Kyocera is making as it restructures its unprofitable businesses, such as handsets and solar panels. However, since guidance is largely within our expectations, we think Kyocera is fairly valued at the current share price. Meanwhile, we find it encour...
- Kazunori Ito
Kyocera’s Plan to Improve Shareholder Return Is Positive, Raising Ou...
We are increasing no-moat Kyocera’s fair value estimate to JPY 7,400 from JPY 7,000 per share, and to US$ 68 from US$ 64 per U.S. ADR, because we reflect slightly faster margin expansion than previously forecast. This is driven by the progress Kyocera is making as it restructures its unprofitable businesses, such as handsets and solar panels. However, since guidance is largely within our expectations, we think Kyocera is fairly valued at the current share price. Meanwhile, we find it encourag...
- Kazunori Ito
Morningstar | Trimming Kyocera’s FVE to JPY 7,000 Owing to Weaker Ha...
We trim Kyocera’s fair value estimate from JPY 7,500 to JPY 7,000 per share, and from $67 to $64 per U.S. ADR, as we incorporate weaker smartphone shipment and memory demand into our forecast. While we view that memory demand will pick up in late 2019, revenue growth of ceramic and organic packages for smartphones may be weaker than our original forecast in the longer term because of the prolonging replacement cycle and intensifying competition. As a result, we lowered our operating margin ass...
- Kazunori Ito
Morningstar | Trimming Kyocera’s FVE to JPY 7,000 Owing to Weaker Ha...
We trim Kyocera’s fair value estimate from JPY 7,500 to JPY 7,000 per share, and from $67 to $64 per U.S. ADR, as we incorporate weaker smartphone shipment and memory demand into our forecast. While we view that memory demand will pick up in late 2019, revenue growth of ceramic and organic packages for smartphones may be weaker than our original forecast in the longer term because of the prolonging replacement cycle and intensifying competition. As a result, we lowered our operating margin ass...
- Kazunori Ito
Trimming Kyocera’s FVE to JPY 7,000 Owing to Weaker Handsets Demand;...
We trim Kyocera’s fair value estimate from JPY 7,500 to JPY 7,000 per share, and from $67 to $64 per U.S. ADR, as we incorporate weaker smartphone shipment and memory demand into our forecast. While we view that memory demand will pick up in late 2019, revenue growth of ceramic and organic packages for smartphones may be weaker than our original forecast in the longer term because of the prolonging replacement cycle and intensifying competition. As a result, we lowered our operating margin ass...
- Kazunori Ito
Morningstar | Kyocera’s Diversified Portfolio and M&A Strategy Will ...
Kyocera’s September quarter operating income was JPY 45.5 billion, which was above our forecast of JPY 41 billion. While demand of ceramic package and solar panels were weaker than anticipated, other business segments compensated for the shortfall. In particular, revenue of the components group showed impressive growth of 14.8% from the previous year because of the robust demand from the automotive and machinery industries. Kyocera forecasts that demand from smartphones will slow down in the s...
- Kazunori Ito
Kyocera’s Diversified Portfolio and M&A Strategy Will Enable Solid G...
Kyocera’s September quarter operating income was JPY 45.5 billion, which was above our forecast of JPY 41 billion. While demand of ceramic package and solar panels were weaker than anticipated, other business segments compensated for the shortfall. In particular, revenue of the components group showed impressive growth of 14.8% from the previous year because of the robust demand from the automotive and machinery industries. Kyocera forecasts that demand from smartphones will slow down in the s...
- Kazunori Ito
Morningstar | Kyocera’s Diversified Portfolio and Better Use of Cash...
While Kyocera’s June quarter total operating income of JPY 37 billion was generally in line with our forecasts, the segments were somewhat mixed, as follows: 1) Electronic components and devices came in above our forecast, driven by robust demand from autos, semiconductors, and industrials; 2) ceramic packages were weaker than expected because of the inventory adjustment; and 3) despite the restructuring progress, handsets and solar panels recorded an operating loss, as demand was weaker than ...
- Kazunori Ito
Morningstar | Kyocera’s Diversified Portfolio and Better Use of Cash...
While Kyocera’s June quarter total operating income of JPY 37 billion was generally in line with our forecasts, the segments were somewhat mixed, as follows: 1) Electronic components and devices came in above our forecast, driven by robust demand from autos, semiconductors, and industrials; 2) ceramic packages were weaker than expected because of the inventory adjustment; and 3) despite the restructuring progress, handsets and solar panels recorded an operating loss, as demand was weaker than ...
- Kazunori Ito
Kyocera’s Diversified Portfolio and Better Use of Cash Enable Steady...
While Kyocera’s June quarter total operating income of JPY 37 billion was generally in line with our forecasts, the segments were somewhat mixed, as follows: 1) Electronic components and devices came in above our forecast, driven by robust demand from autos, semiconductors, and industrials; 2) ceramic packages were weaker than expected because of the inventory adjustment; and 3) despite the restructuring progress, handsets and solar panels recorded an operating loss, as demand was weaker than ...
- Kazunori Ito
Share Buyback Suggests a Small but Steady Progress on Kyocera’s Corp...
Kyocera’s operating income for fiscal year 2018 (financial year ending March 2018) was JPY 96 billion, substantially in line with our forecast of JPY 142 billion, as reported numbers include a onetime writedown of approximately JPY 50 billion relating to the long-term purchase contract for procurement of polysilicon. While reported numbers were within our expectation, Kyocera’s share price surged 12.6% on the following day as the company announced buying back 2% of its shares. Kyocera has be...
Kyocera DuraTR Launches at Sprint, Offering Military-grade Ruggedizati...
SAN DIEGO--(BUSINESS WIRE)-- Kyocera International Inc., the leader in rugged mobile solutions, today announced the Kyocera DuraTR, a 4G LTE ruggedized, waterproof feature phone with a candy-bar form factor and military-grade durability. It joins Kyocera’s DuraForce PRO and DuraXTP as the first devices on the market that will support the new Sprint Direct Connect PlusTM push-to-talk (PTT) service. The DuraTR is available now for just $13.50 per month with Sprint Flex lease.1 With a design similar to traditional two-way...
Kyocera and Intrepid Networks Join Forces to Support Arlington County ...
SAN DIEGO & ORLANDO, Fla.--(BUSINESS WIRE)-- Kyocera International Inc., the leader in rugged mobile solutions, and Intrepid Networks, developers of situational-awareness software for Public Safety, collaborated to again provide the Arlington County Police Department (ACPD) with high-performance, military-grade devices to support security operations at the 42nd Annual Marine Corps Marathon, which was held on October 22nd. This is the fifth year supporting the event for Intrepid Networks and the third year for Kyocera. ...
- Kazunori Ito
Decent Results Suggest Progress in Restructuring, but Underlying Probl...
We revise our fair value estimate for Kyocera to JPY 6,700 per share and $61 per U.S. ADR from JPY 6,400 per share and $58 per U.S. ADR. The decent June quarter results suggest that Kyocera’s cost reduction on unprofitable businesses, such as handsets, solar panels, and LCD displays, is ahead of our assumption, and so we have raised our earnings forecast. However, we retain our view and our no-moat rating, as we consider the strength of Kyocera’s components business to be diluted by its less...
Kyocera DuraForce PRO Launches at T-Mobile, Now Available from Nationâ...
SAN DIEGO--(BUSINESS WIRE)-- Kyocera International Inc., the leader in rugged mobile solutions, today announced that the Kyocera DuraForce PRO rugged smartphone is now available in T-Mobile retail stores nationwide and online through the company’s web site. With the launch, T-Mobile joins AT&T, Verizon Wireless and Sprint in offering the device nationwide. T-Mobile customers may purchase the Kyocera DuraForce PRO for $425.00, and the device includes a 2-year manufacturer’s limited warranty. The latest in Kyocera...
- Kazunori Ito
Downside Risks on Handsets and Solar Panels for Kyocera’s New Guidan...
Kyocera reported JPY 105 billion of operating income for fiscal 2017 (financial year ending March 2017), which was above our forecast of JPY 96 billion and market expectations of JPY 94 billion. Although the company estimates that the stronger Japanese yen caused a negative impact of JPY 26 billion to its profits, Kyocera absorbed the loss by cost reduction, and was able to maintain its profitability. In the March quarter, the telecommunication equipment segment recorded an 11.4% margin, which w...
Kyocera DuraForce PRO Rugged Smartphone Wins iF DESIGN AWARD 2017
SAN DIEGO--(BUSINESS WIRE)-- Kyocera International Inc., the leader in rugged mobile solutions, today announced that its Kyocera DuraForce PRO — the only rugged 4G LTE smartphone with a Super Wide View HD (1080p) Action Camera – received the iF DESIGN AWARD 2017. With a reputation as the most distinguished design award in Europe, the birthplace of industrial design, the iF DESIGN AWARD is hosted by the iF International Forum Design GmbG Hannover to recognize industrial products around the globe for exceptional execution ...
Ford Equity US Rating and Forecast Report
Ford Equity Research covers more than 4,000 stocks using a proprietary quantitative model that evaluates a company’s earnings strength, its relative valuation and recent price movement. Ford’s five recommendation ratings include strong buy, buy, hold, sell, strong sell. For all stocks in our coverage universe, ratings are generated each week and reflect the fundamental and price data as of the last trading day of the week.
Unfortunately, this report is not available for the investor type or country you selected.
Report is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.