The shares of Mobileye Global (MBLY; $26.46; O/P) have retreated 19% since early-April (vs. +1% for the S&P 500) as the Street seems suddenly concerned with the company’s longer-term competitive positioning around autonomous vehicle (AV)…
We think news flow over the weekend out of Advanced Micro Devices (AMD; $161.57; NR) and NVIDIA (NVDA; $1,130.04; NR) provides further support to the idea that Amkor Technology (AMKR; $32.00; E/W) is well positioned…
Yesterday, CommScope (COMM; $1.49) announced that it was selected as the “highest and best bidder” to acquire Casa Systems’ (CASSQ; $0.0064; NR) Cable Business assets for $45mm. A sale hearing is scheduled for Tuesday (6/4)…
This morning, Flex (FLEX; $32.80; O/P) announced it acquired, for undisclosed terms, privately held FreeFlow, which provides a suite of electronic component asset disposition services. Overall, we think the acquisition of FreeFlow, which we assume…
We adjust F2025/F2026E (Jan) EPS for Dell Technologies (DELL; $169.92; E/W) from $7.55/$8.40 to $7.65/$8.80 after management “only” raised F2025E EPS guidance from $7.25-7.75 to $7.40-7.90 (+4-11% YoY) following a slight FQ1 (Apr) EPS beat…
We are adjusting our F2025E (Apr) EPS for NetApp (NTAP; $116.50; E/W) from $6.85 to $6.90 to account for somewhat better forward guidance after FQ4 (Apr) results largely came in as we expected. Specifically, FQ4…
Amazon (AMZN; $180.28; NR) looks to be tightening its on-demand food delivery partnership with Just Eat Takeaway.com’s (TKWY.NL; €12.19; NR) Grubhub with today’s announcement that Prime members can now activate a free Grubhub+ subscription that…
We think Lyft’s (LYFT; $15.92; E/W) Investor Day, scheduled for next Thursday (6/6) in New York, can prove a positive catalyst for the shares, especially with the stock down 22% since late-March despite solid Q1…
This morning, Jabil (JBL; $117.33; O/P), which currently trades at 14X our F2024E (Aug) EPS and 6.3X EV/EBITDA, announced a new set of configurable, high-performance server platforms, which are part of the company’s broader set…
We raise our target from $34 to $40 on the shares of Flex (FLEX; $33.64; O/P) to better consider: (1) the rising importance of its robust cloud solutions offering to operating profit growth; and (2)…
Last week, we attended the Advanced Clean Transportation (ACT) Expo in Las Vegas, which highlighted healthy commercial interest from fleet operators, port authorities, and a range of enterprises, including electric utilities and energy companies, in…
Last Thursday (5/23), Dell Technologies (DELL; $160.18; E/W) topped off a series of product and partnership announcements from its Dell Technologies World user conference with news that it is expanding on its existing partnership with…
Last week, we met with Hyzon Motors’ (HYZN; $0.51) CEO Parker Meeks and CFO Stephen Weiland at the Advanced Clean Transportation (ACT) Expo in Las Vegas. Our meeting suggested management is increasingly encouraged by opportunities…
This morning, Lucid Group (LCID; $2.72; E/W) disclosed in an 8-K filing that it is reducing its headcount by 6% or ~400 employees (vs. ~6,500 employees at the end of Q1), which is aimed across…
Yesterday (5/22), we met with ChargePoint’s (CHPT; $1.73; E/W) CEO Rick Wilmer and Patrick Hamer, VP of Capital Markets, and IR, at the Advanced Clean Transportation (ACT) Expo in Las Vegas. Our conversations highlighted how…