Technology

Technology Sector Update for 02/17/2017: COHU,ANET,AMBR

Top Tech Stocks

MSFT -0.15%

AAPL +0.08%

IBM -0.57%

CSCO +0.12%

GOOG +0.30%

Technology stocks were edging higher today, with shares of tech companies in the S&P 500 climbing 0.1%.

In company news, Cohu ( COHU ) was set to finish with a double-digit advance Friday at a six-year high after the semiconductor testing company reported Q4 financial results beating analyst estimates and also forecast Q1 revenue also beating Wall Street expectations.

Excluding one-time items, the company earned $0.24 per share during the three months ended Dec. 31, improving on a $0.09 per share profit during the same quarter last year and beating the Capital IQ consensus by $0.15 per share. Revenue increased 11.3% over year-ago levels to $70.7 million, also breezing past the the $65.12 million consensus.

For the current quarter ending March 31, the company is expecting around $78 million in Q1 revenue compared with the Street view looking for $69 million. The company last night also declared a quarterly cash dividend of $0.06 per share, payable on April 14 to shareholders of record on February 28.

COHU shares were up more than 15% at $15.73 apiece in late trade, earlier climbing to their best price since January 2011 at $16.09 a share.

In other sector news,

(+) ANET, RBC Capital Markets boosts price target by $10 to $115 while BMO raises its target by $20 to $130 a share. Late Thursday reports non-GAAP Q4 EPS of $1.04, beating analyst mean by $0.22 per share. Revenue rises 34% to $328 mln, also surpassing $317.1 mln Street view.

(-) AMBR, Projected non-GAAP Q1 net loss of $0.15 to $0.12 per share at least $0.02 wider than Capital IQ consensus. Also sees Q1 revenue between $18.2 mln to $18.8 mln, also missing the $19.4 mln consensus. Q4 net loss of $0.10 on $19.2 mln in revenue match and beat analyst estimates, respectively.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

COHU ANET

Other Topics

Commodities

Latest Technology Videos

    MTNewswires

    Founded in 1999, MT Newswires (formerly known as Midnight Trader) is a leading provider of original source, multi-asset class, real-time, global financial news and information to most of the largest banks, brokerage firms and professional market data, trading & research applications in North America.

    Learn More