In today’s briefing:
- MV US Listed Semiconductor 25 Index Rebalance: US$1bn to Sell in NVIDIA
- Avnet Inc.: New Launches
- Guidewire Software Inc.: A Tale Of Strategic Focus on Modernization and Generative AI! – Major Drivers
- Littelfuse Inc.: Will Its Increased Design Win Momentum Last? – Major Drivers
- MACOM Technology Solutions: How They Are Strengthening Market Presence in Data Centers and Telecom! – Major Drivers
- Smartsheet Inc.: Focus on Artificial Intelligence (AI) and User Engagement! – Major Drivers
MV US Listed Semiconductor 25 Index Rebalance: US$1bn to Sell in NVIDIA
- There are no constituent changes for the VanEck Vectors Semiconductor (SMH US) ETF in June but there are a lot of float and capping changes.
- There is US$1bn to sell in NVIDIA Corp (NVDA US) while there will be passive buying in Advanced Micro Devices (AMD US) and Intel Corp (INTC US).
- The selling in NVIDIA Corp (NVDA US) will offset part of the potential passive buying from Technology Select Sector SPDR (XLK US) and other similar ETFs.
Avnet Inc.: New Launches
- Avnet delivered mixed financial results in its third quarter of fiscal year 2024.
- While the company met the strategic objectives and forecasts laid out for the period, several nuances within the report reveal the complex environment in which the company is currently operating.
- Avnet reported a revenue of $5.7 billion for the quarter, a figure that aligns with company projections but represents a significant decline compared to the previous year’s figures.
Guidewire Software Inc.: A Tale Of Strategic Focus on Modernization and Generative AI! – Major Drivers
- Guidewire recently disclosed its results for the third quarter of fiscal year 2024, which exhibited a strong operational performance and positive strategic developments.
- The company, which provides insurance software, expressed confidence in its cloud-based offerings and reported significant progress in both customer traction and financial metrics.
- During this quarter, Guidewire saw substantial customer adoption, evidenced by the closure of eight InsuranceSuite Cloud deals, bringing the year-to-date tally to 24—an increase of 33% year-over-year.
Littelfuse Inc.: Will Its Increased Design Win Momentum Last? – Major Drivers
- Littelfuse, a global leader in circuit protection, reported its first quarter 2024 results which reflect a balanced narrative of progressing through challenges while capitalizing on long-term growth opportunities.
- The company continues to execute its strategies amid an evolving macroeconomic context, emphasizing diversification and operational efficiency which has been pivotal in navigating high inflation and uncertain market conditions.
- Littelfuse reported a drop in revenue by 12% year-over-year, attributing much of this decline to ongoing inventory adjustments across its channels and weaker end-market demands particularly noted in the Electronics and Industrial segments.
MACOM Technology Solutions: How They Are Strengthening Market Presence in Data Centers and Telecom! – Major Drivers
- MACOM’s financial results for the second fiscal quarter of 2024 reflect a healthy and profitable business environment, with continuing investments aimed at future growth opportunities.
- The company reported a revenue of $181.2 million, a 15.3% sequential increase, and adjusted EPS of $0.59 per diluted share.
- These figures are indicative of MACOM’s robust performance, particularly in the Industrial and Defense (I&D) and telecom sectors, demonstrating strong existing operations and the added financial benefits from the recent acquisition of an RF business.
Smartsheet Inc.: Focus on Artificial Intelligence (AI) and User Engagement! – Major Drivers
- Smartsheet has reported a strong start to the fiscal year 2025 with a number of positive developments, though there are areas that warrant close observation as the company moves forward with its new initiatives.
- Smartsheet’s growth narrative continues to strengthen with a reported annualized recurring revenue (ARR) of $1.056 billion, marking an increase of 19% year-over-year.
- This growth has been buoyed by a significant increase in the number of customers contributing more than $100,000 to Smartsheet’s ARR, indicating robust customer expansion and deeper penetration within existing accounts.
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