This Week’s Tech Earnings Winners and Losers: Ubiquiti, Acme Packet, Anadigics, OCZ and More (IDTI, PMCS, ANAD, BRCM, CAVM, FLEX, FORM, OCZ, UBNT, APKT)
Earnings season is upon us in the tech sector. What should investors expect from these reports? What are the key storylines to follow and are these stocks likely to trade higher or lower in the wake of their results?
In NextInning.com’s earnings previews, available free to trial subscribers, key storylines are evaluated, analyst expectations are audited, and in depth valuation analyses are provided to develop fair value ranges for dozens of stocks. Next Inning’s model portfolio has returned 291% since 2002, nearly six times the return of the S&P 500.
In its latest earnings preview, Next Inning looks at several popular stocks, including Integrated Device Technology (IDTI), PMC-Sierra (PMCS), Anadigics (ANAD), Broadcom (BRCM), Cavium (CAVM), Flextronics International (FLEX), FormFactor (FORM), OCZ Technology Group (OCZ), Ubiquiti Networks (UBNT), and Acme Packet (APKT).
Here is just a tiny sample of what Editor Paul McWilliams wrote about Ubiquiti:
“Analysts estimate Ubiquiti’s fiscal 2012 (ends June 2012) non-GAAP earnings will come in at $1.05. I think this will prove to be a bit too low and expect Ubiquiti to report something in the range of $1.08 to $1.12. My one caveat here is I’m estimating the full year fully diluted share count will be less than 94.5M. The fiscal 2013 non-GAAP earnings consensus is $1.25. I again think this will prove to be a bit too low and that we should anticipate something in the range of $1.30 to $1.40.
“If we base our valuation model off a range of 2013 non-GAAP earnings estimates running from the $1.25 consensus to the high side of my estimated range, $1.40, use a range of valuation multiples that runs from 20 to 22, and add the $0.76 estimated balance sheet value to the results, the estimated three to six month target range runs from…”
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