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Thursday, September 13, 2007
SiRF Technology (NASDAQ:SIRF): Repeat Actionable Call Alert following OpCo comments
Oppenheimer has has positive comments on SiRF Technology (NASDAQ:SIRF) as the co's CFO Geoff Ribar and Corporate controller Dennis Bencala were present at the firm's bus tour.
According to OpCo SIRF could be seeing share gain at Tomtom in Q3 versus Q2, with the new Tomtom ONE model ramping and its position should improve into Q4. Also company has included little to no contribution from MOTOROLA handsets for 2H07, so any ramp in Motorola phones, they are estimating 400K units at $3-4 could be an upside opportunity by firm's estimate for 2H07.
Company saying Centrality tracking to plan. RIMM and HTC should provide near term handset strength. For 2008: SIRF could see Sony Ericcson handsets as an almost sure opportunity as GlobalLocate/Broadcom has gotten bumped out of Sony Ericcson. Company could also see initial royalty revs from Renesas and Intel UMPC.
Opco sees SIRF as good near term opportunity with upside from share gains in PND and possible MOT product introductions. Reits Buy and $28 tgt.
Notablecalls: Please see my positive call on SIRF from 2 days ago. The call was based on smartphone inflection and Motorola orders starting to ramp. Now we have OpCo out saying SRIF is seeing share gains at TomTom! That's the PND side that's supposed to be weakish! And BRCM is being bumped out of SonyEricsson? Whew!
This story is just getting better by day! The short interest still stands close to 20%. What are these guys thinking? I would be covering here. And I suspect they will.
I'm going to issue a repeat Actionable Call Alert on SIRF right here. This one's going higher!
According to OpCo SIRF could be seeing share gain at Tomtom in Q3 versus Q2, with the new Tomtom ONE model ramping and its position should improve into Q4. Also company has included little to no contribution from MOTOROLA handsets for 2H07, so any ramp in Motorola phones, they are estimating 400K units at $3-4 could be an upside opportunity by firm's estimate for 2H07.
Company saying Centrality tracking to plan. RIMM and HTC should provide near term handset strength. For 2008: SIRF could see Sony Ericcson handsets as an almost sure opportunity as GlobalLocate/Broadcom has gotten bumped out of Sony Ericcson. Company could also see initial royalty revs from Renesas and Intel UMPC.
Opco sees SIRF as good near term opportunity with upside from share gains in PND and possible MOT product introductions. Reits Buy and $28 tgt.
Notablecalls: Please see my positive call on SIRF from 2 days ago. The call was based on smartphone inflection and Motorola orders starting to ramp. Now we have OpCo out saying SRIF is seeing share gains at TomTom! That's the PND side that's supposed to be weakish! And BRCM is being bumped out of SonyEricsson? Whew!
This story is just getting better by day! The short interest still stands close to 20%. What are these guys thinking? I would be covering here. And I suspect they will.
I'm going to issue a repeat Actionable Call Alert on SIRF right here. This one's going higher!
posted by notablecalls # 8:59 AM 
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