Core Viewpoint - Qualcomm Incorporated (QCOM) is considered undervalued with a strong position in edge AI, leading to a reiterated buy rating [1] Group 1 - The analyst has a focus on the tech sector and emphasizes the importance of core values such as Excellence, Integrity, Transparency, and Respect for long-term success [1] - The analyst invites constructive criticism and feedback from readers to enhance the quality of their work [1]

Core Insights - Lantronix Inc. is participating in the 2025 Gateway Conference on September 3-4, showcasing its leadership in Edge AI and Industrial IoT solutions [1][2][3] Company Overview - Lantronix Inc. is recognized as a global leader in Edge AI and Industrial IoT solutions, providing intelligent computing, secure connectivity, and remote management for mission-critical applications [3] - The company serves high-growth markets such as smart cities, enterprise IT, and unmanned systems for commercial and defense purposes, enabling customers to optimize operations and accelerate digital transformation [3] - Lantronix's portfolio includes hardware, software, and services that support applications like secure video surveillance and resilient out-of-band network management [3] Conference Participation - CEO Saleel Awsare and CFO Brent Stringham will engage in a fireside chat on September 3 at 10 a.m. Pacific Time, which will be webcast live [2] - One-on-one meetings will be held throughout the event, providing opportunities for direct engagement with investors [2]

Core Viewpoint - Lantronix has developed a TAA- and NDAA-compliant Edge AI solution that has been selected by Teal Drones for the production of Black Widow™ drones, enhancing its position in the defense market and providing early revenue visibility [1][2]. Company Summary - Lantronix Inc. is a leader in Edge AI and Industrial IoT solutions, focusing on intelligent computing, secure connectivity, and remote management for mission-critical applications [7]. - The company’s solutions are designed to optimize operations and accelerate digital transformation across various high-growth markets, including defense and commercial unmanned systems [7]. Industry Summary - The global drone market is projected to reach $57.8 billion by 2030, indicating significant growth opportunities for companies like Lantronix in the secure defense and commercial drone segments [4]. - The collaboration with Teal Drones positions Lantronix to support future defense and industrial IoT programs that require compliance with TAA and NDAA standards, creating long-term growth opportunities [5].

Core Viewpoint - Veea Inc. has successfully closed a public offering, raising approximately $6.0 million through the sale of 9,189,096 shares of common stock and accompanying warrants, with the intention to invest in inventory, customer support infrastructure, and general corporate purposes [1][3]. Group 1: Offering Details - The offering consisted of 9,189,096 shares of common stock and warrants at a combined price of $1.00 per share, with warrants exercisable at $1.10 per share [1][3]. - A total of 3,239,096 shares and accompanying warrants were issued to NLabs Inc. in exchange for the extinguishment of certain non-convertible promissory notes totaling $3,239,096 [2]. Group 2: Use of Proceeds - The net proceeds from the offering will be allocated towards investments in inventory, enhancing customer support infrastructure, and for working capital and general corporate purposes [3]. Group 3: Regulatory Compliance - The offering was conducted under a registration statement on Form S-1, which was declared effective by the SEC on August 12, 2025, and a final prospectus was filed on August 14, 2025 [4].

Core Viewpoint - RISC-V is emerging as a key solution across various fields due to its extensive instruction set, modularity, controllable costs, and flexible architecture, with significant breakthroughs expected in AI computing, automotive electronics, and high-performance general processing by 2025 [1] Group 1: Industry Trends - The global shipment of RISC-V-based SoC chips is projected to reach 20 billion units by 2031, capturing 25% of the global market share [1] - The ongoing global tariff war is disrupting international trade, making RISC-V's open-source architecture a resilient solution in the current geopolitical climate [7] - The rise of the DeepSeek AI model is redefining the AI ecosystem, enabling lower-performance SoCs to achieve equivalent performance, thus unlocking potential for edge AI deployment [7] Group 2: Company Developments - Andes Technology is actively advancing its RISC-V processor IP, platform, and hardware-software ecosystem, offering a wide range of products from entry-level to high-end RISC-V solutions [5] - The company is collaborating with various partners to explore innovative applications and technological trends in high-performance computing [2] - Andes Technology will showcase its latest technological achievements and product roadmap at the upcoming annual technical seminar [1][2] Group 3: Security and Innovation - The increasing adoption of RISC-V in AI, automotive electronics, and IoT has heightened the focus on information security challenges [10] - PUFsecurity is introducing a hardware security module integrated with RISC-V CPU to establish a comprehensive trust foundation and security resilience [10] - The integration of RISC-V with trusted root technology is essential for enhancing the security level of SoC designs, particularly in automotive and data center applications [20]

Core Viewpoint - Veea Inc. has announced a public offering of 6,000,000 shares of common stock and warrants, aiming to raise approximately $6 million in gross proceeds to support its operations and infrastructure investments [1][3]. Group 1: Offering Details - The offering price is set at $1.00 per share, with warrants to purchase additional shares at an exercise price of $1.10, which will be exercisable immediately and expire in five years [1][3]. - NLabs Inc., an existing stockholder, will exchange $3,239,096 in non-convertible promissory notes for 3,239,096 shares of common stock and accompanying warrants at the public offering price [2]. Group 2: Use of Proceeds - The net proceeds from the offering will be utilized for investments in inventory, customer support infrastructure, working capital, and general corporate purposes [3]. Group 3: Regulatory Information - The offering is being conducted under a registration statement on Form S-1, which was declared effective on August 12, 2025 [4].

Summary of GlobalFoundries Conference Call Company Overview - **Company**: GlobalFoundries - **Industry**: Semiconductor Foundry - **Position**: Top five foundry globally with a unique geographical footprint [3][4] Core Strategies and Differentiation - **Technology Focus**: Emphasis on analog mixed signal content and process technologies ranging from 12nm to 180nm [4] - **Geographical Footprint**: Operations in Singapore, Dresden (Germany), and Upstate New York (Malta) with a recent "China for China" strategy to partner with local suppliers [5][6][27][28] - **End Market Coverage**: - 40% revenue from smart mobile devices - Strong automotive franchise with expected mid-teens growth in 2025 - Growing IoT business and robust activity in comms infrastructure and data centers [6][19][20] Market Dynamics and Geopolitical Considerations - **Geopolitical Tensions**: GlobalFoundries is well-positioned due to its localized operations in major regions, which enhances customer interest amid tariff policies [12][13] - **Supply Chain Assurance**: Focus on cross fab fungibility to optimize capacity needs and ensure supply chain diversity [10][14][15] Financial Performance and Growth Outlook - **Q2 Results**: Continued strength in automotive and smart mobile markets; high teens growth expected in comms infrastructure and data centers [19][20][21] - **Design Wins**: Achieved nearly 200 design wins in Q2, indicating strong future growth potential [22] - **Automotive Market Growth**: Revenue in automotive increased from $100 million in 2020 to $1.2 billion last year, with expectations for continued growth [24][36] Key End Markets and Innovations - **Silicon Photonics**: Expected to generate approximately $200 million in revenue, with significant growth tied to AI infrastructure [31][32] - **Automotive Content Growth**: Anticipated increase in silicon content per vehicle from $500 to $1,500 over the next few years, driving revenue diversification [36][38] Capital Expenditure and Utilization - **CapEx Outlook**: Flat CapEx expected this year, with potential increases in 2026 based on demand signals [50][51] - **Utilization Rates**: Current utilization in the low 80s, with room for improvement to enhance gross margins [47][48] Competitive Landscape - **Competitors**: TSMC is recognized as a strong competitor, but GlobalFoundries believes its unique advantages in technology and footprint will allow it to thrive [41][43] Conclusion - GlobalFoundries is strategically positioned to capitalize on growth opportunities in the semiconductor industry, particularly in automotive, IoT, and data center markets, while navigating geopolitical challenges and ensuring supply chain resilience. The company is focused on enhancing its technological capabilities and expanding its market presence through strategic partnerships and innovations.

Financial Performance - Total revenue reached $25.7 million[2], compared to $28.4 million in Q2'24[2], a decrease of approximately 9.5% - Non-GAAP earnings per share were 7 cents[2], down from 17 cents in Q2'24[2] - GAAP earnings per share were a loss of 15 cents[2], compared to a loss of 1 cent in Q2'24[2] - Licensing and related royalties revenue was $15 million[4] in Q2'25, compared to $17.3 million[4] in Q2'24, a decrease of approximately 13% - Non-GAAP operating income was $1.8 million[4] in Q2'25, compared to $4.4 million[4] in Q2'24, a decrease of approximately 59% - Non-GAAP net income was $0.8 million[4] in Q2'25, compared to $4.2 million[4] in Q2'24, a decrease of approximately 81% Business Highlights - The company signed four new NPU agreements during the quarter[1] - The company returned $6.2 million to shareholders via stock repurchase of 300,000 shares[9] Shipment Data - Total units shipped reached 488 million[8], including 55 million smartphones[8] and 433 million smart edge devices (excluding smartphones)[8] - Smart Edge shipments include 254 million Bluetooth units[8], 62 million Wi-Fi units[8], and 66 million Cellular IoT units[8] Financial Stability - The company has $157 million in cash, cash equivalents, marketable securities, and bank deposits at the end of Q2, and is debt free[9]

Core Viewpoint - Ceva, Inc. reported its Q2 2025 financial results, highlighting a decline in revenue compared to the previous year but showcasing growth in AI licensing and device shipments, particularly in cellular IoT and Wi-Fi 6 technologies [2][3][4]. Financial Performance - Total revenue for Q2 2025 was $25.7 million, down from $28.4 million in Q2 2024, representing a year-over-year decrease of approximately 9.5% [3]. - Licensing and related revenue for Q2 2025 was $15.0 million, compared to $17.3 million in Q2 2024, a decline of about 13.3% [3]. - Royalty revenue for Q2 2025 was $10.7 million, down from $11.2 million in the same quarter of 2024, a decrease of approximately 4.5% [3]. Profitability Metrics - GAAP gross margin for Q2 2025 was 86%, down from 90% in Q2 2024 [5]. - GAAP operating loss for Q2 2025 was $4.5 million, compared to a loss of $0.04 million in Q2 2024 [5]. - Non-GAAP net income for Q2 2025 was $1.8 million, with diluted income per share of $0.07, compared to $4.2 million and $0.17 per share in Q2 2024 [6][14]. Licensing and Agreements - The company concluded 13 licensing agreements in Q2 2025, including 4 AI deals for the NeuPro product line and 2 strategic automotive IP agreements with U.S. companies [2][4]. - The AI business is scaling, with significant customer adoption reflected in the new NPU agreements signed during the quarter [4][7]. Device Shipments and Milestones - Ceva-powered device shipments reached 488 million units in Q2 2025, including record shipments in cellular IoT and Wi-Fi 6 technologies [2][8]. - The company surpassed the milestone of 20 billion Ceva-powered devices shipped, reinforcing its leadership in wireless connectivity IP [4][8]. Share Repurchase Program - During the quarter, Ceva repurchased 300,000 shares of its stock for approximately $6.2 million, indicating a commitment to returning value to shareholders [8][9].

Financial Data and Key Metrics Changes - Revenue for fiscal year 2025 increased by 12% to $1,074 million, driven by strong performance in core IoT products, which grew 53% year over year [10][20] - For fiscal Q4, revenue was $282.8 million, up 14% year over year and slightly above the midpoint of guidance [10][21] - Non-GAAP gross margin for Q4 was 53.5%, in line with guidance, while non-GAAP EPS increased by 58% year over year to $1.01 [11][23] Business Line Data and Key Metrics Changes - Core IoT product sales increased by 55% year over year in Q4, accounting for 30% of total revenue [11][22] - Enterprise and automotive product revenues improved by 4% year over year but decreased by 3% sequentially, primarily due to softness in automotive demand [15][22] - Mobile touch product revenues increased by 8% sequentially, remaining roughly flat year over year [22] Market Data and Key Metrics Changes - The company is seeing strong traction in the Wi-Fi 7 solutions, with design opportunities across various customer segments including IoT, enterprise, and automotive applications [11][12] - Demand in the enterprise segment is recovering modestly, while automotive demand remains soft [15][20] Company Strategy and Development Direction - The company aims to expand its share in existing markets and explore new ones, focusing on core IoT growth and maintaining a disciplined execution strategy [9][10] - There is a strong emphasis on leveraging existing capabilities in analog mixed signal, multicore processors, and wireless connectivity to drive long-term value [8][9] - The company plans to evaluate its product portfolio and shape its roadmap for sustained success [9] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's positioning to gain market share during the Wi-Fi 7 technology transition and highlighted the potential of new edge AI processors [12][13] - The management acknowledged the uncertain macroeconomic environment but remains optimistic about revenue growth in core IoT, projecting a revenue midpoint of approximately $290 million for Q1 2026 [26][50] Other Important Information - The company reduced total gross debt by approximately $134 million or 14% during the fiscal year [21] - A new share repurchase program for up to $150 million was authorized, reflecting the board's confidence in the long-term strategy [24] Q&A Session Summary Question: How might the strategy change for Synaptics in the IoT market? - Management indicated excitement about the portfolio and plans to enhance the offering by integrating processors, wireless connectivity, and mixed signal capabilities [29][30] Question: Are there other building blocks needed to fill out the solution? - Management emphasized a disciplined approach to investments, focusing on organic growth while remaining open to inorganic opportunities if they align with growth in core IoT [33][34] Question: Have any low ROI investments been identified? - Management is reviewing all product categories and will provide clearer direction at the Analyst Day regarding focus areas and potential product pruning [39][40] Question: Can you elaborate on order activity and channel inventory levels? - Management noted improved order activity and healthy backlog levels, with lean channel inventories that are expected to replenish as demand trends improve [43][46] Question: How sustainable is the improvement in enterprise demand? - Management expressed confidence in the visibility of revenue trends for the upcoming quarters, although they noted typical seasonality patterns in March [50][62] Question: What is the outlook for margins? - Management indicated that improving the margin profile will depend on product mix and the introduction of new products, with long-term gross margins expected to improve [66][68]