7 July 2025 | 3:27PM HKT Hua Hong (1347.HK): Mgmt. Call: Full UT rate to support pricing trend; GM improvements ahead despite D&A burdens; Neutral We hosted Hua Hong management on July 7 in our China Semis Corp Call series (July 7 - 10). Key discussions were around pricing strategies, UT rates, the company's capacity expansion plans and outlook on margin levels. Overall, Hua Hong remains positive on their operations, with UT rates of its major fabs at 100% or above, supported by a strong demand across power ...

DALLAS, July 1, 2025 /PRNewswire/ -- Texas Instruments Incorporated (TI) (Nasdaq: TXN) will webcast its second quarter 2025 earnings conference call on Tuesday, July 22, at 3:30 p.m. Central time. Haviv Ilan, president and chief executive officer, Rafael Lizardi, senior vice president and chief financial officer, and Mike Beckman, vice president and head of Investor Relations, will discuss TI's financial results and answer questions from the investor audience. Texas Instruments Incorporated (Nasdaq: TXN) is ...

Skyworks Solutions TodaySWKSSkyworks Solutions$74.65 +0.38 (+0.51%) 52-Week Range$47.93▼$120.86Dividend Yield3.75%P/E Ratio29.27Price Target$78.29Add to WatchlistSkyworks Solutions Inc. NASDAQ: SWKS is down 16% in 2025, lagging many technology stocks. The company produces analog semiconductors, and its core business is radio frequency (RF) components for wireless communications. That provides a predictable revenue stream, particularly when the company generates 50% of its revenue from Apple Inc. NASDAQ: AA ...

Industry Overview - The semiconductor industry is crucial for technological advancements in HPC, AI, automated driving, and IoT, with a bright long-term outlook due to the essential role of semiconductors in cloud functionality and data analysis [1] - Global semiconductor sales are projected to grow by 11.2% this year, following a 19% increase in 2024, driven by AI workloads demanding high-end logic chips and high-bandwidth memory [4] - Advanced nodes (below 20nm) capacity is expected to increase by 12%, with utilization remaining above 90%, while mature nodes utilization is projected to rise from 70% in 2024 to above 75% this year [5] Market Challenges - Geopolitical instability and U.S. tariffs are creating challenges, disrupting supply chains, delaying deliveries, and increasing prices, which may lead to a rich valuation despite the industry's long-term potential [2][3] - The ongoing geopolitical tensions, particularly regarding China and Taiwan, are raising concerns about supply chain disruptions and national security implications [9][17] Company Insights - NVIDIA Corp. is highlighted as a strong investment opportunity, with its GPUs leading in gaming and significant growth in enterprise, data center, and automotive sectors [24][27] - Texas Instruments (TXN) is also recommended for tracking, focusing on internal manufacturing capacity expansion and benefiting from U.S. semiconductor manufacturing incentives [31][34] Financial Performance - The semiconductor industry has gained 17.9% over the past year, outperforming the broader technology sector and S&P 500 index [18] - The industry is currently trading at a forward P/E ratio of 32.79X, which is below its median value but appears overvalued compared to the S&P 500 and broader sector [21][22] Future Growth Drivers - The industrial IoT market is expected to grow at a 12.7% CAGR between 2025 and 2033, driven by advancements in connectivity and AI adoption [7] - AI is identified as the largest driver of the semiconductor industry, transforming efficiency and competitiveness across various sectors [11][12]

Key Takeaways SKYT plans to acquire Fab-25 to drive high-volume chip production and Wafer Services' revenue growth. A four-year, $1B supply deal is expected to add $300M in 2025 revenues for SKYT and lift cash flow. Fab-25 expands SKYT's 200 mm CMOS capacity, aligning with U.S. onshoring and secure chip demand.SkyWater Technology (SKYT) is making a strategic move with its planned acquisition of Fab-25 from Infineon Technologies, expected to close on June 30, 2025. The deal is poised to accelerate Wafer Se ...

Core Viewpoint - The article emphasizes the critical role of Analog-to-Digital Converters (ADCs) as a bridge between the analog and digital worlds, highlighting the significant growth potential in the ADC market driven by increasing demand in various sectors such as communication, defense, industrial medical, and artificial intelligence [1][4]. Market Overview - The global ADC market is projected to exceed $30 billion in 2024, with a compound annual growth rate (CAGR) of 7.5% [1]. - The ADC market has been historically dominated by international giants like ADI and TI, particularly in the high-speed and high-precision segments [2]. Technological Advancements - Recent advancements in ADC technology have led to significant improvements in conversion rates, signal bandwidth, and power consumption, expanding application areas [4]. - For instance, ADI's latest high-speed ADC product, based on 28nm technology, has achieved a performance of 12-bit at 10GSPS, capable of processing 5G millimeter-wave signals [4]. Domestic Market Dynamics - The high-end ADC market in China has a domestic production rate of less than 5%, creating a substantial opportunity for local manufacturers to fill this gap [4]. - The trend towards domestic substitution is expected to create a "blue ocean" for domestic high-speed and high-precision ADC chips [4]. Product Launch - Chengdu Huamei Electronics recently launched the HWD12B16GA4, a 4-channel, 12-bit, 16GSPS high-speed ADC, which boasts an input analog bandwidth of up to 10GHz and a high dynamic range [5][6]. - This product is positioned to break the long-standing monopoly of international giants in the high-speed and high-precision ADC market, marking a significant milestone in domestic innovation [6]. Competitive Comparison - The HWD12B16GA4 outperforms international competitors, with a sampling rate of 16GSPS and an input bandwidth of 10G, compared to TI's ADC12DJ5200RF and ADI's AD9213, which have lower sampling rates and bandwidths [6]. R&D Capabilities - Chengdu Huamei's converter technology research center has become a core design platform for high-end mixed-signal chips in China, employing over 60 professionals with expertise across various domains [7]. - The company has developed a product line covering resolutions from 8 to 12 bits and sampling rates from 8GSPS to 128GSPS, receiving positive feedback from multiple users [7][8]. Future Outlook - The company aims to continue advancing its ADC technology, focusing on high integration, large bandwidth, high linearity, low error rates, and low power consumption, with products that meet international standards [8][9]. - The successful launch of the HWD12B16GA4 and the strength of the R&D team suggest promising future developments in the ADC sector for Chengdu Huamei [9].

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"TI is building dependable, low-cost 300mm capacity at scale to deliver the analog and embedded processing chips that are vital for nearly every type of electronic system," said Haviv Ilan, president and CEO of Texas Instruments. "Leading U.S. companies such as Apple, Ford, Medtronic, NVIDIA and SpaceX rely on TI's world-class technology and manufacturing expertise, and we are honored to work alongside them and the U.S. government to unleash what's next in American innovation." "For nearly a century, Texas ...

The analog/mixed signal semiconductor market as a whole should continue to grow this year, following a very strong 2024. Macro and geopolitical developments, particularly with respect to China given the industry’s dependence on it keep us cautious despite the fact that we are currently in a growth cycle in semiconductors. We think there may be opportunity in Semtech Corp. (SMTC) and Analog Devices (ADI) . The World Semiconductor Trade Statistics (WSTS), which supplies data to the Semiconductor Industry Asso ...