Our view is that semiconductor growth rates have compressed to a level such that inventory cycles are not able to drive equity valuation outperformance.
FORBES: Chips: RBC Wary; Cuts Ratings On INTC, NVDA, TXN, ADI
Memories are the most volatile part of semiconductors, so improvements in memories are important to driving overall semiconductor growth, along with growth in semiconductor capital equipment.
Curtis writes in a research note that he remains tempered on the outlook for RF semiconductor growth, but that he nonetheless sees upside for RF Micro from both new products and market share gains.
FORBES: RF Micro Spikes As Barclays Ups Rating To Overweight
The semiconductor industry is undergoing a shift with tablets and smartphones replacing PCs as the growth engine of the semiconductor industry.
FORBES: Why Growth In Mobile Devices Will Fuel Micron's DRAM Shipments
Weakness in the global economy has led to lower consumer spending and slower growth in the semiconductor market.
The semiconductor industry averages 18% growth, so this is a very painful period.
Revenue growth in the semiconductor industry is expected to accelerate from a flat year in 1998 to 26% by 2001, says InStat, market research firm in Scottsdale, Arizona.
Revenue growth in the semiconductor industry is expected to accelerate from a flat year in 1998 to 26% by 2001, says In-Stat, a market research firm in Scottsdale, Ariz.
In the late 1990s the seemingly boundless corporate spending on servers and computers in the heady days of the dot-com bubble fueled the growth of the semiconductor industry.
This year the growth is expected to be quite a bit slower, but still it should easily double the 10% unit growth of the semiconductor industry as a whole.
" Ronovech goes on to explain that, despite the semiconductor industry being out of favor due to concerns about the global economic slowdown, he expects that "even a modest continuation of global economic recovery should drive growth in demand for semiconductor test equipment in 2011.
The semiconductor industry is extremely cyclical, enjoying unusual growth in boom times when electronic equipment and computers are flying off the shelves, and significant softness in economic slowdowns.
As the semiconductor industry and the PLD market have matured, revenue growth in the PLD segment is on the decline.
To European semiconductor manufacturer STMicroelectronics, however, these tiny motion sensors are an important growth area.
FORBES: Chipmaker STMicroelectronics Sees Big Opportunity In Micro Sensors
But the rapidly growing mobile device market has attracted the attention of a diverse set of semiconductor manufacturers who are all vying for a greater chunk of the high-growth, high-margin business in the coming years.
Other semiconductor market research firms have also recently reduced their forecasts, and have changed their growth outlooks for 2012 from positive to negative numbers.
With semiconductor customers having returned to financial health and looking to design new chips that drive future growth, the environment for EDA purchases has improved.
TSMC's revenue growth will, sooner or later, lead to higher costs as well, because in the semiconductor business sales, raw materials and capital equipment are all priced in dollars.
Perhaps most interesting is that the World Semiconductor Trade Statistics (WSTS) which compiles numbers from all the charted companies except SanDisk showed aggregate bit growth lower than that of any of the companies on the chart.
According to Baggini, NetLogic, a semiconductor company focused on Internet network technology, has a tremendous track record of top- and bottom-line growth, and that current consensus estimates for both are too low.
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