Zeit für MEMC - Ziel 6 USD

Analysts generally think investors should stand pat on MEMC Electronic, with 10 of 17 analysts rating it hold. Analysts have become more optimistic about the stock recently and the number of buy ratings has risen slightly over the past three months.

Competitors:

MEMC Electronic manufactures silicon wafers that serve as the base material for the production of semiconductor devices. It also has a segment that develops and sells photovoltaic energy solutions, including the installation and maintenance of solar energy systems and the sale of solar-generated electricity. One of MEMC Electronic’s main competitors in the semiconductors and semiconductor equipment industry is Micron Technology (MU). Other competitors in the information technology sector include: AXT (AXTI), Spansion (CODE), and Cymer (CYMI).

Recent Price Movement:

The stock price has fallen 34% to $3.48 from $5.27 since February 6, 2012. The price is within 17 cents of its 52-week low ($3.31), which was set on April 10, 2012.

Semiconductor maker MEMC Electronic Materials(WFR) rounds out the last technology short squeeze candidate stock. MEMC reports after the close on Wednesday. Wall Street is expecting about -0.15 cents, with many experts predicting -0.18 cents or -0.19 cents.

■Analysts are expecting MEMC to move from losing money to making money. The forward price-to-earnings ratio is only 5.7, but don't give this ratio too much weight before it stabilizes.

■Almost 13% of the float is short for a record number of shares shorted at 26.3 million.

■Even with more than 7 million shares a day traded, the short interest amounts to 3.7 days of volume.

Finding stocks that may move higher due to a short squeeze can be financially rewarding and also satisfying -- you know you outsmarted the "smart money." When you do find one, it's OK to brag a little about it. Don't worry, I won't tell anyone.

2 Stocks Slide to 52-Week Lows: Hecla, MEMC Electronic
by Alexandra Zendrian 05/07/12 - 01:51 PM EDT

MEMC Electronic Materials

The company is scheduled to report first-quarter earnings on Wednesday. Analysts, on average, expect a loss of 16 cents a share on revenue of $496.44 million.

"We forecast 50MW of interconnections during the quarter and model 410 MW in CY12 aided by pipeline exposure to N. America," Bank of America Merrill Lynch analysts wrote in a report Monday. "While the semiconductor segment could improve from a 1Q trough, we anticipate tough conditions for the solar business to prevail through the year. Polysilicon spot pricing remains depressed, falling below $25/kg in recent weeks. Our June Q rev/EPS estimates are $668M/$0.00 (Street at $631M/($0.01)). Maintain Neutral rating."

Shares of MEMC Electronic Materials hit a 52-week low Monday of $3.29. The stock's 52-week high of $11.36 was set on May 10.

MEMC Electronic Materials' forward P/E is 5.87; the average for semiconductor companies is 24.71. For comparison, Intersil(ISIL) has a higher forward P/E of 14.69.

Eleven of the 23 analysts who cover MEMC Electronic Materials gave the stock a hold rating. Eight analysts rated the stock buy and four gave it a sell rating.

The stock has fallen 14.97% year to date.

MEMC believes that the cyclical downturn hurting the semiconductor industry will likely bottom out by the next quarter. Though first quarter revenues could be 10.0–15.0% lower sequentially, order growth could ramp by the second quarter of 2012. Moreover, the company believes that revenue in second half 2012 could be stronger than in the first half.

For our detailed blog on the fourth quarter, please see this link: MEMC Incurs Loss on Low Chip Demand

Agreement of Analysts

The analysts are concerned about declining solar wafer pricing due to a supply glut. The analysts believe that it would not be possible for MEMC to offset the price declines with the ongoing cost reduction program.

We believe these issues are ongoing and the situation is unlikely to change in the near term. We also do not see any other catalysts that could affect earnings at this point, which is most likely the reason that the last 30 days saw minimal estimate revisions for both the first quarter and fiscal 2012.

Magnitude of Estimate Revisions

Given the limited revisions, the Zacks Consensus Estimates for the first quarter and fiscal 2012 remained unchanged in the past 30 days at a loss per share of 15 cents and earnings per share of 15 cents, respectively. But the estimates for the first quarter and fiscal 2012 fell 9 cents and 18 cents, respectively, in the past 90 days.

Recommendation

We believe that MEMC’s first quarter results will be impacted by continued solar price declines. Though the company is trying to fight lower ASPs and higher costs through a major restructuring effort, we doubt that any positive impact from the initiative will be seen from results until later in 2012. In the meantime, stable pricing in the semiconductor vertical could provide some support.

We see MEMC’s solar energy initiatives as a key driver for the long term. The company has tie-ups with key players such as Flextronics International Ltd. (FLEX) and Jusung Engineering Co. Ltd. to make its solar ventures efficient and profitable. The company is also seeing solar demand cropping up in India.

But the oversupply situation in the solar market is a concern. Moreover, MEMC’s long-term solar wafer supply agreement with Suntech Power Holding Co. Ltd. (STP) also came to an end. The persistent fall in polysilicon prices led to lower pricing for solar channels. As the long-term pact was on a higher price, the receiving party decided to cease the agreement. On the other hand, more polysilicon production could negatively affect the oversupply situation in solar chip demand.

Currently, MEMC has a Zacks #3 Rank, implying a short-term Hold recommendation.

MEMC Electronic Materials Inc (NYSE: WFR) is projected to post a Q1 loss at $0.16 per share on revenue of $496.44 million.

Read more: www.benzinga.com

MEMC Wednesday reported first-quarter net loss of $92.0 million or $0.40 per share, compared to $4.5 million or $0.02 per share last year.

Adjusted net loss for the quarter was $59.4 million or $0.26 per share, compared to adjusted net income of $21.5 million or $0.09 per share last year. On average, analysts polled by Thomson Reuters expected loss of $0.16 per share for the quarter. Analysts' estimates typically exclude one-time items.

Revenues for the first quarter dropped 29 percent to $519.2 million from $735.9 million in the first quarter last year. Adjusted revenues for the quarter were $523.8 million, a decrease of 37 percent from $832.6 million in the first quarter last year. Analysts estimated revenues of $496.37 million for the quarter.

MEMC Electronic Materials rutscht nach Umsatzeinbruch tiefer in die roten Zahlen

Donnerstag, 10. Mai 2012, 11.09 Uhr
ST. PETERS (IT-Times) - Der amerikanische Solar-Waferhersteller MEMC Electronic Materials ist im vergangenen ersten Quartal 2012 tiefer in die roten Zahlen gerutscht, nachdem das Unternehmen einen Umsatzeinbruch hinnehmen musste.


Für das vergangene Märzquartal meldet MEMC (NYSE: WFR, WKN: 896182) einen Umsatzeinbruch auf 519,2 Mio. US-Dollar, ein Rückgang von 29 Prozent gegenüber dem Vorjahr, als das Unternehmen noch Einnahmen von 735,9 Mio. Dollar verbuchen konnte. Ursächlich für den Umsatzeinbruch ist die weiterhin schwache Gesamtnachfrage im Solar-Wafermarkt. Wie MEMC weiter mitteilt, sei der Umsatzeinbruch nicht zuletzt auf die Schwäche im Halbleitermaterialgeschäft zurückzuführen, nachdem sich der Preisverfall weiter fortsetzte. Zudem sank das Ausliefervolumen.

Der Nettoverlust weitete sich im jüngsten Quartal auf 92 Mio. US-Dollar oder 0,40 Dollar je Aktie aus, nachdem im Jahr vorher ein Nettoverlust von 4,5 Mio. Dollar entstand. Ausgenommen außergewöhnlicher Sonderbelastungen summierte sich das Minus im jüngsten Quartal auf 26 US-Cent je Aktie - Analysten hatten an dieser Stelle nur mit einem Minus von 16 US-Cent je Aktie gerechnet.

Die Solarsparte rund um SunEdison konnte im jüngsten Quartal Solarenergiesysteme im Volumen von 49-Megawatt verkaufen. Gleichzeitig beendete das Unternehmen das Quartal mit einer Auftrags-Pipeline von 147-Megawatt. Im Dezember 2011 hatte MEMC eine größere Restrukturierung eingeleitet, Fabriken geschlossen und mehr als 1.300 Mitarbeiter entlassen. Zudem wurden umfangreiche Wertberichtungen vorgenommen. Die Restrukturierung befindet sich weitgehend im Plan und dürfte noch in diesem Jahr abgeschlossen werden, heißt es aus dem Unternehmen. (ami)

MEMC Eelctronic shares fall on weak results, outlook

(Reuters) - Shares of silicon wafer maker MEMC Electronic Materials Inc (WFR.N) fell 10 percent to their lowest in more than five years after the company posted a bigger-than-expected quarterly loss weak demand for its solar products.

At least four brokerages -- UBS, Jefferies, Citigroup and RBC -- cut their price targets on the stock on concerns that the company remains challenged by continued pricing pressure.

MEMC also gave a weak full-year outlook for semiconductor revenue.

Solar panel prices have kept marching lower this year, extending steep declines seen in 2011, erasing profits for major manufacturers such as China's Suntech Power Holdings (STP.N), Yingli Green Energy Holding (YGE.N), Trina Solar Ltd (TSL.N) and U.S.-based First Solar (FSLR.O).

St Peters, Missouri-based MEMC's shares fell 10 percent to $2.92 in morning trade on Thursday on the New York Stock Exchange.

(Reporting by Durba Ghosh in Bangalore; Editing by Gopakumar Warrier)

hat's mir etwas die Sprache verschlagen.

Aktuell 2,26. (!!!) Nachkaufen!

Tage anders disponiert.

Wiedereinstieg zu 1,66 USD Stopp bei 1,49. 4800 Stk.

U.S. Solar Tariffs On Chinese Cells May Boost Prices    17-May-12 10:28 pm    

The U.S. yesterday imposed tariffs of as much as 250 percent on Chinese-made solar cells to aid domestic manufacturers beset by foreign competition, though critics said the decision may end up raising prices and hurting the U.S. renewable energy industry.
The U.S. Commerce Department ruled that Chinese manufacturers sold cells in the U.S. at prices below the cost of production and announced preliminary antidumping duties ranging from 31 percent to 250 percent, depending on the manufacturer.

The decision is meant to provide a boost to the U.S. solar manufacturing industry, where four companies filed for bankruptcy in the past year. The tariffs will probably inflame trade tensions and drive up prices for solar projects in the U.S., according to Shyam Mehta, an analyst with GTM Research in Boston. The duties may prompt Chinese companies to shift production to other countries to evade the duties.
“China-based manufacturers would certainly have to raise U.S. prices to turn a profit,” Mehta said in a statement. “This is likely to lead to module price increases in the U.S., which would serve to dampen demand and installation growth.”

The Commerce Department sided with companies including the U.S. unit of SolarWorld AG (SWV), which had argued that Chinese companies benefit from government subsidies, allowing them to sell solar products below cost.

www.bloomberg.com/news/2012-05-17...

Moodys SLG-4 rating is a Joke    19-May-12 03:11 pm    

Yes Sun Edision uses all borrowed money for it's projects but they get 20 year power agreements from Utilities before they do deals. Then they have an option to sell to investors and pay back the loans. They have a 3 gigawatt pipeline. That's about 9 billion dollars worth of projects. I believe their debts are 2 billion dollars. Why would anyone loan them money with an SLG-4 rating as just happened? Cause the rating is a joke. They will either have an income stream from the solar project or be able to sell the project. The problem they had was poly dropping from $400 to $70 to $20 a pound and they had to shut inefficient plants. They are now able to produce or buy panels for .70-1.00 a watt. With average installation costs around 2.70 a watt I see they can make money on the deal. So actually the more they can borrow the better the will do. Plus the semi conductor business has bottomed out. As said in the conference call their cash position will improve. SO if solar panel prices go down solar will be more competitive which will enhance Sun Edison's position. Now Sun Edison can buy from the lowest source producer as they grow, now they have restructured and still have internal production to benefit when prices stabilize and go up. With an oversupply of panels I see Sun Edision as being in the drivers seat.