SIRF - Sector: Technology --- Industry: Communications Equipment

[setravis]

 SiRF Shares Soar on Analyst Upgrade
AP (Fri, Oct 14)  
The investment bank upped its rating to "Buy" from "Market Perform" and set a $32 price target based on a recent pullback.
Let's see what it has to give. ..............Nice Chart!
Support @ $26.57...24.91...23.23
Resistance @ $28.66...30.59...32.45
MACD, Stochastic have turned north....Stochastic is Bullish

Technicals
Gap Up
Percentage Gainer

Last Price Quote is:
above 13-day EMA
above 50-day EMA
RS Rating: 97  

Fundamentals
Analyst Upgrade to Buy
Earnings Expected on Oct 25

Key Data:
Market Cap (M): $1,356.59  
P/E Ratio: 51.97  
PEG Ratio: 1.7476  
Next Earnings: 10/25/2005
Last Analyst Rating: Buy

[setravis]

Profile Get Profile for: 


SiRF Technology Holdings Inc.
148 E Brokaw Road
San Jose, CA 95112
Phone: 408-467-0410
Fax: 408-467-0420
Web Site: http://www.sirf.com

DETAILS   
Index Membership: N/A
Sector: Technology
Industry: Scientific & Technical Instruments
Full Time Employees: 202


BUSINESS SUMMARY   
SiRF Technology Holdings, Inc., through its subsidiary, engages in the development and marketing of global positioning system (GPS) semiconductor solutions that provide location awareness capabilities in high-volume mobile consumer and commercial applications. It provides a range of GPS chip set products, including SiRFstarIIe product line, SiRFstarIIe/LP product line, and SiRFstarIIt product line to track signals in various environments. SiRF Technology Holdings' GPS chip set product lines consists of two integrated circuits, a radio frequency integrated circuit and a digital signal processing circuit, and standard embedded GPS software. The company also offers software products, such as SiRFLoc for wireless devices that provide location information for multimode GPS; SiRFXTrac to provide high-sensitivity satellite tracking in autonomous GPS applications that cannot use assistance from a wireless network; SiRFDRive for automotive applications; and SiRFNav for automotive navigation systems that shares resources with the host processor. In addition, SiRF Technology Holdings provides evaluation kits that consist of a GPS module, as well as software, enabling its customers to evaluate the performance of its products for their specific environment and application; and system development kits to incorporate its GPS technology into its customer's products. Further, the company offer utility software to its customers to assist them in high-volume manufacturing and testing. SiRF Technology Holdings markets and sells its products through a combination of direct sales, independent sales representatives, and distributors in wireless handheld, automotive, portable computing devices, and dedicated or embedded consumer and commercial devices platforms. It also sells its products to value added manufacturers, which incorporate its chip sets into modules. The company was founded by Kanwar Chadha in 1995 and is headquartered in San Jose, California.

[setravis]

14-Oct-05 CE Unterberg Towbin Upgrade from Market Perform to Buy .


AP
SiRF Shares Soar on Analyst Upgrade
Friday October 14, 3:47 pm ET 
SiRF Technology Shares Jump More Than 10 Percent on CE Unterberg Towbin Upgrade


NEW YORK (AP) -- Shares of SiRF Technology Holdings Inc., a maker of global positioning system applications, jumped 10.4 percent Friday following a ratings upgrade from CE Unterberg Towbin.
The shares traded $2.49 higher, to $27.79 in late session trading on the Nasdaq.

The investment bank upped its rating to "Buy" from "Market Perform" and set a $32 price target based on a recent pullback.

CE Unterberg analyst Rick Faust wrote in the note he thinks SiRF's quarterly revenue will come in above the high end of the company's $40 million to $42 million estimate, with a "commensurate upside" in earnings per share.

Faust predicted a 15 cents per share profit on $42 million revenue for the third quarter. His fourth-quarter forecast calls for a 17 cents per share profit on $46 million in sales. That matches the consensus estimates from analysts polled by Thomson Financial.

Faust also said initial indications show inventories are in "solid shape" entering the seasonally strong fourth quarter.

[la-onda]

1)
4 sides Jeffreies research:
http://www.knobias.com/research.pdf?id=3084
2)
SiRF Technology Schedules Fourth Quarter 2005 Earnings Conference Call
Tuesday , January 10, 2006 16:04 ET
SAN JOSE, Calif., Jan 10, 2006 /PRNewswire-FirstCall via COMTEX/ -- SiRF Technology, Inc. (Nasdaq: SIRF), has scheduled its fourth quarter 2005 financial results conference call for Wednesday, February 1, 2006 at approximately 4:30 PM Eastern time/1:30 PM Pacific time. SiRF will release its fourth quarter 2005 financial results after the market closes on February 1st, 2006. This event is available through the SiRF Technology web site at www.sirf.com by clicking on the "Investor Relations" link. Listeners should go to the website at least ten minutes before the event to download and install any necessary audio software. For those unable to attend the live broadcast, an archived version of the webcast will be available for twelve months. The call can also be heard by dialing 800-867-4593 (domestic) or 785-832-1508 (international) and entering the conference id: SIRF. A telephonic replay will also be available approximately 2 hours following the earnings call and will be available for one week. The telephone playback of the conference call can be accessed by dialing 800-839-1320.

3)
Slides 13-15 from Lehmann Brothers Conference:
Revenue trend:
http://customer.talkpoint.com/LEHM002/120705a_cs/pdf/SiRFTech.pdf


cheers
Oliver

[la-onda]

update 

1)
SiRF Technology Holdings "speculative buy," target price raised
Friday, October 20, 2006 10:30:32 AM ET
Canaccord Adams
NEW YORK, October 20 (newratings.com) - Analyst Jeff Rath of Canaccord Adams maintains his "speculative buy" rating on SiRF Technology Holdings (SIRF.NAS). The target price has been raised from $29 to $32.50.
In a research note published this morning, the analyst mentions that the company has reported robust revenues for 3Q06, ahead of the estimates. The analyst believes that SiRF Technology Holdings is extremely well positioned in PNAV and the upcoming wireless product cycle.

2)
SiRF Technology Holdings upgraded to "buy"
Friday, October 20, 2006 3:30:29 PM ET
Oppenheimer
NEW YORK, October 20 (newratings.com) - Analysts at Oppenheimer & Co upgrade SiRF Technology Holdings Inc (SIRF.NAS) from "neutral" to "buy." The target price is set to $29.

3)
Chart

[la-onda]

analysts & chart update 

a)
SiRF Technology Holdings initiated with "outperform"
Thursday, January 04, 2007 9:42:12 AM ET
RBC Capital Markets
NEW YORK, January 4 (newratings.com) - Analysts at RBC Capital Markets initiate coverage of SiRF Technology Holdings Inc (SIRF.NAS) with an "outperform" rating.

b)
SiRF Technology Holdings initiated with "outperform"

Friday, January 05, 2007 1:58:20 AM ET
RBC Capital Markets
NEW YORK, January 5 (newratings.com) - Analyst Mahesh Sanganeria of RBC Capital Markets initiates coverage of SiRF Technology Holdings Inc (SIRF.NAS) with an "outperform" rating. The target price is set to $34.
In a research note published yesterday, the analyst mentions that the company is expected to witness slow market share erosion on account of its technical leadership. SiRF Technology Holdings' broad product portfolio is expected to result in stable or improving margins, which in turn would address pricing pressures, the analyst says. The company is expected to witness significant earnings and revenue growth going forward, RBC Capital Markets adds.

c)
SiRF Technology initiated with "buy"
Friday, January 05, 2007 11:36:25 AM ET
UBS
NEW YORK, January 5 (newratings.com) - Analysts at UBS initiate coverage of SiRF Technology Inc (SIRF.NAS) with a "buy" rating.
The target price is set to $33.

chart:

[snowcat]

Let me explain clearly the fundamental value of this stock.

Chips for global positioning.  Big Deal right?

New cell phones will be required to have this chip.  Let's say someone has a heart attack while hiking in the mountains, they can dial their cell phone but not say where they are.  The gps feature in the phone will allow the police to "trace" the call and rescue the person.  Dig?

This is the leader in the technology and it is likely they will get much of the business.  This should be a good bet and one to own.  The chart is ripe for hike up the mountain!

[la-onda]

SiRF Shares Catch a Wake

By TSC Staff
10/20/2006 11:46 AM EDT
Shares of SiRF Technology (SIRF - commentary - Cramer's Take - Rating) were trading higher Friday, a day after the GPS software company posted a drop off in earnings. The San Jose, Calif.-based company reported third-quarter results after the market close Thursday. Shares opened higher Friday morning and were up another $2.37, or 10.5%, at $24.92 on better than double volume in recent trading Friday. Net revenue in the third quarter was $63.7 million, up from $48.3 million in the third quarter of 2005. Gross margin was 55.6 percent, the same as it was in the prior-year quarter. The company reported net income of $2.6 million, or 5 cents a share, down from the $14.3 million, or 26 cents a share, it reported in the prior-year period. Net income excluding expenses was $12.2 million, or 22 cents a share, as compared to non-GAAP net income of $13.5 million, or 25 cents a share, in the third quarter of 2005.
Analysts were expecting earnings of 22 cents a share on revenue of $63.1 million. SiRF said third quarter net income was negatively affected in part by increased employee stock compensation expense associated with company acquisitions.

"I am very pleased with our performance in Q3. We have once again reported record revenues, and record shipment volumes and strong operating profit. Order backlog for Q4 is strong and some customers are requesting early delivery of orders," said Dr. Michael Canning, President and CEO.

3rd Quarter Transcript:
http://investor.sirf.com/downloads/SiRFEarnings%20Call%20transcript%203rd%20Qtr%2006.pdf

[la-onda]

on fire 

Wireless outlook gives lift to Sirf Tech shares
By Rex Crum, MarketWatch
Last Update: 4:55 PM ET Jan 31, 2007

SAN FRANCISCO (MarketWatch) -- Thanks to a financial outlook that anticipates growing consumer demand for more wireless devices that offer global positions system capabilities, Sirf Technology Holdings Ltd. found itself in the tech-sector spotlight Wednesday as its shares surged as much as 25% in afternoon trading.
SIRF on Tuesday said it believes it will report a first-quarter profit of between 20 cents and 23 cents a share, with revenue in a range of $65 million to $68 million. Analysts surveyed by Thomson Financial had previously forecast Sirf to earn 20 cents a share on $65 million in revenue.
That outlook sent Sirf's shares up $5.62, to $29.50 amid investor and analyst beliefs that the tiny chip company is set for big gains in new markets beyond its traditional GPS devices that are either built into, or sold separately for use in automobiles.
Sirf sells about 60% of its products into the automotive market, and claims about 20% of its revenue from consumer products and slightly less than 20% from wireless devices. While revenue from automobile makers is still Sirf's cash cow, Chief Executive Michael Canning on Tuesday made no mistake about the role wireless sales are going to play in the company's growth prospects through the rest of the year.
During the fourth quarter of 2006, Sirf reported a profit of $9.1 million, or 16 cents a share, on revenue of $74.2 million, compared to earnings of $10.2 million, or 19 cents a share, on $54.3 million in the year-ago period. The drop off in earnings was attributed to expenses for stock-option accounting.
Speaking on a conference call to discuss Sirf's results, Canning said that new customers and developments in the wireless handset industry, "[are] giving us further confidence in the ramp up of this market." Canning highlighted wireless carriers such as T-Mobile, AT&T Inc.'s Cingular Wireless (T) and European wireless company Orange that launched products in late 2006 that use Sirf's GPS technology as examples of the ability of the market to benefit Sirf.
Sirf said that during the fourth quarter, wireless revenue grew 36% from a year ago, leading Tayyib Shah, an analyst with Longbow Research, to say that Sirf's "handset opportunity is materializing." In a research note, Shah said that new wireless deals and the company's forecast, "indicate that it can easily meet out new target of 19 mllion handset GPS unit shipments in 2007."

[setravis]

la-onda, Thanks for the update....

Expect SiRF to enjoy another leg up in 2007, when cellular operators introduce location-based services. SiRF will supply chips for the BlackBerry as well as phones from Motorola (MOT).
Earnings will come as SiRF adds new navigation device customers like Nokia (NOK) and from the new wireless phone markets.
"The wireless opportunity is significant."

52wk Range: 18.20 - 42.50
Volume: 15,940,247
Avg Vol (3m): 2,457,420

Technicals
Record Volume...............
Most Actives
Gap Up
Percentage Gainer
Price Gainer

Last Price Quote is:
18.25%above 13-day MA
12.08%above 50-day MA
RS Rating: 86 

Fundamentals
Key Data:
Market Cap (M): $1,240.82 
P/E Ratio: 86.31 
PEG Ratio: 1.81786 
Next Earnings: 02/07/2007
Last Analyst Rating: Neutral

[la-onda]

another upgrade
SiRF Technology Holdings "buy," target price raised

Thursday, February 01, 2007 3:11:16 AM ET
Deutsche Securities

NEW YORK, February 1 (newratings.com) - In a research note published yesterday, analysts at Deutsche Bank Securities reiterate their "buy" rating on SiRF Technology Holdings Inc (SIRF.NAS).
The target price has been raised from $33 to $35.

[la-onda]

SIRF recently reported a strong quarter with excellent guidance and saw its stock shoot up 25%. Over the past 90 days, this year's earnings estimates have risen 12 cents to 70 cents per share. Next year's numbers have jumped an even more impressive 31 cents to 92 cents per share. The company has ample growth opportunities in the automative market which should keep growth strong for the foreseeable future.

SIRF Full Analysis

SiRF Technology Holdings, Inc. (SIRF) is the holding company of SiRF Technology, Inc., which is a fabless original equipment manufacturer (OEM) of global positioning system (GPS) semiconductor chipsets, semiconductor-based modules and associated software. Strategically, SiRF's product line provides GPS capability to high-volume consumer and commercial systems.

SiRF's products provide GPS location awareness technology to other OEMs that embed the capability into the four targeted platforms: wireless handheld devices, mobile computing devices, other mobile consumer applications and automotive electronic systems. SiRF's ICs are found in wireless handsets, personal digital assistants (PDAs), notebook personal computers (PCs), digital cameras, watches, automotive navigation and automotive telematics systems, and automated toll roads.

The communications market appears to hold the most significant near-term growth potential. The company already supplies GPS chips and IP to both Nextel (for its Integrated Digital Enhanced Network phones) and Motorola (for its 3G handsets). It was announced that eight different manufacturers have designed-in the next-generation SiRFStar III product within wireless handsets set to ramp-up production in the second half of 2005.

In the consumer market, there are multiple near-term growth prospects. Currently, the SiRFStar II is contained within Research in Motion's BlackBerry 7520, which is used in conjunction with an integrated Nextel service. A European manufacturer has also designed-in the chipset into a PDA.

SIRF recently reported a strong quarter with excellent guidance and saw its stock shoot up 25%. Over the past 90 days, this year's earnings estimates have risen 12 cents to 70 cents per share. Next year's numbers have jumped an even more impressive 31 cents to 92 cents per share. The company has ample growth opportunities in the automative market which should keep growth strong for the foreseeable future.

http://www.zacks.com/rank/commentary.php?id=4121&type_id=11

[la-onda]

NEW RECOMMENDATION: SIRF TECHNOLOGY

Before we get into my final new recommendation, I have just one question for all the WaveRiders out there: Do you know where you're going?

There are a lot more people who can say "yes" to that question thanks to the spread of personal navigational devices (PNDs), a not-too-fancy term for the rapidly growing GPS market.

GPS is the acronym for "global positioning system" -- a system of at least 24 medium-orbit satellites orbiting the earth (there are currently 31 circling the globe today) that transmit signals that allow GPS receivers to calculate location, speed, direction and time.

These functions go beyond the "telematics" services like OnStar -- which is pretty slick -- because there is so much more potential when you can untether it from your ride.

Just imagine walking around the Big Apple, opening your smartphone and being able to locate your "posse" on a map of the city. Then suppose you could click on the map to get everyone on a conference call to make plans for the evening?

Or, what if you could be automatically messaged and offered a coupon for a 25% discount at a restaurant or store because you're registered as a loyal customer and your GPS-enabled devices shows you are in the area.

So this technology -- crammed into a box the size of a couple of CD cases -- can go much further than just helping you find precise directions to your destination, whether traveling from your home to visit friends or to the hot, new restaurant in town you want to try.

Even though you have companies like Google (GOOG) working to use cell phone tower signals to pinpoint locations, they will have trouble rivaling the accuracy of GPS, which can pinpoint a location to within 3 meters or about 10 feet. Given the ability of these devices to eliminate maps and a good deal of the uncertainty and stress that come with travel in unfamiliar areas, they are not only time savers, but marriage and relationship savers, too.

Once upon a time, GPS technology was limited to military uses, but the opening of GPS signals to consumers was initiated in the 1980s and uses expanded from surveyors and scientific applications to use in portable units and automobiles.

And that's where this technology begins to ride the S-curve of growth to mass adoption as "location-based services" -- where GPS functions are integrated into devices like cell phones and cars via real-world applications -- become a part of our daily lives. The opportunity here is massive because navigation systems are in less than 10% of cars on the road, and wireless handset makers are just beginning to implement the technology in their products. (Another signal this market is hot came in the form of Nokia's (NOK) $8.1-billion offer for digital mapmaker Navteq.)

Location-based services are a drop in the bucket now, but according to IDC, the U.S. market for these applications will grow to $3.2 billion by 2010. This is the kind of wave we like to ride at ChangeWave Investing, and I want to recommend the little chip company that put the dominant GPS players like Garmin (GRMN) and TomTom on the map.

SiRF Technology Holdings (SIRF) is the company and you have to like its credentials, especially when it has a 75% share of the GPS chip market.

SIRF is the best way to ride the Personal Navigation Wave as GPS-based services come to more and more of our favorite consumer electronics -- especially our cell phones.


SIRF'S UP, CATCH THE WAVE

In a season when there are few must-have items in the consumer electronics universe, GPS units stand out.

About 28% of the early adopters in our ChangeWave Alliance own GPS units right now, and according to two surveys we did this fall on consumer and corporate demand for GPS units and services, demand is not about to wane.

As a matter of fact, our Alliance findings point to a big jump in consumer demand -- especially during this holiday season. In the next 90 days, 11% of our Alliance members said that they would be buying a portable GPS device, a number that is double the findings we saw just one month ago.

This data is in line with other research we've seen on GPS, and there's more to this than just the mobile phone play, which is not too shabby at an expected compound annual growth rate of about 40% through 2011. The opportunity in the mobile personal navigation market is estimated to jump from 25 billion units worth $7.5 billion this year to $67 billion in 2010, according to CIBC World Markets analyst Yair Reiner.

So why this play, and why now? Well, all the services and functionality that will help you find the information you need is spreading from the select few to the masses.

GPS personal navigation services are spreading from high-end devices and cars and headed to a smartphone, laptop, car or truck near you. And while some of the current generation devices offer these functions, they will be must-haves for the next wave of devices in the BlackBerry, iPhone and Treo lines not just in the United States, but around the world.

SIRF had a tremendous run-up earlier this year, but a pull back of around 26% from its February high of just over $34, is giving us an opportunity to get in at a better price. SIRF is trading around 20-times estimated 2008 earnings and sales growth forecasts are cautiously optimistic at 30% for 2007, and 37% for 2008. Obviously, I expect them to do better than that.

We're getting a great opportunity to grab one of the acknowledged leaders in a rapidly growing space at a discount. What more could you want? (Just wait until the sales figures come in for the holidays to see how fast this one moves.)

Buy SiRF Technology Holdings (SIRF) for your Emerging Game-Over Dominator portfolio up to $27.50 with a target of $60. The Strong Buy Under price is $25 and the Accumulate price is $30.

[bjc]

la-onda

applaud, terrific pick.  Combination of value and growth is awesome!  Once these puppies are in all cell phones they will be making SO much money..

Forward PE is under 20!  This growth is pretty good for a proven stock to be trading at such a low multiple given growth.  I'm a buyer soon.

[bjc]

I'm glad SIRF didn't run away from me today.  I violated the damn trading rules so I need to wait for sufficient funds for 90 days. 

Anyway, I love this story...

GPS is going to be in EVERYTHING soon.  Every iPhone, every Blackberry, whatever the next hot shit is.  la-onda has been onto this for a while, and I think everyone else is finally starting to catch on.  This stock is just way too cheap based on its huge growth prospects, in my opinion!

The stock looks awesome technically resting on the golden cross and with a bullish MACD cross ready to occur. 


Edit:  adding some charts and stuff.  Look at how the long term trend has been down while the fundamental picture has really shaped up.  I don't think this will be the case for long.  I think SIRF can be a 100-200% gainer in the next year or two, personally.  They are going to have some blowout quarters once their chips are in every top tier phone.  We all know how well the iPhone, Blackberry, etc are selling.  This will not stop.  The brands on top may change, but people will continue to go crazy for these cool gadgets.   And it's nice to know GPS is about to be a part of this picture for years to come.  I think we'll see some smart GRMN money shift to SIRF.

Pretty impressive EPS #s and growth for a stock that is only trading at $25 and has such growth prospects...