MEMC Electronic Materials just announced that the patent lawsuit brought against the company by Soitec has been concluded. The rulings were mostly in MEMC’s favor, as Soitec was found to be infringing on MEMC’s ‘812 patent. MEMC was found to be infringing on Soitec’s ‘009 patent, but only in relation to wafers produced for research and development in between 2004-2006.
In a press release, Shaker Sadasivam, EVP of MEMC and President of MEMC Semiconductor … Read the rest
Every quarter for about the past year or more, traders have high expectations and each quarter, MEMC Electronic Materials (WFR) disappoints. They’ve done it again after the bell today. While the company did post non GAAP revenues a bit higher than analyst expectations at $551 million, they missed the EPS consensus estimate of .13/share by posting .10/share.
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“Our third quarter results extended our recent … Read the rest
MEMC Electronic Materials (WFR) subsidiary SunEdison will deploy utility scale solar plants in Texas through a contract with CPS Energy and combined it’s expected to be one of the largest solar facilities in the state. SunEdison will build, own and operate three solar plants totaling 30MW which will help CPS Energy achieve its renewable energy target of 20%. Construction will begin next year. No word on the financials of the deal.
SunEdison, a major subsidiary of MEMC Electronic Materials (WFR) has announced that is has signed a non-binding memorandum of understanding with a local government in southeastern Korea for the establishment of up to 400MW in solar plants on public land and rooftops.
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The government would aid MEMC in securing in locating land and securing the necessary permits. Assuming all goes according to plan, the … Read the rest
A couple more firms have come out with notes on Itron (ITRI) after it was rumored that Siliver Springs Networks will win the BG&E deal, not Itron. Hat tip to Street Insider for the analyst comments.
Wedbush is downgrading Itron from Outperform to Neutral and is also cutting the price target from $85 to $62. “The loss of BG&E to SSN suggests continued headwinds for Itron’s backlog growth, lowers Itron’s general credibility with existing … Read the rest
As I reported last night, MEMC Electronic Materials (WFR) reported disappointing earning results once again sending the stock plummeting today below key resistance around the $10 level. It is currently trading at levels not seen since 2004 and assuming it closes below the $9.51 level today, the next level of support doesn’t come into play until you get closer to $8.
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A few analysts have … Read the rest
MEMC Electronic Materials (WFR) just can’t seem to get it going. Just when you think they are ready to turn the corner, they turn in another disappointing quarter and today was no exception. Despite a few firms coming out with bullish calls on WFR in recent days (Barclays, Gleacher & Kaufman Bros), the company missed on EPS posting results that were .03 lower than what analysts expected with .06. Revenues misses as … Read the rest
Gleacher & Co. reiterated its Buy ratings on Sunpower (SPWRA) and MEMC Electronic Materials (WFR) today. Hat tip to Street Insider for the analyst comments. The firm has a price target of $19 on WFR which is about 75% above current levels and a $21 price target on Sunpower (SPWRA) which is about 50% above current levels.
On WFR: “WFR is scheduled to report its 2Q10 results on Thursday, July 29, 2010, after the market … Read the rest
Kaufman Bros. has upgraded MEMC Electronic Materials (WFR) from Hold to Buy and increased the price target from $14 to $15 which would be a more than 40% move from current levels. Hat tip to Street Insider for the analyst comment.
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“All three end markets, semiconductor wafers, solar materials and SunEdison were stronger than anticipated…Valuation is attractive following an approximately 35% decline in the stock … Read the rest
MEMC Electronic Materials (WFR) SunEdison division announced its plans to produce racking equipment for its Canadian solar projects with Samco Solar, a division of Samco Machinery. The partnership will be a big benefit to Samco Machinery which has been hit hard in a tough economy. It will produce 15 – 18 permanent jobs for the company and many more temporary positions. The retooling of the Samco plant has begun and they are expected to begin … Read the rest