Latest news for TDK (OTC:TTDKF) Stock

Founded in 1935, TDK has its origin in magnetic materials, being the first company to commercialize ferrite in the world, and it used to be known as one of the major cassette-tape manufacturers. TDK is now the only external supplier for magnetic recording heads for hard disk drives, and the company intends to expand its magnetic sensor business for handsets and automobiles by leveraging its expertise. It is also one of the global top suppliers of passive components for autos and polymer rechargeable batteries for smartphones. The company acquired InvenSense in 2017, making it one of the largest MEMS sensor companies in the world.

Analyst Color

Long Ideas

Short Ideas

Emerging Markets

Eurozone

Previews

Reiteration

Markets

Analyst Ratings

Tech

Trading Ideas

AACAF

AAPL

FXCOF

SSNLF

TTDKF

TTDKY

Citi Cuts 2017 Smartphone Forecast By 1%

News

Events

Global

BRDCF

BRDCY

Goldman: Japanese Earthquake&#39;s Impact On Honda, Kyocera And Others

TDK Corp

Citi analysts, led by Dennis Chan, cut 2017 smartphone shipment forecast by 1 percent, claiming demand is "relatively stable." As a result, Citi estimated 7.6 percent global smartphone unit growth in 2016 and 7.0 percent in 2017 compared to previous estimates of 7.7 percent and 7.6 percent respectively.
Much of the cut was due to Central Europe/Middle East/Africa shipments, which reported 9 percent below the firm's previous forecast. Due to the miss, Citi analysts revised down Middle East Africa forecasts.
Despite weaker-than-expected Central European smartphone shipments, down 13 percent from last quarter, Chan increased his forecasts on Eastern Europe as "Russia is seeing a recovery on currency stabilization."
<bzrelatedlink>Related Link: <a href="http://www.benzinga.com/analyst-ratings/analyst-color/16/05/8048395/citi-6-smartphone-stocks-to-buy-4-to-sell">Citi: 6 Smartphone Stocks To Buy, 4 To Sell</a></bzrelatedlink>
<h3>Declining Sale Prices</h3>
Notably, Chan expected "global smartphone average sale price to decline at a 5 percent CAGR (2015&ndash;2017E)," which is unchanged from prior estimates. Average sale price is expected to drop from $300/unit to $254/unit in 2017 for a market size of $422 billion from $390 billion in 2014.
<h3>A Few Names</h3>
The analysts highlighted the following names in the space (among others):
<ul><li>Apple Inc. (NASDAQ: <a class="ticker" href="/stock/aapl#NASDAQ">AAPL</a>): Buy
<li>TDK Corp (ADR) (OTC: <a class="ticker" href="/stock/ttdky#OTC">TTDKY</a>) (TTDKF): Sell
<li>SAMSUNG ELECTRONIC KRW5000 (OTC: <a class="ticker" href="/stock/ssnlf#OTC">SSNLF</a>): Buy
<li>FOXCONN TECH CO TWD10 (OTC: <a class="ticker" href="/stock/fxcof#OTC">FXCOF</a>): Sell

A magnitude 7 earthquake struck Kumamoto Prefecture in Japan last week, and Wall Street analysts are still trying to determine if the disaster will disrupt business among the local companies. Honda Motor Co Ltd (ADR) (NYSE: <a class="ticker" href="/stock/hmc#NYSE">HMC</a>), Bridgestone Corp (ADR) (OTC: <a class="ticker" href="/stock/brdcy#OTC">BRDCY</a>) (OTC: <a class="ticker" href="/stock/brdcf#OTC">BRDCF</a>), Kyocera Corp (ADR) (NYSE: <a class="ticker" href="/stock/kyo#NYSE">KYO</a>) and TDK Corp (ADR) (OTC: <a class="ticker" href="/stock/ttdky#OTC">TTDKY</a>) (OTC: <a class="ticker" href="/stock/ttdkf#OTC">TTDKF</a>) all have exposure to the region.
&ldquo;We see a need to confirm whether the quake has generated production bottlenecks, particularly at a key Honda-affiliated supplier (FCC) and in technology-related components,&rdquo; Goldman Sachs analyst Kota Yuzawa said immediately following news of the earthquake.
<bzrelatedlink>Related Link: <a href="http://www.benzinga.com/analyst-ratings/analyst-color/16/04/7845351/is-it-time-to-own-israel-in-your-portfolio#ixzz46BWLlO5k">Is It Time To Own Israel In Your Portfolio?</a></bzrelatedlink>
Later that night, analyst Daiki Takayama confirmed that the news was all good for a pair of local companies. Takayama called both Kyocera and TDK and &ldquo;confirmed no impact on the production facilities of these two companies as of this report.&rdquo;
Honda&rsquo;s U.S.-listed ADR fell by 1.2 percent in Friday&rsquo;s session, while Kyocera&rsquo;s ADR traded down only 0.3 percent. Despite record U.S. auto sales, Honda&rsquo;s stock is now down 13.7 percent in 2016.
Goldman remains optimistic, however, and maintains a Buy rating on Honda. The firm has a Neutral rating on Kyocera.
The iShares MSCI Japan ETF (NYSE: <a class="ticker" href="/stock/ewj#NYSE">EWJ</a>) was down 0.93 percent in Friday&rsquo;s session and is now down 3.0 percent in 2016.
Disclosure: The author holds no position in the stocks mentioned.

Goldman: Japanese Earthquake's Impact On Honda, Kyocera And Others

Rumors

Management

TDK CEO Says Expects More Orders in 2016 from Major N. American Customer, Said to be Apple -Reuters

Comments

TDK

News

Latest news for TDK (OTC:TTDKF) Stock

Tuesday, May 31, 2016

Monday, April 18, 2016

Wednesday, December 02, 2015

Popular Channels

Tools & Features

Partners & Contributors

About Benzinga