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Equity Actions

SMCI

Super Micro Computer, Inc. (NASDAQ:SMCI) shares dropped after announcing a $1.5 billion convertible senior notes offering due 2029, with an option for an additional $225 million. The notes have a conversion rate of 0.7455 shares per $1,000, at a price of $1,341.38 per share, a 37.5% premium over the recent closing price. SMCI's stock has surged recently, partly due to AI excitement and social media buzz. The company does not pay dividends but engages in other capital allocation strategies.

Portfolio Pulse from Erica Kollmann

February 23, 2024 | 4:06 pm

RUN

Sunrun Inc (NASDAQ:RUN) shares dropped 4% to $12.26 after announcing a $475 million convertible senior notes offering due 2030, with an option for an additional $75 million. The notes have a 4.00% interest rate and an initial conversion price of $16.29 per share. Sunrun plans to use the proceeds for repurchasing its 2026 notes, capped call transactions, and general corporate purposes. Additionally, Sunrun's past 5-year annualized stock performance is -4.04%, projecting a potential future stock price of $10.11.

Portfolio Pulse from Henry Khederian

February 23, 2024 | 4:02 pm

TGL

Treasure Global Inc (NASDAQ:TGL) announced a 1-for-70 reverse stock split to comply with Nasdaq's $1.00 minimum bid price requirement. The split-adjusted trading starts on February 27, 2024. The move, approved by stockholders and the Board, aims to maintain its Nasdaq listing without altering stockholder equity percentages. Fractional shares will be rounded up, and no action is required from stockholders for the adjustment.

Portfolio Pulse from Benzinga Newsdesk

February 23, 2024 | 4:01 pm

FRT

Analysts have diverse opinions on Federal Realty Investment (NYSE:FRT), with recent evaluations ranging from bullish to bearish. The average 12-month price target has risen to $110.0, a 2.8% increase from the previous $107.00. Actions by analysts include both upgrades and downgrades, reflecting varied perceptions of the company's performance and market position. Federal Realty Investment Trust owns high-quality retail properties in major metropolitan markets, with a portfolio emphasizing areas of significant growth. Despite its strong market position, the company faces challenges in revenue growth, net margin, ROE, and ROA, indicating potential areas for improvement.

Portfolio Pulse from Benzinga Insights

February 23, 2024 | 4:01 pm

JNJ

Johnson & Johnson (NYSE:JNJ) is evaluated against its peers in the Pharmaceuticals industry, showing potential undervaluation based on PE, PB, and PS ratios but underperformance in ROE, EBITDA, gross profit, and revenue growth. The analysis highlights JNJ's financial metrics, market standing, and growth prospects, comparing them with major competitors. JNJ's lower debt-to-equity ratio suggests a stronger financial position, but its performance metrics indicate challenges in profitability and growth.

Portfolio Pulse from Benzinga Insights

February 23, 2024 | 4:00 pm

CIEN

In the last three months, 9 analysts have rated Ciena (NYSE:CIEN) with a majority being bullish. The 12-month price targets show an average of $62.0, up 4.03% from the previous $59.60. Analyst actions include ratings from 'Outperform' to 'Strong Buy' with adjustments in price targets. Ciena's financial performance shows a positive revenue trend with a growth rate of 16.32% as of 31 October, 2023, a net margin of 8.07%, but an ROE below industry averages at 3.15%.

Portfolio Pulse from Benzinga Insights

February 23, 2024 | 4:00 pm

KIM

Analysts have recently updated their evaluations of Kimco Realty (NYSE:KIM), with a mix of bullish and somewhat bullish ratings over the last three months. The average 12-month price target for KIM has been raised to $22.69, reflecting a 4.95% increase from the previous target. Key financial indicators show Kimco Realty's strong market presence but highlight challenges in revenue growth, net margin, ROE, and ROA compared to industry averages.

Portfolio Pulse from Benzinga Insights

February 23, 2024 | 4:00 pm

LLY

Eli Lilly and Co (NYSE:LLY) is evaluated against its competitors in the Pharmaceuticals industry, showing a mixed performance. While its PE, PB, and PS ratios suggest the stock might be overvalued, its high ROE and revenue growth indicate strong profitability and market share gain. However, concerns arise from its lower EBITDA and gross profit, alongside a higher debt-to-equity ratio compared to peers, signaling potential financial risks.

Portfolio Pulse from Benzinga Insights

February 23, 2024 | 4:00 pm

ADBE

LULU

MA

SDS

SH

SMCI

V

Benzinga's Stock Whisper Index highlights Mastercard, Visa, Lululemon Athletica, Super Micro Computer, Adobe, and inverse S&P 500 ETFs (SDS, SH) as stocks and ETFs of interest. Mastercard and Visa face potential challenges from the Capital One-Discover merger. Lululemon's stock is buoyed by a positive rating from Needham. Super Micro benefits from NVIDIA's strong earnings. Adobe faces competition from OpenAI's new tool, Sora. Interest in SDS and SH ETFs rises as investors anticipate a pullback in the S&P 500.

Portfolio Pulse from Chris Katje

February 23, 2024 | 3:46 pm

SMCI

Super Micro Computer announced a private offering of convertible senior notes, leading to a decrease in its share price.

Portfolio Pulse from Benzinga Newsdesk

February 23, 2024 | 3:27 pm