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IGT

Five analysts have recently updated their ratings on International Game Technology PLC (NYSE:IGT), with an average 12-month price target of $39.4, down from $43.20. All five analysts have lowered their price targets, with ratings ranging from 'Hold' to 'Positive'. IGT's financials show a revenue growth of 0.47% for the quarter ending September 30, 2023, a net margin of 8.83%, an ROE of 6.45%, an ROA of 0.9%, and a debt-to-equity ratio of 4.07. The company's main revenue comes from its Global Lottery segment, primarily in the United States.

Portfolio Pulse from Benzinga Insights

January 04, 2024 | 5:00 pm

AAPL

FXI

Apple's suppliers, including Foxconn, have invested $16 billion since 2018 to diversify manufacturing away from China due to US/China trade tensions, COVID measures, and power supply issues. TD Cowen's research indicates Apple's revenues were impacted by over $30 billion during the pandemic. Reshoring efforts are aimed at reducing future production disruptions, with investments in India, Mexico, the US, and Vietnam. Apple's operating margins may benefit long-term, despite higher near-term costs. iPhone production remains largely in China, but India is emerging as a significant manufacturing hub. Vietnam is becoming a major hub for Mac and iPad production, potentially meeting 40% of US demand. The reshoring process is expected to take years, with challenges in establishing new plants and organizing supply chains.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 4:19 pm

DIS

ESPN and the NCAA have announced a new eight-year media rights agreement starting September 1, 2024, for exclusive coverage of 40 NCAA championships, including international rights to the Division I men's basketball tournament. The deal includes over 800 hours of NCAA Championships on ESPN linear networks and over 2,300 hours on ESPN linear and digital platforms annually. The agreement aims to increase exposure for student-athletes, particularly women, and is expected to impact revenue distribution for the women's basketball tournament. Endeavor's IMG and WME Sports advised the NCAA in the negotiations. The deal extends ESPN's relationship with the NCAA, which began in 1979, and will utilize ESPN's broad platform portfolio, including ESPN+, which has over 25 million subscribers.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 4:16 pm

SMPL

The Simply Good Foods Company (NASDAQ:SMPL) reported a 2.6% increase in Q1 FY24 sales to $308.68 million, slightly missing analyst estimates. Quest volume growth drove sales, compensating for Atkins' weakness. Gross profit reached $115.1 million, with a 37.3% gross margin. Operating expenses were up 8.2% to $63.3 million, and operating margin stood at 16.8%. Adjusted EBITDA rose 2% to $62 million, while net income fell marginally to $35.6 million. Adjusted EPS of $0.43 beat the $0.42 consensus. The company generated $47.5 million in operating cash flow and ended the quarter with $121.4 million in cash. SMPL reaffirmed its FY24 outlook, expecting net sales to increase at the high end of 4-6% and adjusted EBITDA to grow slightly more than sales. SMPL shares closed down 0.30% at $39.59.

Portfolio Pulse from Shivani Kumaresan

January 04, 2024 | 4:09 pm

MCHP

Microchip Technology Incorporated (NASDAQ:MCHP) is set to receive $162 million in incentives from the U.S. Commerce Department to support the onshoring of its semiconductor supply chain. This investment aims to rebuild America's semiconductor supply chain, enhance security for the defense industrial base, reduce prices, and create over 700 jobs in Colorado and Oregon. The funding will be used to modernize and expand fabrication facilities in these states, nearly tripling the output of semiconductors and reducing reliance on foreign foundries.

Portfolio Pulse from Nabaparna Bhattacharya

January 04, 2024 | 4:09 pm

RVTY

Revvity (NYSE:RVTY) has been evaluated by 7 analysts over the last three months, with a mix of bullish to bearish sentiments. The average 12-month price target is now $112.29, down from $131.33, with a high estimate of $135.00 and a low of $95.00. Analysts from firms like Evercore ISI Group, Wells Fargo, Raymond James, Goldman Sachs, Keybanc, and JP Morgan have adjusted their ratings and price targets, reflecting changes in market conditions and company performance. Revvity operates in diagnostics and discovery/analytical solutions, serving various markets. Financially, the company has a lower market cap compared to industry averages, a negative revenue trend, a high net margin, but lower ROE and ROA than industry benchmarks, and a conservative debt-to-equity ratio.

Portfolio Pulse from Benzinga Insights

January 04, 2024 | 4:01 pm

RYTM

Rhythm Pharmaceuticals (NASDAQ:RYTM) has been the subject of diverse analyst opinions over the past three months, with 7 analysts offering ratings that range from bullish to indifferent. The average 12-month price target for RYTM has increased by 21.7% to $44.86, with a high estimate of $55.00 and a low of $29.00. Analysts from firms including Needham, Morgan Stanley, Wells Fargo, and Goldman Sachs have raised their price targets for RYTM, reflecting a positive outlook on the company's performance. Rhythm Pharmaceuticals is a biopharmaceutical company focused on developing therapies for rare diseases, with setmelanotide (RM 493) as its lead product candidate. The company has shown a significant revenue growth rate of 425.3% as of September 30, 2023, but has a net margin of -196.25% and an ROE of -23.26%, indicating challenges in profitability and equity returns.

Portfolio Pulse from Benzinga Insights

January 04, 2024 | 4:01 pm

ALKT

Alkami Technology (NASDAQ:ALKT) has been analyzed by 5 analysts, showing a shift towards a more positive outlook with an average 12-month price target of $24.00, up from $21.25. Analysts from Barclays, Stephens & Co., JMP Securities, JP Morgan, and Needham have adjusted their ratings and price targets, reflecting changes in market conditions and company performance. Alkami's financials indicate strong revenue growth but below-average profitability and efficiency metrics. The company's low debt-to-equity ratio suggests a healthy balance of financing.

Portfolio Pulse from Benzinga Insights

January 04, 2024 | 4:00 pm

AVNS

Avanos Medical's stock is trading lower following the release of their preliminary Q4 and FY23 financial results, along with a revised preliminary revenue guidance for 2024.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 3:57 pm

AAPL

Apple Arcade kicks off the year with new games including Tamagotchi Adventure Kingdom, Cornsweeper, and Blackjack by MobilityWare+, plus 20+ updates to existing titles. BEAST: Bio Exo Arena Suit Team and Words in Progress are set to launch on February 1. The platform continues to offer a diverse gaming experience with regular content updates and is available as part of Apple One subscription plans.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 3:03 pm