Streetbeat News

RNECF

Renesas Electronics Corporation

https://www.renesas.com/jp/ja/

CEO

Hidetoshi Shibata

Industry

Semiconductor and Related Device Manufacturing

Open

13.08

Mkt cap

23B

Volume

1.4K

High

13.08

P/E Ratio

13.63

52-wk high

21.24

Low

13.08

Div yield

0.01

52-wk low

10.43

JPMorgan's 52nd annual Global Technology, Media, and Communications Conference highlighted an optimistic outlook for the semiconductor industry, driven by cyclical improvements and AI demand. Companies like AMD, Micron, and Arm are expected to benefit from this upcycle, with strong demand for AI infrastructure and memory products.

Portfolio Pulse from Surbhi Jain

May 23, 2024 | 4:09 pm

Transphorm Inc (NASDAQ:TGAN) shares surged approximately 30% following the announcement of its acquisition by Renesas Electronics Corp (OTC:RNECF) for about $339 million. The acquisition price of $5.10 per share represents a significant premium over TGAN's recent trading prices. TGAN's board has approved the deal, and major shareholder KKR Phorm Investors L.P. has agreed to vote in favor. The deal is expected to close in the second half of 2024, pending shareholder and regulatory approvals.

Portfolio Pulse from Lekha Gupta

January 11, 2024 | 12:11 pm

Bank of America has identified five global stocks with significant growth potential in the field of end-device AI. The bank forecasts a 96% compounded annual growth rate for foundries and a 105% growth rate for chipmakers from 2023-2025, reaching over $14 billion in revenue. The stocks identified are Qualcomm Inc., MediaTek Inc., Nordic Semiconductor, SK Hynix Inc., and Renesas Electronics Corporation.

Portfolio Pulse from Benzinga Neuro

October 11, 2023 | 7:42 am

Renesas Electronics plans to acquire Sequans Communications for approximately $249 million, including net debt. The transaction, which values Sequans at $3.03 per ADS, is expected to close by Q1 2024, subject to regulatory approvals and other conditions.

Portfolio Pulse from Benzinga Newsdesk

August 07, 2023 | 7:24 am

The article discusses the current positioning of the semiconductor sector, highlighting the VanEck Semiconductor ETF (SMH). It also mentions the impact of China's restrictions on the export of critical metals like gallium and germanium, which are essential for semiconductor, electric vehicle, solar, defense, and automotive applications. This could negatively affect US semiconductor companies like Skyworks Solutions (SWKS), Qorvo (QRVO), and Wolfspeed (WOLF). The article also mentions a $2B deposit from Renesas Electronics Corp (RNECF) to Wolfspeed for a 10-year silicon carbide supply agreement. Furthermore, the US plans to restrict cloud companies from providing certain infrastructure to Chinese companies, which could negatively impact Microsoft (MSFT), Amazon (AMZN), and Nvidia (NVDA).

Portfolio Pulse from The Arora Report

July 05, 2023 | 2:58 pm

Wolfspeed Inc's shares are trading higher by around 15% after it disclosed a 10-year silicon carbide wafer supply deal with Renesas Electronics Corporation. The deal includes a $2 billion deposit by Renesas and will support the adoption of silicon carbide across automotive, industrial, and energy markets. The deposit is expected to aid Wolfspeed's ongoing capacity construction projects, such as creating the world's largest silicon carbide materials factory in North Carolina.

Portfolio Pulse from Lekha Gupta

July 05, 2023 | 10:56 am

Renesas has signed a 10-year silicon carbide wafer supply agreement with Wolfspeed, backed by a $2 billion deposit from Renesas. The supply of high-quality silicon carbide wafers will enable Renesas to scale production of silicon carbide power semiconductors starting in 2025. The deposit will support Wolfspeed's ongoing capacity construction projects.

Portfolio Pulse from Benzinga Newsdesk

July 05, 2023 | 9:02 am

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