SOURCE: Paragon Financial Limited

Paragon Financial Limited

September 05, 2012 08:20 ET

Global Semiconductor Market to Contract for the First Time in Three Years Due to Poor Economic Conditions

The Paragon Report Provides Stock Research on OmniVision Technologies and TriQuint Semiconductor

NEW YORK, NY--(Marketwire - Sep 5, 2012) - The combined economic slowdowns of the U.S., China, and Europe negatively impacted semiconductor sales in the second quarter. Recent research from IHS iSuppli showed that global chip sales in the second quarter of 2012 declined 3 percent to $77 billion when compared to the second quarter of 2012. The Paragon Report examines investing opportunities in the Semiconductor Industry and provides equity research on OmniVision Technologies, Inc. (NASDAQ: OVTI) and TriQuint Semiconductor (NASDAQ: TQNT).

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As a result of an unfavorable economic environment analysts are predicting the global semiconductor market to decline for the first time in 3 years. IHS iSuppli recently revised their global semiconductor market chip revenue forecast to contract by 0.1 percent. Their previous forecast predicted a growth of less than 3 percent.

"The expected decline in 2012 represents a major event for the global semiconductor market. Throughout all of 2011, even though electronics markets were very weak, IHS never projected revenue to decline for the entire year. However, the disappointing results in the second quarter and weak third-quarter expectations driven by poor economic conditions are expected to cause the semiconductor market to retreat this year," said Dale Ford, senior director at IHS.

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OmniVision Technologies is a leading developer of advanced digital imaging solutions. Its award-winning CMOS imaging technology enables superior image quality in many of today's consumer and commercial applications, including mobile phones and tablets. Revenues for the first quarter of fiscal 2013 were $258.1 million, as compared to $218.5 million in the fourth quarter of fiscal 2012, and $276.1 million in the first quarter of fiscal 2012.

TriQuint products help reduce the cost and increase the performance of connected mobile devices and the networks that deliver critical voice, data and video communications. The company reported revenues for the second quarter of 2012 were $178.0 million, down 22 percent from the second quarter of 2011 and down 18 percent sequentially.

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