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Electronics News Digest

28 February 2022 News

Overseas

Business

Analog Devices delivered its fourth consecutive quarter of record revenue, carried by momentum across all end markets and geographies. The first quarter of the company’s 2022 fiscal year saw its revenue increase by 72% year-on-year to reach $2,68 billion. For the second quarter, it is forecasting revenue in the range of $2,80 billion (+/-$100 million).

Texas Instruments reported fourth quarter revenue of $4,83 billion, net income of $2,14 billion and earnings per share of $2,27. Revenue increased 19% from the same quarter a year ago, driven by strong demand in industrial and automotive markets. Analog revenue grew 20% and embedded processing grew 6% from the year-ago quarter. The company’s first quarter outlook is for revenue in the range of $4,50 billion to $4,90 billion and earnings per share between $2,01 and $2,29.

Thanks in large part to better than expected sales in what is an ongoing dynamic market, STMicroelectronics accumulated net revenues of $3,56 billion for its fourth financial quarter of 2021 (4Q21), propelling net income to $750 million or $0,82 diluted earnings per share. Q421 net revenues were 9,9% higher year-over-year, with a further increase in profitability: operating margin of 24,9% improved from 20,3% and net income was up 28,9%. For the full year, net revenues increased 24,9% to $12,76 billion and net income was up 80,8% at $2 billion ($2,16 diluted earnings per share).

NXP Semiconductors delivered record full-year revenue of $11,06 billion, an increase of 28% year-on-year, with demand accelerating across all of its focus end-markets throughout the year. In the fourth quarter, revenue was $3,04 billion, an increase of 21% year-on-year. The company reported that it continues to see growing customer demand, outstripping supply, as inventory across all end markets remains very lean.

Announcing its fourth quarter and fiscal year 2021 results, onsemi achieved record fiscal year revenue of $6,74 billion, representing 28,3% year-over-year growth, as well as record quarterly revenue of $1,85 billion. Operating income and free cash flow for the year increased six times faster than revenue, as the company has focused its portfolio on secular megatrends of electric vehicles, ADAS (advanced driver assistance systems), alternative energy and industrial automation.

Silicon Labs reported strong financial results for the fourth quarter, which ended 1 January 2022. Revenue exceeded the top of the guidance range at $209 million, up 13% sequentially and 43% year-on-year. The company expects first quarter revenue to be in the range of $220 to $230 million.

Total annual revenue for Sierra Wireless was $473,2 million in 2021, an increase of 5,5%. The increase is primarily attributable to the growth of IoT connectivity services, despite revenue being negatively impacted by manufacturing capacity constraints in Vietnam as a result of Covid-19 during the third quarter of 2021. Net loss from continuing operations was $88,7 million as compared to $70,2 million in 2020.

Companies

Intel has made a large step toward its ambition of becoming a leading global semiconductor foundry by announcing a definitive agreement to acquire Tower Semiconductor for $5,4 billion. The purchase will see Intel Foundry Services (IFS) inherit Tower’s expertise in specialty technologies such as RF, power, silicon-germanium (SiGe) and industrial sensors, extensive IP and electronic design automation (EDA) partnerships and established foundry footprint.

Industry

The Semiconductor Industry Association (SIA) announced global semiconductor industry sales totalling $555,9 billion in 2021, the highest-ever annual total and an increase of 26,2% compared to the 2020 total of $440,4 billion. The industry shipped a record 1,15 trillion semiconductor units in 2021, as chip companies ramped up production to address high demand amid the global chip shortage. The analog product segment had the highest annual growth rate of 33,1%, reaching $74 billion in 2021 sales. Logic ($154,8 billion in 2021 sales) and memory ($153,8 billion) were the largest semiconductor categories by sales. Sales of micro-ICs – a category that includes microprocessors – increased 15,1% to $80,2 billion in 2021. Sales of all non-memory products combined increased by 24,5% in 2021, while sales of automotive ICs increased 34,3% year-over-year to a record high of $26,4 billion.


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