With earnings season now behind, it’s time to focus on the second half of FY 2023.

And while the next few months are likely to be very successful for many companies, this may not be the case for all.

According to a note out of Morgans, its analysts believe that some ASX shares are expecting too much from the half. So much so, it suspects that they could fall short of guidance and is warning investors to be careful.

Which ASX shares could disappoint in the second half?

Morgans has warned that there are six ASX shares in particular that could be destined to disappoint in FY 2023.

These are energy company AGL Energy Limited (ASX: AGL), packaging giant Amcor (ASX: AMC), health and safety products company Ansell Limited (ASX: ANN), baby products retailer Baby Bunting Group Ltd (ASX: BBN), property listings company Domain Holdings Australia Ltd (ASX: DHG), and telco Superloop Ltd (ASX: SLC).

The broker highlights that with their guidance for the full year maintained after a soft first half, they will need a significant improvement in their performance in the second half. This is something that is far from guaranteed in the current environment. It commented:

Notable companies (DHG, AGL, AMC, BBN, ANN, SLC) missed forecasts in February. Still, they maintained their full-year guidance, setting the scene for potential earnings disappointment if operating conditions don’t recover as planned.

Consensus industrial estimates suggest a second half earnings skew (49%:51%) which is curious given the economic backdrop and is at odds with the typical pre-COVID first half skew (56%:44%). More specifically, 49% of companies are expected to be skewed to 2H, well above the 25% in pre-COVID times. So if post-reporting earnings trends hold, small caps could be again vulnerable at the upcoming May ‘confession’ season.

The post Morgans warns that these ASX shares could disappoint in FY23 appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Here are the top 10 ASX 200 shares today
• The AGL share price sank 10% in February. What’s next?
• Don’t be deceived by ASX dividends
• 6 ASX 200 directors buying up their company shares in the past week
• Here are the top 10 ASX 200 shares today

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Baby Bunting Group and Superloop. The Motley Fool Australia has positions in and has recommended Amcor Plc. The Motley Fool Australia has recommended Ansell and Baby Bunting Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/yNwxEk4

The Sonic Healthcare Ltd (ASX: SHL) share price is in the red — and has been for most of today’s trading — after the S&P/ASX 200 Index (ASX: XJO) healthcare share went ex-dividend.

Last month was reporting season, when investors learned how their companies had performed in the period to December 2022.

Some businesses also declared their latest dividends.

Sonic Healthcare was one of the businesses that announced its dividend, with another increase for investors.

Sonic Healthcare shares goes ex-dividend

The board of the ASX 200 share decided to declare an interim dividend of 42 cents per share. That represents an increase of 5% compared to the prior corresponding period.

Sonic Healthcare shares went ex-dividend today, meaning that investors who buy shares today aren’t entitled to that 42 cents dividend per share. This will be paid on 22 March 2023.

Investors who were too late to buy shares will need to wait another six months for the next half-year dividend. However, the business has a “progressive dividend policy”, so the next dividend may also be higher than what was paid in the prior corresponding period of the previous financial year.

How was the ASX 200 share’s dividend funded?

The ASX 200 share reported that in the first six months of the 2023 financial year, its total revenue was $4.08 billion and earnings per share (EPS) was 80.9 cents. Those numbers were up 22% and 52% respectively, compared to the pre-COVID result of the FY20 first half.

Those numbers included its base business revenue of $3.7 billion, which was up 9% year over year. The base business margins were “in line” with pre-pandemic levels. It’s also benefiting from catch-up testing which is now going up after the pandemic and its extensive COVID testing regimes.

The business is pursuing new contracts and potential acquisitions which could help it grow further from here.

Sonic Healthcare share price snapshot

Since the beginning of 2023, the ASX 200 healthcare share has risen around 10%.

The post Owners of this ASX 200 share are soon going to receive a bigger dividend appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• 5 ASX 200 shares trading ex-dividend today
• Megaport share price tumbles 10% on CEO resignation
• Guess which ASX 200 CEO just sold $5 million worth of his company shares?
• Hoping to collect the latest CSL dividend? Here’s how
• 5 things to watch on the ASX 200 on Tuesday

Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Sonic Healthcare. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/ScoFYBN

A number of ASX 200 shares are in the red on Tuesday because they are trading ex-dividend.

When a share trades ex-dividend, it means that the rights to an upcoming dividend are now settled.

In light of this, if you were to buy one of these ASX 200 shares today, the rights to the dividend would stay with the seller and not transfer to you.

As a result, a share price will tend to decline in line with the dividend payment to reflect this. After all, why should a buyer pay for something that they aren’t going to receive?

Which ASX 200 shares are going ex-dividend?

The following five ASX 200 shares have gone ex-dividend on Tuesday:

Lovisa Holdings Ltd (ASX: LOV)

This fast-fashion jewellery retailer’s shares have gone ex-dividend for its fully franked 38 cents per share interim dividend. This will be paid to eligible shareholders next month on 20 April.

Northern Star Resources Ltd (ASX: NST)

Last month, this gold mining giant released its half-year results and declared an 11 cents per share fully franked interim dividend. Eligible shareholders can now look forward to receiving this dividend in their bank accounts towards the end of the month on 29 March.

Qube Holdings Ltd (ASX: QUB)

This logistics solutions company will be paying its shareholders a fully franked interim 3.8 cents per share interim dividend next month on 13 April.

Sonic Healthcare Limited (ASX: SHL)

When this healthcare company released its half-year results last month, it declared a fully franked interim dividend of 42 cents per share. This will be paid to eligible shareholders in a couple of weeks on 22 March.

Viva Energy Group Ltd (ASX: VEA)

Finally, this fuel retailer’s shares have gone ex-dividend today for its 13.3 cents per share fully franked final dividend. This is scheduled to be paid to eligible shareholders later this month on 24 March.

The post 5 ASX 200 shares trading ex-dividend today appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• How I’d aim to replace an entire salary with passive income from ASX dividend shares
• I’m bullish on this sector and 2 ASX shares right now: expert
• 5 things to watch on the ASX 200 on Tuesday
• Leading brokers name 3 ASX shares to buy today
• 2 ASX 200 healthcare shares just upgraded by Citi analysts

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Lovisa. The Motley Fool Australia has recommended Lovisa and Sonic Healthcare. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/R1UVoqI

The Bravura Solutions Ltd (ASX: BVS) share price has returned from its trading halt and crashed deep into the red.

In afternoon trade, the ASX 300 wealth management software solutions company’s shares are down 54% to 39 cents.

Why is this ASX 300 tech share being sold off?

Investors have been hitting the sell button today after the ASX 300 tech share completed a placement and institutional entitlement offer.

According to the release, the company raised a total of $66 million from investors. This comprises $43 million under the institutional entitlement offer and $23 million under the placement.

These funds were raised at $0.40 per new share, which represents a 53% discount to the Bravura share price prior to the halt.

Encouragingly, management notes that the placement and entitlement offer saw strong support from both existing shareholders and new investors. This led to the latter commanding a take up rate of approximately 85%.

Combined with its new debt facilities, management believes it is well-positioned to fund investment in its operational change program, fund negative cashflow and transaction costs, and provide balance sheet flexibility and working capital.

Bravura’s CEO, Libby Roy, commented:

We are very pleased with the success of the Institutional Offer and the strong support shown by both our existing institutional shareholders and the broader investment community. The Board and management team are excited by Bravura’s future and proceeds of the Offer will provide additional balance sheet flexibility to support our restructure.

Bravura will now seek to raise a further $17 million from retail shareholders.

Results update

The ASX 300 tech share also released its half-year results while it was in its trading halt.

These results go some way to explaining why Bravura needed to raise capital today. Here’s a summary:

• Revenue down 11% to $118 million
• Total expenses up 17% to $125 million
• Total non‐cash impairment of $176 million
• Net loss of $190.9 million
• Adjusted net loss of $14.2 million

Roy commented:

The first half was undoubtedly a difficult period with our performance impacted by a number of operational and market‐related challenges. However, after conducting a wide‐ranging strategic review of our business and having taken some tough but necessary decisions, I believe we now have a plan in place that will allow us to better manage and monetise our suite of high‐quality, mission‐critical products and build on our strong customer base. I am confident in the team’s ability to execute on this plan and achieve our targets of delivering an estimated $25‐30m in annualised cost benefits once fully implemented.

The post Why did this ASX 300 tech share just crash 50%? appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Why is ASX 300 tech share Bravura Solutions suspended?

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Bravura Solutions. The Motley Fool Australia has positions in and has recommended Bravura Solutions. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/edScXF2

After fighting back from a poor start, the S&P/ASX 200 Index (ASX: XJO) has slipped back into the red in afternoon trade. The benchmark index is currently down slightly to 7,326.4 points.

Four ASX shares that are falling more than most today are listed below. Here’s why they are dropping:

Brainchip Holdings Ltd (ASX: BRN)

The Brainchip share price is down 7.5% to 55 cents. Investors appear to have been taking profit following a strong gain on Monday in response to the launch of the new Akida platform. The old platform doesn’t appear to have been cutting it for customers, so the company has designed the new one in line with requests. In light of this, if its sales don’t jump in the coming quarters, it could be a very bad sign.

Lynas Rare Earths Ltd (ASX: LYC)

The Lynas share price is down 1.5% to $7.35. Investors have been selling this rare earths producer’s shares in recent sessions amid concerns over comments out of Tesla. The electric vehicle giant has announced plans to shift away from using rare earths in its cars in the near future. The Lynas share price is now down 11% since this time last week.

Megaport Ltd (ASX: MP1)

The Megaport share price is down 14% to $4.95. This has been driven by the surprise resignation of the network services provider’s CEO this morning. Rather ominously, Vincent English will be leaving with immediate effect and without an explanation. A global search is now commencing.

Universal Store Holdings Ltd (ASX: UNI)

The Universal Store share price is down almost 4% to $5.29. This decline is attributable to the retailer’s shares going ex-dividend on Tuesday for its interim dividend. Eligible shareholders can now look forward to receiving Universal Store’s 14 cents per share fully franked dividend later this month on 29 March.

The post Why Brainchip, Lynas, Megaport, and Universal Store shares are dropping today appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Morgans names 3 of the best ASX shares to buy in March
• Megaport share price tumbles 10% on CEO resignation
• Why are ASX 200 tech stocks like Xero having such a stellar start to the week?
• Why Block, BrainChip, Core Lithium, and Life360 shares are racing higher
• Why Fortescue, Lynas, Myer, and New Hope shares are dropping today

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Megaport. The Motley Fool Australia has recommended Megaport. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/NBxiYA5

The S&P/ASX 200 Index (ASX: XJO) has fought back from a poor start and is edging higher. In afternoon trade, the benchmark index is up 0.1% to 7,334.6 points.

Four ASX shares that are climbing more than most today are listed below. Here’s why they are storming higher:

InvoCare Limited (ASX: IVC)

The InvoCare share price is up 35% to $12.11. Investors have been scrambling to buy this funerals company’s shares after it received a takeover approach. InvoCare has received an unsolicited, preliminary, non-binding indicative offer from TPG to acquire 100% of its issued shares for $12.65 cash per share. This will be adjusted for any additional dividends or capital returns made prior to completion of the proposed transaction.

Pentanet Ltd (ASX: 5GG)

The Pentanet share price is up 48% to 24.5 cents. This morning, this cloud gaming provider announced a deal with telco giant Optus Mobile. The initial 12-month agreement will see Pentanet deliver the NVIDIA GeForce NOW cloud gaming service to Optus customers. Management believes this agreement marks a significant milestone towards its goal of commercialising GeForce NOW with the introduction of Pentanet’s first large-scale wholesale partner.

Sayona Mining Ltd (ASX: SYA)

The Sayona Mining share price is up 4% to 24.5 cents. This follows news that the lithium developer has entered into a subscription agreement with PearTree Securities. The agreement sees the issue of 174,459,177 flow-through shares at a price of 31.5 cents per share for aggregate gross proceeds of $54.9 million. This represents a 34% premium to the Sayona Mining share price at Friday’s close.

Weebit Nano Ltd (ASX: WBT)

The Weebit Nano share price is up 5% to $7.43. This morning, this memory technologies company announced the availability of its resistive RAM (ReRAM) IP in SkyWater Technology’s 130nm CMOS process. This essentially means that SkyWater customers can now easily integrate Weebit’s non-volatile memory in their system-on-chip designs.

The post Why InvoCare, Pentanet, Sayona Mining, and Weebit Nano shares are storming higher appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Weebit Nano share price just surged 7% on product commercialisation news
• Guess which ASX share is skyrocketing 70% after securing a deal with Optus
• ASX 200 stock InvoCare rallies 37% on takeover approach
• Sayona Mining share price charges higher following $55m cap raise
• Here are the 10 most shorted ASX shares this week

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Pentanet. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/LsQAShF

The Santos Ltd (ASX: STO) share price is up 2.0% in early afternoon trade, while the S&P/ASX 200 Index (ASX: XJO) remains in the red. 

Shares in the ASX 200 oil and gas company closed yesterday at $7.14. Shares are currently trading for $7.29 apiece.

Here’s what investors are considering today.

What’s piquing ASX 200 investor interest?

The Santos share price looks to be getting a boost on two fronts.

First, the ASX 200 energy stock reported front-end engineering and design (FEED) work has commenced at its Papua LNG joint venture project, located in Papua New Guinea.

Santos holds a 22.8% interest in Papua LNG along with TotalEnergies (40.1% and operator) and ExxonMobil (37.1%).

The JV partners opted for the model using four electric LNG trains. The four trains have a combined capacity of four million tonnes per year and will be developed within the existing PNG LNG project site.

Santos reported that Papua LNG has also secured access to up to two million tonnes of existing liquefaction capacity from PNG LNG.

Commenting on the progress that could be helping boost the Santos share price today, CEO Kevin Gallagher said:

The concept selected for Papua LNG maximises value through midstream integration with PNG LNG to deliver increased capital efficiency and lower operating costs, consistent with our disciplined operating model.

FEED entry for Papua LNG is a significant step for the project.

Papua LNG is forecast to have a liquefaction capacity of up to six million tonnes of LNG per year. Santos expects first production by or shortly before early 2028.

Other tailwinds for the Santos share price

Also potentially helping lift the Santos share price today is some strong support for gas-powered energy announced by prime minister Anthony Albanese.

Speaking at the Australian Financial Review Business Summit, Albanese stressed the importance of gas in the ongoing global transition to cleaner energy.

“This is where gas in particular has a key role to play, as a flexible source of energy – providing peaking power today and continuing to provide firming and back-up power,” he said. “Helping to smooth the transition to renewables, while guaranteeing energy security both for Australia and for our partners in the region.”

Albanese added that it’s important that energy companies and their investors “can look to government for the confidence and certainty of a stable foundation and a long-term vision”.

Santos share price snapshot

As you can see in the chart below, the Santos share price is back in the green for 2023, up 2.1% since the closing bell on 30 December.

The post Why is the Santos share price marching higher on Tuesday? appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• 2 ASX 200 mining shares to buy in March: analysts
• 5 things to watch on the ASX 200 on Monday
• ‘Result was incredible’: 3 ASX 200 shares Jun Bei Liu would buy now
• 5 things to watch on the ASX 200 on Thursday
• 5 things to watch on the ASX 200 on Tuesday

Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/Mr53YwG

The team at Morgans regularly picks out its best ASX share ideas. These are the ASX shares that the broker thinks offer the highest risk-adjusted returns over a 12-month timeframe supported by a higher-than-average level of confidence.

Among its best ideas for March are the three ASX shares listed below. Here’s what the broker is saying about them:

Commonwealth Bank of Australia (ASX: CBA)

Australia’s largest bank is on Morgans’ best ideas list again in March. This is despite the broker only having a hold rating and $96.11 price target on its shares. The broker explained:

The second largest stock on the ASX by market capitalisation. We view CBA as the highest quality bank and a core portfolio holding for the long term, but the trade-off is it is the most expensive on key valuation metrics (including the lowest dividend yield). Amongst the major banks, CBA has the highest return on equity, lowest cost of equity (reflecting asset and funding mix), and strongest technology. It is currently benefitting from the sugar hit of both the rising rate environment and relatively benign credit environment.

Endeavour Group Ltd (ASX: EDV)

A new addition to the list this month is drinks giant Endeavour. Morgans believes recent share price weakness has created a buying opportunity for investors. It has an add rating and $7.80 price target on its shares. Morgans commented:

We believe the share price weakness over the past six months on the back of an uncertain regulatory environment (eg, potential introduction of cashless gaming cards in NSW) has shifted the balance of risks to the upside with EDV’s underlying business remaining strong. The company possesses a broad network of retail liquor stores/hotel venues, well-known brands (eg, Dan Murphy’s and BWS) and dominant market positions.

Universal Store Holdings Ltd (ASX: UNI)

Another new addition on Morgans’ best ideas list is Universal Store. The broker likes the youth fashion retailer due to its expansion potential, online opportunity, and its exposure to younger consumers. Morgans has an add rating and $7.00 price target on its shares. It said:

Universal Store (UNI) is one of the largest and fastest growing fashion retailers in Australia. Through a national network of over 100 stores and a successful online platform, UNI curates a diverse range of men’s and women’s fashion, shoes and accessories from local and international brands as well as its own private labels. UNI’s stores trade under the Universal Store, Perfect Stranger and THRILLS banners. UNI has opportunities to grow steadily through the rollout of bricks and mortar stores, increased digital penetration and expansion of wholesale channels. While we recognise the general risk around a decline in consumer expenditure on discretionary categories like apparel, we highlight that the youth demographic is likely to be more resilient.

The post Morgans names 3 of the best ASX shares to buy in March appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Bond blitz: CBA offers 6.7% yield, but not on its shares
• Making the first $1,000 in passive income: These are the ASX shares I would buy first
• Buy Rio Tinto and this ASX dividend share: Goldman Sachs
• 6 ASX 200 directors buying up their companies’ shares this week
• Morgans names 2 ASX dividend shares to buy with big yields

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/tYIUyG0

The Weebit Nano Ltd (ASX: WBT) share price leapt 7.6% higher in morning trade. 

The ASX tech share, which develops advanced memory technologies for the global semiconductor industry, closed yesterday trading at $7.07. In earlier trade, shares were changing hands for $7.61.

As we head into the lunch hour there looks to have been some profit-taking going on, with the Weebit Nano share price currently up 4%.

This comes on the back of commercialisation news for one of the company’s core products.

What did the ASX tech share report?

The Weebit Nano share price is marching higher after the company reported on the commercial availability of its resistive RAM (ReRAM) IP.

ReRAM is available in SkyWater Technology’s (NASDAQ: SKYT) 130nm CMOS (S130) process. SkyWater’s customers can now integrate Weebit’s non-volatile memory (NVM) in their system-on-chip (SoC) designs.

The company says its ReRAM enables faster semiconductor designs at a lower cost. It also highlighted that ReRAM is more reliable and energy efficient than those using flash or other emerging NVMs.

Commenting on the progress that’s sending the Weebit share price higher today, CEO Coby Hanoch said:

Our valuable partnership with SkyWater has enabled us to bring this first Weebit ReRAM product to market. Our teams have worked tirelessly towards commercialisation of the technology, with our ReRAM IP now commercially available for customers to design their products in SkyWater’s US foundry.

ReRAM is no longer the technology of the future – it is here now.

Looking ahead at the next steps, Hanoch said, “We are now working with a number of potential customers to map the technology’s advantages to their specific design requirements.”

SkyWater CTO Steve Kosier added, “Weebit’s technology has excellent reliability even at high temperatures, and is tolerant to radiation and electro-magnetic fields, making it a great fit for many of our customers’ demanding target markets.”

Weebit will demonstrate its S130 ReRAM IP module in Nuremberg, Germany at Embedded World 2023 on 14-16 March.

Weebit to enter ASX 300

Also likely adding some tailwinds for the Weebit share price is the stock’s upcoming inclusion in the S&P/ASX 300 Index (ASX: XKO). That’s part of the S&P Dow Jones Indices March 2023
quarterly rebalance, announced on Friday.

Being included in the ASX 300 means that more fund managers, often limited to larger-cap stocks, will be able to invest in the company.

Weebit Nano share price snapshot

As you can see in the chart below, the Weebit Nano share price is up a whopping 126% so far in 2023. Over the past 12 months, the ASX tech share has rocketed 172%.

The post Weebit Nano share price just surged 7% on product commercialisation news appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Down 17% in 2 days, has the dream run for Weebit Nano shares finally ended?
• Up 59% in a month, guess which ASX All Ords share just hit another multi-year high
• Why Kogan, Praemium, TPG, and Weebit Nano shares are racing higher
• 3 ASX All Ords shares making moves today following earnings, one up 16%
• ASX tech share Weebit Nano has surged 90% in 2023. What’s going on?

Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/whz2QbO

The S&P/ASX 200 Index (ASX: XJO) is having a bit of a slow day so far this Tuesday. At the time of writing, the ASX 200 has slumped by 0.15%, dragging the Index down to around 7,317 points. But that’s nothing compared to the woes of the Megaport Ltd (ASX: MP1) share price.

ASX 200 tech share Megaport is having a shocker today, no way around it. The Megaport share price closed at $5.74 yesterday. But the company opened at $5.50 this morning and has fallen a nasty 10.8% so far, down to just $5.12 a share. Ouch.

So what’s going on here that has elicited such a dramatic slump in the value of Megaport shares this Tuesday?

Well, it appears this share price slump has been sparked by some news out of the company today. In an “executive management update” released to the markets this morning before open, Megaport has announced that none other than its CEO, Vincent English, has tendered his resignation, effective immediately.

Megaport share price tanks after CEO’s abrupt departure

In the ASX statement, Megaport founder and chair, Bevan Slattery, had this to say:

Vincent has provided outstanding leadership as CEO of Megaport for the past six years, leading the business through its scale up and scale out transformation.

Vincent has been responsible for driving the vision of the Company through a period of incredible growth and for creating a legacy which sets the Company up for accelerated revenue growth and operational success in the future.

No other reasons were given for English’s rather abrupt departure.

Slattery will now act as interim CEO while Megaport commences a “global search” for its next leader. English will remain “available” at Megaport until 30 April to “advise and assist” the company with the transition.

English might get some heart from the Megaport share price’s reaction to the news of his departure — investors clearly aren’t thrilled. Although this might also be a consequence of the somewhat rushed nature of this development.

But the Megaport share price has been on struggle street for a while regardless. The company has lost almost 15% year to date in 2023 so far, as well as a painful 60% or so over the past 12 months:

Megaport shares are also down more than 75% from their all-time high above $21 a share that we saw back in late 2021.

The post Megaport share price tumbles 10% on CEO resignation appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Guess which ASX 200 CEO just sold $5 million worth of his company shares?
• Hoping to collect the latest CSL dividend? Here’s how
• 5 things to watch on the ASX 200 on Tuesday
• Here are the 3 most heavily traded ASX 200 shares on Monday
• Guess which ASX 200 director just bought 50,000 of their company’s shares

Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Megaport. The Motley Fool Australia has recommended Megaport. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/NwZdMqf