Needham Downgrades 7 Semiconductor Stocks, Upgrades 1
Needham became “more cautious” on semiconductor stocks for 2015 and on Monday made several downgrades.
Analyst N. Quinn Bolton noted that following two years of outperformance, the risk-to-reward profile of the industry is now more balanced, which is reflected in the stocks.
Bolton cut ratings on six stocks from Buy to Hold:
Cavium Inc (NASDAQ: CAVM)
M/A-COM Technology Solutions Holdings (NASDAQ: MTSI)
MaxLinear, Inc. (NYSE: MXL)
RF Micro Devices, Inc. (NASDAQ: RFMD)
Skyworks Solutions Inc (NASDAQ: SWKS)
TriQuint Semiconductor (NASDAQ: TQNT)
Ambarella Inc (NASDAQ: AMBA) was lowered from Hold to Underperform and the stock fell over 5 percent in the pre-market amid the downgrade.
Inphi Corporation (NYSE: IPHI) was the one stock that Bolton upgraded; from Buy to Strong Buy. The stock recently traded at $16.55, up 6.6 percent.
Latest Ratings for CAVM
|Sep 2016||Susquehanna||Initiates Coverage on||Positive|
|Sep 2016||JP Morgan||Assumes||Overweight|
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