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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 Underperform to Hold 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.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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