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 CAVM
M/A-COM Technology Solutions Holdings MTSI
MaxLinear, Inc. MXL
RF Micro Devices, Inc. RFMD
Skyworks Solutions Inc SWKS
TriQuint Semiconductor TQNT

Ambarella Inc AMBA was lowered from Underperform to Hold and the stock fell over 5 percent in the pre-market amid the downgrade.

Inphi Corporation IPHI was the one stock that Bolton upgraded; from Buy to Strong Buy. The stock recently traded at $16.55, up 6.6 percent.