RBC Capital analyst Mahesh Sanganeria this morning downgrades shares of Maxim (MXIM), Intersil (ISIL) and Zoran (ZRAN), to reflect a more cautious view on the chip sector generally, and consumer-driven semiconductor companies in particular. All three stocks were reduced to Sector Perform from Outperform.
“Our checks over the last few weeks have indicated slowing demand, particularly in consumer-driven segments and regionally in Europe and China,” he writes in a research note. “Based on our discussion with supply-chain contacts, we are concerned that the supply chain might begin [a] destocking process, which could be exacerbated in a seasonally weak Q4.”
Sanganeria notes that he remains bullish on Altera (ALTR) and Xilinx (XLNX), which have “almost no consumer exposure,” and likewise continues to recommend Broadcom (BRCM) and Intel (INTC).
In today’s trading:
- MXIM is down a penny at $16.90.
- ISIL is down 5 cents at $12.02.
- ZRAN is down 8 cents at $9.08.
No comments:
Post a Comment