Analyst Sees Comeback in Semis (SMH)

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Since May 4th, Market Vectors Semiconductor ETF (NYSE: SMH) is down over 10 percent, but considering healthy fundamentals, analysts at Canaccord Genuity think the sell off in semiconductor stocks is overdone.

"Although there are pockets of disappointing demand, orders broadly continue to track expectations while smartphones and tablets are setting up for a strong H2," said technology analyst Bobby Burleson in a letter dated June 3rd.

Burleson's top picks in this space are Advanced Micro Devices, Inc. (NYSE: AMD) Broadcom Corp. (NASDAQ: BRCM) Integrated Device Technology, Inc (NASDAQ: IDTI) and MRV Communications, Inc (NASDAQ: MRVL).

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