Canaccord Genuity maintains a 'Hold' on Fairchild Semi (FCS); Lower Outlook Portends More Negatives from PC and Consumer
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Price: $19.86 --0%
Rating Summary:
3 Buy, 12 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
3 Buy, 12 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Canaccord Genuity maintains a 'Hold' on Fairchild Semi (NYSE: FCS) price target lowered to $11.
Canaccord analyst, Bobby Burleson, said, "We remain HOLD-rated on shares of FCS following the company's reduced outlook. In our view, investors should remain wary of FCS's commodity products and vulnerable gross margins in this uncertain environment, especially with the company's healthy exposure to PC and consumer, where OEM demand appears to be waning. We believe additional warnings from analog suppliers could be forthcoming, including Intersil and On Semi. Analog Devices may be partially insulated from low PC exposure and healthy gross margins, although end market weakness appears to be widespread."
For more ratings news on Fairchild Semi click here and for the rating history of Fairchild Semi click here.
Shares of Fairchild Semi closed at $12.47 yesterday.
Canaccord analyst, Bobby Burleson, said, "We remain HOLD-rated on shares of FCS following the company's reduced outlook. In our view, investors should remain wary of FCS's commodity products and vulnerable gross margins in this uncertain environment, especially with the company's healthy exposure to PC and consumer, where OEM demand appears to be waning. We believe additional warnings from analog suppliers could be forthcoming, including Intersil and On Semi. Analog Devices may be partially insulated from low PC exposure and healthy gross margins, although end market weakness appears to be widespread."
For more ratings news on Fairchild Semi click here and for the rating history of Fairchild Semi click here.
Shares of Fairchild Semi closed at $12.47 yesterday.
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