Barclays on Semiconductor Stocks: Top Ideas; Updated Thoughts on BRCM

Barclays on Semiconductor Stocks: Updated Thoughts on BRCM

Analyst, C.J. Muse, continues to see 'Top Idea' stocks that are tied to Apple (Nasdaq: AAPL) or Samsung, including QUALCOMM (Nasdaq: QCOM), Broadcom (Nasdaq: BRCM), and SkyWorks (Nasdaq: SWKS).

Muse sees a recovery happening in the secord half of 2012, in which Altera (Nasdaq: ALTR) and Cavium (Nasdaq: CAVM) should benefit. Other noted names include NXP Semiconductors (Nasdaq: NXPI), Avago (Nasdaq: AVGO), Micron (NYSE: MU), LSI (NYSE: LSI) and Cypress (NYSE: CY), Teradyne (NYSE: TER) and ASML (Nasdaq: ASML).

Barclays maintains an Overweight rating and $42 price target on Broadcom (Nasdaq: BRCM) heading into tonight's earnings report. However, Muse says there is a change the company could report closer to $0.62/share vs. consensus of $0.66/share, citing a decline in Apple builds (flat ofr iPads). Muse thinks investors should accumulate shares of BRCM on any weakness.

To see more ratings on BRCM, Click Here

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