Nomura Securities Semiconductor Monitor: Q3 Booking Update; Top Longs vs. Top Shorts

Nomura Securities Semiconductor Monitor: Q3 Booking Update

After a round of Company meetings, analyst, Romit Shah, said, "We maintain a Neutral sector view. Top long ideas are Broadcom (Nasdaq: BRCM), Maxim (Nasdaq: MXIM), and Avago (Nasdaq: AVGO). Top short ideas are Intel (Nasdaq: INTC) and Marvell (Nasdaq: MRVL). China exports decelerated in July, PMI is at or below 50 across every region, and the major rail companies reported double-digit declines in volumes. Communcation infrastructure is better in N. America and China as carriers prepare for a new 4G iPhone (Nasdaq: AAPL). We also believe that our Q4 estimate of flat sequential growth on Broadcom could be conservative. Recent weakness in Maxim represents an attractive entry point, in our view. At the same time, we are incrementally more cautious on TI (NYSE: TXN)(Neutral). We believe PC fundamentals are subdued owing to high channel inventory and weak orders from PC OEMs."

"Comm infrastructure is better in NA and China as carriers prepare for a new 4G iPhone. As such, Altera (Nasdaq: ALTR)(Reduce) and Xilinx (Nasdaq: XLNX)(Neutral) may continue to outperform in the short-term."

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Advance Auto Parts (AAP) PT Lowered to $48 at DA Davidson Following 25% Selloff Post Q2 Results
• Viking Holdings (VIK) PT Raised to $82 at Mizuho
• Rockwell Automation (ROK) PT Lowered to $490 at DA Davidson