Nomura Securities Global Semi Monitor
Tweet
Share
E-mailGet Alerts INTC Hot Sheet
Price: $92.32 -7.89%
Rating Summary:
24 Buy, 39 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 5
Rating Summary:
24 Buy, 39 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 12 | New: 5
Join SI Premium – FREE
Nomura Securities Global Semi Monitor by Romit Shah
Shah said, "Expect semi companies will likely guide June qtr revenues broadly in-line with consensus, which is forecasting revenue growth of 3% vs seasonality of 5%. We believe this will be a short-term positive for the group given consensus expectations for negative estimate revisions. The exceptions are Intel (Nasdaq: INTC) (Neutral rated) and Texas Instruments (NYSE: TXN) (Reduce rated). While backlog is solidly higher q/q due to double-ordering at select OEMs, we do not view the strength in bookings as sustainable due to weak end demand. Furthermore, checks in Asia and the US support our view that sell-through is weaker across multiple end markets. We continue to view the risk/reward in US semi stocks as not favorable, and are cautious on TXN given positioning in wireless, as well as INTC and Marvell (Nasdaq: MRVL) (both Neutral) due to weak PC trends and share loss in wireless."
Shah said, "Expect semi companies will likely guide June qtr revenues broadly in-line with consensus, which is forecasting revenue growth of 3% vs seasonality of 5%. We believe this will be a short-term positive for the group given consensus expectations for negative estimate revisions. The exceptions are Intel (Nasdaq: INTC) (Neutral rated) and Texas Instruments (NYSE: TXN) (Reduce rated). While backlog is solidly higher q/q due to double-ordering at select OEMs, we do not view the strength in bookings as sustainable due to weak end demand. Furthermore, checks in Asia and the US support our view that sell-through is weaker across multiple end markets. We continue to view the risk/reward in US semi stocks as not favorable, and are cautious on TXN given positioning in wireless, as well as INTC and Marvell (Nasdaq: MRVL) (both Neutral) due to weak PC trends and share loss in wireless."
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Intel (INTC) PT Lowered to $125 at Cantor Fitzgerald on Cloudy Picture for Client, Share Losses
- Boyd Gaming (BYD) PT Raised to $92 at Stifel Following Quarter With No Surprises
- Union Pacific (UNP) PT Raised to $335 at Benchmark Following Q2 Results
Create E-mail Alert Related Categories
Analyst CommentsRelated Entities
NomuraSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
