Jefferies Downgrades SemiLEDs Corporation (LEDS) to Hold

July 7, 2011 8:13 AM EDT
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Price: $7.83 -7.99%

Rating Summary:
    1 Buy, 4 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 13 | Down: 26 | New: 41
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Jefferies downgraded SemiLEDs Corporation (NASDAQ: LEDS) from Buy to Hold and slashes its price target from $15 to $6.

The firm states, "The LED recovery has been slow; SemiLEDs is not participating and is at a disadvantage because it is not fully vertically integrated. SemiLEDs is also facing increased chip competition from the likes of Cree (Nasdaq: CREE), Epistar, and Samsung. While further downside is limited, we believe risk and reward are balanced at current levels."

For more ratings news on SemiLEDs Corporation click here and for the rating history of SemiLEDs Corporation click here.

Shares of SemiLEDs Corporation closed at $6.08 yesterday.

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