Buy the Sell-Off in Semis, Jefferies Says (INTC) (NXPI) (BRCM) (SMH)

Jefferies analyst Mark Lipacis is out telling clients to buy the dip in semiconductors stocks. In particular the see opportunity to add to: Intel (NASDAQ: INTC), NXP Semiconductors (NASDAQ: NXPI), Broadcom (NASDAQ: BRCM), Maxim Integrated Products (NASDAQ: MXIM), and M/A-Com Technology Solutions (NASDAQ: MTSI).

Lipacis commented, "Wednesday was the 2nd worst 1-day sell-off for the SOX in a year, and we think investors are extrapolating TSMC comments about weaker demand to the broader industry. We think TSMC has company specific issues (share loss, inventories), and observe that this is the weakest quarter in the Asia supply chain, and semis appear to be shipping below the rate of their customers."

Related ETFs: Market Vectors Semiconductor ETF (NYSE: SMH)

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