Markets & Finance

Merrill Upgrades 11 Key Chip Stocks

Merrill Lynch upgraded eight global chip stocks stocks to near-term buy: Analog Devices (ADI),

Linear Technology Corp. (LLTC), Maxim Integrated Products (MXIM), RF Micro Devices (RFMD), STMicroelectronics (STM), Taiwan Semiconductor Manufacturing (TSM), Texas Instruments (TXN

and United Microelectronics (UMC).

The firm also upgraded three stocks to near-term accumulate: Chartered Semiconductor ADS (CHRT), Micron Technology (MU) and Semtech Corp. (SMTC).

Merrill's semiconductor team reported that although the semiconductor industry continues to struggle with overcapacity and weak demand, they believe the worst of the downturn is past. The team thinks the combination of stabilizing EPS estimates, reduced capital spending, and the bottoming year-over-year change should cause semiconductor stocks to begin outperforming -- albeit slowly -- over the next six to 12 months.

Too Cool for Crisis Management

Sponsored Financial Commentaries

Sponsored Links

Buy a link now!

blog comments powered by Disqus