Chip stocks got a boost Monday from a positive report by RBC Capital Markets analyst Doug Freedman. He upgraded five semiconductor stocks to outperform from market perform: Altera (ALTR), Broadcom (BRCM), Micron Technology (MU), Nvidia (NVDA) and Texas Instruments (TXN). Freedman also raised his price targets on the five stocks. And he reiterated his outperform rating and raised price targets on five other chip stocks: Avago Technologies (AVGO),
Texas Instruments (TXN) stock was up 4.5% in large volume in afternoon trading Thursday, at a more than 13-year high, after posting Q1 earnings late Wednesday that indicated that a wider chip-industry recovery is under way. Texas Instruments is the world’s No. 7 semiconductor-maker and the largest maker of analog chips used in a wide range of consumer and industrial products and markets. No. 1 chipmaker Intel reported earnings last week that also
Intel (INTC) might acquire Broadcom (BRCM) to speed up its expansion into wireless and communications networking, speculates Nomura Securities in its 2014 semiconductor outlook. Nomura analyst Romit Shah also upgraded Micron Technology (MU) and Xilinx (XLNX) to buy ratings and downgraded Texas Instruments (TXN) and SanDisk (SNDK) to sell. He upgraded Intel to neutral. “Intel’s guidance seems doable for the first time in a while,” wrote Shah in a