Bank of America remains bullish on semiconductor stocks heading into the fourth quarter, but the firm issued three semi stock downgrades Friday and said stock selection is critical at the moment.
The Semiconductor Analyst:
Analyst Vivek Arya issued the following ratings and price target changes:
Synopsys, Inc. (NASDAQ: SNPS) downgraded from Neutral to Underperform, $315 target reiterated.
Cirrus Logic, Inc. (NASDAQ: CRUS) downgraded from Neutral to Underperform, $92 target reiterated.
Cree, Inc. (NASDAQ: CREE) downgraded from Neutral to Underperform, $93 price target reiterated.
KLA Corp (NASDAQ: KLAC) reiterated Buy rating, price target raised from $425 to $450.
Microchip Technology Inc. (NASDAQ: MCHP) reiterated Buy rating, price target raised from $170 to $185.
NVIDIA Corporation (NASDAQ:
Related tickers: CREE, CRUS, KLAC, MCHP, MRVL, NVDA, NVMI, SNPS, AMD, AVGO, ON.
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