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INTC - Intel News Story

$62.93 1.2  2.0%

Last Trade - 29/05/20

Sector
Technology
Size
Large Cap
Market Cap £215.85bn
Enterprise Value £231.34bn
Revenue £61.35bn
Position in Universe 23rd / 6364

BUZZ-Raymond James cuts PT of chipmakers on coronavirus impact

Mon 6th April, 2020 6:31pm
** Raymond James cuts PTs of Analog Devices Inc  ADI.O ,
Microchip Technology Inc  MCHP.O , Monolithic Power Systems
 MPWR.O , NXP Semiconductors  NXPI.O , ON Semiconductor Corp
 ON.O  
    ** Brokerage says the PT cuts were to account for both
supply disruptions and lower end demand resulting from the
pandemic situation
    ** However, shares of the chipmakers rose between 5.29% and
$12.25% amid a broader market rally
    ** Raymond James upgrades Intel Corp  INTC.O  to "market
perform" from "underperform" and says the company is exposed to
the end-markets such as notebooks and datacenter and is likely
to hold up best in the current environment
    ** Brokerage expect the surge in notebook sales to be
short-lived, while cloud and service provider datacenter
spending is expected to remain strong through 2020
    ** The Philadelphia SE Semiconductor Index  .SOX  is down
~16% so far this year 
 Companies                  Old PT      New PT
 Analog Devices Inc         $140        $100
 Microchip Technology       $125        $100
 Monolithic Power Systems   $210        $190
 NXP Semiconductors         $145        $115
 ON Semiconductor           $24         $18
 
 (Reporting by Amal S in Bengaluru)
 ((Amal.S@thomsonreuters.com; within U.S.+1 646 223 8780;
outside U.S. +91 80 6749 3677;))
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