Apple Suppliers Are Among Touted Chips, While Intel Seen A Laggard
CLSA started coverage on a host of chip stocks, including some Apple ( AAPL ) suppliers, trying to separate the wheat from the chaff among Microchip Technology ( MCHP ), NXP Semiconductors ( NXPI ), Broadcom ( AVGO ), Intel ( INTC ) and others. CLSA gave a buy rating to NXP, a supplier to Apple and the automotive market, with a 105 target. NXP rose 0.7% in pre-market trading on the stock market today . . Broadcom, another Apple supplier, gets an outperform rating from CLSA, with a 165 target. Broadcom rose fractionally before the open. CLSA gave a buy rating to Microchip with a 58 target. Microchip rose slightly. Intel is seen underperforming the market with a 30 target. Intel shares were little changed after closing Monday at 30.39. One analyst thinks Darden Restaurants ( DRI ) is looking tasty, while another is curbing enthusiasm for F5 Networks ( FFIV ). Piper Jaffray raised Darden to an outperform with a 78 target. Darden was little changed. F5 Networks got a downgrade to sector weight from overweight at Pacific Crest as shares neared its prior 109 price target. Shares fell a fraction. FBR Capital thinks now is a good time to wade back into the oil patch, upgrading Halliburton ( HAL ) to outperform from market perform and raising its target to 49 from 44. Halliburton rose slightly.