Applied Materials upgraded to Overweight from Neutral at JPMorgan JPMorgan upgraded Applied Materials to Overweight citing confidence in the current Moore’s Law–driven wafer equipment spending cycle and the closing of the merger with Tokyo Electron. The firm raised its price target for shares to $30 from $19.
Pacific Crest identifies favorite semiconductor stocks Pacific crest says that the semiconductor sector is being stymied by decade-high inventory levels and uncertain demand. In the current environment, the firm expects semiconductor stocks with high dividend yields and ongoing cost-reduction initiatives to outperform. It identifies Maxim Integrated (MXIM), Cypress Semiconductor (CY), Applied Materials (AMAT), and KLA-Tencor (KLAC) as its favorite names in the sector. It keeps Overweight ratings on all the stocks named.