|Bid||0.00 x 900|
|Ask||0.00 x 900|
|Day's Range||49.21 - 50.80|
|52 Week Range||28.79 - 50.80|
|Beta (3Y Monthly)||1.62|
|PE Ratio (TTM)||14.23|
|Earnings Date||Aug 14, 2019 - Aug 19, 2019|
|Forward Dividend & Yield||0.84 (1.76%)|
|1y Target Est||51.48|
The US markets are up today as Wall Street braces for a busy earnings week. The S&P; 500 ETF is up 0.3%, and semiconductor stocks lead the market's gains.
Semiconductor equipment stocks are trading higher Monday after (GS) turned positive on the sector. It expects a pickup in demand from memory chip manufacturers starting in 2020. Note that Goldman Monday also upped its rating on (MU) (MU), as well as the South Korean memory chip maker (000660) (000660.Korea).
The semiconductor stock group got a boost Monday when Goldman Sachs updated its coverage on some popular names. The Analysts Goldman analyst Mark Delaney upgraded Micron Technology, Inc. (NASDAQ: MU ) ...
The Nasdaq led stocks higher Monday as three chip stock upgrades sweetened early trade. Disney topped the Dow Jones industrial index.
(Bloomberg) -- Semiconductor companies could see an improvement in inventory levels faster than previously anticipated, according to Goldman Sachs, which upgraded a number of companies “on early signs of memory stabilization.”Micron Technology Inc. was lifted to buy from neutral, as were Lam Research Corp. and Applied Materials Inc., the latter of which was added to Goldman’s Conviction List. KLA Corp. was upgraded to neutral from sell.“We are now more positive on global memory stocks as we believe that the excess inventory memory companies are carrying will be depleted faster than our previous expectations,” wrote analyst Mark Delaney, who pointed to a June outage at Toshiba Memory Corp. that had reduced production. This power failure was also seen as providing support to pricing and inventory levels at Western Digital Corp.While Goldman had previously expected supply and demand for NAND memory chips to improve in 2020, “our most recent industry discussions suggest that NAND pricing could start to improve from low levels” in the third quarter of 2019. According to data compiled by Bloomberg, Micron derived more than 25% of its 2018 revenue from trade NAND chips.Micron “is the best stock to express our view” on improving memory trends, the firm wrote, raising its price target to $56 from $40. Shares gained 3.6% to trade at their highest level since September. The stock is up more than 40% from a low in late June, and is poised for its fourth straight positive session.Applied Materials gained 3.8%, while KLA rose 1.3%. Lam jumped 3.2% and was on track for its ninth positive session of the past 10 trading days.“While visibility is limited in the near term and, we see downside to 2H19/2020 Street estimates, we believe disciplined supply-side actions from the memory manufacturers” will support both improvements in supply and demand, as well as higher levels of Wafer Fab Equipment spending in 2020, Goldman wrote.The firm also lifted its price target on Western Digital to $54 from $46, but kept its neutral rating, citing “better valuation support for Micron,” as well as a recently rally in Western’s stock, which Goldman wrote had priced in improving fundamentals.(Updates to market open in fifth and sixth graphs)To contact the reporter on this story: Ryan Vlastelica in New York at email@example.comTo contact the editors responsible for this story: Catherine Larkin at firstname.lastname@example.org, Steven FrommFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Goldman Sachs analyst Toshiya Hari upgraded Applied Materials Inc. and Lam Research Corp. shares to buy from neutral on Monday, while also upgrading KLA Corp. shares to neutral from sell. His increasing conviction on the sector reflects his view that the memory market is showing early signs of stabilization. "Predicated on our improved outlook in memory as well as our view that competitive dynamics will keep logic/foundry spending elevated, we now forecast the [wafer fab equipment] market to grow 7% year over year in 2020, up from our prior assumption of flat year over year," Hari wrote. He expects that more "disciplined" actions from memory manufacturers, including capital-expenditure cuts, will improve the memory supply/demand balance sooner than he previously expected and driver higher levels of wafer-fab equipment spending. Hari elevated Applied Materials shares to Goldman's conviction list in conjunction with the upgrade. Applied's shares have risen 46% so far this year, as the S&P 500 has gained 19%.
Goldman Sachs analyst Toshiya Hari turns bullish on the semiconductor capital equipment sector that is headed by Applied Materials, Lam Research and KLA.
When looking for new winning stocks, investors will often turn to the analysts. However, analysts often just maintain the same ratings so it’s hard to find fresh investing ideas. That’s why it’s a big deal if a company gets an upgrade from a trusted analyst, and when this happens investors should take notice. For example, HealthEquity, Inc. (HQY) share prices surged by 9% after Merrill Lynch analyst, Allen Lutz, upgraded the stock on July 19.Here are 10 stocks that got upgraded recently by the top Wall Street analysts. Stitch Fix, Inc. (SFIX)On July 21, five-star analyst, Scott Devitt, upgraded the online personal styling service from a Hold to a Buy and set a $35 price target. The Stifel Nicolaus analyst said, “Despite the slowdown in active client growth, we are confident in management’s ability to drive healthy ARPU growth in the intermediate term by continuing to improve keep rates through stronger personalization (Style Shuffle), high-quality client adds, and healthy retention.” He has a 71% success rate and on average gets a 23% return per rating. SFIX has a ‘Moderate Buy’ analyst consensus, with 4 Buy ratings vs 3 holds over the last three months. It has an average price target of $37, suggesting analysts believe share prices could jump by 38%. Applied Materials, Inc. (AMAT) AMAT got a vote of confidence yesterday from Goldman Sachs analyst, Toshiya Hari. Hari upgraded the semiconductor company to a Buy and raised the price target from $48 to $56. Its price target suggests upside potential of 17%. “We see AMAT benefiting from improved outlook due to leading WFE share position as well as favorable benefits from exposure to memory along with AMAT's increased willingness to deploy capital.” The stock boasts a ‘Strong Buy’ analyst consensus and $51 average price target, indicating 7% upside potential. Weight Watchers International, Inc. (WW)Top D.A. Davidson analyst, Linda Bolton Weiser, upgraded the weight loss program on July 19 to a Buy. She raised the price target from $25 to $32, suggesting 29% upside potential. “WW has already reported improved recruitment trends, chatter on app download data indicates stabilization of subscriber trends, and our proprietary analysis of Reddit comments indicates keto interest could be fading. Our data also show improved sentiment toward the meeting experience in 2Q19 vs. 1Q19. We believe 2019 earnings risk is low,” she said. However, the Street is cautious about WW. It has a ‘Hold’ analyst consensus and $26 average price target, suggesting 3% upside potential. Skechers USA, Inc. (SKX) On July 19, the shoemaker got an upgrade from Wedbush analyst, Christopher Svezia. He gave the stock a Buy rating and raised the price target from $31 to $46. He believes share prices could jump by as much as 18%. The analyst points to the company’s ability to manage expenses well in the past three quarters, and its focus on profitability as opposed to sales as the reason for the upgrade.SKX has a ‘Moderate Buy’ analyst consensus and a $43 average price target, suggesting 10% upside. PriceSmart, Inc. (PSMT)PriceSmart operates membership warehouse clubs in Central America and the Caribbean. Top Kansas City Capital analyst, Jonathan Braatz, upgraded PSMT to a Buy and set a $70 price target, demonstrating his belief that shares could rise by 13%. “The numbers have been getting stronger as the year has progressed. In June, PSMT reported that comparable-store sales rose 1.9% and, adjusted for currency, 4.7%. Still for the full year, we estimate this currency drag will be around $100 million,” he said. Braatz has an 83% success rate and a 17% average return per rating. The Street is cautiously optimistic on PSMT. It has a ‘Moderate Buy’ analyst consensus and $76 average price target, suggesting 23% upside. KBR, Inc. (KBR)The engineering company and former subsidiary of Haliburton was upgraded by Cowen & Co. analyst, Gautam Khanna, on July 19. The five-star analyst raised his price target from $23 to $31. Khanna has a 74% success rate and 14% average return per rating.KBR has a ‘Moderate Buy’ analyst consensus and $28 average price target, indicating 8% upside. American International Group, Inc. (AIG)On July 18, William Blair analyst, Adam Klauber, upgraded the insurance giant to a Buy as he believes it has long-term earning potential. “While it is still on the early side, we expect to see signs of a turnaround that should manifest over the next several years. The current management team appears to have laid the groundwork for a long-term rebound with significant mix repositioning, a shift in underwriting strategy, and de-risking of the investment portfolio,” he said. AIG boasts a ‘Strong Buy’ analyst consensus and $58 price target, suggesting 4% upside potential. Upwork Inc. (UPWK) Upwork is a global freelancing platform that facilitates collaboration between businesses and independent professionals. On June 26, Brent Thill of Jefferies upgraded his rating from a Hold to a Buy and set a $23 price target. “With the stock down 17% YTD and valuation at a 37% discount to peers, risk/reward has improved,” he said. The analyst has a 75% success rate and gets a 20% average return per rating," he said. UPWK has a ‘Moderate Buy’ analyst consensus and $22 average price target, suggesting 31% upside. Deckers Outdoor Corporation (DECK)DECK got a nod of approval from Merrill Lynch. Five-star analyst, Rafe Jadrosich, upgraded the footwear designer to a Buy and raised the price target from $150 to $180, suggesting 3% upside. “We like HOKA growth and buybacks which ought to generate a continuation in EPS upside,” Jadrosich said. The analyst boasts an impressive 83% success rate and a 32% average return per rating. The consensus among analysts is that DECK is a ‘Moderate Buy’. It has an average price target of $171. Analog Devices, Inc. (ADI)ADI is a semiconductor company specializing in data conversion, signal processing and power management technology. On June 10, Toshiya Hari also ugraded ADI from a Sell to a Buy and raised the price target from $101 to $114. “ADI, in our view, has exposure to multiple idiosyncratic revenue drivers. Specifically, we believe ADI's disproportionate exposure to the Comms Infrastructure end-market coupled with content gain opportunities in Automotive will drive growth that exceeds peers in the analog semiconductor space,” he said. ADI has a ‘Moderate Buy’ analyst consensus and $116 average price target.
These stocks are likely to endure sharp revenue declines in the next 12 months as demand weakens and the U.S.-China trade dispute drags on.
(Bloomberg) -- Exchange-traded fund investors have a lot riding on earnings from Taiwan Semiconductor Manufacturing Co. this Thursday.Almost 90% of the iShares PHLX Semiconductor ETF and the VanEck Vectors Semiconductor ETF -- the two largest semiconductor ETFs -- is in some way connected to the company, known as TSMC, according to Bloomberg supply-chain data. Semiconductor equipment suppliers like ASML Holding NV, Applied Materials Inc., and KLA Corp. all derived more than 10% of their revenue from TSMC in the previous quarter, the data show.For example, about 15% of Applied Materials’ fiscal second-quarter revenue came from its relationship with TSMC. Applied Materials has about a 4% weight in both the SOXX and SMH funds.Most major semiconductor companies don’t make the chips themselves. Instead, they will design them and outsource production to another company, like TSMC. TSMC is the world’s largest contract manufacturer of chips.TSMC “is unequivocally critical to the industry” and its earnings forecast will be closely watched by investors, said Bloomberg Intelligence analyst Anand Srinivasan. “Guidance is critical and color for the second half -- especially for smartphone chips -- may set the tone for how chip vendors are planning supply in anticipation of demand.”Performance of semiconductor stocks has been highly volatile so far in 2019, with swings of more than 10% up or down in four of the past six months, much more volatile than the S&P 500, according to Bloomberg Intelligence. After a wave of optimism that drove stocks to record highs this spring, investors have been growing increasingly skeptical that demand, pricing and inventory levels will improve in the second half of this year.\--With assistance from Tom Lagerman.To contact the reporter on this story: Carolina Wilson in New York City at email@example.comTo contact the editors responsible for this story: Catherine Larkin at firstname.lastname@example.org, Rachel EvansFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
In a packed Shanghai classroom on a hot afternoon, nearly a hundred "mom-and-pop" investors were honing their trading skills ahead of the first opening bell for China's Nasdaq-style tech board. Eight months after President Xi Jinping unveiled plans for Shanghai's technology innovation board, the first batch of 25 companies - ranging from chip-makers to biotech firms - will debut on the STAR Market. Modeled after Nasdaq, and complete with a U.S-style IPO system, STAR may be China's boldest attempt at capital market reforms yet.
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