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Drexel Hamilton has weighed in on the semiconductor space, and downgraded several stocks such as Intel Corporation (NASDAQ:INTC), Micron Technology, Inc. (NASDAQ:MU), and Avago Technologies Ltd. (NASDAQ:AVGO). This was primarily due to the downward trend in the PC market.
Drexel Hamilton analysts downgraded Intel Corporation from Buy to Hold, and revised the target price (TP) downward, from $40 to $30, based on the declining visibility and softness in the PC market. Intel has been on a rollercoaster ride since the start of fiscal year 2015 (FY15), and fell approximately 21% this year, primarily because of the underwhelmed demand and weakness in the market.
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