» Intel Corporation, Micron Technology, Avago Technologies Ltd Under Pressure As Drexel Hamilton Downgrades Semiconductor Stocks

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Intel Corporation, Micron Technology, Avago Technologies Ltd Under Pressure As Drexel Hamilton Downgrades Semiconductor Stocks

Intel-Corporation-(INTC)-Micron-(MU)-Avago-(AVGO)-Under-Pressure-As-Semis-Get-Downgraded-At-Drexel-Hamilton

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.

Categories: Business, Technology August 8th, 2015

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