Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Markets & Finance

Friedman Billings Downgrades Three Chip Stocks

From Standard & Poor's Equity Research

Friedman Billings downgraded semiconductor stocks National Semiconductor (NSM), ON Semiconductor (ONNN), and Texas Instruments (TXN) to market perform.

Analyst Chris Caso says he is downgrading National Semiconductor mostly due to weaker-than-expected demand from handset segment; cuts $32 target to $22 on lower estimates and compressed multiples for the semiconductor group as a whole.

Caso cut ON Semiconductor and his price target from $8 to $5, on what he believes are easing supply constraints entering the third quarter, which likely affect the company's ability to continue its ASP improvement.

He lowers Texas Instruments' rating as recent checks suggest that signs of component weakness apparent in early June have continued to broaden; he cut his $40 target to $27.

He had formerly rated all three stocks as outperform.

blog comments powered by Disqus