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Semiconductor industry

Analyst Downgrades for 11/19/2009: AOC, ARMH, ASMI, ASML, HOTT, INTC, LSI, MMC, MRVL, MXIM, MCHP, NSM, POWI, PGR, TXN

Strategic Insights

— 1 min read

Eighteen companies received downgrades on November 19, 2009, as the market experienced a significant shift in sentiment. The downgrades came from various investment banks, including BofA/Merrill, Goldman, and Citigroup. The affected companies span across various industries, including technology, semiconductors, and insurance. The downgrades were part of a broader trend of analysts adjusting their forecasts in response to changing market conditions.

Key Takeaways:

  • Aon Corp (NYSE:AOC) was downgraded to Neutral from Buy with a target price of $45 at BofA/Merrill.
  • Arm Holdings (NASDAQ:ARMH) was downgraded to Underperform with a target price of $6.80 at BofA/Merrill.
  • ASM International (NASDAQ:ASMI) was downgraded to Neutral with a target price of EUR 19 at Goldman.
  • ASML (NASDAQ:ASML) was downgraded to Neutral from Buy with a target price of $33 at BofA/Merrill.
  • Hot Topic (NASDAQ:HOTT) was downgraded to Sell from Hold with a target price of $5 at Citigroup.
  • Intel (NASDAQ:INTC) was downgraded to Neutral from Buy with a target price of $21.50, a decrease from $27, at BofA/Merrill.
  • LSI Corp (NYSE:LSI) was downgraded to Neutral from Buy at BofA/Merrill.
  • Marsh & McLennan (NYSE:MMC) was downgraded to Underperform from Neutral with a target price of $25 at BofA/Merrill.
  • Marvell Technology (NASDAQ:MRVL) was downgraded to Neutral at BofA/Merrill.
  • Maxim Integrated Products (NASDAQ:MXIM) was downgraded to Neutral from Buy at BofA/Merrill.
  • Microchip (NASDAQ:MCHP) was downgraded to Underperform from Neutral at BofA/Merrill.
  • National Semi (NYSE:NSM) was downgraded to Neutral from Buy at BofA/Merrill.
  • Power Integrations (NASDAQ:POWI) was downgraded to Neutral from Buy at BofA/Merrill.
  • Progressive Insurance (NYSE:PGR) was downgraded to Neutral with a target price of $18 at BofA/Merrill.
  • Texas Instruments (NYSE:TXN) was downgraded to Neutral with a lowered price target of $27 from $33 at BofA/Merrill.

Statistics:

  • Eighteen companies received downgrades on November 19, 2009.
  • The downgrades came from BofA/Merrill (10), Goldman (1), and Citigroup (1).
  • The target prices for the downgraded companies ranged from $5 (Hot Topic) to $45 (Aon Corp).
  • The most common reason for the downgrades was a change in market sentiment.

Sources:

  • "Analyst Downgrades for 11/19/2009" via SmarTrend(R) Upgrades/Downgrades via COMTEX, November 19, 2009.
  • SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time.

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