Philadelphia Semiconductor Index (SOXX)

[Stock]

MARKET TALK: Baird Upgrades Chip Names; 3Q Looks Brighter

Last update: 8/13/2009 8:28:40 AM

Edited by John Shipman
Of DOW JONES NEWSWIRES

(call: 212 416 2181; e-mail:[e-mail])

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8:28 (Dow Jones) Orders for semiconductors in August suggest that normal buying patterns are emerging in the sector, Baird says, giving hope that 3Q could show strong growth relative to 2Q.

Also, firm sees chip shipments peaking later than normal this year, with "positive implications" for 4Q revenue that could extend the recent chip rally into 2010.

Firm upgrades

Analog Devices (ADI),
Diodes (DIOD) to outperform;

Texas Instruments (TXN) to neutral.

Raises estimates for Fairchild (FCS),
Monolithic Power (MPWR). (JDC)


(END) Dow Jones NewswiresAugust 13, 2009 08:28 ET (12:28 GMT)