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NANO

Nanometrics

$21.39

-0.99 (-4.42%)

, LRCX

Lam Research

$99.59

-2.56 (-2.51%)

06:58
10/12/16
10/12
06:58
10/12/16
06:58

Nanometrics, Lam Research downgraded to Sector Weight at Pacific Crest

Pacific Crest analyst Weston Twigg downgraded both Nanometrics (NANO) and Lam Research (LRCX) to Sector Weight from Overweight saying 3D NAND equipment demand is likely to peak in 2017. The analyst expects order declines and limited demand growth for semiconductor equipment names, which he sees limiting share upside. Twigg keeps Overweight ratings on Applied Materials (AMAT), MKS Instruments (MKSI) and Entegris (ENTG) for their longer term potential.

NANO

Nanometrics

$21.39

-0.99 (-4.42%)

LRCX

Lam Research

$99.59

-2.56 (-2.51%)

AMAT

Applied Materials

$28.64

-0.74 (-2.52%)

MKSI

MKS Instruments

$47.96

-1.4 (-2.84%)

ENTG

Entegris

$16.48

-0.51 (-3.00%)

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NANO Nanometrics
$21.39

-0.99 (-4.42%)

07/18/16
BFIN
07/18/16
NO CHANGE
BFIN
Semi Equipment sector upgraded to Positive from Slightly Positive at BlueFin
BlueFin says its checks indicate that wafer fab equipment spending is poised to gain momentum for the rest of the year. Reporting that the positive trend is being driven by 3D NAND and 10nm, BlueFin now estimates that spending on the category could rise 2%-3% in 2016, up from its previous estimate of "flattish." BlueFin thinks that semi equipment stocks are also benefiting from positive trends in EUV adoption and increased requirements in process control. It identifies its favorite stocks in the sector, in order, as Lam Research (LRCX), Nanometrics (NANO), and Applied Materials (AMAT).
10/12/16
PACS
10/12/16
DOWNGRADE
PACS
Sector Weight
Nanometrics downgraded to Sector Weight from Overweight at Pacific Crest
06/27/16
STFL
06/27/16
NO CHANGE
STFL
Nanometrics price target raised to $25 from $21 at Stifel
Stifel believes that Nanometrics' path to its target of $300M in annual revenue and the firm's pro-forma EPS target of $1.80 have "become much clearer." The firm thinks that the company could hit its revenue target "over the next two to three years." It keeps a Buy rating on the shares.
07/15/16
PACS
07/15/16
NO CHANGE
PACS
Nanometrics price target raised to $24 from $20 at Pacific Crest
Pacific Crest says that Nanometrics "has won virtually all the available business at three 3D NAND producers and over half the business at two producers." The firm expects the company to benefit from strong spending on 3D NAND going forward. It keeps an Overweight rating on the shares.
LRCX Lam Research
$99.59

-2.56 (-2.51%)

10/07/16
NEED
10/07/16
NO CHANGE
Target $115
NEED
Buy
Lam Research price target raised to $115 from $105 at Needham
Needham analyst Y. Edwin Mok raised his price target for Lam Research (LRCX) to $115 from $105 after the company and KLA-Tencor (KLAC) terminated the proposed merger after trying to win regulatory approval for almost 12 months, citing a block from the Department of Justice. The analyst sees the news to be "ultimately positive" for Lam Research as management can now focus its effort on its growth strategies. Mok reiterates a Buy rating on Lam Research's shares. He also upgraded KLA-Tencor to Buy this morning.
10/07/16
NEED
10/07/16
UPGRADE
NEED
Buy
KLA-Tencor upgraded on positive risk/reward at Needham
As noted earlier, Needham upgraded KLA-Tencor (KLAC) to Buy from Hold. Analyst Y. Edwin Mok says that the stock's risk/reward ratio is positive after its multiple fell in the wake of the company's now terminated merger with LAm Research (LRCX). The analyst expects KLA-Tencor to grow rapidly in 2017, driven by " strengthened foundry demand, ramping of Gen 5 optical inspection tools, growth from other new products, and a leaner operating structure enabling better margins/profitability ahead." Target $84.
10/12/16
PACS
10/12/16
DOWNGRADE
PACS
Sector Weight
Lam Research downgraded to Sector Weight from Overweight at Pacific Crest
10/07/16
10/07/16
UPGRADE
Target $84

Buy
KLA-Tencor upgraded to Buy after merger termination at Needham
As previously reported, Needham analyst Y. Edwin Mok upgraded KLA-Tencor (KLAC) to Buy from Hold, with an $84 price target, after the company and Lam Research (LRCX) terminated their proposed merger. The analyst believes the deal termination has several benefits including more focus on execution of growth strategy, and highlights importance of process control. Additionally, it allows KLA-Tencor to independently pursue M&A to gain market share or expand its TAM, and transition to leaner operating structure going forward, he notes.
AMAT Applied Materials
$28.64

-0.74 (-2.52%)

10/04/16
GSCO
10/04/16
DOWNGRADE
GSCO
Buy
Applied Materials downgraded to Buy from Conviction Buy at Goldman
Goldman analyst Toshiya Hari removed Applied Materials from the Conviction Buy List due to relative outperformance. The analyst maintains a Buy rating and $33 price target on shares given strong industry fundamentals, market share gains, opportunity in mobile display, a strong management team, and upside to Street estimates.
10/05/16
RBCM
10/05/16
NO CHANGE
RBCM
Micron report reads positively for Applied Materials, Lam, says RBC Capital
Following Micron's (MU) quarterly report and guidance, RBC Capital Amit Daryanani said he sees positive read-through from the report for Applied Materials (AMAT), Lam Research (LRCX), ASML (ASML), Western Digital (WDC) and Intel (INTC). Micron management expects capex spending of $4.8B-$5.2B for FY17, noted Daryanani, who believes continued 3D NAND spending will benefit Applied and Lam the most.
09/19/16
SBSH
09/19/16
NO CHANGE
Target $37
SBSH
Buy
Applied Materials price target raised to $37 from $32 at Citi
Citi analyst Atif Malik raised his price target for Applied Materials to $37 ahead of the company's investor day on September 21. The analyst sees multiple expansion with "spend drivers like 3D NAND, China, and OLED" remaining "in early innings," Malik tells investors in a research note. He reiterates a Buy rating on Applied Materials.
09/15/16
STFL
09/15/16
NO CHANGE
STFL
Applied Materials poised to benefit from VR, AR, says Stifel
Stifel analyst Patrick Ho says that augmented reality and virtual reality should boost Applied Materials' semiconductor equipment and display equipment businesses. The proliferation of "more real-life" VR and AR applications beginning in 2019-2020 should lead to "additional wafer starts and an acceleration of OLED capacity in the industry," lifting Applied Materials' results, according to the analyst. He says that the company's leadership positions in both areas make it the best positioned in the sector to benefit from AR and VR He keeps a Buy rating on the shares.
MKSI MKS Instruments
$47.96

-1.4 (-2.84%)

02/25/16
PACS
02/25/16
NO CHANGE
PACS
MKS Instruments acquisition positive, says Pacific Crest
After MKS agreed to buy Newport, Pacific Crest says the deal increases the number of sales channels that MKS can exploit and diversifies its offerings away form semiconductors. The firm thinks that MKS' stock can rise over the long-term ,and it keeps a $42 price target and Overweight rating on the shares.
05/12/16
STFL
05/12/16
NO CHANGE
STFL
MKS Instruments price target raised to $49 from $43 at Stifel
Stifel raised its price target on MKS to reflect the close of the company's acquisition of Newport. The firm expects MKS to meet many of its cost and revenue synergy targets, and it expects Newport to grow under MKS' auspices. Stifel keeps a Buy rating on the shares.
10/12/16
SBSH
10/12/16
INITIATION
Target $59
SBSH
Buy
MKS Instruments initiated with a Buy at Citi
Citi analyst Amanda Scarnati started MKS Instruments with a Buy rating and $59 price target. The analyst sees further share upside as MKS starts achieving targets related to the Newport acquisition.
07/28/16
DOTC
07/28/16
DOWNGRADE
DOTC
Neutral
MKS Instruments downgraded to Neutral from Buy at Dougherty
ENTG Entegris
$16.48

-0.51 (-3.00%)

01/25/16
PACS
01/25/16
UPGRADE
PACS
Overweight
Entegris upgraded on valuation, outlook at Pacific Crest
As noted earlier, Pacific Crest upgraded Entegris to Overweight from Sector Weight. The firm upgraded the stock based on valuation and its belief that the company will benefit from slowing node transitions and consolidation in the semiconductor sector. Target $14.
07/28/16
PACS
07/28/16
NO CHANGE
PACS
Entegris price target raised to $20 from $16 at Pacific Crest
Pacific Crest analyst Weston Twigg raised his price target on Entegris after the company reported stronger than expected results. Twigg thinks that the company's guidance was "bullish," and he remains upbeat on its longer term outlook. He keeps an Overweight rating on the shares.
07/28/16
DOTC
07/28/16
DOWNGRADE
DOTC
Neutral
Entegris downgraded to Neutral from Buy at Dougherty
01/25/16
01/25/16
UPGRADE

On The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: American Express (AXP) upgraded to Perform from Underperform at Oppenheimer... BankMutual (BKMU) upgraded to Outperform from Market Perform at Hovde Group... Black Hills (BKH) upgraded on acquisition at BMO Capital... Bruker (BRKR) upgraded to Buy from Hold at Cantor... Cedar Fair (FUN) upgraded to Conviction Buy from Buy at Goldman... Charles Schwab (SCHW) upgraded to Buy from Neutral at Nomura... Corporate Office Properties (OFC) upgraded to Buy from Neutral at Mizuho... Entegris (ENTG) upgraded on valuation, outlook at Pacific Crest... First Financial upgraded to Outperform from Market Perform at Keefe Bruyette... Goldman Sachs (GS) upgraded to Buy from Neutral at Nomura... Graphic Packaging (GPK) upgraded to Outperform from Neutral at Macquarie... Home Depot (HD) upgraded to Buy from Hold at Deutsche Bank... Intel (INTC) upgraded to Outperform from Neutral at Macquarie... J.B. Hunt (JBHT) upgraded to Buy from Hold at BB&T... Magna (MGA) upgraded to Buy from Neutral at Citi... Masco (MAS) upgraded to Buy from Hold at Evercore ISI... Mattel (MAT) upgraded to Conviction Buy from Buy at Goldman... O'Reilly Automotive (ORLY) upgraded to Buy from Hold at Deutsche Bank... PACCAR (PCAR) upgraded to Buy from Neutral at Citi... People's United (PBCT) upgraded to Neutral from Underweight at Piper Jaffray... Quality Systems (QSII) upgraded to Overweight from Neutral at Piper Jaffray... RadiSys (RSYS) upgraded to Buy from Hold at Needham... Standard Motor (SMP) upgraded to Buy from Neutral at CL King... Swedbank (SWDBY) upgraded to Hold from Underperform at Jefferies... Toll Brothers (TOL) upgraded to Strong Buy from Outperform at Raymond James... Voyager Therapeutics (VYGR) upgraded to Neutral from Sell at Chardan... Yahoo (YHOO) upgraded to Buy from Hold at Pivotal Research.

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DJ Transportation Average

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IYT

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XLK

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XLE

Energy Select Sector SPDR

$64.38

0.43 (0.67%)

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XLY

Consumer Discretionary Sector SPDR

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-0.11 (-0.12%)

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XLB

S&P Select Materials SPDR

$53.85

0.21 (0.39%)

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XLU

Utilities SPDR

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GOOD

Gladstone

$21.66

0.21 (0.98%)

, JEC

Jacobs Engineering

$52.81

0.15 (0.28%)

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JEC

Jacobs Engineering

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0.15 (0.28%)

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XLP

Consumer Staples Sector SPDR

$55.49

0.02 (0.04%)

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XLV

Health Care Select Sector SPDR

$80.47

-0.12 (-0.15%)

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IWM

iShares Trust Russell 2000 Index Fund

$140.91

0.93 (0.66%)

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DIA

Diamonds Fund ETF

$213.74

0.01 (0.00%)

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SPY

SPDR S&P 500 ETF Trust

$243.13

0.29 (0.12%)

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IDXG

Interpace Diagnostics

$0.88

0.03 (3.53%)

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XLF

Financial Select Sector

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QQQ

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$COMP

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NDX

Nasdaq 100 Index

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