Analyst Downgrades: Qualcomm, Texas Instruments

Analysts downwardly revised their ratings on QUALCOMM, Inc. (NASDAQ:QCOM), Texas Instruments Incorporated (NASDAQ:TXN), and Keryx Biopharmaceuticals (NASDAQ:KERX)

Jul 23, 2015 at 9:54 AM
facebook X logo linkedin


Analysts are weighing in on chipmakers QUALCOMM, Inc. (NASDAQ:QCOM) and Texas Instruments Incorporated (NASDAQ:TXN), as well as kidney disease specialist Keryx Biopharmaceuticals (NASDAQ:KERX). Here's a quick roundup of today's bearish brokerage notes on QCOM, TXN, and KERX.

  • It's been a rough ride for QCOM in 2015, down 16% at $62.40. To the delight of option traders, the equity is extending this negative price action today -- off 2.7% -- after the firm offered up a weak current-quarter forecast, and confirmed plans to explore cost-cutting measures. Also pressuring the shares is a bevy of price-target cuts, including ones from Susquehanna (to $60) and Topeka Capital (to $65). Should QUALCOMM, Inc. continue its downward trajectory, another round of bearish brokerage notes could be on the horizon. More than half of those following the shares currently maintain a "buy" or better rating, while the average 12-month price target of $74 stands at an 18.6% premium to QCOM's present price.

  • TXN also provided a lackluster third-quarter forecast, due to a "generally softer market," prompting a number of brokerage firms to downwardly revise their price targets. Included in the bunch were Baird and Deutsche Bank, which reduced their target prices to $49, and Morgan Stanley, which lowered its price target by $4 to $46. However, the stock is up 1.3% at the open to trade at $49.95 -- and pare its year-to-date deficit to 6.5%. In the options pits, short-term speculators have been more put-heavy than usual toward Texas Instruments Incorporated. Specifically, the equity's Schaeffer's put/call open interest ratio (SOIR) of 2.22 ranks in the 65th annual percentile.

  • KERX tumbled to a new annual low of $8.69 out of the gate -- and was last seen 3.9% lower at $9.17 -- after Cowen and Company cut its rating to "market perform" from "outperform." Heading into today's session, the stock had already shed about a third of its value in 2015, and short sellers have been gambling on even steeper losses. In fact, short interest surged 11.9% in the last two reporting periods, and now accounts for more than 40% of Keryx Biopharmaceuticals' available float.
Want an even earlier advantage on the biggest news before the bell? Sign up now to get Schaeffer's Opening View delivered straight to your inbox!
 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI