Analyst Downgrades: QUALCOMM, EZchip, and Keurig

Analysts downwardly revised their ratings on QUALCOMM, Inc. (NASDAQ:QCOM), EZchip Semiconductor Ltd (NASDAQ:EZCH), and Keurig Green Mountain Inc (NASDAQ:GMCR)

Oct 1, 2015 at 9:58 AM
facebook X logo linkedin


Analysts are weighing in on chipmakers QUALCOMM, Inc. (NASDAQ:QCOM) and EZchip Semiconductor Ltd (NASDAQ:EZCH), as well as coffee maven Keurig Green Mountain Inc (NASDAQ:GMCR). Here's a quick roundup of today's bearish brokerage notes on QCOM, EZCH, and GMCR.

  • QCOM is 0.1% lower at $53.66 this morning, after Bernstein cut its price target to $60 from $68. This likely pleases the recent batch of bearish traders in the stock's options pits. By the numbers, QUALCOMM, Inc.'s 10-day International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) put/call volume ratio comes in at 0.76 -- higher than three-fourths of all readings from the past year. Said simply, put buying has been more popular than normal of late. And it's no wonder: QCOM has given back 27.8% in 2015. 

  • EZCH is off 0.2% in early trading at $25.10, as the Street responds bearishly to the company's recent M&A news. Specifically, Brean Capital and Benchmark each cut the stock's rating to "hold" from "buy," though the latter raised its price target to $25.50 from $25. This downbeat feedback comes even as the stock has been strong on the charts, outperforming the S&P 500 Index (SPX) by nearly 68 percentage points during the past three months, and hitting an annual high of $25.21 yesterday. Short interest is still elevated, though, with bears controlling more than seven days' worth of buying power, going by EZchip Semiconductor Ltd's average pace of trading. 

  • GMCR has had an awful time on the charts lately, down over 60% year-to-date as of Wednesday's close. This downtrend is continuing today, with the shares 1.6% lower at $51.41, after Wedbush cut its price target to $60 from $67. Wall Street is mostly bearish on the underperformer, with 14 of 16 covering analysts saying the security is a "hold" or worse. What's more, short interest on Keurig Green Mountain Inc jumped by 16.6% during the most recent reporting period, and now accounts for 11.8% of its float. Additional losses could be in store for the shares, if analysts and traders continue to bet against them. 

Get the skinny on all the biggest stories of the morning… Sign up now to get Schaeffer's Midday Market Check delivered straight to your inbox!

 

Unlock Weekend Profits with Chris Prybal's Favorite Strategy Up +487.5% in 2024

With the markets going left, right, and sideways, you need to have a plan now more than ever. 

Expert Trader Chris Prybal is no stranger to volatility, and has mastered finding big stock rallies while other traders aren't looking over the weekend. Rallies that produced gains like +207% on RTX calls, +236% on MARA calls, and +238% on NET calls.

A few simple moves on Sunday at 7pm could be the “Secret Sauce” your portfolio needs to not just stay afloat, but make unprecedented gains in this turbulent market.


Don’t sit on the sidelines, beat the market with Chris Prybal's strategy. Join him now!

 

 
 
 


 
 

Rainmaker Ads CGI