Deutsche Bank Downgrades Semiconductor HOLDRs to Neutral (SMH)
Semiconductor HOLDRs (NYSE:SMH) was downgraded by Deutsche Bank from an “overweight” rating to a “neutral” rating in a research note issued on Wednesday, AmericanBankingNews.com reports. The analysts noted that the move was a valuation call.
Shares of Semiconductor HOLDRs (NYSE:SMH) traded down 0.84% on Wednesday, hitting $41.09. The stock had a trading volume of 755,021 shares. Semiconductor HOLDRs has a 52-week low of $31.58 and a 52-week high of $42.00. The stock has a 50-day moving average of $40.98 and a 200-day moving average of $39.35.
Separately, analysts at Wells Fargo & Co. downgraded shares of Semiconductor HOLDRs from an “overweight” rating to a “market weight” rating in a research note to investors on Friday, October 18th.
The Semiconductor HOLDRS Trust issues depositary receipts called Semiconductor HOLDRS, representing an undivided beneficial ownership in the United States-traded common stock of companies that develop, manufacture and market integrated circuitry and other products known as semiconductors, which allow for speed and functionality in components used in computers and other electronic devices.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.