Semis roll on.Several local semiconductor stocks were taking part in a nationwide run-up in chip shares last week, driven by the expectation that an improving worldwide economy will spur profit gains later in the year. On Aug. 27, El Segundo-based International Rectifier International Rectifier Corp. (NYSE: IRF) is a manufacturer of power semiconductors (MOSFET, IGBT, diodes and thyristors), located in El Segundo, California, USA. It has a market capitalization of 2.48 billion USD and is listed on the S&P Midcap 400. Corp. gained $1.80 to close at $40.10 after its stock was upgraded from neutral to outperform Outperform An analyst recommendation meaning a stock is expected to do slightly better than the market return. Notes: Exact definitions vary by brokerage, but in general this rating is better than neutral and worse than buy or strong buy. by investment firm Harris Nesbitt Gerard. Camarillo-based semiconductor manufacturer Semtech Corp. jumped $3.21 to close at $21.65 on Aug. 27 after it beat earnings estimates by one penny per share. The day before, Westlake Village-based Diodes Inc. got a boost when Deloitte & Touche had named it one of the Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. area's 50 fastest growing technology companies. Diodes shares have more than doubled this year, to $20.80 as of Aug. 27. The local action mirrored recent gains in some of the largest chip-sector stocks. Intel Corp. shares have gained more than 80 percent year to date to close at $28.02 on Aug. 27. Santa Clara-based National Semiconductor Corp. gained $1.57 to close at $2834 on Aug. 27 after investment bank Lehman Brothers Lehman Brothers Holdings Inc. (NYSE: LEH), founded in 1850, is a diversified, global financial services firm. It is a participant in investment banking, equity and fixed income sales, research and trading, investment management, private equity, and private banking. upgraded its stock from underweight Underweight An situation where a portfolio does not hold a sufficient amount of securities to satisfy the accepted benchmark of the portfolio's asset allocation strategy. Notes: to equal-weight. |
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