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Six Downgrades Sock Stocks in the SOX

Risky Level: The price at which to enter a GTC limit order to sell on strength.

Applied Materials (AMAT) ($11.34 vs. $11.35 on Sept. 25): AMAT still has a hold rating, is 19.4% undervalued with a 12 month trailing P/E at 16.2. My weekly value level is $10.61 with a quarterly risky level at $12.76. Note that Wednesday's close was just above the 200-day SMA at $11.27.

Advanced Micro Devices (AMD - Get Report) ($2.52 vs. $3.46 on Sept. 25): AMD has been downgraded to hold since the Sept. 25 post and is 47.2% undervalued. My weekly value level is $2.12 with a semiannual risky level at $4.76. AMD has been below its 200-day SMA at $4.81 since May 30.

Avago Technologies (AVGO) ($31.99 vs. $34.60 on Sept. 25): AVGO has been downgraded to hold since the Sept. 25 post, is 9.9% undervalued and has a 12 month trailing P/E at 12.2. My monthly value level is $31.03 with a semiannual pivot at $32.88 and weekly risky level at $33.12. The stock broke below the 200-day SMA at $34.70 on Dec 13.

Cirrus Logic (CRUS) ($28.37 vs. $40.18 on Sept. 25): CRUS has been downgraded to hold since the Sept 25 post, is 36.7% undervalued and has a 12 month trailing P/E at 12.8. My semiannual value level is $24.94 with a quarterly risky level at $29.70. The stock broke below the 200-day SMA at $31.22 on Dec. 4, but is up 91.3% over the last 12 months.

Intel (INTC - Get Report) ($21.10): INTC is the only buy-rated stock in the SOX, is 8.7% undervalued and has a 12 month trailing P/E at 9.6. My weekly value level is $19.96 with a semiannual pivot at $21.14 and quarterly risky level at $27.25. The stock broke below the 200-day SMA at $24.83 on Aug. 21.

KLA-Tencor (KLAC) ($47.92 vs. $47.13 on Sept. 25): KLAC has been downgraded to hold since the Sept. 25 post, is 3.4% overvalued and has a 12 month trailing P/E at 11.4. My semiannual value level is $34.17 with a weekly pivot at $47.15 and annual risky level at $52.89. The stock broke below the 200-day SMA at $49.10 on Sept. 19.
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SYM TRADE IT LAST %CHG
SOXX $87.98 -0.67%
AMD $1.96 1.60%
INTC $28.86 -0.17%
NVDA $19.92 -0.50%
TXN $50.16 -0.16%

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Chart of I:DJI
DOW 17,763.85 +17.87 0.10%
S&P 500 2,112.40 +3.77 0.18%
NASDAQ 5,147.5530 +18.7680 0.37%

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