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Semiconductor Showdown: AMD, ADI, TXN, ONNN, MXIM

NEW YORK (TheStreet) -- It's been a year of ups and downs for shares of the semiconductor industry as disappointing fourth-quarter guidance curtailed a strong run-up mid-year. As the industry becomes increasingly crowded, which circuit makers come out on top and which are set to drop?

MKM Partners has revised its ratings on the semiconductor industry in a research report Monday, explaining:

"Our view on semiconductor end-markets continues to be most positive on data center exposure (a multi-year secular growth trend) followed by communications (on a growth trajectory despite lumpiness). Other end-markets face continued challenges, with little visibility on the timing of a material recovery."

For analog semiconductors Texas Instruments (TXN - Get Report) and Analog Devices (ADI - Get Report), MKM maintains its "neutral" rating with a price target of $41 and $33, respectively, on the view the companies operate in a "low-single-digit grow market".

For Advanced Micro Devices (AMD - Get Report), MKM holds a "neutral" rating and a price target of $3, as its PC and CPU strength is threatened by Intel's (INTC) manufacturing dominance.

MKM holds a more positive view of Maxim Integrated Products (MXIM - Get Report), upgrading the stock to a "buy" with a price target of $35, as the company is well-positioned in the smartphone and data center spaces.

Formerly "buy"-rated, ON Semiconductor Corporation (ONNN - Get Report) has been downgraded to "neutral" with an $8 price target, as its "highly diversified and manufacturing-heavy" model relies heavily on a global macroeconomic recovery.

By mid-morning, Analog Devices had shed 0.22% to $50.58, Texas Instruments remained flat, Advanced Micro Devices climbed 0.43% to $3.52, Maxim was up 0.6% to $29.36 and ON Semiconductor plummeted 1.4% to $7.

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ADI $63.01 -2.80%
AMD $2.68 -0.74%
MXIM $34.81 -0.47%
ONNN $12.10 -0.25%
TXN $57.19 -1.40%


DOW 17,776.12 -200.19 -1.11%
S&P 500 2,067.89 -18.35 -0.88%
NASDAQ 4,900.8850 -46.5560 -0.94%

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