Analyst Actions: Intel, Texas Instruments, RF Micro Devices, Gap - TheStreet

Analyst Actions: Intel, Texas Instruments, RF Micro Devices, Gap

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Intel

(INTC) - Get Report

was raised to outperform from hold at

ABN Amro

, giving some good news to a company whose stock has been crushed lately.

But not everyone is convinced. The folks at

Credit Suisse First Boston

downgraded Intel to buy from strong buy.

Merrill Lynch

upped its fourth-quarter earnings per share estimate to 43 cents a share, up a penny from its previous estimate, but said that its was concerned about 2001. With that in mind, it cut Intel to long-term accumulate from long-term buy.

Since hitting a 52-week high of $75.81 on Aug. 28, less than two months ago, Intel has lost more than half its value and closed Tuesday in New York nearly $40 lower than that mark, closing at $36.19. Fears of a slowdown in the semiconductor industry, concerns that Intel is hemorrhaging market share and a

nasty warning from Intel have all combined to torpedo the stock's value.

Today looks like a mixed bag. On one hand, ABN Amro said its confidence in Intel rose after hearing a conference call about the company's

third-quarter earnings, which came in at 41 cents a share, exceeding reduced estimates by three cents a share. On the other, Intel is down nearly 10.1% this month.

Texas Instruments

(TXN) - Get Report

, which is set to release earnings after the bell this evening, was downgraded to neutral at

Lehman Brothers

. The company didn't adjust its 2000 or 2001 earnings per share outlook, at least not yet, but did say that the will "most likely need to be lowered."

Upgrades

Caliper Technologies

(CALP)

: UP to strong buy from buy at CSFB.

Dover

(DOV) - Get Report

: UP to strong buy from buy at CSFB.

Gap

(GPS) - Get Report

: UP to near-term buy from near-term neutral at Merrill.

Downgrades

Amkor Tecnhology

(AMKR) - Get Report

: DOWN to buy from strong buy at CSFB.

Electric Scientific Industries

(ESIO) - Get Report

: DOWN to buy from strong buy at CSFB.

RF Micro Devices

(RFMD)

: DOWN to buy from strong buy at CSFB.

Group Moves

UBS Warburg

initiated coverage on a collection of retailers, all with a hold rating: