rating got a little more micro this morning. The chipmaker was cut by a pair of analysts as the whole semiconductor sector continued to struggle.
cut the company's rating to attractive from buy and its price target to $50 from $110, while
Morgan Stanley Dean Witter
cut it to outperform from strong buy.
The analyst actions come on the heels of recent comments about the semiconductor industry, especially in the wake of the
downgrade. Some analysts, such as
, which lowered price expectations on
DRAM chips, fear a price war between chipmakers.
DRAM is something of a silicon-based commodity, and one that ripples heavily through the computer manufacturing industry. With Intel cutting the price of that chip recently, many analysts fear that a widespread slashing of other chips, too, which would hurt future earnings.
: UP at
: 2000 earnings per share to $1.84 from $1.50, 2001 earnings per share to $2.37 from $1.92, price target: $109.
: UP at UBS Warburg: price target: $175 from $108.
: UP to outperform from hold at ABN Amro.
: DOWN at
Credit Suisse First Boston
: 2001 earnings per share estimate at $3.25 from $3.75; price target to $75 from $112.