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Analyst Spooks Investors in Two Semiconductor Stocks

Could M&A make up for China’s slowing economy in the semiconductor industry? Not in the opinion of Ian Ing. The potential for further consolidation was not enough for the MKM Partners’s analyst to maintain buy ratings on several several semiconductor stocks.

Mr. Ing said he has grown more concerned in the past month about the impact China’s economic downturn will have on the industry. He predicted Friday that demand from China will continue to fall and hurt world-wide demand for chips.

On Friday, in a research note, Mr. Ing downgraded two semiconductor companies — Semtech Corp. and Silicon Laboratories Inc. — to neutral from a buy and lowered his price targets and...


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