JPMorgan analyst Gokul Hariharan downgraded MediaTek to Neutral from Overweight with a NT$750 price target. The firm is taking profits with the stock up 39% since the end of October, citing its belief that the smartphone system-on-a-chip market recovery seems weak and that price competition is intensifying into the second half.
Claim 50% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on MDTKF: