Already -30% in three months: BE Semiconductor stock plunges 6%, BofA downgrades
The Dutch chipmaking equipment manufacturer is suffering a heavy selling session, as two brokers have just revised their targets. The decline is occurring in a barely moved European market.
A 6% decline that places the price below all its moving averages
The BE Semiconductor share falls 6.01% to €180.50 during the session, compared to €192.05 the day before. Over one week, the loss reaches 6.23%, and the security has lost 30.07% over three months. The price now stands below the MA20 (€188.17, gap of -4.08%), the MA50 (€200.48, gap of -9.97%) and the MA200 (€213.38, gap of -15.41%).
It remains approximately 2.5% from its support at €175.95, already mentioned during the previous decline session. The RSI at 50 is neutral: today's decline has not yet pushed the indicator into oversold territory.
Two brokers revise their price target, with BofA notably downgrading
BofA Securities lowered its target yesterday from €401 to €212 and revised its analyst rating from buy to hold. Barclays, for its part, brought its target down from €250 to €240, with a market weight rating. Both targets remain above the current price, by 17% for BofA and 33% for Barclays.
According to the consensus of analysts tracked, the stock is trading at 41 times the expected earnings for the current fiscal year and 27.4 times those for the following fiscal year. The Fed, for its part, mentioned yesterday the risk of a semiconductor shortage linked to artificial intelligence demand. The next technical level to watch is the support at €175.95.
