MIDF Research downgrades Semiconductor sector to Neutral

MIDF Research downgrades Semiconductor sector to Neutral
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KUALA LUMPUR (May 6): MIDF Research has downgraded the semiconductor sector to “Neutral” (from positive) and said there was no reprieve on global semiconductor sales throughout 1Q16.

In a note today, the research house said higher bookings in March 2016 boosted the book-to-bill ratio to 1.15x.

“Local export of semiconductor products contracted in March 2016

“1Q16 shipment of smartphones grew at the slowest pace. Downgrade to Neutral from positive,” it said.