Bank of America Provides Color on Semiconductors Sector

Bank of America provided color on the U.S. semiconductors sector. In a research report published today, Bank of America states, "While weakening macro data points (slowing IP momentum, weaker outlook for US GDP growth, Euro sovereign debt crisis, oil prices) could temper momentum in the near-term, we remain positive on the long-term growth opportunity for the analog sector – we maintain our Buy ratings on TI (TXN, US$32.9, B-1-7), Analog Devices (ADI, US$38.4, C-1-7), and NXP Semiconductor (NXPI, US$25.1, C-1-9)." On Thursday, Texas Instruments TXN added 0.73% to its value to close the day at $32.91. Its shares rose slightly in today's pre-market trading as well, edging 0.03% higher to $32.92. Analog Devices ADI lost 0.26% of its value on Thursday to end the day at $38.44. The worst performer on Thursday was NXP Semiconductor, however, after the company's stock fell 1.32% to $25.12. Its shares continues to slide in today's pre-market trading, falling 0.72% to $24.94.