BofA Merrill downgrades eight chip stocks, noting inventory levels will soon overshoot demand,...

|By:, SA News Editor

BofA Merrill downgrades eight chip stocks, noting inventory levels will soon overshoot demand, increasing the risk of a supply chain correction. Downgraded to Neutral: Intel (INTC -5.5%), LSI Logic (LSI -3.9%), Marvell Tech (MRVL -6.6%) and TI (TXN -3.6%). Cut to Underperform: Microchip Tech (MCHP -5.1%), Maxim Integrated (MXIM -5.3%), National Semi (NSM -6%) and Power Integrations (POWI -4.1%).