Notable Upgrades and Downgrades in Technology


In the last week, analyst posted rating upgrades on three notable technology stocks: WDC Upgrade (NASDAQ:WDC), Skyworks (NASDAQ:SKWS), and Corning (NYSE:GLW). When Wall Street draws more attention to stocks, it gives investors a good starting point for further research.

Western Digital pays a decent dividend of around 4.5% and trades at a low price-to-earnings ratio. The company hired a new CEO, David Goeckeler, in early-March. Hiring an executive without prior industry experience may scare investors. But WDC has deep expertise in designing and manufacturing persistent memory products.

Skyworks cut its Q2/FY20 outlook, citing the impact of the COVID-19 outbreak on its business. The demand environment is currently hurting the business. Still, an EPS estimate of $1.34 is only down slightly from the prior midpoint of $1.46.

Corning is in a prolonged downtrend that began nearly a year ago. The stock increased its dividend by 10% but, investors, give it little respect. The company has a good track record, a great set of products and a strong management team. Though the stock is stock in a trading range over the last few years, the up and down cycle is shrinking. This suggests that bottom approaches.

Corning’s management is focused on returning capital to shareholders. The market will eventually notice and the stock will trend higher.