Technology

Three Analyst Tech Stocks to Sell: BlackBerry, NetApp, Himax

Historically, most investors have loved the technology sector. This sector has been one of the most exciting fields of our generation. Riches have been made by technology experts and technology investors alike. Riches also have been lost chasing fads or due to market conditions. So what happens when Wall Street analysts tell you to sell certain tech stocks?

This last week brought three analyst Sell ratings that stood out the most to us. Investors often get to hear about new Buy ratings from analysts, but rarely do they hear when to sell a stock. These were the three tech stocks to sell from Wall Street analysts this past week that stood out the most.

BlackBerry Ltd. (NASDAQ: BBRY) was downgraded to Sell from Hold with a $6 price target at Societe Generale, just a day ahead of earnings. Unfortunately, at least for this firm, BlackBerry did not sell off on earnings. Shares were up more than 3% early Friday on strong trading volume, before dropping into the red by mid-day. Maybe John Chen’s plan of going fab-lite and getting design help will make BlackBerry viable after all. Ditto for its land sale.

NetApp Inc. (NASDAQ: NTAP) recently telegraphed more of the death of growth with its layoffs, and Morgan Stanley turned from a bull to a bear. It wants to avoid a value trap. The storage player was downgraded to Underweight all the way from Overweight last Monday, and the price target was put at $31. The stock fell from $37.80 from the prior Friday to $36.58 on Monday’s downgrade, and shares were stuck around $36.60 in the middle of the trading day on Friday.

Himax Technologies Inc. (NASDAQ: HIMX) was downgraded to Underperform all the way from Buy, and the price target was slashed almost 30% to $12.50 (versus a $13.38 close), at Bank of America Merrill Lynch. This downgrade on Wednesday knocked shares down under $12, even if the stock tried recovering on Friday. The consensus price target for Himax is up above $15.

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