Sector movers: Broker upgrades have chip stocks sizzling

16th Apr 2010 10:51

Positive broker coverage has given chipmakers a lift, boosting the technology hardware & equipment sector.Shares in CSR, which specialises in chips used for wireless communications, move up after an upgrade to 'buy' from 'neutral' in expectation that big customers such as the mobile phone groups Samsung and Nokia. Fellow chipmaker ARM is higher after Goldman Sachs raised its target price on the company to 250p from 230p, saying the emergence of Apple's iPad device bodes well for the company.Elsewhere in the world of telecommunications-related tech stocks, Filtronic falls back. Customers have been slow to start spending again following the downturn and the company, which makes microwave electronics products for the wireless telecoms market, expects to make a small operating loss for the full year as a result, it said today.Software & computer services stocks are led lower by Autonomy. The Cambridge-based enterprise software giant said its first quarter results should be in line with the market's expectations. Top performing sectors so far todayAutomobiles & Parts 3,469.69 +4.80%Technology Hardware & Equipment 437.31 +1.57%Fixed Line Telecommunications 1,966.95 +0.75%Health Care Equipment & Services 3,830.25 +0.72%Industrial Transportation 2,493.87 +0.66%Bottom performing sectors so far todaySoftware & Computer Services 678.25 -2.06%Mining 24,560.73 -0.94%Alternative Energy 6,531.05 -0.86%Food & Drug Retailers 4,972.21 -0.67%Mobile Telecommunications 3,519.22 -0.42%