Barclays, UBS and Other Analysts Bullish on Semiconductor StocksSemiconductor stocks have pulled back sharply as investors remain concerned about tapering demand and a pullback in capital expenditure. Despite the recent pullback, American investors have remained bullish on semiconductor stocks. Data from ETFdb shows that the SOXX has attracted more than $5.1 billion in inflows over the past 30 days and $12 billion over the last six months. Meanwhile, the SMH has recorded inflows of $2.03 billion and $6.36 billion over the same periods, respectively.In recent notes, analysts at UBS and Barclays said that they expect that semiconductor stocks will bounce back. In a note, a UBS analyst said that he expect their earnings growth will continue. It expects an earnings growth of 92% this year and 40% next year. The analyst added that:
"Demand for compute continues to exceed available supply, while capacity constraints along the supply chain are unlikely to ease quickly."
A Barclays analyst also maintained a bullish outlook, noting that there were no signs of panic in the semiconductor industry. The analyst noted that:
"The selling [is] more passive and not aggressive, and it seems more like trimming of positions rather than investors trying to leave the space."
