He sees a phenomenal company.  They are earning a good rate of return while putting money back in the company.  ROE is 27%.  The valuation looks reasonable. 

Semiconductors is a very clear leader in this market, but we are in the kind of market where there are a lot of stocks that are doing well and a lot of stocks that are doing poorly. He likes that this company is selling into hand works and automotive, because both are growing. As a replacement, he would use Broadcom (AVGO-Q). (See Top Picks.)

It always traded at a high valuation.  It allows one chip on one phone that works anywhere in the world.  Their sales are growing despite declining smart phone sales.  He targets 30% upside.

This stock got up to one of his critical break points and got there at the same time as it reached its FMV of about $104. The setback has offered a chance to Buy the stock, and if you are looking at it he would give it a target of $66 where we could have a pretty nice recovery.

The stock has done phenomenally well. They provide chips, mainly on the mobile side. Not only cell phones but, also in the Internet of everything, they are into cities, machines, cars, being connected to 4G. Part of why they have done so well is that when you ask more of performance in speed, storage, cameras and you still want to limit the size, you are asking these chips to do a lot more with a lot less. The company has the ability to combine different functionalities in a smaller space, which is why they have done so well. The stock may have gotten a bit ahead of itself. This is in the semiconductor space, which is very cyclical, so watch for any commentary on pricing pressure or overcapacity in the market. That is when you want to get out.