Shares of Anadigics Inc. fell Wednesday after the maker of chips for cable television and wireless communication was downgraded to "Perform" from "Outperform" by Oppenheimer analyst George Iwanyc.
Iwanyc said the company's share price already factors in several positive elements.
He predicted positive trends will continue at Samsung and other electronics manufacturers with the next generation of cell phones to be the main sales driver.
"This creates a favorable environment and the potential for further earnings per share upside if management delivers on gross margin goals," he said.
Shares of Warren, N.J.-based Anadigics fell 39 cents, or 3.2 percent, to $11.63. They have traded in the last year between $5.85 and $19.53.
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