Monty Lexian
Semiconductor stocks started the week largely green as the sector awaits quarterly results from industry heavyweight Nvidia.NASDAQ: NVDA), expected to be released Thursday.
Applied Materials Corporation (NASDAQ: AMAT) Increased by more than 4% After research Argus raised its price target on the semiconductor equipment maker. Analyst James Kelleher raised his price target to $260 from $230 as he was impressed with the company’s fiscal second-quarter results and guidance. Posted last week.
Teradyne (NASDAQ: TER) increase by more than 5% Goldman Sachs upgraded the chip equipment maker to “buy” from neutral, citing a cyclical recovery in system-on-a-chip testing and robotics, driven by high-bandwidth memory and custom computing testing.
Other semiconductor equipment companies such as KLA Corp. (KLAC), Lam Research (LRCX) and ASML (ASML) were also higher on Monday.
Micron (NASDAQ:MU) share Increased by more than 3.5% On Monday, Morgan Stanley upgraded the memory maker’s investment rating in artificial intelligence.
Analyst Joseph Moore and his team said in a research note: “Remaining negative on Micron Technology for the long term is a mistake. We are still not optimistic, but we should foresee a decline in the strength of artificial intelligence specialty memory.” Fundamental and narrative implications.
Nvidia up 2.7% Several Wall Street firms raised their price targets ahead of this week’s quarterly results.
Barclays analyst Blayne Curtis said a recent survey of its data center unit pointed to potential growth of 10% in the April quarter and slightly higher in the July quarter as more capacity comes online. higher than 20%. Curtis has an “overweight” rating on Nvidia and raised his price target to $1,100 from $850.
Stifel analyst Ruben Roy also raised his price target for Nvidia (from $910 to $1,085), citing “strong demand” for its GPUs.
Analyst consensus expects Nvidia to report revenue of $5.56 per share in the next quarter, on revenue of $24.47B.
Competitors AMD (AMD) and Intel (INTC) are Up 2% and 1%respectively.
Qualcomm (QCOM) up 2.5% Ahead of Microsoft’s (MSFT) Surface event. Microsoft, led by Satya Nadella, is expected to showcase new artificial intelligence Surface laptops and tablets powered by Qualcomm products.
Most other S&P 500 semiconductor stocks were higher on Monday, including Analog Devices (ADI), where Stifel raised its price target. Other companies including Texas Instruments (TXN), ON Semiconductor (ON), NXP Semiconductors (NXPI) and Monolithic Power Systems (MPWR) also posted gains.
