Chipmakers got a boost as Mizuho Securities raised price targets for more than a couple dozen semiconductor companies.
The firm is forecasting bullish trends for the industry in 2021, including "strong year-over-year momentum and tailwinds from a supportive fundamental and macroeconomic backdrop," according to analyst Vijay Rakesh.
Advanced Micro Devices (AMD) - Get Report saw its price target raised to $102 a share from $93 with a buy rating. AMD shares at last check gained 1%.
Applied Materials (AMAT) - Get Report shares were given a $96 price target, up from $82, with a buy rating. AMAT was up 1.1%.
Mizuho lifted its Broadcom (AVGO) - Get Report target to $480 from $460 with a buy rating. Broadcom shares tacked on 1%.
Lam Research (LCRX) is a buy. The stock added 1.2% after its price target was raised to $530 from $410.
Micron Technology (MU) - Get Report moved up 2% after Rakesh lifted his price target to $85 from $75 with a buy rating.
Qualcomm (QCOM) - Get Report was raised to $163 from $154 with a buy rating. The shares were 1.4% ahead.
Western Digital (WDC) - Get Report shares were up 1.3% after its price target moved up to $59 from $57. It's a buy at Mizuho.
TheStreet's David Dierking recently listed his top five semiconductor ETFS for 2021.
"Despite disruptions related to the covid pandemic, semiconductor sales were up more than 5% this year. They're also forecast to increase another 8% in 2021," Dierking reported.
"If the covid vaccine does what we hope it will and it ushers in a global economic recovery, the tech sector (and semiconductors specifically) could be poised to lead the market again."
The Link LonkDecember 28, 2020 at 09:22PM
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AMD, Lam, Qualcomm, Other Chipmaker Targets Lifted at Mizuho - TheStreet
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