Chipmaker stocks got a boost this morning, after analysts at Mizuho Securities raised their price targets on a few top names. The firm is bullish on the industry thanks to “strong year over year momentum and tailwinds from a supportive fundamental and macroeconomic backdrop,” they said, as quoted by The Street.
Some of the top chipmakers with raised targets including Advanced Micro Devices (AMD). The firm raised its target to $102 a share from $93 with a buy rating. This is also a stock we’ve highlighted a few times as a solid opportunity.
Not only is the company still chipping away at competitor market share, its CEO remains bullish. In fact, CEO Lisa Su said she expects to see more growth in the PC market and a better than expected first quarter in 2021.
“I think we see 2021 as a growth year for PCs, which perhaps we haven’t heard in a while,” Su said, as quoted by MarketWatch. “And more importantly, I think the product portfolio that we have is sort of very focused on some of these higher and feature sets as well, that we think will play well for our long-term share gain prospects.”
Other chipmaker stocks with raised targets include Applied Materials (AMAT), which now has a target of $96 from $82 with a buy rating. Broadcom (AVGO) was also raised to $480 from $460 with a buy rating. Lam Research (LCRX) also has a buy rating with a target price of $530.