BofA Analyst Cuts Price Target for AMD, Re-rates Semiconductor Companies, Expects Long-Term Stock Momentum For Sector
Portfolio Pulse from Anusuya Lahiri
BofA analyst Vivek Arya has made several changes to his ratings and price targets for semiconductor companies. He upgraded Camtek Ltd (CAMT) to Buy and raised the price target to $50 from $30. He downgraded Coherent Corp (COHR) and MACOM Technology Solutions Holdings, Inc (MTSI) to Neutral, raising their price targets to $55 and $72 respectively. Lumentum Holdings Inc (LITE) was downgraded to Underperform with a price target of $50. Arya also raised price targets for Nvidia Corp (NVDA), Marvell Technology, Inc (MRVL), and ON Semiconductor Corp (ON). However, he reduced Advanced Micro Devices, Inc's (AMD) price target to $130 from $135.
July 18, 2023 | 8:00 pm
News sentiment analysis
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NEGATIVE IMPACT
The price target for Advanced Micro Devices, Inc was reduced to $130 from $135.
The reduced price target for AMD is likely to have a negative impact on its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Coherent Corp was downgraded to Neutral and its price target was raised to $55 from $42.
The downgrade for COHR is likely to have a negative impact on its stock price in the short term, despite the raised price target.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Lumentum Holdings Inc was downgraded to Underperform with a price target of $50.
The downgrade for LITE is likely to have a negative impact on its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
MACOM Technology Solutions Holdings, Inc was downgraded to Neutral and its price target was raised to $72 from $64.
The downgrade for MTSI is likely to have a negative impact on its stock price in the short term, despite the raised price target.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Camtek Ltd was upgraded to Buy and its price target was raised to $50 from $30.
The upgrade and price target raise for CAMT is likely to have a positive impact on its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
The price target for Marvell Technology, Inc was raised to $80 from $75.
The raised price target for MRVL is likely to have a positive impact on its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
The price target for Nvidia Corp was raised to $550 from $500.
The raised price target for NVDA is likely to have a positive impact on its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
The price target for ON Semiconductor Corp was raised to $120 from $110.
The raised price target for ON is likely to have a positive impact on its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100