Two IBD 50 Chip Stocks Get Price-Target Hikes; Intel Downgraded

Wall Street analysts on Monday raised their price targets on a bunch of top-performing chip stocks, including Nvidia (NVDA) and Microchip Technology (MCHP). XAutoplay: On | OffNvidia and Microchip are both on the IBD 50 list of top-performing growth stocks. The list currently includes three chipmakers and three semiconductor capital equipment suppliers. Needham reiterated its buy rating on graphics-chip maker Nvidia and raised its price target to 200 from 130. Jefferies maintained its buy rating on Nvidia and upped its price target to 180 from 140. Mizuho Securities kept its neutral rating on Microchip, but increased its price target to 82 from 80. Nvidia was up 1.7%, near 149.25, in morning trading on the stock market today. Microchip was down 0.3%, near 78.15. IBD’S TAKE: For the latest news on chip stocks, visit IBD’s news page Chip Stocks To Watch And Semiconductor Industry News. Needham analyst Rajvindra Gill increased his price target on Nvidia stock on expectations that the company’s recent deal with Toyota Motor (TM) will generate “meaningful revenue over the next 24 months.” Toyota is using Nvidia chip sets for advanced driver assistance systems and eventually self-driving cars. Gill estimates that the Toyota deal could generate an incremental $1 billion…

Link to Full Article: Two IBD 50 Chip Stocks Get Price-Target Hikes; Intel Downgraded

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