AMD, Lam, Qualcomm, Other Chipmaker Targets Lifted at Mizuho

Mizuho is bullish on the chip sector and raised its price targets on a number of prominent names.
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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."