Analyst Upgrades: NVIDIA Corporation, NXP Semiconductors N.V., and Chesapeake Energy Corporation

Analysts upwardly revised their ratings on NVIDIA Corporation (NVDA), NXP Semiconductors NV (NXPI), and Chesapeake Energy Corporation (CHK)

by Karee Venema

Published on Jan 12, 2015 at 9:52 AM
Updated on Apr 20, 2015 at 5:32 PM

Analysts are weighing in today on chipmakers NVIDIA Corporation (NASDAQ:NVDA) and NXP Semiconductors NV (NASDAQ:NXPI), as well as oil-and-gas issue Chesapeake Energy Corporation (NYSE:CHK). Here's a quick roundup of today's bullish brokerage notes on NVDA, NXPI, and CHK.

  • FBR upped its price target for NVDA to $22 from $20 -- and underscored its "market perform" rating -- representing expected upside of 11.3% to the stock's present perch at $19.77. This bullish positioning isn't surprising, considering NVDA has rallied nearly 29% over the past 52 weeks, and hit a three-year peak of $21.25 in early December. In light of this, NVIDIA Corporation could be due for an additional round of bullish brokerage notes -- or an unwinding of skepticism in the options pits. At present, more than 65% of analysts covering the shares maintain a "hold" or worse rating, while the average 12-month price target of $21.39 sits just 8.2% above the stock's current price.

  • FBR also weighed in on NXPI, boosting its price target by $10 to $90, and reiterating its "outperform" assessment. The stock also received a price-target hike to $95 from $85 at Canaccord Genuity, which likewise maintained its "buy" rating. NXP Semiconductors NV has had an outstanding run on the charts over the past 52 weeks, tacking on roughly 84% to trade at $79.06 -- and tagging a fresh all-time high of $81.29 out of the gate today -- and option traders have been quick to take note. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), the equity's 10-day call/put volume ratio of 3.85 ranks in the bullishly skewed 73rd annual percentile.

  • Goldman Sachs raised its outlook on CHK to "buy" from "neutral," despite the stock's 5% year-over-year deficit to trade at $17.93. More recently, the equity spent last week churning south of its 20-day moving average -- currently located at $18.80 -- prompting a rush of put buying in the equity's options pits. In fact, CHK's 10-day ISE/CBOE/PHLX put/call volume ratio of 3.75 ranks in the 99th percentile of its annual range, meaning puts have been bought to open over calls with more rapidity just 1% of the time within the past year. Echoing this put-skewed bias is CHK's Schaeffer's put/call open interest ratio (SOIR) of 0.79, which ranks higher than 88% of similar readings taken in the past year. Simply stated, short-term speculators are more put-heavy than usual toward Chesapeake Energy Corporation.

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