Analysts upwardly revised their ratings and price targets on Micron Technology, Inc. (MU), Broadcom Ltd (AVGO), and GoPro Inc (GPRO)
Analysts are weighing in on semiconductor stocks
Micron Technology, Inc. (NASDAQ:MU) and
Broadcom Ltd (NASDAQ:AVGO), as well as tech stock
GoPro Inc (NASDAQ:GPRO). Here's a quick roundup of today's bullish brokerage notes on MU, AVGO, and GPRO.
- MU continues to push higher, adding 1.9% this morning to trade at $16.82 -- fresh off a year-to-date high of $17.25 -- after Stifel and Deutsche Bank raised their price targets to $18 and $20, respectively. Looking back, the stock hasn't traded above $20 in over a year, but analysts have been targeting the round level recently. Indeed, the brokerage crowd -- similar to options traders -- is mostly upbeat on Micron Technology, Inc. At the moment, two-thirds of covering analysts recommend buying the stock.
- AVGO has also been burning up the charts recently, gaining roughly 25% since bottoming near $142 in June. Today, the stock is up another 0.4% at $177.82, thanks to price-target increases at Brean Capital and RBC, which set their respective marks at $200 and $190. Both targets represent all-time-high territory for the shares, but bullish expectations are the norm for Broadcom Ltd. For example, the stock's 50-day call/put volume ratio at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) is 1.57 -- higher than four-fifths of the past year's readings. Looking ahead, the company is slated to report earnings Thursday evening.
- GPRO is up 1.3% this morning, last seen at $14.91, after Goldman Sachs raised its price target to $12.50 from $11. GoPro Inc has been making strides on the charts in recent weeks, outpacing the S&P 500 Index (SPX) by nearly 33 percentage points in the past three months. While options traders have already taken a bullish stance, more optimistic attention from the analyst community could lift GPRO even higher. That is, just five of 15 covering analysts recommend buying the stock, meaning future upgrades are a possibility.
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