BofA upgrades Ambarella to ‘neutral’

Investing.com

17 Dec 2024

Investing.com --BofA Securities upgraded Ambarella Inc (NASDAQ:AMBA) to “neutral” from “underperform,” with the price target raised to $80 from $65, on expected growth acceleration. Advanced Energy Industries Inc (NASDAQ:AEIS) was also upgraded to ‘buy’ from ‘neutral,’ with a new price target of $140, reflecting operational leverage.

Whereas Microchip Technology Inc (NASDAQ:MCHP) was downgraded to ‘underperform’ from ‘neutral,’ with the price target lowered to $65 from $80, as analysts see limited catalysts for near-term growth.

For 2025, BofA forecasts 15% growth in the semiconductor industry, with core semiconductors excluding memory rising 13%.

Analysts highlighted strong momentum in AI semiconductors during the first half of the year, driven by Nvidia (NASDAQ:NVDA) deployments, but expect a shift to auto and industrial chipmakers in the second half due to inventory normalization.

Top picks for 2025 include Nvidia, Broadcom (NASDAQ:AVGO), Marvell (NASDAQ:MRVL) Technology, and Lam Research (NASDAQ:LRCX). These stocks are poised to benefit from AI trends and a potential recovery in capital expenditures and cyclical markets.

BofA noted risks from China restrictions and macroeconomic uncertainties but maintains a positive long-term outlook for semiconductor growth.

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Advanced Energy ...</p>\n\n<a href=\"https://finance.yahoo.com/news/bofa-upgrades-ambarella-neutral-200135266.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":null,"symbol_name":null,"start_time":0,"source_url":"https://finance.yahoo.com/news/bofa-upgrades-ambarella-neutral-200135266.html","article_id":"2492647773","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2492647773","pubTimestamp":1734379295,"columns":[],"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Investing.com --BofA Securities upgraded Ambarella Inc  to “neutral” from “underperform,” with the price target raised to $80 from $65, on expected growth acceleration. Advanced Energy Industries Inc  was also upgraded to ‘buy’ from ‘neutral,’ with a new price target of $140, reflecting operational leverage.Whereas Microchip Technology Inc  was downgraded to ‘underperform’ from ‘neutral,’ with the price target lowered to $65 from $80, as analysts see limited catalysts for near-term growth.For 2025, BofA forecasts 15% growth in the semiconductor industry, with core semiconductors excluding memory rising 13%.Analysts highlighted strong momentum in AI semiconductors during the first half of the year, driven by Nvidia  deployments, but expect a shift to auto and industrial chipmakers in the second half due to inventory normalization.Top picks for 2025 include Nvidia, Broadcom , Marvell  Technology, and Lam Research . 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These stocks are poised to benefit from AI trends and a potential recovery in capital expenditures and cyclical markets.\nBofA noted risks from China restrictions and macroeconomic uncertainties but maintains a positive long-term outlook for semiconductor growth.\nRelated Articles\nBofA upgrades Ambarella to ‘neutral’\nNasdaq hits record as investors await Fed rate decision\nRegional lenders Berkshire Hills Bancorp, Brookline strike $1.1 billion merger deal","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"code":"91000000","status":"200"}}}