Why Qualcomm, Skyworks, and Nvidia Stocks Popped Today
Shares of Qualcomm (NASDAQ: QCOM), Skyworks Solutions (NASDAQ: SWKS), and Nvidia (NASDAQ: NVDA) surged higher Monday morning after international megabank Barclays upgraded two of these name-brand semiconductor stocks -- and raised its price target on the third.
As of 10:30 a.m. ET, Qualcomm has gained 5.4%, Skyworks is up 4.2%, and Nvidia -- the one chip stock that Barclays didn't upgrade (but only because it was already recommending it) -- is rising 4.4%.
In a wide-ranging report encompassing most of the semiconductor sector, Barclays this morning upgraded both Qualcomm and Skyworks to overweight (i.e., buy), assigning the stocks price targets of $150 per share and $125 per share, respectively. Nvidia, which Barclays was already recommending as overweight, got a higher price target instead of an upgrade -- $250 per share, a 47% improvement over the old target price and one that promises 34% profits within a year to new buyers.
Source Fool.com
