Leading semiconductor and chip-gear stocks were in the green on Thursday, continuing their winning ways.
Graphics-chip maker Nvidia (NVDA) was up 0.2%, near 191.40, on the stock market today, after getting a price-target hike from RBC Capital Markets. In intraday trading, it hit an all-time high of 193.09.
Nvidia stock broke out of a flat base with a buy point of 174.66 on Sept. 15 and is now extended beyond its buy zone.
RBC analyst Mitch Steves raised his price target on Nvidia stock to 220 from 205 and reiterated his outperform rating. He sees solid demand for graphics chips for gaming devices and PCs as well as data centers.
Nvidia is currently ranked No. 6 on the IBD 50 list of top-performing growth stocks. It is one of six chip industry players on IBD’s flagship stock screen. The others are Lam Research (LRCX), Applied Materials (AMAT), Advanced Energy Industries (AEIS), Microchip Technology (MCHP) and Ichor Holdings (ICHR).
Five of those six IBD 50 stocks notched record or multiyear highs on Thursday. The outlier was Ichor, which notched an all-time high of 31.68 on Wednesday.
IBD’S TAKE: For the latest news on chip stocks, visit IBD’s news page Chip Stocks To Watch And Semiconductor Industry News.
Ichor was up 2.9%, near 31.15, in afternoon trading Thursday.
Lam Research was up 0.4%, near 186.90. In intraday trading it hit a record high of 189.08.
Applied Materials was up 0.2%, near 53.35, on Thursday. Earlier in the session, it reached a 17-year high of 54.13.
Advanced Energy Industries was up 1.7%, near 86, in afternoon trading. Intraday it carved a record high of 86.65.
Microchip Technology was flat, near 91.90, late in the regular session. Earlier in the day, it hit a record high of 92.40.
Chip-Equipment Maker Ichor Hits New High In Wake Of Breakout
Nvidia Shares Jump As Chip Leader Debuts Computer For Self-Driving Cars