The Latest Breaking News from Vivek Arya

Advanced Micro Devices, Inc. (NASDAQ: AMD) and NVIDIA Corporation (NASDAQ: NVDA) shares are trading lower after B of A Securities maintained bullish ratings on the stock but lowered its price targets.

Semiconductor stocks have taken a big hit so far in 2022, and one Wall Street analyst just adjusted his ratings on six semis heading into the second half of the year. The Analyst: Bank of America analyst Vivek Arya made the following seven ratings changes on Wednesday:

New Street analyst Pierre Ferragu upgraded NVIDIA Corp (NASDAQ:NVDA) to Buy from Neutral with a price target of $280 (30.2% upside). Ferragu saw an attractive valuation, greater visibility on the "crypto-winter risk," and the company's robust data center outlook.  Ethereum's hash rate quadrupled between October 2020 and January 2022, likely boosting Nvidia's FY22 gaming revenues…

BofA analyst Vivek Arya reiterated a Buy rating and a $375 price target (71.1% upside) on NVIDIA Corp (NASDAQ:NVDA) and a Top Pick designation. Arya saw the Baird downgrade-related selloff as likely done. Truist also slashed the price targets on the chipmakers. Arya acknowledged that Nvidia's gaming business was vulnerable to weaker demand from Europe due to the Russia-Ukraine…

BofA analyst Vivek Arya's recent discussions with investors about the U.S. Semiconductors sector have "overwhelmingly" been focused more on cycle worries such as peaking demand and rising Capex than company fundamentals.

With semiconductor stocks bouncing back, one analyst has assembled a portfolio of high-conviction names investors should consider.

Dividends have been a major source of long-term stock market returns. From 1930 to 2017, dividends accounted for 42% of the S&P 500's total returns.

Advanced Micro Devices Inc (NASDAQ:AMD) and NVIDIA Corp (NASDAQ:NVDA) are likely to keep benefiting, BofA analyst Vivek Arya notes. The graphics chip market is "still early in the upgrade cycle." The second half of the year should grow more robust as supply and mix improve. Related Content: AMD Analyst Turns Bullish After 10 Years; 'Valuation Downright Attractive, Execution…

Multiple analysts initiated coverage on Credo Technology Group Holding Ltd (NASDAQ:CRDO) with a positive stance. Goldman Sachs analyst Toshiya Hari initiated coverage on Credo with a Buy rating and price target of $23 (51.3% upside). Stifel analyst Tore Svanberg initiated coverage on Credo with a Buy rating and price target of $20 (31.6% upside). BofA analyst Vivek…