Semiconductor and software names dominated analyst activity on August 14, with Applied Materials drawing the most attention. B of A Securities analyst Vivek Arya cut his price target to $650 from $720. He kept his Buy rating. Needham's Charles Shi initiated with a Buy and a $740 target. The consensus target edged up to $639 from $634.
Workday saw a sharp target upgrade. UBS analyst Karl Keirstead lifted his target to $220 from $140 — a 57% jump — while keeping his Hold rating. Piper Sandler reiterated Hold at $145. The stock carries 12.6% short interest as a percentage of free float. That gap between the two targets is notable.
Sandisk received a fresh Buy initiation from Cantor Fitzgerald's C.J. Muse. The target: $2,900. The $200bn market cap storage company now has 18 Buy ratings and four Hold ratings in coverage.
Tapestry saw BTIG trim its target to $175 from $180 but held its Buy. AppLovin added a new consensus recommendation, landing squarely in Buy territory with 26 Buy ratings versus six Holds.
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