CES 2018 Boosted These Chip And Technology Suppliers - Investor's Business Daily

LAS VEGAS — The giant CES consumer electronics trade show provided a lift to a bunch of component technology providers this week.

Among companies impressing Wall Street analysts at the show this week were Dolby Laboratories (DLB), Nvidia (NVDA), ON Semiconductor (ON) and Synaptics (SYNA).

Audio and video technology licensing firm Dolby showcased advances in its Dolby Vision and Dolby Atmos products at CES. It also highlighted the momentum in its business by announcing a slew of customer wins, spanning televisions, PCs, Blu-ray Disc players and sound bars.

Dolby stock rose 1.6% to close at 65.34 on the stock market today. In intraday trading Friday, it hit an all-time high of 65.56 after popping 3.3% higher on Thursday.

"We believe 2018 can be another solid year for Dolby's stock given revenue is forecast to reaccelerate and margins expand," William Blair analyst Ralph Schackart said in a report. He rates Dolby stock as outperform.

Graphics-chip maker Nvidia kicked off CES week with a press conference Sunday where it touted its advancements in self-driving cars, artificial intelligence and augmented reality.

Its shares broke out of a cup base with a buy point of 218.77 on Monday. The stock climbed to a record high of 226.27 on Thursday then dipped 0.5% to 222.98 on Friday.

"Nvidia continues to innovate at a pace that is challenging for the competition to keep up," Rosenblatt Securities analyst Hans Mosesmann said in a report. "Nvidia now is in a dominant position in the AI-based self-driving car market with a formidable 'stack' of software, middleware, and hardware."

Mosesmann rates Nvidia stock as buy with a price target of 250.

Consumer technology publisher Digital Trends awarded its "Top Tech of CES 2018" award to Nvidia for the Xavier automotive system-on-a-chip platform, which "puts mass adoption of autonomous vehicles one step closer to reality."

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ON Semiconductor stock jumped to a more than 17-year high Friday of 23.66. It ended the regular trading session up 2.1% to 23.57.

Mizuho Securities analyst Vijay Rakesh on Thursday raised his price target on ON Semi to 26 from 24 and reiterated his buy rating.

ON Semi is showing strong momentum in chips for advanced driver-assistance systems and electric vehicles, Rakesh said. It also is showing nice growth in its USB-C connector chip business, he said.

Device interface maker Synaptics saw its shares surge Friday after getting a bullish report from a Wall Street analyst. Synaptics stock jumped 13.5% to 49.76.

KeyBanc Capital Markets analyst John Vinh upgraded Synaptics to overweight from sector weight and set a price target of 60.

Synaptics is well positioned with in-display fingerprint sensing technology for smartphones, Vinh said. The company's business in microphones for smart speakers also is underappreciated, he said.

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