Craig-Hallum analyst Richard Shannon maintained a Hold rating on Nvidia but bumped his price target to $170 from $165 following the company's Q2 beat and largely in-line Q3 guidance. In a research note to investors, Shannon says Nvidia's growth may struggle to get to 20% in the near term given Data Center, and with the stock trading at 27x FY20 EV/EPS, it is too rich given the geopolitical and macro risks.

Barclays analyst Tom O'Malley raised the firm's price target on Broadcom (AVGO) to $1,500 from $1,405 and keeps an Overweight rating on the shares after hosting management for meetings. Broadcom is one of the unique companies that has a comprehensive view of the semis industry while also capable of providing an "intimate look" at the artificial intelligence market via custom silicon, the analyst tells investors in a research note. The firm says management highlighted the company's inroads with the consumer-facing AI world, providing a differing viewpoint versus Nvidia's (NVDA) vision of the world - pointing to a two-part market of consumer and enterprise that could grow to a 50/50 split over time. Barclays came away from the meetings "with a valuable second opinion on the future of AI and a greater appreciation for the company's many ways to win."