After hosting investor meetings with management teams across the country, Piper Jaffray analyst Harsh Kumar says semiconductor demand trends continue to remain strong. Companies are still seeing little to no impact from the trade war/tariff rhetoric, Kumar tells investors in a research note. He believes Semtech (SMTC) and Integrated Device Technology (IDTI) represent two of the best organic growth stories in the semiconductor landscape. The analyst raised his price target for Semtech to $63 from $57 and keeps an Overweight rating on the name. His top overall picks in the second remain Broadcom (AVGO), Microchip (MCHP) and Semtech.

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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."

Barclays analyst Tom O'Malley raised the firm's price target on Broadcom to $1,500 from $1,405 and keeps an Overweight rating on the shares. The analyst increased the price after hosting management for meetings.