NVIDIA Corp (NASDAQ:NVDA) and Advanced Micro Devices Inc (NASDAQ:AMD) shares are trading lower Thursday in the wake of Taiwan Semiconductor Manufacturing Co’s (NYSE:TSM) better-than-expected earnings results.
- TSM Q4 Revenue: $19.93 billion missed estimate of $20.56 billion
- TSM Q4 EPS: $1.82 beat estimate of $1.77
Several analysts also weighed in on the semiconductor space Thursday morning.
Keybanc analyst John Vinh maintained Nvidia with an Overweight and lowered the price target from $230 to $220. Vinh also maintained AMD with an Overweight and lowered the price target from $85 to $80.
Barclays analyst Blayne Curtis maintained AMD with an Equal-Weight and raised the price target from $68 to $70.
What Else: AMD also announced a CFO transition Thursday morning.
CFO Devinder Kumar will be retiring from the company and Jean Hu will join as executive vice president and CFO on Jan. 23.
AMD said it will hold a conference call to discuss its upcoming fourth-quarter results on Jan. 31. Nvidia is expected to report earnings sometime shortly after.
Taiwan Semi, Nvidia and AMD all operate in the chip space.
See Also: Why TSMC Shares Are Rallying Despite Lackluster Q1 Guidance
NVDA, AMD Price Action: At publication time, Nvidia was down 1.2% at $158.11 and AMD was up 0.12% at $68.99, according to Benzinga Pro.
Photo: courtesy of Nvidia.
