Tech stocks rallied in the previous year, amassing impressive gains. While the previous weeks’ turbulent events more or less influenced them, experts think that they will still profit. Maybe not as much, as the companies plan. But some stocks will manage to hit high despite the coronavirus impact.
Akoustis Technologies, Inc. is one of such stocks. This company provides the crystal-based piezoelectric components of bulk acoustic wave filters. They, on the other hand, are used in mobile wireless devices, including smartphones.
While Akoustis holds a specific niche, it’s quite profitable. The company’s shares skyrocketed in 2019, showing 61% gains. Sujeeva De Silva, Roth Capital’s analyst, thinks that Akoustis Technologies is a strong buy. According to him, analysts are encouraged by initial volume orders from infrastructure customers.
De Silva expects infrastructure customer ramp to commence in the June quarter, with WiFi customer ramps also starting in the September quarter. Both of them will bring additional gains. The analyst set the price target at $10, with a 25% upside potential.
Is nLight Also a Strong Buy?
nLight, Inc. is the other interesting stock worthy of investors’ attention. This company produces lasers for high-tech manufacturing industries. Among its products are diode systems, fiber-optic lasers, single emitters, and diode laser stacks. nLight also has a worldwide sales base.
The company’s share has fallen since last week. It reported losses both in fourth-quarter revenue and earnings. While at the bottom line, the EPS net lost 6 cents, on the top line, revenue surpassed the forecast by 12%. It reached $42.9 million. So far, the shares are down by 12% in 2020.
However, experts think that the stock will rebound soon. John Marchetti, Stifel Nicolaus analyst, wrote that nLight’s focus on higher-powered lasers, new market applications, and programmability should provide a strong base to return to growth.
Marchetti raised his price target from $21 to $26, with a 45% upside potential. The average price target is $24.75. If it is met, the investors will gain 38%.
