Barclays' most bullish view on the global semiconductor stock gives it a whopping 233% potential upside from its current price.
Shares of Alphawave Semi , a U.K.-based technology company that designs custom chips and semiconductors, are expected to rise by more than 50% over the next 12 months, according to Barclays. The investment bank's equity research team initiated coverage of Alphawave Semi with an "overweight" rating on Feb. 20 and expect the share price to rise to £1.60 per share. The stock was trading at £1.05 on Friday.
The other was Banias Labs, which expanded Alphawave's patents and intellectual property. The takeover also included "hyper scalers" – a term used to describe cloud computing giants such as Amazon and Microsoft – as customers. "Our bullish stance is based on Alphawave's leading IP position within the rapidly growing data centre space, which should drive sales and profit growth faster than other company in our coverage.
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