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Best Semiconductor Stocks to Buy Now (2024)

Top semiconductor stocks in 2024 ranked by overall Zen Score. See the best semiconductor stocks to buy now, according to analyst forecasts for the semiconductors industry.

According to Zen Score, the 3 best semiconductor stocks to buy right now are:

Rambus (NASDAQ:RMBS) is the top semiconductor stock with a Zen Score of 70, which is 39 points higher than the semiconductor industry average of 31. It passed 22 out of 33 due diligence checks and has strong fundamentals. Rambus has seen its stock return 17.45% over the past year, underperforming other semiconductor stocks by -26 percentage points.

Rambus has an average 1 year price target of $85.00, an upside of 49.25% from Rambus's current stock price of $56.95.

Rambus stock has a consensus Strong Buy recommendation according to Wall Street analysts. Of the 2 analysts covering Rambus, 100% have issued a Strong Buy rating, 0% have issued a Buy, 0% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

Skyworks Solutions (NASDAQ:SWKS) is the second best semiconductor stock with a Zen Score of 57, which is 26 points higher than the semiconductor industry average of 31. It passed 20 out of 38 due diligence checks and has strong fundamentals. Skyworks Solutions has seen its stock lose -12.79% over the past year, underperforming other semiconductor stocks by -56 percentage points.

Skyworks Solutions has an average 1 year price target of $105.46, an upside of 14.9% from Skyworks Solutions's current stock price of $91.78.

Skyworks Solutions stock has a consensus Buy recommendation according to Wall Street analysts. Of the 11 analysts covering Skyworks Solutions, 36.36% have issued a Strong Buy rating, 0% have issued a Buy, 54.55% have issued a hold, while 0% have issued a Sell rating, and 9.09% have issued a Strong Sell.

Advanced Micro Devices (NASDAQ:AMD) is the third best semiconductor stock with a Zen Score of 56, which is 25 points higher than the semiconductor industry average of 31. It passed 18 out of 33 due diligence checks and has strong fundamentals. Advanced Micro Devices has seen its stock return 63.91% over the past year, overperforming other semiconductor stocks by 20 percentage points.

Advanced Micro Devices has an average 1 year price target of $196.96, an upside of 26.44% from Advanced Micro Devices's current stock price of $155.78.

Advanced Micro Devices stock has a consensus Strong Buy recommendation according to Wall Street analysts. Of the 27 analysts covering Advanced Micro Devices, 74.07% have issued a Strong Buy rating, 14.81% have issued a Buy, 11.11% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

Out of 21 semiconductor stocks that have issued dividends in the past year, the 3 semiconductor stocks with the highest dividend yields are:

Wisekey International Holding Sa (NASDAQ:WKEY) has an annual dividend yield of 138.61%, which is 130 percentage points higher than the semiconductor industry average of 8.94%.

Wisekey International Holding Sa's dividend payout ratio of -36.3% indicates that its high dividend yield might not be sustainable for the long-term.

Himax Technologies (NASDAQ:HIMX) has an annual dividend yield of 9.28%, which is the same as the semiconductor industry average of 8.94%. Himax Technologies's dividend payout is not stable, having dropped more than 10% three times in the last 10 years. Himax Technologies's dividend has shown consistent growth over the last 10 years.

Himax Technologies's dividend payout ratio of 160% indicates that its high dividend yield might not be sustainable for the long-term.

United Microelectronics (NYSE:UMC) has an annual dividend yield of 7.22%, which is -2 percentage points lower than the semiconductor industry average of 8.94%. United Microelectronics's dividend payout is not stable, having dropped more than 10% three times in the last 10 years. United Microelectronics's dividend has shown consistent growth over the last 10 years.

United Microelectronics's dividend payout ratio of 77.6% indicates that its high dividend yield is sustainable for the long-term.

Semiconductor stocks were up 2.46% in the last day, and up 1.12% over the last week. Silicon Motion Technology was the among the top gainers in the semiconductors industry, gaining 6.25% yesterday.

Silicon Motion Technology shares are trading higher after Morgan Stanley upgraded the stock from Equal-Weight to Overweight and raised its price target from $59 to $88.

Based on WallStreetZen's Valuation Score, the 3 most undervalued semiconductor stocks right now are:

Skyworks Solutions (NASDAQ:SWKS) is the most undervalued semiconductor stock based on WallStreetZen's Valuation Score. Skyworks Solutions has a valuation score of 100, which is 73 points higher than the semiconductor industry average of 27. It passed 7 out of 7 valuation due diligence checks.

Skyworks Solutions's stock has dropped -12.79% in the past year. It has underperformed other stocks in the semiconductor industry by -56 percentage points.

Himax Technologies (NASDAQ:HIMX) is the second most undervalued semiconductor stock based on WallStreetZen's Valuation Score. Himax Technologies has a valuation score of 100, which is 73 points higher than the semiconductor industry average of 27. It passed 7 out of 7 valuation due diligence checks.

Himax Technologies's stock has dropped -24.19% in the past year. It has underperformed other stocks in the semiconductor industry by -68 percentage points.

Cirrus Logic (NASDAQ:CRUS) is the third most undervalued semiconductor stock based on WallStreetZen's Valuation Score. Cirrus Logic has a valuation score of 86, which is 59 points higher than the semiconductor industry average of 27. It passed 6 out of 7 valuation due diligence checks.

Cirrus Logic's stock has gained 15.37% in the past year. It has underperformed other stocks in the semiconductor industry by -28 percentage points.