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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 72, which is 41 points higher than the semiconductor industry average of 31. It passed 23 out of 33 due diligence checks and has strong fundamentals. Rambus has seen its stock return 17.78% over the past year, underperforming other semiconductor stocks by -28 percentage points.

Rambus has an average 1 year price target of $85.00, an upside of 52% from Rambus's current stock price of $55.92.

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 -7.58% over the past year, underperforming other semiconductor stocks by -54 percentage points.

Skyworks Solutions has an average 1 year price target of $105.46, an upside of 14.31% from Skyworks Solutions's current stock price of $92.25.

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 60.31% over the past year, overperforming other semiconductor stocks by 14 percentage points.

Advanced Micro Devices has an average 1 year price target of $196.96, an upside of 29.25% from Advanced Micro Devices's current stock price of $152.39.

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 141.77%, which is 133 percentage points higher than the semiconductor industry average of 9.12%.

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 8.42%, which is -1 percentage points lower than the semiconductor industry average of 9.12%. 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.

United Microelectronics (NYSE:UMC) has an annual dividend yield of 7.38%, which is -2 percentage points lower than the semiconductor industry average of 9.12%. 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 down -0.33% in the last day, and up 3.86% over the last week. Emcore was the among the top losers in the semiconductors industry, dropping -61.72% yesterday.

EMCORE shares are trading lower after the company reported mixed Q2 financial results and issued Q3 revenue guidance below estimates.

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 74 points higher than the semiconductor industry average of 26. It passed 7 out of 7 valuation due diligence checks.

Skyworks Solutions's stock has dropped -7.58% in the past year. It has underperformed other stocks in the semiconductor industry by -54 percentage points.

Rambus (NASDAQ:RMBS) is the second most undervalued semiconductor stock based on WallStreetZen's Valuation Score. Rambus has a valuation score of 86, which is 60 points higher than the semiconductor industry average of 26. It passed 6 out of 7 valuation due diligence checks.

Rambus's stock has gained 17.78% in the past year. It has underperformed other stocks in the semiconductor industry by -28 percentage points.

Analog Devices (NASDAQ:ADI) is the third most undervalued semiconductor stock based on WallStreetZen's Valuation Score. Analog Devices has a valuation score of 71, which is 45 points higher than the semiconductor industry average of 26. It passed 5 out of 7 valuation due diligence checks.

Analog Devices's stock has gained 14.01% in the past year. It has underperformed other stocks in the semiconductor industry by -32 percentage points.