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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 64, which is 32 points higher than the semiconductor industry average of 32. It passed 20 out of 33 due diligence checks and has strong fundamentals. Rambus has seen its stock return 28.9% over the past year, underperforming other semiconductor stocks by -12 percentage points.

Rambus has an average 1 year price target of $85.00, an upside of 43.51% from Rambus's current stock price of $59.23.

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.

Analog Devices (NASDAQ:ADI) is the second best semiconductor stock with a Zen Score of 58, which is 26 points higher than the semiconductor industry average of 32. It passed 20 out of 38 due diligence checks and has strong fundamentals. Analog Devices has seen its stock return 11.8% over the past year, underperforming other semiconductor stocks by -30 percentage points.

Analog Devices has an average 1 year price target of $211.18, an upside of 4.56% from Analog Devices's current stock price of $201.97.

Analog Devices stock has a consensus Strong Buy recommendation according to Wall Street analysts. Of the 11 analysts covering Analog Devices, 54.55% have issued a Strong Buy rating, 18.18% have issued a Buy, 27.27% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

Qualcomm (NASDAQ:QCOM) is the third best semiconductor stock with a Zen Score of 57, which is 25 points higher than the semiconductor industry average of 32. It passed 20 out of 38 due diligence checks and has strong fundamentals. Qualcomm has seen its stock return 45.11% over the past year, overperforming other semiconductor stocks by 4 percentage points.

Qualcomm has an average 1 year price target of $171.71, an upside of 3.65% from Qualcomm's current stock price of $165.66.

Qualcomm stock has a consensus Strong Buy recommendation according to Wall Street analysts. Of the 14 analysts covering Qualcomm, 71.43% have issued a Strong Buy rating, 0% have issued a Buy, 28.57% 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 136.59%, which is 128 percentage points higher than the semiconductor industry average of 8.89%.

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 9.52%, which is 1 percentage points higher than the semiconductor industry average of 8.89%. 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 7.52%, which is -1 percentage points lower than the semiconductor industry average of 8.89%. 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 3.12% in the last day, and up 11.44% over the last week. Astera Labs was the among the top gainers in the semiconductors industry, gaining 18.73% yesterday.

Shares of semiconductor and chip stocks are trading higher following strong earnings from Microsoft, which could be lifting AI optimism.

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 72 points higher than the semiconductor industry average of 28. It passed 7 out of 7 valuation due diligence checks.

Skyworks Solutions's stock has gained 1.46% in the past year. It has underperformed other stocks in the semiconductor industry by -40 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 72 points higher than the semiconductor industry average of 28. It passed 7 out of 7 valuation due diligence checks.

Himax Technologies's stock has dropped -23.05% in the past year. It has underperformed other stocks in the semiconductor industry by -64 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 86, which is 58 points higher than the semiconductor industry average of 28. It passed 6 out of 7 valuation due diligence checks.

Analog Devices's stock has gained 11.8% in the past year. It has underperformed other stocks in the semiconductor industry by -30 percentage points.