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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 67, which is 34 points higher than the semiconductor industry average of 33. It passed 21 out of 33 due diligence checks and has strong fundamentals. Rambus has seen its stock return 16.08% over the past year, underperforming other semiconductor stocks by -11 percentage points.

Rambus has an average 1 year price target of $85.00, an upside of 50.6% from Rambus's current stock price of $56.44.

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.

On Semiconductor (NASDAQ:ON) is the second best semiconductor stock with a Zen Score of 61, which is 28 points higher than the semiconductor industry average of 33. It passed 19 out of 33 due diligence checks and has strong fundamentals. On Semiconductor has seen its stock lose -17.07% over the past year, underperforming other semiconductor stocks by -44 percentage points.

On Semiconductor has an average 1 year price target of $83.31, an upside of 35.07% from On Semiconductor's current stock price of $61.68.

On Semiconductor stock has a consensus Buy recommendation according to Wall Street analysts. Of the 16 analysts covering On Semiconductor, 43.75% have issued a Strong Buy rating, 12.5% have issued a Buy, 37.5% have issued a hold, while 6.25% have issued a Sell rating, and 0% have issued a Strong Sell.

Analog Devices (NASDAQ:ADI) is the third best semiconductor stock with a Zen Score of 58, which is 25 points higher than the semiconductor industry average of 33. It passed 20 out of 38 due diligence checks and has strong fundamentals. Analog Devices has seen its stock return 1.59% over the past year, underperforming other semiconductor stocks by -25 percentage points.

Analog Devices has an average 1 year price target of $211.18, an upside of 11.19% from Analog Devices's current stock price of $189.93.

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.

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 130.84%, which is 122 percentage points higher than the semiconductor industry average of 8.7%.

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 9.78%, which is 1 percentage points higher than the semiconductor industry average of 8.7%. 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 7.71%, which is -1 percentage points lower than the semiconductor industry average of 8.7%. 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 56.6% indicates that its high dividend yield is sustainable for the long-term.

Semiconductor stocks were up 2.37% in the last day, and down -4.9% over the last week. Astera Labs was the among the top gainers in the semiconductors industry, gaining 9.01% yesterday.

Astera Labs shares are trading higher as AI and semiconductor-related stocks rebound after Friday's drop.

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

Himax Technologies (NASDAQ:HIMX) is the most undervalued semiconductor stock based on WallStreetZen's Valuation Score. Himax Technologies has a valuation score of 100, which is 69 points higher than the semiconductor industry average of 31. It passed 7 out of 7 valuation due diligence checks.

Himax Technologies's stock has dropped -27.26% in the past year. It has underperformed other stocks in the semiconductor industry by -54 percentage points.

Analog Devices (NASDAQ:ADI) is the second most undervalued semiconductor stock based on WallStreetZen's Valuation Score. Analog Devices has a valuation score of 86, which is 55 points higher than the semiconductor industry average of 31. It passed 6 out of 7 valuation due diligence checks.

Analog Devices's stock has gained 1.59% in the past year. It has underperformed other stocks in the semiconductor industry by -25 percentage points.

Silicon Motion Technology (NASDAQ:SIMO) is the third most undervalued semiconductor stock based on WallStreetZen's Valuation Score. Silicon Motion Technology has a valuation score of 86, which is 55 points higher than the semiconductor industry average of 31. It passed 6 out of 7 valuation due diligence checks.

Silicon Motion Technology's stock has gained 14.41% in the past year. It has underperformed other stocks in the semiconductor industry by -12 percentage points.