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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 69, which is 39 points higher than the semiconductor industry average of 30. It passed 22 out of 33 due diligence checks and has strong fundamentals. Rambus has seen its stock return 8.25% over the past year, underperforming other semiconductor stocks by -37 percentage points.

Rambus has an average 1 year price target of $81.67, an upside of 40.88% from Rambus's current stock price of $57.97.

Rambus stock has a consensus Strong Buy recommendation according to Wall Street analysts. Of the 3 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 27 points higher than the semiconductor industry average of 30. It passed 20 out of 38 due diligence checks and has strong fundamentals. Skyworks Solutions has seen its stock lose -5.52% over the past year, underperforming other semiconductor stocks by -51 percentage points.

Skyworks Solutions has an average 1 year price target of $105.46, an upside of 12.64% from Skyworks Solutions's current stock price of $93.62.

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.

Analog Devices (NASDAQ:ADI) is the third best semiconductor stock with a Zen Score of 55, which is 25 points higher than the semiconductor industry average of 30. It passed 19 out of 38 due diligence checks and has strong fundamentals. Analog Devices has seen its stock return 13.9% over the past year, underperforming other semiconductor stocks by -31 percentage points.

Analog Devices has an average 1 year price target of $219.83, an upside of 2.69% from Analog Devices's current stock price of $214.08.

Analog Devices stock has a consensus Strong Buy recommendation according to Wall Street analysts. Of the 12 analysts covering Analog Devices, 58.33% have issued a Strong Buy rating, 16.67% have issued a Buy, 25% 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 145.08%, which is 136 percentage points higher than the semiconductor industry average of 9.18%.

Wisekey International Holding Sa's dividend payout ratio of -1,098% indicates that its high dividend yield might not be sustainable for the long-term.

Himax Technologies (NASDAQ:HIMX) has an annual dividend yield of 7.2%, which is -2 percentage points lower than the semiconductor industry average of 9.18%. 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 7.16%, which is -2 percentage points lower than the semiconductor industry average of 9.18%. 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.

Semiconductor stocks were down -0.64% in the last day, and up 3.62% over the last week.

We couldn't find a catalyst for why semiconductor stocks are down.

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 -5.52% in the past year. It has underperformed other stocks in the semiconductor industry by -51 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 8.25% in the past year. It has underperformed other stocks in the semiconductor industry by -37 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 13.9% in the past year. It has underperformed other stocks in the semiconductor industry by -31 percentage points.