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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:

Nvidia (NASDAQ:NVDA) is the top semiconductor stock with a Zen Score of 67, which is 36 points higher than the semiconductor industry average of 31. It passed 27 out of 38 due diligence checks and has strong fundamentals. Nvidia has seen its stock return 200.46% over the past year, overperforming other semiconductor stocks by 175 percentage points.

Nvidia has an average 1 year price target of $128.96, an upside of 4.38% from Nvidia's current stock price of $123.54.

Nvidia stock has a consensus Strong Buy recommendation according to Wall Street analysts. Of the 35 analysts covering Nvidia, 65.71% have issued a Strong Buy rating, 28.57% have issued a Buy, 5.71% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

Rambus (NASDAQ:RMBS) is the second best semiconductor stock with a Zen Score of 63, which is 32 points higher than the semiconductor industry average of 31. It passed 20 out of 33 due diligence checks and has strong fundamentals. Rambus has seen its stock lose -1.79% over the past year, underperforming other semiconductor stocks by -28 percentage points.

Rambus has an average 1 year price target of $81.67, an upside of 38.98% from Rambus's current stock price of $58.76.

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.

Silicon Motion Technology (NASDAQ:SIMO) is the third best semiconductor stock with a Zen Score of 53, which is 22 points higher than the semiconductor industry average of 31. It passed 18 out of 38 due diligence checks and has strong fundamentals. Silicon Motion Technology has seen its stock return 7.89% over the past year, underperforming other semiconductor stocks by -18 percentage points.

Silicon Motion Technology has an average 1 year price target of $93.43, an upside of 15.36% from Silicon Motion Technology's current stock price of $80.99.

Silicon Motion Technology stock has a consensus Strong Buy recommendation according to Wall Street analysts. Of the 7 analysts covering Silicon Motion Technology, 57.14% have issued a Strong Buy rating, 42.86% have issued a Buy, 0% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

Out of 20 semiconductor stocks that have issued dividends in the past year, the 3 semiconductor stocks with the highest dividend yields are:

United Microelectronics (NYSE:UMC) has an annual dividend yield of N/A, which is N/A percentage points lower than the semiconductor industry average of 1.87%. 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.

Nve (NASDAQ:NVEC) has an annual dividend yield of 5.36%, which is 3 percentage points higher than the semiconductor industry average of 1.87%. Nve's dividend payout is not stable, having dropped more than 10% one times in the last 10 years. Nve's dividend has not shown consistent growth over the last 10 years.

Nve's dividend payout ratio of 113% indicates that its high dividend yield might not be sustainable for the long-term.

Chipmos Technologies (NASDAQ:IMOS) has an annual dividend yield of 4.26%, which is 2 percentage points higher than the semiconductor industry average of 1.87%. Chipmos Technologies's dividend payout is not stable, having dropped more than 10% three times in the last 10 years. Chipmos Technologies's dividend has not shown consistent growth over the last 10 years.

Chipmos Technologies's dividend payout ratio of 85.9% indicates that its dividend yield is sustainable for the long-term.

Semiconductor stocks were up 1.18% in the last day, and down -1.04% over the last week.

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

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 71, which is 48 points higher than the semiconductor industry average of 23. It passed 5 out of 7 valuation due diligence checks.

Skyworks Solutions's stock has dropped -1.45% in the past year. It has underperformed other stocks in the semiconductor industry by -27 percentage points.

Rambus (NASDAQ:RMBS) is the second most undervalued semiconductor stock based on WallStreetZen's Valuation Score. Rambus has a valuation score of 57, which is 34 points higher than the semiconductor industry average of 23. It passed 4 out of 7 valuation due diligence checks.

Rambus's stock has dropped -1.79% in the past year. It has underperformed other stocks in the semiconductor industry by -28 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 57, which is 34 points higher than the semiconductor industry average of 23. It passed 4 out of 7 valuation due diligence checks.

Silicon Motion Technology's stock has gained 7.89% in the past year. It has underperformed other stocks in the semiconductor industry by -18 percentage points.