10 Undervalued Chip Stocks Near 52-Week Lows

6. Skyworks Solutions Inc (NASDAQ:SWKS)

Skyworks Solutions is a semiconductor products manufacturer that operates in all the major economies of the world. The company makes products like antennas, automotive tuners, digital radios, detectors, modulators, and amplifiers among many other products. Its end markets include aerospace, automotive, defense, entertainment, medical, and industrial sectors.

Skyworks often makes it to the news in relation to Apple Inc, as it is one of the suppliers for the tech giant. The stock spent most of the second half of last year in a downtrend on the back of weakness in its smartphone division. It also lost market share to Qualcomm once the broader market recovered. The stock’s underperformance is fully justified as it struggles to keep up with its competitors in almost all of its segments. Despite a smartphone market that showed the best growth in 5 years, the company’s growth was relatively muted. Its Apple-related business, as well as its Android business, isn’t growing as well as investors would hope.

Having said all the above, the stock is pricing in all of these headwinds that the company is dealing with simultaneously. The average analyst target price of $96.27 is still above the current share price, which means any positive trigger could start a bull run as analysts revise their estimates.