5 Cheap Semiconductor Stocks To Buy Now

2. QUALCOMM, Incorporated (NASDAQ:QCOM)

PE Ratio as of January 3: 9.62

Number of Hedge Fund Holders: 80

QUALCOMM, Incorporated (NASDAQ:QCOM) has a strong competitive position in the wireless technology industry, robust growth opportunities, and attractive financials. The company is a leading provider of 3G, 4G, and 5G wireless technologies, which allows it to benefit from the growing demand for wireless communication and data services. The company is also well-positioned to benefit from the increasing demand for connected devices, such as smartphones, tablets, and wearables.

The good news for investors is that this innovative company is currently trading at bargain levels and is therefore one of the best cheap semiconductor stocks to buy now. As of January 3, QUALCOMM, Incorporated (NASDAQ:QCOM) is trading at a PE ratio of 9.62 and is offering a forward dividend yield of 2.73%.

On December 20, JPMorgan analyst Samik Chatterjee revised his price target on QUALCOMM Incorporated (NASDAQ:QCOM) to $160 from $185 and maintained an Overweight rating on the shares.

At the end of the third quarter of 2022, 80 hedge funds were long QUALCOMM, Incorporated (NASDAQ:QCOM) and disclosed positions worth $2.56 billion in the company. Of those, Matrix Capital Management was the largest shareholder in the company with a position worth $377 million.