5 Undervalued Semiconductor Stocks To Buy Now

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1. Silicon Motion Technology Corp. (NASDAQ:SIMO

PE Ratio (TTM) as of April 14: 3.20

Number of Hedge Fund Holders: 35

35 hedge funds held stakes in Silicon Motion Technology Corp. (NASDAQ:SIMO) at the close of Q4 2022. The total value of these stakes amounted to $557 million. As of December 31, Antara Capital is the largest shareholder in the company and holds a position worth $61.7 million.

On February 8, Needham analyst Rajvindra Gill raised his price target on Silicon Motion Technology Corp. (NASDAQ:SIMO) to $85 from $75 and maintained a Buy rating on the shares.

Silicon Motion Technology Corp. (NASDAQ:SIMO) is one of the best undervalued semiconductor stocks to buy now according to hedge funds. As of April 14, the stock is trading at a PE multiple of 3x and has gone up by 14.09% over the past 6 months.

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