In this article, we will take a look at the 5 undervalued semiconductor stocks to buy now. If you want to explore similar stocks, you can go to 10 Undervalued Semiconductor Stocks To Buy Now.
5. QUALCOMM, Incorporated (NASDAQ:QCOM)
PE Ratio (TTM) as of April 14: 11.51
Number of Hedge Fund Holders: 82
On March 16, Susquehanna analyst Christopher Rolland upgraded QUALCOMM, Incorporated (NASDAQ:QCOM) to Positive from Neutral and maintained a $140 price target.
As of April 14, QUALCOMM, Incorporated (NASDAQ:QCOM) is trading at a TTM PE ratio of 11.51 and has returned 12.09% to investors on a year-to-date basis. The stock is placed fifth on our list of the best cheap semiconductor stocks to buy now.
QUALCOMM, Incorporated (NASDAQ:QCOM) was spotted on 82 hedge funds’ portfolios at the close of the fourth quarter of 2022. These funds disclosed positions worth $37.5 billion in the company. As of December 31, Matrix Capital Management is the largest shareholder and holds a position worth $366 million.
Here is what Madison Funds had to say about QUALCOMM Incorporated (NASDAQ:QCOM) in its fourth-quarter 2022 investor letter:
“QUALCOMM Incorporated (NASDAQ:QCOM) continues to be challenged by headwinds in the smartphone supply chain with an expected decline in units for 2022. Despite solid gains in the Internet of Things and Auto segments, Qualcomm’s dominant business remains the smartphone market. We expect to see stabilization of the smartphone market in 2023, including a recovery in China.”
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4. United Microelectronics Corporation (NYSE:UMC)
PE Ratio (TTM) as of April 14: 7.41
Number of Hedge Fund Holders: 18
United Microelectronics Corporation (NYSE:UMC) operates as a semiconductor wafer foundry in Taiwan. The company has operations across the globe. United Microelectronics Corporation (NYSE:UMC) is one of the best undervalued semiconductor stocks to buy now according to hedge funds and is trading at a PE multiple of 7x, as of April 14.
This March, Daiwa analyst Rick Hsu upgraded United Microelectronics Corporation (NYSE:UMC) to Buy from Outperform and raised his price target on the stock to NT$62 from NT$48. As of April 14, the stock has gained 41.15% over the past 6 months.
At the end of the fourth quarter of 2022, 18 hedge funds were bullish on United Microelectronics Corporation (NYSE:UMC) and held collective positions worth $213.5 million in the company. Of those, D E Shaw was the top stockholder in the company and held a stake worth $22.2 million.
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3. Amkor Technology, Inc. (NASDAQ:AMKR)
PE Ratio (TTM) as of April 14: 7.77
Number of Hedge Fund Holders: 25
Amkor Technology, Inc. (NASDAQ:AMKR) is an American provider of semiconductor packaging and test services. The stock is ranked high among the best cheap semiconductor stocks to buy now. As of April 14, Amkor Technology, Inc. (NASDAQ:AMKR) has a trailing twelve-month PE ratio of 7.77 and has returned 35.67% to investors over the past 6 months.
At the close of the fourth quarter of 2022, 25 hedge funds were long Amkor Technology, Inc. (NASDAQ:AMKR) and held collective positions worth $214 million in the company. Of those, SW Investment Management was the top investor in the company and held a stake worth $71 million.
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2. Vishay Intertechnology (NYSE:VSH)
PE Ratio (TTM) as of April 14: 7.26
Number of Hedge Fund Holders: 22
Vishay Intertechnology (NYSE:VSH) is an American manufacturer of semiconductors and passive electronic components. The company has six business divisions: Metal Oxide Semiconductor Field Effect Transistors (MOSFETs), Diodes, Optoelectronic Components, Resistors, Inductors, and Capacitors.
As of April 14, Vishay Intertechnology (NYSE:VSH) has gained 14.56% over the past 6 months and is trading at a TTM PE multiple of 7x. The stock is one of the best undervalued semiconductor stocks to buy now.
Vishay Intertechnology (NYSE:VSH) was a part of 22 investors’ portfolios at the end of the fourth quarter of 2022. These funds held collective positions worth $362 million in the company. As of December 31, AQR Capital Management is the leading investor in the company and has a stake worth $81.5 million.
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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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