Goldman Sachs Semiconductor Stocks: Top 5 Stocks

In this piece, we will take a look at Goldman Sachs’ top five semiconductor stock picks. If you want to learn more about the investment bank and the chip sector, then read Goldman Sachs Semiconductor Stocks: Top 12 Stocks.

5. Marvell Technology, Inc. (NASDAQ:MRVL)

Goldman Sachs’ Q2 2023 Investment: $1 billion

Marvell Technology, Inc. (NASDAQ:MRVL) provides chips for data center use. It’s one of the few stocks on our list that have been rated as Strong Buy on average by analysts and the average share price target prices in a $19 upside to the share price.

By June 2023 end, 59 out of the 910 hedge funds part of Insider Monkey’s survey had bought Marvell Technology, Inc. (NASDAQ:MRVL)’s shares. David Goel and Paul Ferri’s Matrix Capital Management owns the biggest stake among these which is worth $510 million.

4. Applied Materials, Inc. (NASDAQ:AMAT)

Goldman Sachs’ Q2 2023 Investment: $1 billion

Applied Materials, Inc. (NASDAQ:AMAT) is another backend chip company that sells manufacturing equipment and services. Its shares were in for some good news in October as Needham upgraded the stock to Buy from Hold and set a $180 share price target based on order shipment forecasts.

During Q2 2023, 72 among the 910 hedge funds tracked by Insider Monkey were the firm’s shareholders. Applied Materials, Inc. (NASDAQ:AMAT)’s largest shareholder out of these is David Blood and Al Gore’s Generation Investment Management since it owns $1.2 billion worth of shares.

3. Texas Instruments Incorporated (NASDAQ:TXN)

Goldman Sachs’ Q2 2023 Investment: $1.4 billion

Texas Instruments Incorporated (NASDAQ:TXN) makes and sells power management, sensors, and other chip products. The firm expanded its American chip manufacturing footprint in November 2023 as it announced a new facility in Utah.

Insider Monkey dug through 910 hedge funds for their June quarter of 2023 shareholdings and discovered that 56 had bought Texas Instruments Incorporated (NASDAQ:TXN)’s shares. David Blood and Al Gore’s Generation Investment Management owns the biggest stake among these, which is worth $777 million.

2. Broadcom Inc. (NASDAQ:AVGO)

Goldman Sachs’ Q2 2023 Investment: $1.9 billion

Broadcom Inc. (NASDAQ:AVGO) focuses its efforts on developing smartphone connectivity modules and other associated products. It is currently in the middle of a long drawn process to acquire cloud computing firm VMWare for a whopping $61 billion price tag and management shared in October 2023 that it expects the deal to close despite Chinese hurdles.

For their second quarter of 2023 shareholdings, 72 out of the 910 hedge funds polled by Insider Monkey had held a stake in the firm. Broadcom Inc. (NASDAQ:AVGO)’s largest stakeholder is Ken Fisher’s Fisher Asset Management as it owns 1.9 million shares that are worth $1.6 billion.

1. NVIDIA Corporation (NASDAQ:NVDA)

Goldman Sachs’ Q2 2023 Investment: $6.3 billion

NVIDIA Corporation (NASDAQ:NVDA) is the darling of the semiconductor world due to its high powered AI chips. These days, there are some worries that late stage manufacturing capacity for these chips, dubbed packaging, might be short and lead to some order shortfalls.

During Q2 2023, 175 out of the 910 hedge funds part of Insider Monkey’s survey had invested in NVIDIA Corporation (NASDAQ:NVDA). Rajiv Jain’s GQG Partners owns the biggest stake among these, which is worth $5.8 billion.

Disclosure: None. You can also take a look at 14 Best Cyclical Stocks To Invest In and Warren Buffett Dividend Stocks by Sectors and Industries.

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