10 Cheap Semiconductor Stocks to Buy Now

4. Monolithic Power Systems, Inc. (NASDAQ:MPWR)

Number of Hedge Fund Holders: 51

P/E: 14.85

Monolithic Power Systems, Inc. (NASDAQ:MPWR) is a leading fabless semiconductor company specializing in high-performance, energy-efficient power solutions for a range of industrial, cloud computing, automotive, and consumer applications. Headquartered in Kirkland, Washington, Monolithic Power Systems, Inc. (NASDAQ:MPWR) leverages its advanced technologies to serve global markets with cutting-edge power management solutions. It is among the best cheap semiconductor stocks to buy now.

For the full year, Monolithic Power Systems, Inc. (NASDAQ:MPWR) reported total revenue of $2.21 billion, marking a robust 21.2% increase year-over-year, while fourth-quarter revenue held steady at $621.66 million. Net income surged an impressive 318.06% year-over-year to $1.79 billion, with Q4 net income at $1.45 billion, maintaining strong momentum quarter-over-quarter. The company has delivered an outstanding 5-year sales growth return of 225.30%, underscoring its consistent operational strength.

Investor sentiment remains positive, with 74% of 19 analysts rating the stock a “Buy.” The median price target stands at $762.50, implying a potential upside of 30.63%. Stifel Nicolaus analyst Tore Svanberg recently reaffirmed a “Buy” rating with a bullish $880.00 price target. Monolithic Power Systems, Inc. (NASDAQ:MPWR) advanced 8.15% to close at $580.75 on April 24, outperforming the broader market and marking their third consecutive day of gains. The company will report its Q1 2025 earnings soon, keeping investor interest high.