5 Best Semiconductor Penny Stocks to Buy

In this piece, we will take a look at the five best semiconductor penny stocks to buy. If you want to take a look at what’s happening in the semiconductor industry these days, head on over to 10 Best Semiconductor Penny Stocks to Buy.

5. Pixelworks, Inc. (NASDAQ:PXLW)

Number of Hedge Fund Investors In Q1 2023: 7

Pixelworks, Inc. (NASDAQ:PXLW) focuses its attention on designing and selling semiconductors that are used in display devices. Its products include image processors and digital signals processors for display systems, processors for smartphones, and other products that manage image display on screens.

As of 2023’s first quarter, seven of the 943 hedge funds part of Insider Monkey’s database had held a stake in Pixelworks, Inc. (NASDAQ:PXLW). D. E. Shaw’s D E Shaw is the firm’s largest hedge fund shareholder, owning 535,367 shares that are worth $792,343.

4. AXT, Inc. (NASDAQ:AXTI)

Number of Hedge Fund Investors In Q1 2023: 9

AXT, Inc. (NASDAQ:AXTI) is a backend semiconductor company. It primarily provides semiconductor substrates to chipmakers. Substrates are layers that are placed on top of a silicon wafer, and these host a complex series of circuits for a multitude of use cases such as data centers, night vision goggles, and WiFi products.

Insider Monkey took a look at 943 hedge funds for their Q1 2023 shareholdings to discover that nine had invested in the company. AXT, Inc. (NASDAQ:AXTI)’s biggest shareholder in our database is Chuck Royce’s Royce & Associates with a $4.9 million stake.

3. Sequans Communications S.A. (NYSE:SQNS)

Number of Hedge Fund Investors In Q1 2023: 9

Sequans Communications S.A. (NYSE:SQNS) is a rare French semiconductor company. It designs and sells basebands, transceivers, and other products for use in cellular devices to provide LTE and other connectivity options. Sequans Communications S.A. (NYSE:SQNS) operates out of Paris, France.

As of 2023’s March quarter, nine of the 943 hedge funds part of Insider Monkey’s database had bought and owned a stake in Sequans Communications S.A. (NYSE:SQNS). Out of these, the firm’s largest investor is Cynthia Paul’s Lynrock Lake with a $9.4 million investment.

2. Valens Semiconductor Ltd. (NYSE:VLN)

Number of Hedge Fund Investors In Q1 2023: 11

Valens Semiconductor Ltd. (NYSE:VLN) is an Israeli firm headquartered in Hod Hasharon. Its products enable the consolidation of display, audio, and other signals in a single cable for use in different applications such as smart vehicles and entertainment systems.

Insider Monkey dug through 943 hedge funds for their first quarter of 2023 shareholdings to find out that 11 had invested in Valens Semiconductor Ltd. (NYSE:VLN). Like some other semiconductor penny stocks on our list, there’s quite a bit of share price upside here as well, with a consensus analyst price target of $6 significantly higher than the trading price of $2.53.

1. EMCORE Corporation (NASDAQ:EMKR)

Number of Hedge Fund Investors In Q1 2023: 12

EMCORE Corporation (NASDAQ:EMKR) is one of the more critical semiconductor companies. It manufactures positioning and signals products that are used in mission critical systems such as artillery surveys, radar positioning, and navigation systems.

12 of the 943 hedge funds polled by Insider Monkey for their Q1 2023 shareholdings had bought the firm’s shares. George Mccabe’s Portolan Capital Management is EMCORE Corporation (NASDAQ:EMKR)’s largest hedge fund investor, owning a stake that is worth $3.5 million.

Disclosure: None. You can also take a look at 10 Dow Stocks Billionaires Are Loading Up On and 10 Undervalued Semiconductor Stocks To Buy Now.

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