5 Best Semiconductor Stocks To Buy Now

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In this piece, we’ll take a look at the 5 Best Semiconductor Stocks To Buy Now. For more such companies, go to 12 Best Semiconductor Stocks To Buy Now.

5. QUALCOMM Incorporated (NASDAQ:QCOM)

Forward P/E ratio as of December 15: 12.15

Number of Hedge Fund Holders: 80

QUALCOMM Incorporated (NASDAQ:QCOM) develops and licenses wireless technologies and chips for smartphones. The primary technologies covered by the company’s patents are CDMA and OFDMA, which are wireless communications protocols that form the basis of all 3G and 4G networks.

On November 15, 2022, Chris Caso, an analyst at Credit Suisse, started covering QUALCOMM Incorporated (NASDAQ:QCOM) with a price target of $150 and an Outperform rating on the stock. As per the analyst, QUALCOMM Incorporated (NASDAQ:QCOM) is well-positioned going ahead as compared with other chipmakers.

According to Insider Monkey’s database, 80 hedge funds held shares of the company at the end of the third quarter of 2022. Matrix Capital Management was the most bullish fund on the company’s stock at the end of Q3 2022.

Here is what ClearBridge Investments Large Cap Value Strategy has to say about QUALCOMM Incorporated (NASDAQ:QCOM) in its Q4 2021 investor letter:

Market strength continued in the fourth quarter, with only the communication services sector down in the Russell 1000 Value Index. Portfolio returns benefited from the strong performance of semiconductor maker Qualcomm, which has executed exceptionally well in pursuing the transition to 5G, growing both content and share due to its leadership position in cellular technology. The chipmaker recently outlined a number of peripheral growth opportunities outside of mobile markets, including automotive (where it hopes to leverage its strong presence in the automotive infotainment space into advanced driver assistance systems), Internet of Things (including opportunities in the PC market, VR/AR market, and factory automation) and radio frequency (where mmWave adoption globally, including China, would drive substantial upside).

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