5 Semiconductor Stocks to Buy Now

In this article, we discuss 5 semiconductor stocks to buy now. If you want to see more stocks in this list, click “This is When You Get Bullish”: 10 Semiconductor Stocks to Buy Now. 

5. QUALCOMM Incorporated (NASDAQ:QCOM)

Number of Hedge Fund Holders: 73

QUALCOMM Incorporated (NASDAQ:QCOM) is an American multinational company that designs and specializes in semiconductors, software, and wireless technology. On July 8, TF International Securities analyst Ming-Chi Kuo reported that QUALCOMM Incorporated (NASDAQ:QCOM) will potentially be the sole supplier to provide the processor for Samsung’s next flagship smartphone, the Galaxy S23. He also mentioned on June 28 that the company’s chips will be used in Apple Inc. (NASDAQ:AAPL)’s next-gen iPhones after Apple had issues with its own chips. These are positive catalysts for QUALCOMM Incorporated (NASDAQ:QCOM). 

BofA added QUALCOMM Incorporated (NASDAQ:QCOM) to its “US 1 List” on June 28, which represents a collection of the firm’s top investment ideas from the list of Buy-rated, U.S. listed stocks assessed by its equity analysts.

Among the hedge funds tracked by Insider Monkey, 73 funds were bullish on QUALCOMM Incorporated (NASDAQ:QCOM) at the end of Q1 2022, compared to 75 funds in the previous quarter. 

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).”