5 Undervalued Chip Stocks To Buy Today

In this piece, we’ll take a look at the 5 Undervalued Chip Stocks To Buy. For more such companies, go to 10 Undervalued Chip Stocks To Buy.

5. QUALCOMM Incorporated (NASDAQ:QCOM)

Number of Recent Mentions: 5

Number of Hedge Fund Holders: 80

QUALCOMM Incorporated (NASDAQ:QCOM) is a global technology company that designs, develops, and manufactures a wide range of wireless technology and mobile communication products. QUALCOMM Incorporated (NASDAQ:QCOM) is a leading provider of wireless technology and mobile communication products, including wireless modems, processors, and RF transceivers. The company’s products are used in a variety of applications, including smartphones, tablets, and other mobile devices, as well as in a range of industries, including automotive, healthcare, and industrial.

On November 3, 2022, T. Michael Walkley, an analyst at Canaccord, reduced his price target on QUALCOMM Incorporated (NASDAQ:QCOM) to $165 while keeping a Buy rating on the company’s stock. The analyst has reduced targets based on the decline in smartphone demand and excess channel inventory.

As per Insider Monkey’s database, 80 hedge funds owned stakes in QUALCOMM Incorporated (NASDAQ:QCOM) at the end of the third quarter. Matrix Capital Management remained the leading stakeholder of the company at the end of Q3 2022.