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5 Undervalued Semiconductor Stocks To Buy According to Hedge Funds

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In this article, we will be taking a look at 11 undervalued semiconductor stocks to buy according to hedge funds. To skip our detailed analysis of the semiconductor sector, you can go directly to see the 11 Undervalued Semiconductor Stocks To Buy According to Hedge Funds.

5. Microchip Technology Incorporated (NASDAQ:MCHP)

Number of Hedge Fund Holders: 43

P/E Ratio: 20.2

Microchip Technology Incorporated (NASDAQ:MCHP) develops smart, connected, and secure embedded control solutions. It offers microcontrollers, mixed-signal microprocessors, and specialized microcontrollers.

As of March 14, Stifel analysts hold a Buy rating and $94 price target on Microchip Technology Incorporated (NASDAQ:MCHP).

At the end of the fourth quarter, 43 hedge funds were long Microchip Technology Incorporated (NASDAQ:MCHP), with a total stake value of $839.5 million.

Weitz Investment Management mentioned Microchip Technology Incorporated (NASDAQ:MCHP) in its third-quarter 2023 investor letter:

“We added a new position in Microchip Technology, Inc., (NASDAQ:MCHP) to the Fund during the quarter. Microchip is a leading provider of mixed signal microcontrollers and analog semiconductors to a broad range of industrial, data center, automotive, communication and consumer appliance customers. The company enjoys favorable product characteristics that help drive strong profitability, and it benefits from several long-wave demand tailwinds such as electronification, automation, and growth in data communications. While Microchip is not immune from semiconductor cycles, its cash flows have been durable through cycles. The multi-year outlook is solid, and we think the company is poised to further boost per-share value growth through increasing share repurchases at discounted prices.

Follow Microchip Technology Inc (NASDAQ:MCHP)

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AI Fire Sale: Insider Monkey’s #1 AI Stock Pick Is On A Steep Discount

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Disruption is the New Name of the Game: Let’s face it, complacency breeds stagnation.

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A New Dawn is Coming to U.S. Stocks

I work for one of the largest independent financial publishers in the world – representing over 1 million people in 148 countries.

We’re independently funding today’s broadcast to address something on the mind of every investor in America right now…

Should I put my money in Artificial Intelligence?

Here to answer that for us… and give away his No. 1 free AI recommendation… is 50-year Wall Street titan, Marc Chaikin.

Marc’s been a trader, stockbroker, and analyst. He was the head of the options department at a major brokerage firm and is a sought-after expert for CNBC, Fox Business, Barron’s, and Yahoo! Finance…

But what Marc’s most known for is his award-winning stock-rating system. Which determines whether a stock could shoot sky-high in the next three to six months… or come crashing down.

That’s why Marc’s work appears in every Bloomberg and Reuters terminal on the planet…

And is still used by hundreds of banks, hedge funds, and brokerages to track the billions of dollars flowing in and out of stocks each day.

He’s used this system to survive nine bear markets… create three new indices for the Nasdaq… and even predict the brutal bear market of 2022, 90 days in advance.

Click to continue reading…