5 Undervalued Semiconductor Stocks To Buy Now

In this article, we will take a look at the 5 undervalued semiconductor stocks to buy now. If you want to explore similar stocks, you can go to 10 Undervalued Semiconductor Stocks To Buy Now.

5. QUALCOMM, Incorporated (NASDAQ:QCOM)

PE Ratio (TTM) as of April 14: 11.51

Number of Hedge Fund Holders: 82

On March 16, Susquehanna analyst Christopher Rolland upgraded QUALCOMM, Incorporated (NASDAQ:QCOM) to Positive from Neutral and maintained a $140 price target.

As of April 14, QUALCOMM, Incorporated (NASDAQ:QCOM) is trading at a TTM PE ratio of 11.51 and has returned 12.09% to investors on a year-to-date basis. The stock is placed fifth on our list of the best cheap semiconductor stocks to buy now.

QUALCOMM, Incorporated (NASDAQ:QCOM) was spotted on 82 hedge funds’ portfolios at the close of the fourth quarter of 2022. These funds disclosed positions worth $37.5 billion in the company. As of December 31, Matrix Capital Management is the largest shareholder and holds a position worth $366 million.

Here is what Madison Funds had to say about QUALCOMM Incorporated (NASDAQ:QCOM) in its fourth-quarter 2022 investor letter:

“QUALCOMM Incorporated (NASDAQ:QCOM) continues to be challenged by headwinds in the smartphone supply chain with an expected decline in units for 2022. Despite solid gains in the Internet of Things and Auto segments, Qualcomm’s dominant business remains the smartphone market. We expect to see stabilization of the smartphone market in 2023, including a recovery in China.”