In this article, we will look at the 9 Best American Semiconductor Stocks to Buy According to Analysts.
American semiconductor stocks remain at the center of the AI trade, but the story is no longer just about one chipmaker or one product cycle. The buildout now runs through graphics processors, networking chips, memory, power management, custom silicon, and the equipment needed to manufacture more advanced chips. Capital Group puts it directly, saying “At the heart of the AI infrastructure build-out are semiconductors” and that the cycle is creating “historic opportunities for companies across the semiconductor complex.”
Fidelity International points to “The emergence of AI as a demand driver in semiconductors” and says it “will continue to cause supply/demand tightness across many areas of technology hardware.” Janus Henderson makes a similar point, arguing that “AI demand is running well ahead of supply” and that “Supply at nearly every layer of the stack, from memory to compute to power, still cannot keep pace with demand.” In summary, the semiconductor opportunity is still being supported by real bottlenecks, not just investor excitement.
That said, the more interesting American semiconductor stocks are those with exposure to durable AI spending, critical supply-chain bottlenecks, and room for continued earnings revisions. With that in mind, let’s take a look at the 9 Best American Semiconductor Stocks to Buy According to Analysts.
Our Methodology
We used the Finviz screener to identify American semiconductor stocks that offer notable upside from analysts’ price targets. We then limited our final selection to companies that have recently reported noteworthy developments likely to impact investor sentiment. These stocks are also popular among analysts and elite hedge funds.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 498.7% since May 2014, beating its benchmark by 303 percentage points (see more details here).
9. SiTime Corporation (NASDAQ:SITM)
On May 7, 2026, Roth Capital raised the firm’s price target on SiTime Corporation (NASDAQ:SITM) to $900 from $450 while maintaining a Buy rating. The firm said the company delivered above-seasonal Q1 results, with revenue growing nearly 90% year over year, driven by particularly strong growth in its Communications, Enterprise, and Data Center segments. Roth added that it remains encouraged by the breadth of SiTime’s AI data center positioning as well as expansion opportunities beyond the data center market.
Meanwhile, Barclays analyst Tom O’Malley upgraded SiTime Corporation to Overweight from Equal Weight and raised the price target to $850 from $400 following the Q1 report. Barclays said the company’s outlook implies revenue growth of more than 80% in 2026 as content expands at existing customers and new inferencing opportunities improve growth visibility. The firm also noted that the addition of the clock business is helping round out a broader product portfolio for SiTime.
On May 6, 2026, SiTime Corporation reported Q1 non-GAAP EPS of $1.44, ahead of the $1.16 consensus estimate, while revenue totaled $113.6M compared to expectations of $103.45M. CEO Rajesh Vashist said the company’s strong start to 2026, including 88% year-over-year revenue growth, reflects continued momentum in the precision timing category created by SiTime. Vashist added that as AI infrastructure and high-performance systems expand, precision timing is increasingly becoming a system-level requirement. According to Vashist, the company’s differentiated platforms are driving higher average selling prices, stronger margins, and deeper customer engagement, positioning SiTime for its next phase of growth.
SiTime Corporation designs, develops, and sells silicon timing system solutions globally.
8. QUALCOMM Incorporated (NASDAQ:QCOM)
On May 8, 2026, Daiwa analyst Louis Miscioscia upgraded QUALCOMM Incorporated (NASDAQ:QCOM) to Outperform from Neutral and raised the firm’s price target to $225 from $140. The analyst said Qualcomm’s fiscal Q2 results were mixed, with strong growth in Automotive and IoT offset by weaker handset performance and softer Q3 guidance. Daiwa added that investor attention is increasingly shifting toward Qualcomm’s emerging data center AI CPU opportunity, which could allow the company to benefit from broader Arm-based AI inference trends while trading at a relatively low valuation compared to other semiconductor names.
On the same day, Tigress Financial raised its price target on QUALCOMM Incorporated to $280 from $270 while maintaining a Buy rating. The firm said Qualcomm is becoming an increasingly attractive investment opportunity as it expands beyond wireless technologies into AI-driven connectivity across devices, vehicles, and data centers.
On May 1, 2026, Baird raised its price target on QUALCOMM Incorporated to $300 from $177 while maintaining an Outperform rating following the company’s fiscal Q1 results.
On April 29, 2026, QUALCOMM Incorporated reported fiscal Q2 EPS of $2.65, versus the $2.56 consensus estimate, while revenue totaled $10.60B compared to expectations of $10.58B. The company said results were in line with guidance and reflected solid execution despite what it described as a challenging memory environment. Qualcomm also said the rise of AI agents is reshaping its product roadmap across platforms and highlighted its entry into the data center market, where a custom silicon engagement with a leading hyperscaler remains on track for initial shipments later this year. The company said it expects to provide further updates on its data center and Physical AI initiatives during its June 24 investor day.
QUALCOMM Incorporated develops and commercializes foundational wireless technologies globally.
7. Microchip Technology Incorporated (NASDAQ:MCHP)
On May 8, 2026, KeyBanc raised the firm’s price target on Microchip Technology Incorporated (NASDAQ:MCHP) to $135 from $85 while maintaining an Overweight rating. The firm said the company delivered strong fiscal Q4 results and provided Q1 guidance above expectations, adding that key cyclical indicators continue to improve.
JPMorgan also raised its price target on Microchip Technology Incorporated to $120 from $95 while maintaining an Overweight rating. The firm described the quarter as a “clean beat across the board” with guidance that exceeded expectations.
Similarly, Raymond James analyst Melissa Fairbanks raised the firm’s price target on Microchip Technology Incorporated to $125 from $90 and maintained a Strong Buy rating. The analyst said the quarter reflected continued recovery, highlighted by inventory reductions across internal channels, distributors, and customers, as well as lower underutilization charges and longer lead times that suggest improving demand trends across the analog semiconductor industry. Raymond James added that while operating expenses are expected to rise as incentives normalize, expanding gross margins are expected to offset those costs and support continued EPS growth. The firm also pointed to Microchip’s exposure to data center and aerospace and defense markets as factors supporting a stronger cyclical recovery and improved visibility into future earnings expansion.
On May 7, 2026, Microchip Technology Incorporated reported fiscal Q4 non-GAAP EPS of 57c, versus the 50c consensus estimate, while revenue totaled $1.31B compared to expectations of $1.26B. CEO Steve Sanghi said quarterly results significantly exceeded expectations, with revenue coming in above the high end of guidance and increasing 10.6% sequentially and 35.1% year over year. Sanghi added that the company ended the fiscal year with strong momentum as demand conditions improved and customer inventory levels normalized. According to Sanghi, Microchip is seeing stronger booking and sell-through trends, increased expedited activity, and meaningful operating leverage as the company executes on its recovery strategy.
Microchip Technology Incorporated develops, manufactures, and sells embedded control solutions across the Americas, Europe, and Asia.
6. Advanced Micro Devices, Inc. (NASDAQ:AMD)
On May 7, 2026, Rackspace Technology and Advanced Micro Devices, Inc. (NASDAQ:AMD) announced the signing of a memorandum of understanding outlining a multiyear strategic partnership focused on building an Enterprise AI Cloud designed for regulated enterprises and sovereign AI workloads. The companies said the partnership aims to move away from the traditional model where enterprises rent GPU capacity while managing integration, security, and operations themselves. Instead, the collaboration would integrate AMD Instinct GPUs and EPYC CPUs into a fully managed and governed infrastructure stack operated by Rackspace.
Under the proposed framework, Rackspace would manage the platform from hardware through application outcomes, with the companies targeting a complete AI infrastructure offering that includes bare metal compute, inference tooling, managed runtime services, and governed AI cloud operations tailored to enterprise sovereignty, performance, and compliance requirements.
On May 6, 2026, Susquehanna analyst Christopher Rolland raised the firm’s price target on Advanced Micro Devices, Inc. to $450 from $375 while maintaining a Positive rating. The firm said AMD now expects the server CPU total addressable market to be twice as large as previously anticipated amid rising demand tied to agentic AI. Susquehanna also noted that the company’s MI450 launch remains on track for the second half of 2026.
Truist also raised its price target on Advanced Micro Devices, Inc. to $478 from $283 while maintaining a Buy rating. The firm said AMD delivered strong Q1 results and Q2 guidance, while continued momentum around AI GPU adoption reinforced its bullish thesis. Truist added that management indicated demand for MI450 and Helio products in 2027 appears stronger than it did in the prior quarter.
Advanced Micro Devices, Inc. operates as a semiconductor company serving the data center, client and gaming, and embedded markets globally.
5. GLOBALFOUNDRIES Inc. (NASDAQ:GFS)
On May 7, 2026, GLOBALFOUNDRIES Inc. (NASDAQ:GFS) said during its Investor Day that it sees durable growth opportunities tied to AI-centric markets, supported by an expanding technology roadmap focused on scaling AI data centers and enabling AI applications in the physical world through its global manufacturing footprint. The company also announced that its board approved GlobalFoundries’ first quarterly dividend. The dividend of 12c per share will be payable on July 14 to shareholders of record as of June 24.
GLOBALFOUNDRIES Inc. additionally introduced a new capital allocation framework targeting returns of up to 50% of trailing twelve-month non-IFRS adjusted free cash flow, after investments, through dividends and share repurchases. CEO Tim Breen said the company remains positioned around several long-term trends reshaping the semiconductor industry and is focusing on areas where customers require differentiated technologies and manufacturing scale. CFO Sam Franklin added that the company’s updated long-term financial framework reflects confidence in multiple growth drivers across higher-margin businesses through the remainder of the decade.
On May 6, 2026, Baird raised its price target on GLOBALFOUNDRIES Inc. to $100 from $60 while maintaining an Outperform rating. The firm said it updated its model following Q1 results and expects continued gross margin improvement.
On May 5, 2026, GLOBALFOUNDRIES Inc. reported Q1 EPS of 40c, versus the 35c consensus estimate, while revenue totaled $1.64B compared to expectations of $1.63B. Breen said the company delivered strong first-quarter results, with all non-IFRS profitability metrics reaching or exceeding the high end of guidance ranges. He added that execution across the business helped drive progress in secular growth markets where the company’s differentiated technologies are supporting market share gains and long-term value creation.
GLOBALFOUNDRIES Inc. operates as a semiconductor foundry providing wafer fabrication services and technologies globally.
4. ON Semiconductor Corporation (NASDAQ:ON)
On May 5, 2026, Roth Capital raised the firm’s price target on ON Semiconductor Corporation (NASDAQ:ON) to $125 from $70 while maintaining a Buy rating. The firm said Q1 revenue came in ahead of consensus expectations and noted that Q2 guidance points to renewed growth, supported by improving automotive demand and momentum from AI data center program wins.
Deutsche Bank also raised its price target on ON Semiconductor Corporation to $110 from $75 while maintaining a Buy rating. The firm said the Q1 report suggests the company has reached an inflection point.
Similarly, Jefferies raised its price target on ON Semiconductor Corporation to $115 from $73 and maintained a Buy rating. The firm said softness in automotive markets may limit near-term upside, though trends across the broader business are improving. Jefferies also noted that the company’s AI data center business continues to outperform, with newer products driving higher semiconductor content opportunities per XPU deployment.
On May 4, 2026, ON Semiconductor Corporation reported Q1 non-GAAP EPS of 64c, versus the 62c consensus estimate, while revenue totaled $1.51B compared to expectations of $1.49B. CEO Hassane El-Khoury said the company exceeded expectations as demand strengthened throughout the quarter and added that ON Semi has moved beyond the cyclical trough and is now entering a recovery phase. El-Khoury also said the company’s AI data center business accelerated during the quarter, growing more than 30% sequentially. He added that management remains encouraged by the overall health of the business and the longer-term opportunities tied to rising semiconductor content across automotive, industrial, and AI data center applications.
ON Semiconductor Corporation provides intelligent sensing and power solutions globally.
3. Astera Labs, Inc. (NASDAQ:ALAB)
On May 6, 2026, Needham raised the firm’s price target on Astera Labs, Inc. (NASDAQ:ALAB) to $260 from $220 while maintaining a Buy rating. The firm said the company delivered another significant beat-and-raise quarter, driven by continued growth across its Scorpio, Aries, and Taurus product families. Needham also noted that Astera Labs expects its optical portfolio to begin ramping in FY27, leveraging technology acquired through the aiXscale transaction.
Roth Capital also raised its price target on Astera Labs, Inc. to $275 from $225 while maintaining a Buy rating. The firm said the company posted another strong revenue beat and guidance increase, supported by ongoing PCIe retimer growth and increasing contributions from PCIe switch products.
Similarly, RBC Capital raised its price target on Astera Labs, Inc. to $270 from $250 and maintained an Outperform rating. RBC said the quarter was driven by generative AI demand and continued new product ramps. The firm added that Astera Labs’ core PCIe retimer business continues to benefit from the transition to Gen6, while Scorpio-P switch revenue exceeded 20% of total sales during the quarter, with two additional customer ramps expected later this year.
On May 5, 2026, Astera Labs, Inc. reported Q1 EPS of 61c, ahead of the 54c consensus estimate, while revenue totaled $308.36M compared to expectations of $292.32M. CEO Jitendra Mohan said revenue grew 14% sequentially and 93% year over year to a record $308.4M, driven by strong demand for the company’s PCIe 6 portfolio. Mohan added that adoption of Astera Labs’ Intelligent Connectivity Platform continues to expand through initial shipments of the Scorpio X-Series 320-lane AI scale-up fabric switch, additional design engagements for custom and optical solutions, and growing market share across the company’s PCIe switch and Smart Cable Module portfolio. Mohan also said the company continues investing to strengthen its position in rack-scale AI infrastructure technologies alongside customers.
Astera Labs, Inc. designs, manufactures, and sells semiconductor-based connectivity solutions for cloud and AI infrastructure.
2. MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI)
On May 8, 2026, Northland analyst Tim Savageaux raised the firm’s price target on MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) to $375 from $300 while maintaining an Outperform rating following what the firm described as a “solidly better” fiscal Q2 and a “step function upside” in Q3 guidance.
Jefferies analyst Blayne Curtis also raised the firm’s price target on MACOM Technology Solutions Holdings, Inc. to $450 from $295 and maintained a Buy rating after what the firm called a “breakout quarter.” Jefferies said it continues to see upside in the company’s Data Center segment, as well as in Industrial and Defense markets amid expanding defense budgets and stronger expected low-earth orbit satellite deployment activity in FY27.
On May 7, 2026, MACOM Technology Solutions Holdings, Inc. reported fiscal Q2 adjusted EPS of $1.09, versus the $1.07 consensus estimate, while revenue totaled $288.96M compared to expectations of $284.59M. President and CEO Stephen Daly said the company was pleased with its first-half fiscal year performance and expects strong revenue growth and profitability in the second half of the year.
MACOM Technology Solutions Holdings, Inc. provides analog semiconductor solutions used in wireless and wireline applications across radio frequency, microwave, millimeter wave, and lightwave technologies.
1. NVIDIA Corporation (NASDAQ:NVDA)
On May 7, 2026, NVIDIA Corporation (NASDAQ:NVDA) and Iren announced a strategic partnership aimed at accelerating the deployment of next-generation AI infrastructure. Under the agreement, the companies plan to support the deployment of up to 5 gigawatts of NVIDIA DSX-aligned AI infrastructure across Iren’s data center pipeline over time. The companies said they will collaborate on deploying NVIDIA accelerated computing within DSX AI factories to expand access for AI-native startups and enterprise customers. As part of the agreement, Iren granted NVIDIA a five-year right to purchase up to 30 million ordinary shares at an exercise price of $70 per share, representing a potential investment of up to $2.1B.
NVIDIA Corporation and Iren said future deployments are expected to center around Iren’s 2-gigawatt Sweetwater campus in Texas, which is expected to serve as a flagship deployment site for NVIDIA’s DSX architecture. The companies added that the partnership combines NVIDIA’s AI factory architecture with Iren’s expertise in power, land, data centers, GPU deployment, and infrastructure operations.
On May 6, 2026, NVIDIA Corporation and Corning Incorporated announced a multiyear commercial and technology partnership focused on expanding U.S.-based manufacturing of optical connectivity products used in AI infrastructure. Corning said it plans to increase domestic optical connectivity manufacturing capacity by 10x and expand U.S. fiber production capacity by more than 50% to meet demand from AI infrastructure buildouts. The expansion includes three new manufacturing facilities in North Carolina and Texas and is expected to create more than 3,000 jobs. NVIDIA founder and CEO Jensen Huang said AI is driving what he described as the largest infrastructure buildout in modern history and highlighted the partnership’s role in strengthening U.S. manufacturing and supply chains.
Last month, NVIDIA Corporation also introduced NVIDIA Ising, a family of open-source quantum AI models designed to help researchers and enterprises develop quantum processors capable of supporting practical applications. The company said the models are intended to improve quantum error correction and calibration while integrating with the NVIDIA CUDA-Q hybrid quantum-classical computing platform and NVQLink QPU-GPU hardware interconnect.
NVIDIA Corporation operates as a data center-scale AI infrastructure company through its Compute & Networking and Graphics segments.
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