In this article, we will list the Renaissance Technologies Returns, AUM, CEO, and Top 5 Semiconductor Stock Picks. Please visit Renaissance Technologies Returns, AUM, CEO, and Top 10 Semiconductor Stock Picks if you would like to see the extended list and the methodology behind it.
5. Broadcom Inc (NASDAQ:AVGO)
Renaissance Technologies Equity Stake: $245.69 Million
Number of Hedge Fund Holders: 173
Broadcom Inc (NASDAQ:AVGO) is one of Renaissance Technologies’ top semiconductor stock picks. Broadcom shares have gained more than 20% year-to-date and soared around 80% over the past 12 months.
On May 26, Broadcom Inc (NASDAQ:AVGO) announced the launch of a new broadband technology designed to support AI applications and next-generation home networks.
The company introduced the BCM68850, which it described as a 50G PON home gateway system-on-chip. It said this system-on-chip includes an integrated neural processing unit and support for Wi-Fi 8. This product is designed to help network operators manage growing broadband traffic and AI workloads at the network edge.
According to Broadcom, the platform is intended to support applications that require high bandwidth and low latency. It said the system processes large amounts of data in short bursts to reduce congestion and maintain stable network performance.
The BCM68850 is part of Broadcom’s 50G PON portfolio. It joins the company’s offerings, such as the BCM68660 optical line terminal chip and the BCM55050 optical network terminal platform. Broadcom said the latest launch completes its end-to-end 50G broadband offering.
Broadcom said the new system also includes built-in AI processing capabilities. This enables it to support edge computing tasks, predictive network management, and enhanced security features.
Broadcom Inc (NASDAQ:AVGO) designs, develops, and supplies a wide array of semiconductor components software for modern computing. It also offers infrastructure software solutions. Broadcom’s products are used in data center, networking, storage, and broadband markets.
4. Western Digital Corp (NASDAQ:WDC)
Renaissance Technologies Equity Stake: $310.02 Million
Number of Hedge Fund Holders: 83
Western Digital Corp (NASDAQ:WDC) is one of Renaissance Technologies’ top semiconductor stock picks. Western Digital shares have gained around 180% year-to-date and soared more than 900% over the past year.
On May 26, Evercore ISI boosted its price target on Western Digital Corp (NASDAQ:WDC) shares to $575 from $410 while keeping an Outperform rating on the stock. The firm cited the company’s important role in the expanding artificial intelligence infrastructure market.
According to Evercore, the hard disk drive (HDD) industry remains an important but often overlooked part of the AI infrastructure buildout. The firm believes that rising demand for data storage due to expanding AI workloads can support strong long-term growth of the HDD market.
Evercore said the HDD industry could sustain more than 20% compound annual sales growth and more than 30% compound annual EPS growth over the medium term.
According to the firm, Western Digital’s revenue growth could outpace exabyte growth, while earnings growth could exceed revenue growth over the medium term. The firm expects this performance to be supported by capital allocation and margin expansion efforts.
Evercore’s comments on WDC stock came after it hosted investor meetings with Western Digital’s investor relations team. The firm said its price target hike reflects a more positive view of the company’s growth outlook.
California-based Western Digital Corp (NASDAQ:WDC) is a global data storage company.
3. Intel Corp (NASDAQ:INTC)
Renaissance Technologies Equity Stake: $326.54 Million
Number of Hedge Fund Holders: 112
Intel Corp (NASDAQ:INTC) is one of Renaissance Technologies’ top semiconductor stock picks. The stock has been a big winner for investors, returning 200% year-to-date and more than 476% over the past year.
On May 20, Mizuho reaffirmed a Neutral rating on Intel Corp (NASDAQ:INTC) stock with a price target of $124. For this action, the firm cited comments from Intel CEO Lip-Bu Tan.
Speaking at the 2026 JPMorgan Global Technology, Media and Communications Conference on May 19, Tan discussed various efforts the management is making to reinvent Intel. Among them are changes in the company’s approach to electronic design automation (EDA) tools and intellectual property strategy.
According to Mizuho analyst Siti Panigrahi, Intel is moving to streamline its large internal EDA operations. In particular, the company is focusing on areas where internally developed technology doesn’t offer a clear advantage over industry-standard solutions. Mizuho noted that Tan’s remarks provided further insight into how Intel is balancing internal EDA technology with third-party solutions as part of its business strategy adjustments.
The Intel chief used the conference to highlight broader operational changes at the company aimed at speeding up decision-making. Tan said Intel has reduced management layers from 12 to five and reorganized its engineering leadership. All these are part of the efforts to simplify operations and accelerate problem-solving across the business.
Intel Corp (NASDAQ:INTC) designs, manufactures, and sells semiconductor chips and other hardware components used in personal computers, servers, and data centers. The company also provides foundry services, where it manufactures chips for other companies.
2. Nvidia Corp (NASDAQ:NVDA)
Renaissance Technologies Equity Stake: $440.70 Million
Number of Hedge Fund Holders: 275
Nvidia Corp (NASDAQ:NVDA) is one of Renaissance Technologies’ top semiconductor stock picks. Nvidia shares have gained around 60% over the past year.
Nvidia Corp (NASDAQ:NVDA) is expanding its presence in the enterprise artificial intelligence market through partnerships that help businesses deploy private AI systems powered by its chips and software. On May 26, ePlus announced that it has launched a private AI infrastructure managed service built with Nvidia technologies. It said this solution includes Nvidia accelerated computing clusters in colocation facilities.
This solution is aimed at enterprises seeking dedicated AI infrastructure that offers greater control and improved security. It spares enterprises the complexity and expenses of building and managing such infrastructure on their own. According to ePlus, this offering is designed to make AI more accessible and to accelerate its value across industries.
This launch highlights Nvidia’s deepening ties with certified partners to expand the adoption of its AI infrastructure products. As a certified Nvidia partner, ePlus can leverage Nvidia platforms to help enterprises speed up the development and deployment of AI systems. ePlus holds Nvidia DGX SuperPOD Specialization and DGX-Ready Managed Services Provider status.
Nvidia Corp (NASDAQ:NVDA) builds and sells graphics processing units used in data centers, AI systems, autonomous cars, and other applications. Nvidia also provides software solutions that go along with its chips. The company was founded in 1993 and is based in California.
1. Micron Technology Inc (NASDAQ:MU)
Renaissance Technologies Equity Stake: $730.74 Million
Number of Hedge Fund Holders: 154
Micron Technology Inc (NASDAQ:MU) is one of Renaissance Technologies’ top semiconductor stock picks. Micron shares have gained more than 180% year-to-date and surged 830% over the past year.
On May 26, Mizuho reaffirmed an Outperform rating on Micron Technology Inc (NASDAQ:MU) stock with a price target of $800 on the shares. This action followed Mizuho’s meeting with Micron executives, with the firm citing strong demand for memory chips driven by artificial intelligence applications.
The firm stated that growing AI adoption is creating an undersupplied memory market, adding that this situation could continue through 2026 and 2027. According to Mizuho analyst Vijay Rakesh, demand for high-bandwidth memory (HBM) and DRAM is being fueled by AI workloads.
Mizuho said pricing for HBM4 and HBM4e products could increase between 70% and 100% in 2027, following a pricing reset in Q4 2025. The firm linked the expected increase to rising DRAM prices and growing product complexity.
Outside the HBM market, Mizuho noted that supply for key customers remains 30% to 50% below demand. The firm expects this supply-demand imbalance to persist beyond 2026. Mizuho also highlighted increasing customer interest in long-term supply agreements.
Micron Technology Inc (NASDAQ:MU) is an American semiconductor company that specializes in computer memory and computer data storage products. Its portfolio includes dynamic random-access memory, flash memory, and solid-state drives. Micron’s memory products are used in data centers, AI systems, cars, and a variety of consumer devices.
While we acknowledge the potential of MU to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than MU and that has 100x upside potential, check out our report about the cheapest AI stock.
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