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10 top semiconductor stocks to buy in 2024

The semiconductor's critical role in modern technology make it a noteworthy investment.

Semiconductors are fundamental components of modern electronics, such as smartphones, computers and automotive systems.(1)

They’re also pivotal in the growth of cutting-edge technologies like artificial intelligence, the Internet of Things (IoT) and 5G networks.

As demand for microchips grows, so do the opportunities for savvy investors.

We present 10 top semiconductor stocks you should consider if you want to invest in this disruptive technology.

10 top semiconductor stocks to buy now

Stock name and tickerYTD returnAnalyst recommendationLink to invest
Nvidia Corp (NVDA)147.3%1.33Buy now
Broadcom Inc (AVGO)46.7%1.52Buy now
Monolithic Power System (MPWR)34.2%1.80Buy now
Micron Technology Inc (MU)33.9%1.42Buy now
Qualcomm Inc (QCOM)33.7%2.05Buy now
Analog Devices Inc (ADI)16.0%1.84Buy now
NXP Semiconductors (NXPI)14.2%2.00Buy now
Advanced Micro Devices (AMD)4.5%1.49Buy now
Microchip Technology Inc (MCHP)-0.5%1.69Buy now
ON Semiconductor Cop (ON)-12.1%2.03Buy now

Source: Finviz. Data is current as of July 23, 2024.

Methodology: How we choose the best stocks to buy now

Finder’s investments experts analyze all S&P 500-listed stocks to curate a list of the best semiconductor stocks to buy now. Ordered by year-to-date performance, we consider only companies listed on the S&P 500 that meet the following criteria:

  • Analyst recommendation: Buy or better
  • Earnings-per-share growth next year: Positive (greater than 0%)
  • Current ratio: Greater than 1
  • Analyst recommendation. This is the consensus outlook of analysts regarding whether to buy, sell or hold a particular stock based on their assessment of its futures performance and valuation, where 1.0 means “Strong Buy,” 2.0 means “Buy,” 3.0 means “Hold,” 4.0 means “Sell,” and 5.0 means “Strong Sell.”
  • Earnings-per-share growth next year. This indicates analyst’s expectations of a company’s future profitability and operational performance.(2)
  • Current ratio. This metric measures a company’s ability to pay its short-term liabilities with its short-term assets, indicating its liquidity and financial health. A higher current ratio suggests a strong liquidity position, while a lower ratio may signal potential difficulties in meeting short-term debt obligations. A rate greater than 1 implies the company is likely in a strong financial position to meet its immediate obligations.(3)

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How to invest in semiconductor stocks

  1. Choose an online stock trading platform. Choose from our Top Picks above, use our comparison table below or jump straight to the best stock trading apps of 2024.
  2. Sign up for an account. Provide your personal information and sign up.
  3. Set up a funding method to pay for the transaction. Deposit funds into your account by linking your banking information.
  4. Choose the stocks you want to buy. Search for the stock by name or ticker symbol like AMAT or AMD.
  5. Place your order. Buy the stock. It's that simple.

Take a deeper dive into semiconductor stocks

If you're interested in investing in the technology industry, take a closer look at what companies in this industry do and how the stocks have historically performed. Keep in mind that positive past performance doesn't guarantee that a stock will continue to rise in the future.

1. NVIDIA Corporation (NVDA)

NVIDIA Corporation provides graphics and compute and networking solutions in the United States, Taiwan, China, Hong Kong, and internationally. The Graphics segment offers GeForce GPUs for gaming and PCs, the GeForce NOW game streaming service and related infrastructure, and solutions for gaming platforms; Quadro/NVIDIA RTX GPUs for enterprise workstation graphics; virtual GPU or vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building and operating metaverse and 3D internet applications. The Compute & Networking segment comprises Data Center computing platforms and end-to-end networking platforms, including Quantum for InfiniBand and Spectrum for Ethernet; NVIDIA DRIVE automated-driving platform and automotive development agreements; Jetson robotics and other embedded platforms; NVIDIA AI Enterprise and other software; and DGX Cloud software and services.

NVIDIA Corporation stock opened the day at $116.19 after a previous close of $112.28. The latest price was $114.00 (25-minute delay). NVIDIA Corporation is listed on the NASDAQ, has a trailing 12-month revenue of around USD79.8 billion and employs 29,600 staff.

  • Market capitalization: $2,978,608,054,272
  • P/E ratio: 70.8129
  • PEG ratio: 1.5013

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2. Broadcom (AVGO)

Broadcom Inc. designs, develops, and supplies various semiconductor devices with a focus on complex digital and mixed signal complementary metal oxide semiconductor based devices and analog III-V based products worldwide. The company operates in two segments, Semiconductor Solutions and Infrastructure Software.

Broadcom stock opened the day at $153.50 after a previous close of $149.26. The latest price was $152.39 (25-minute delay). Broadcom is listed on the NASDAQ, has a trailing 12-month revenue of around USD$42.6 billion and employs 20,000 staff.

  • Market capitalization: $732,445,343,744
  • P/E ratio: 67.5322
  • PEG ratio: 1.5601

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3. Monolithic Power Systems (MPWR)

Monolithic Power Systems, Inc. engages in the design, development, marketing, and sale of semiconductor-based power electronics solutions for the storage and computing, automotive, enterprise data, consumer, communications, and industrial markets. The company provides direct current (DC) to DC integrated circuits (ICs) that are used to convert and control voltages of various electronic systems, such as cloud-based CPU servers, server artificial intelligence applications, storage applications, commercial notebooks, digital cockpit, power sources, home appliances, 4G and 5G infrastructure, and satellite communications applications.

Monolithic Power Systems stock opened the day at $812.20 after a previous close of $789.90. The latest price was $826.21 (25-minute delay). Monolithic Power Systems is listed on the NASDAQ, has a trailing 12-month revenue of around USD$1.8 billion and employs 3,564 staff.

  • Market capitalization: $41,053,372,416
  • P/E ratio: 101.0144
  • PEG ratio: 2.6251

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4. Micron Technology (MU)

Micron Technology, Inc. designs, develops, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Embedded Business Unit, and Storage Business Unit.

Micron Technology stock opened the day at $110.10 after a previous close of $107.45. The latest price was $109.59 (25-minute delay). Micron Technology is listed on the NASDAQ, has a trailing 12-month revenue of around USD$21.4 billion and employs 43,000 staff.

  • Market capitalization: $126,696,054,784
  • PEG ratio: 1.1151

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5. Qualcomm Incorporated (QCOM)

QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI). The QCT segment develops and supplies integrated circuits and system software based on 3G/4G/5G and other technologies for use in wireless voice and data communications, networking, computing, multimedia, and position location products.

Qualcomm Incorporated stock opened the day at $179.01 after a previous close of $175.39. The latest price was $180.67 (25-minute delay). Qualcomm Incorporated is listed on the NASDAQ, has a trailing 12-month revenue of around USD$36.4 billion and employs 50,000 staff.

  • Market capitalization: $213,668,528,128
  • P/E ratio: 25.5082
  • PEG ratio: 1.8288

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6. Analog Devices (ADI)

Analog Devices, Inc. designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems products in the United States, rest of North and South America, Europe, Japan, China, and rest of Asia. The company provides data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; power management and reference products for power conversion, driver monitoring, sequencing, and energy management applications in the automotive, communications, industrial, and consumer markets; and power ICs that include performance, integration, and software design simulation tools for accurate power supply designs.

Analog Devices stock opened the day at $225.30 after a previous close of $220.92. The latest price was $226.10 (25-minute delay). Analog Devices is listed on the NASDAQ, has a trailing 12-month revenue of around USD$10.5 billion and employs 26,000 staff.

  • Market capitalization: $114,735,292,416
  • P/E ratio: 54.0234
  • PEG ratio: 3.6138

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7. NXP Semiconductors (NXPI)

NXP Semiconductors N. V. offers various semiconductor products. The company's product portfolio includes microcontrollers; application processors, including i.

NXP Semiconductors stock opened the day at $251.59 after a previous close of $247.51. The latest price was $254.59 (25-minute delay). NXP Semiconductors is listed on the NASDAQ, has a trailing 12-month revenue of around USD$13.3 billion and employs 34,200 staff.

  • Market capitalization: $68,853,145,600
  • P/E ratio: 24.8652
  • PEG ratio: 2.1162

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8. Advanced Micro Devices (AMD)

Advanced Micro Devices, Inc. operates as a semiconductor company worldwide. It operates through Data Center, Client, Gaming, and Embedded segments.

Advanced Micro Devices stock opened the day at $140.32 after a previous close of $138.32. The latest price was $140.62 (25-minute delay). Advanced Micro Devices is listed on the NASDAQ, has a trailing 12-month revenue of around USD$22.8 billion and employs 26,000 staff.

  • Market capitalization: $251,772,616,704
  • P/E ratio: 225.7536
  • PEG ratio: 0.6622

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9. Microchip Technology (MCHP)

Microchip Technology Incorporated engages in the development, manufacture, and sale of smart, connected, and secure embedded control solutions in the Americas, Europe, and Asia. The company offers general purpose 8-bit, 16-bit, and 32-bit mixed-signal microcontrollers; 32-bit embedded mixed-signal microprocessors; and specialized microcontrollers for automotive, industrial, computing, communications, lighting, power supplies, motor control, human machine interface, security, wired connectivity, and wireless connectivity applications. It also provides analog, interface, mixed signal, and timing products comprising power management, linear, mixed-signal, high-voltage, thermal management, discrete diodes, and metal oxide semiconductor field effect transistors (MOSFETS), radio frequency (RF), drivers, safety, security, timing, USB, Ethernet, wireless, and other interface products; field-programmable gate array (FPGA) products; and application development tools that enable system designers to program microcontroller, FPGA, and microprocessor products for specific applications.

Microchip Technology stock opened the day at $86.76 after a previous close of $85.03. The latest price was $87.02 (25-minute delay). Microchip Technology is listed on the NASDAQ, has a trailing 12-month revenue of around USD$7.6 billion and employs 22,300 staff.

  • Market capitalization: $48,140,595,200
  • P/E ratio: 25.7845
  • PEG ratio: 8.4652

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10. ON Semiconductor Corporation (ON)

ON Semiconductor Corporation provides intelligent sensing and power solutions in the United States and internationally. The company operates through Power Solutions Group, Advanced Solutions Group, and Intelligent Sensing Group. Its intelligent power technologies enable the electrification of the automotive industry that allows for lighter and longer-range electric vehicles, empowers fast-charging systems, and propels sustainable energy for the solar strings, industrial power, and storage systems.

ON Semiconductor Corporation stock opened the day at $69.15 after a previous close of $67.54. The latest price was $70.52 (25-minute delay). ON Semiconductor Corporation is listed on the NASDAQ, has a trailing 12-month revenue of around USD$8.2 billion and employs 30,000 staff.

  • Market capitalization: $31,204,726,784
  • P/E ratio: 14.802
  • PEG ratio: 1.2921

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Editor, Investments

Matt Miczulski is an investments editor at Finder. With over 450 bylines, Matt dissects and reviews brokers and investing platforms to expose perks and pain points, explores investment products and concepts and covers market news, making investing more accessible and helping readers to make informed financial decisions. Before joining Finder in 2021, Matt covered everything from finance news and banking to debt and travel for FinanceBuzz. His expertise and analysis on investing and other financial topics has been featured on CBS, MSN, Best Company and Consolidated Credit, among others. Matt holds a BA in history from William Paterson University. See full bio

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