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2 Top Semiconductor Stocks Rated ‘Strong Buy’ in the POWR Ratings -Breaking

by Mike Robinson

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© Reuters. Two Top Semiconductor Stocks Recognized as a Strong Buy in the POWR Ratings

The industry is expected to meet growing demands for semiconductors from many sectors, thanks in part to the large investments being made. Because semiconductor sales will continue to grow, it might be a good idea to place your bets on the fundamentally sound businesses Broadcom (NASDAQ:), and United Microelectronics. The stocks of these companies have an overall ‘Strong Buy’ rating in our proprietary rating system. So, let’s discuss.The current semiconductor shortage has been impacting several industries, primarily automotive and consumer electronics. But, the huge investment made by both governments and companies to increase production will help meet rising demand.

Statista predicts that worldwide semiconductor sales will rise 25.1% annually to $550.90 million in 2021. Investors’ interest in the semiconductor industry is evident in the iShares Semiconductor ETF’s (SOXX) 17.7% returns over the past month versus the SPDR S&P 500 Trust ETF’s (SPY) 6.7% gains.

So, given the industry’s solid growth prospects, we think fundamentally sound semiconductor stocks Broadcom Inc. (AVGO) and United Microelectronics Corporation (UMC) could be solid picks now. Our proprietary POWR Ratings give these stocks an A rating (Strong Buy).

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