3 Surging Semiconductor Stocks Under $20 Wall Street Believes Will Continue Rallying
StockNews
Published Nov 17, 2021 10:43AM ET
Updated Nov 17, 2021 11:30AM ET
3 Surging Semiconductor Stocks Under $20 Wall Street Believes Will Continue Rallying
The demand for semiconductors from several industries is expected to grow with continuing digitization. Initiatives by governments and enterprises to address the global chip shortage should also drive the industry’s growth. That’s why we think low-priced semiconductor stocks indie Semiconductor (INDI), Pixelworks (NASDAQ:PXLW), and inTEST (INTT) could be worth adding to one’s watch list. Wall Street analysts expect these stocks to keep surging in price in the near term. Let’s discuss.The applications of semiconductor chips, which contain millions and sometimes billions of transistors, are increasing rapidly across several industries, including consumer electronics, automobiles, manufacturing, and medical equipment. Unfortunately, this increasing demand, faced with a pandemic-led slowdown in production, has spelled a shortage of semiconductor chips worldwide.
However, according to an International Data Corporation (IDC) report, the chip shortage is expected to normalize by the middle of 2022. Furthermore, according to the report, the semiconductor market is expected to reach $600 billion by 2025, growing at a 5.3% CAGR, compared to the 3% - 4% growth seen historically.
Given this backdrop, we think it could be wise to add under-$20 semiconductor stocks indie Semiconductor, Inc. (INDI), Pixelworks, Inc. (PXLW), and inTEST Corporation (INTT) to one’s watch list. Wall Street analysts expect these stocks to continue rallying in the coming months.
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