Chip stocks are in focus ahead of MU earnings and the Meta Connect 2024 conference
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Semiconductor stocks will find themselves front and center this week with shares of Micron Technology (NASDAQ:MU) scheduled to deliver investors its latest earnings report on Wednesday, while investors also watch the Meta Connect 2024 two-day conference kick off.
As a result, Seeking Alpha spotlighted the top ten U.S. chip stocks according to each of its quant metrics. Seeking Alpha’s quant ratings system grades stocks based on quantitative measures, such as profitability, momentum and valuation. Quant ratings are given on a scale of 1-5.
Top 10 U.S. Chip Stocks per Seeking Alpha’s Quant Metrics
No 10: ON Semiconductor Corporation (ON). Quant rating 3.66.
No. 9: PDF Solutions, Inc. (PDFS). Quant rating 3.91.
No. 8: First Solar (FSLR). Quant rating 3.95.
No. 7: SkyWater Technology (SKYT). Quant rating 4.02.
No. 6: Marvell Technology (MRVL). Quant rating 4.33.
No. 5: CEVA (CEVA). Quant rating 4.38.
No. 4: Ambarella (AMBA). Quant rating 4.39.
No. 3: Alpha and Omega Semiconductor Limited (AOSL). Quant rating 4.52.
No. 2: Micron Technology (MU). Quant rating 4.63.
No. 1: Applied Materials (AMAT). Quant rating 4.68.
Moreover, shares of the Jensen Huang’s led Nvidia (NVDA) just missed the top 10 cut, as Seeking Alpha’s Quant Metrics listed the magnificent 7 company as a 3.49.
For additional information around the semiconductor market, investors can always look towards exchange traded funds as a diversified approach to the industry. Some popular funds worth mentioning are as follows:
Semiconductor ETFs: (SMH), (SOXX), (SOXL), (FTXL), (XSD), (USD), (PSI), and (SEMI).