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Nowadays, as technology continues to advance, so does the need for semiconductors.
Fortunately, the daring companies within this sector are responsible for creating the most efficient, powerful, and capable semiconductors. Let’s look at the three best semiconductor stocks to buy this month, from companies that will grow your portfolio.
Qualcomm (QCOM)
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Qualcomm Incorporated (NASDAQ:QCOM), is a technological powerhouse with a knack for pioneering innovations, especially in wireless communication and connectivity.
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In their most recent financial report, they flaunted revenues of $8.5 billion, an impressive feat. In addition, their earnings per share (EPS) exceeded expectations, with $1.60 on a GAAP standard and $1.87 on a non-GAAP standard.
Specifically, one standout gem for Qualcomm CDMA Technologies (QCT) is their automotive technology division. This unit has seen a whopping 11 consecutive quarters of double-digit year-over-year (YOY) revenue growth.
In a groundbreaking move, Qualcomm is teaming with Jaguar Land Rover (JLR) to introduce 5G capabilities. This partnership aligns seamlessly with JLR’s vision of elevating luxury entertainment systems. Qualcomm’s Snapdragon Digital Chassis technology suite offers lightning-fast speeds and ultra-low latency for an consistently connected, immersive driving experience.
Last month, Qualcomm made headlines by achieving a jaw-dropping 7.5 Gbps download speed with their Snapdragon X75, a world record in 5G speed. This showcases Qualcomm’s unwavering commitment to pushing the boundaries of 5G performance, cementing their status as a leader in next-gen wireless tech.
Monolithic Power (MPWR)
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Monolithic Power Systems (NASDAQ:MPWR), is a heavyweight in the realm of high-performance power solutions. They’re experts in crafting advanced semiconductor tech that efficiently manages and distributes electrical power.
MPWR is a top semiconductor stock because of their strategic partnership with Vanguard International Semiconductor Corporation (NYSE:VIS). So, this clear signal of determination to secure a steady semiconductor supply displays a critical move in today’s fiercely competitive market.
In their recent financial performance update for Q2, they raked in $441.1 million in revenue. While this marked a slight dip from the previous quarter, it’s noteworthy that revenue exceeded the same quarter last year.
Their gross margin, a profitability yardstick, saw a modest decline in both GAAP and non-GAAP figures. Operating expenses edged up compared to the YOY, resulting in a dip in GAAP operating income.