Semiconductor Stocks Index Up 15% In February; Now Up 22% YTD

By Lorimer Wilson munKNEE.com
Sunday, March 3, 2024 2:45 AM EST

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Introduction

Semiconductor chip stocks, as measured by the 30 stocks in the iShares Semiconductor ETF (SOXX}, increased 70.7% in 2023 as companies sought to power their new AI applications. Many analysts think this boom in chip stocks will continue in 2024 and, if the upticks of 6.6% last week in the munKNEE Semiconductor Index of 15 stocks, on top of the 14.6% in February and the 22.4% increase YTD are any indication, that could well be the case.

The munKNEE Semiconductor Index

All 30 stocks in the SOXX have been analyzed as to their PEG (current stock price-to-projected 1-year earnings growth) ratios and the consensus ratings and price targets of the Wall Street analysts covering the stocks and 15 are highlighted below as to their performances in February, in descending order, and YTD along with the latest news, commentary, and/or analysis on each, where applicable.

  1. Nvidia (NVDA): up 28.6% in February; up 59.8% YTD
  2. Applied Materials (AMAT): up 22.7% in February; up 24.4% YTD
  3. Monolithic Power Systems (MPWR): up 19.5% in February; up 14.2 % YTD
  4. Advantest Corp. (ATEYY): up 18.2% in February; up 39.2% YTD
  5. MKS Instruments (MKSI): up 15.3% in February; up 19.3% YTD
  6. KLA Corporation (KLAC): up 14.9% in February; up 15.3% YTD
  7. Advanced Micro Devices (AMD): up 14.8% in February; up 30.6% YTD
  8. Entegris (ENTG): up 14.2% in February; up 12.1% YTD
  9. Taiwan Semiconductor (TSM): up 13.9% in February; up 23.7% YTD
  10. Lam Research (LRCX): up 13.7% in February; up 19.8% YTD
  11. Broadcom (AVGO): up 10.2% in February; up 16.5% YTD
  12. ASML Holding (ASML): up 9.4% in February; up 25.7% YTD
  13. Qualcomm (QCOM): up 6.2% in February; up 9.1% YTD
  14. Marvell Technology (MRVL): up 5.8% in February; up 18.8% YTD
  15. Micron Technology (MU): up 5.7% in February; up 6.2% YTD

Summary

As mentioned in the Introduction, the munKNEE Semiconductor Stocks Index went up 14.6% in February and is now up 22.4% YTD. In comparison, the iShares Semiconductor ETF (SOXX} went up 16.0% in February and is now up 18.0% YTD.

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Disclosure: None

This article has been composed with the exclusive application of the human intelligence (HI) of the author. No artificial intelligence (AI) technology has been deployed. ...

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