2 Semiconductor Stocks Under $10 To Scoop Up Now

The increasing dependency on advanced technologies, such as artificial intelligence (AI), Internet of Things (IoT), and 5G wireless solutions, has caused  sustained demand for semiconductors. According to the Semiconductor Industry Association (SIA), the worldwide sales of semiconductors increased 29.2% year-over-year to $44.5 billion in June 2021. Also, substantial government and private investments to tackle the global chip shortage should help the industry meet the surging demand, which is primarily coming from the consumer electronics and electric vehicles industries.

The global semiconductor market is expected to reach $803.15 billion by 2028, registering an 8.6% CAGR.


Therefore, we think fundamentally sound semiconductor stocks ASE Technology Holding Co., Ltd. (ASX) and Everspin Technologies, Inc. (MRAM) could be solid bets now. These two stocks are currently trading below $10 but hold significant upside potential.

Click here to checkout our Semiconductor Industry Report for 2021

ASE Technology Holding Co., Ltd. 

Taiwan-based ASX provides independent semiconductor, electronic manufacturing, packaging, and testing services in the United States, Europe, Asia, and internationally. The company also offers IC wire bonding packages, interconnect materials, system-in-package products, and other semiconductor test-related services.

ASX’s total net revenue increased 18% year-over-year to NT$126.93 billion ($4.58 billion) for the second quarter ended June 30, 2021. Its gross profit increased 31.9% from its  year-ago value to NT$24.80 billion ($895.47 million). The company’s operating income grew 56.3% from the prior-year quarter to NT$13.17 billion ($475.54 million), while its EPS increased 43.8% year-over-year to NT$ 2.3 ($0.08).

A  $19.88 billion consensus revenue estimate for the current year represents 22.7% growth from the same period last year. In addition, the company has an impressive earnings surprise history; it beat the consensus EPS estimates in each of the trailing four quarters. Also, its EPS is expected to increase 61.4% in the current year and 100% in the current quarter.

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