Investors looking to add exposure in the semiconductor industry have a lot of choices.Recent market weakness is creating value in companies that will outperform in the long run. The iShares PHLX Semiconductor ETF (SOXX - ETF report) is down over 10% this year, with some of the major holdings such as Intel (INTC - Analyst Report) and Qualcom (QCOM - Analyst Report) dragging it down.

However, within the sector, there are a variety of performing stocks that are being sold in sympathy with the large struggling companies.Focusing specifically on the Semiconductor Analog and Mixed Industry could be beneficial after impressive earnings beat from NXP Semiconductors. The Industry is ranked 41 out of 265 (Top 15%) in the Zack Industry Rank

NXP Semiconductors (NXPI - Snapshot Report) is a Zacks Rank #1 (Stong Buy) that designs and manufactures High Performance Mixed Signal semiconductor solutions to meet the requirements of systems in its target markets. The Dutch company provides high performance mixed signal and standard product solutions for radio frequency (RF), analog, power management, interface, security, and digital processing products worldwide.

NXP has a market cap of $16 Billion and a Forward PE of 14. The company sports a Zacks Style Score of “B” in both Value and Growth.

Wednesday night the company reported Q4 earnings of $1.25 versus the $0.92 expected, with revenues coming in at $1.61 Billion versus $1.54 Billion. This beat, along with the recent sell off in the stock, caused shares to jump almost 8% on Thursday, to a high of $77 a share.

Estimates for fiscal year 2016 were headed higher leading up to the earnings report. Over the last 60 days, consensus estimates have pushed 6.4% higher, with all four analysts making revisions, doing so to the upside.

The beat and subsequent jump in the stock price isn’t a surprise. Looking back over the last four years the company has surprised to the upside every quarter, a sign that NXPI is being underestimated.

MaxLinear (MXL - Snapshot Report) is a Zacks Rank #1(Strong Buy) that provides radio frequency and mixed signal integrated circuits for application in networking markets. It sells its products to equipment manufacturers, TV operators, module makers and design manufacturers. The California company holds over 2000 patents and 200 products.

MaxLinear has a market cap of $870 Million and a Forward PE of 13. Their expected EPS growth is 17.50% and the stock holds a Zacks Style Score of “A”.

The company offered revenue guidance on January 8th, guiding Q4 revenue of $99 Million versus the 97.7 Million expected. They also guided Q1 revenue at $99-104 Million versus the $89.4 Million expected.

CEO Kishore Seendripu went on to say: "As we witnessed relative strength across our business toward the end of the fourth quarter 2015, we are pleased to announce a revised preliminary revenue outlook that is at the higher end of our prior guidance range. More significantly, the stronger-than-anticipated demand environment has led to improved visibility into the first quarter 2016. We expect first quarter 2016 revenue to be roughly flat to modestly up relative to the fourth quarter 2015. We expect strength to come from increased demand for our market leading satellite and cable front-ends, Legacy Video SoCs used in cable HD-DTA deployments, and a continued ramp in our emerging high-speed optical interconnect products."

They are expected to report on February 8th with a spotty record of surprising to the upside. However, analysts are in agreement in revising estimates for 2016, with estimates rising 8%.

Microchip Technology (MCHP - Analyst Report) is a Zacks Rank #2(Buy) that develops and manufactures specialized semiconductor products used by its customers for a wide variety of embedded control applications.

  The company has a market cap of $8.5 Billion and Forward PE of 18. They sport a Zacks Style score of “A” in momentum after it recently reported an earrings beat and guided higher.

Analysts are all in agreement in revising estimates to the upside. In the last 60 days, consensus estimates for fiscal year 2017 have risen 2.6%, from $2.67 to 2.74. The company surprised on EPS for five straight quarters, but with volatile stock price action.

Silicon Laboratories (SLAB - Snapshot Report) 

is a Zacks Rank #2 (Buy) that designs and develops proprietary, analog-intensive, mixed-signal integrated circuits for the rapidly growing communications industry.

The company has a market cap $1.7 Billion with a Forward PE of 31. It sports Zacks Stlye Scores of “A” in Growth and Momentum.

They reported earnings earlier this week with Q4 coming in at $0.63 versus the $.48 expected. They also guided revenue for Q1 $.42-.48 versus the .48 expected.

SLAB has surprised to the upside in seven straight quarters, with very volatile price swings up and down.  

In summary

The current market situation has investors nervous to pull the trigger on the semiconductor sector. When the market starts to turn, have a wish list ready and include these four stocks.