3 Strong Buy Semiconductor Stocks To Consider Now - Sept. 2017

With several interesting trends like the Internet of Things and artificial intelligence on the rise, it is an exciting time to be investing in the technology sector. What’s more, it is also a profitable time to be a tech-focused investor, as this space has been among the strongest performing sectors all year.

And while the behemoths like Microsoft (MSFT - Free Report) and Apple (AAPL - Free Report) may hog all the headlines, it’s really been the companies powering their technologies—the semiconductor manufacturers—that have had a strong year on the markets.

Indeed, as our Computer and Technology sector has gained nearly 19% year-to-date, semiconductor companies have been a driving factor behind its growth. The aforementioned emerging tech trends have created new consumer demand, and the semiconductor makers are delivering.

Luckily, the proven Zacks stock picking methods are effective across all industries. Check out these Zacks Rank #1 (Strong Buy) semiconductor stocks right now:

1.  Micron Technology (MU - Free Report)

Micron is one of the leading worldwide providers of semiconductor memory solutions. The company’s memory solutions are marketed towards customers in a variety of industries, including computer manufacturing, consumer electronics, and telecommunications.

Shares of Micron are up over 49% year-to-date, and the stock is one of Wall Street’s most talked about. This is owed directly to the company’s incredible growth rates on the top and bottom lines. In fact, our current consensus estimates are calling for quadruple-digit EPS growth and 80% sales growth this quarter. MU is also sporting an “A” grade for Value, which is underscored by its impressive P/E ratio of just 5.37 and its P/S ratio of 2.08.

2. Lam Research Corporation (LRCX - Free Report)

Lam Research is a designer and manufacturer of semiconductor processing equipment used in the fabrication of integrated circuits. The company is recognized as a leading supplier of front-end wafer processing equipment to the worldwide semiconductor industry.

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