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4 Semiconductor Stocks to Buy in August

Published 08/03/2021, 03:05 PM
Updated 08/03/2021, 04:30 PM
© Reuters.  4 Semiconductor Stocks to Buy in August

© Reuters. 4 Semiconductor Stocks to Buy in August

National governments and major companies in the semiconductor industry are investing heavily to boost the production of semiconductors to meet rising demand amid the commodity’s scarce supply worldwide. Consequently, analysts expect the supply shortage to subside gradually. Thus, shares of prominent players in this space—KLA Corporation (KLAC), Amkor (NASDAQ:AMKR), Silicon Motion Technology (NASDAQ:SIMO), and DSP Group (NASDAQ:DSPG)—should keep gaining this month and beyond. Read on.A global semiconductor shortage has created a bottleneck in the automobile and consumer electronics industries. Under the U.S. Competition and Innovation Act, a federal investment of $52 billion in the semiconductor industry has been allocated to boost production and support the expansion of semiconductor foundries.

As a result, the semiconductor industry is expected to thrive this year. In fact, according to the World Semiconductor Trade Statistics (WSTS), the worldwide semiconductor market is expected to grow 19.7% year-over-year in 2021.

Given the industry’s solid growth prospects, KLA Corporation (KLAC), Amkor Technology , Inc. (AMKR), Silicon Motion Technology Corporation (SIMO), and DSP Group, Inc. (DSPG) are expected to grow significantly in the coming months. So, these stocks could be solid bets now.

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