3 Strong Buy Semiconductor Stocks to Consider Now

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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.

3 Strong Buy Semiconductor Stocks to Consider Now

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And while the behemoths like Microsoft Corporation (NASDAQ: MSFT ) and Apple Inc. (NASDAQ: AAPL ) 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 more than 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:

Lam Research Corporation (NASDAQ: LRCX )

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.

Lam just continued its impressive earnings momentum with another beat in the most recent quarter, and we've already seen positive estimates pour in for its upcoming fiscal periods. In fact, the company's full-year Zacks Consensus Estimate has gained nearly $1.50 over the past 30 days. On top of this solid earnings-related data, LRCX is also sporting an overall VGM grade of "B."

Micron Technology, Inc. (NASDAQ: MU )

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 27% 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. For the full fiscal year, we expect Micron to record EPS growth of over 6,000% and sales growth of 62%. MU is also sporting an "A" grade for Value, which is underscored by its impressive P/E ratio of just 7.01 and its P/S ratio of 1.59.

Vishay Intertechnology (NYSE: VSH )

Vishay Intertechnology is a leading international manufacturer and supplier of discrete passive electronic components and discrete active electronic components, particularly resistors, capacitors, inductors, diodes and transistors.

After surpassing the Zacks Consensus Estimate for earnings in the most recent quarter, Vishay has witnessed several positive estimate revisions and is looking poised to move higher. The company is notching strong earnings and revenue growth, and it has also earned "A" grades in our Value, Momentum, and VGM categories.

Want more stock market analysis from this author? Make sure to follow @ Ryan_McQueeney on Twitter!

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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