2 Top Small Cap Semiconductor Stocks For 2024 and Beyond?

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In this episode of Chip Stock Investor, Nick and Kasey cover two small cap (by our definition) companies in the semiconductor industry: Silicon Motion (SIMO) and Onto Innovation (ONTO).

Silicon Motion was the object of a merger with MaxLinear (MXL), before MXL walked away last year. And we think that’s a good thing. Silicon Motion designs memory controllers for devices like PCs, smartphones, and autos. Despite facing notable competition, the company's high performance chips give it a competitive advantage, and they predict a new growth cycle is starting in 2024.

Onto Innovation, which falls in the semiconductor wafer manufacturing equipment space, is a smaller player in the metrology space. It competes with industry giants like Applied Materials (AMAT) and KLA Corp (KLAC). But after its revenue decline in 2023, we are starting to see positive upward momentum that has been driving the stock higher. The company's innovative product portfolio, strong cash position, and potential for future acquisitions appear promising.

Stay tuned for our cybersecurity video and manual on the industry later this week!

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Content in this video is for general information or entertainment only and is not specific or individual investment advice. Forecasts and information presented may not develop as predicted and there is no guarantee any strategies presented will be successful. All investing involves risk, and you could lose some or all of your principal.

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Nick and Kasey own shares of Silicon Motion and Onto Innovation.