How is SMH stock faring? The VanEck Semiconductor ETF is up 7.3% in the past 5 days, and up 43% year-to-date.
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The SMH ETF, which tracks the performance of the MVIS US Listed Semiconductor 25 index, rose 2.7% on Wednesday. The technology sector has gained significant momentum thanks to the ongoing artificial intelligence (AI) boom. Additionally, investors are anticipating a series of rate cuts this year, boosting interest in growth sectors. Nvidia (NVDA) lifted tech stocks higher yesterday after CEO Jensen Huang noted that computing demand is rising substantially.
According to TipRanks’ unique ETF analyst consensus, which is based on a weighted average of analyst ratings on its holdings, SMH is a Moderate Buy. The Street’s average price target of $344.96 implies an upside of nearly 1%.
Currently, SMH’s five holdings with the highest upside potential are Universal Display (OLED), Texas Instruments (TXN), Analog Devices (ADI), Nvidia, and STMicroelectronics (STM).
Its five holdings with the greatest downside potential are Intel (INTC), Lam Research (LRCX), Teradyne (TER), Applied Materials (AMAT), and Skyworks Solutions (SWKS).
Revealingly, SMH’s ETF Smart Score is Eight, implying that this ETF is likely to outperform the market.
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