How is SMH stock faring? The VanEck Semiconductor ETF has gained over 3% over the past five days and remains up 45% year-to-date.
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What Moved the Market
The SMH ETF tracks the performance of the MVIS US Listed Semiconductor 25 index. Recently, it has drawn considerable attention due to high-profile deals being conducted in the AI sector.
The ETF is moving higher today mainly because chipmaker Intel (INTC) reported strong Q3 earnings after the market closed on Friday, October 24, boosting confidence in the semiconductor and AI sectors.
Today’s SMH ETF Performance
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 $378.84 implies an upside of 5.7%.
Currently, SMH’s five holdings with the highest upside potential are STMicroelectronics (STM), Universal Display (OLED), Microchip Technologies (MCHP), Nvidia (NVDA), and Synopsys (SNPS).
Its five holdings with the greatest downside potential are Intel, KLA Corporation (KLAC), Applied Materials (AMAT), Skyworks Solutions (SWKS), and Monolithic Power (MPWR).
Revealingly, SMH’s ETF Smart Score is Eight, implying that this ETF is likely to outperform the market.
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