How is SMH stock faring? The VanEck Semiconductor ETF has gained 1.5% over the past five days and remains up 42% 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, supported by Intel’s (INTC) solid Q3 earnings beat reported after the markets closed yesterday. Intel’s robust results have renewed optimism in the semiconductor and artificial intelligence (AI) sectors. Intel’s shares are rising in pre-market trading at the time of writing.
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 $375.99 implies an upside of 9%.
Currently, SMH’s five holdings with the highest upside potential are STMicroelectronics (STM), Universal Display (OLED), Nvidia (NVDA), Synopsys (SNPS), and Microchip Technologies (MCHP).
Its five holdings with the greatest downside potential are Intel (INTC), Skyworks Solutions (SWKS), Applied Materials (AMAT), KLA Corporation (KLAC), 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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