Deep Dive: Semiconductor stocks are hitting new highs again, yet they’re still cheap

Semiconductor stocks as a group appear undervalued, especially when you factor in their superior growth rates for sales, earnings and cash flow as compared with the benchmark S&P 500 Index.

As of the close on March 7, the S&P 500 SPX, +0.45% was down 4.8% from its closing high Jan. 26, but the PHLX Semiconductor Index SOX, +0.11% had already recovered and set a new closing record, 1.7% higher than its level on Jan. 26. And the semiconductors as a group are still cheaper than the S&P 500, while showing better growth rates for sales and earnings.

>>> Original Source <<<