Semiconductor stocks have been on a tear this year as investors bet on the promise of artificial intelligence and rotate back into technology names. This backdrop puts the VanEck Semiconductor ETF (SMH) up about 45% and on track for its best first half on record. Its closest outperforming six-month stretch dates to 2003, when it surged 27.45% during the first half. It finished that year with a gain of 87.31%, its highest on record. SMH YTD mountain Semiconductor stocks on track for best first half on record Despite the sector's outperforming half, Wall Street sees more upside in store for some popular semiconductor names. To find those potential winners, CNBC Pro used FactSet data to search for stocks with a buy rating of 55% or more and upside of at least 10% based on analysts' average price target. These are the four stocks analysts expect to continue surging. It's no surprise Nvidia made the cut. Shares have surged more than 160% as Wall Street focuses on artificial intelligence in the wake of ChatGPT's showstopping debut. Many within the investing community view Nvidia as the dominant chipmaker to beat, especially after it revealed a blowout quarter and guidance, spurred by booming demand for the technology . Following this run up, some Wall Street analysts are bracing for a pullback in shares over the short term, but remain confident in the long-term growth opportunity — even with the stock's steep valuation . The average price target implies nearly 15% upside from Thursday's close. Wall Street views Marvell Technology as another chip stock winner and potential big AI beneficiary . The stock has surged more than 60% in 2023, rallying more than 32% one day last month after Marvell topped earnings expectations. Bank of America's Vivek Arya recently called Marvell an "underappreciated" AI winner, while Barclays labeled it a "safer way" to expose portfolios to the burgeoning technology. More than 83% of analysts hold a buy rating on the stock, with the average price target suggesting another 10% upside. Analog Devices and Microchip Technology also met the criteria.
