Quint Tatro reveals his top semiconductor stock

“Semiconductors” continue to massively underperform the broader market this year, but Quint Tatro is convinced the demand for chips will continue to increase. He’s the Founder and Chief Investment Officer at Joule Financial.

Tatro says buy On Semiconductor stock

A great way to play this continued surge in demand, he opines, is On Semiconductor Corp (NASDAQ: ON), down nearly 15% versus the start of 2022. Explaining why on CNBC’s “The Exchange”, Tatro said:

He’s also bullish on the Phoenix-headquartered company because the management expressed confidence last month that the supply constraints were finally starting to ease.  

Why else does he like On Semiconductor

According to the Joule Financial expert, he likes On Semiconductor for its strong fundamentals. The Nasdaq-listed firm reported better-than-expected results for its fiscal first quarter in May.

On June 21^st, the chipmaker will replace IPG Photonics Corp in the S&P 500 index. Wall Street, on average, sees a 20% upside in the stock at present.