5 under-the-radar semiconductor stocks with strong momentum

Despite oil prices still hovering near $100 per barrel, markets appear to be shaking off the Iran conflict and refocusing on the AI rally. Shares of AI hyperscalers such as Google and NVIDIA are up more than 10% over the last week, and the NASDAQ 100 is positioned for potential new all-time highs before the end of the month.

Against that backdrop, the article highlights five small-cap semiconductor stocks showing strong momentum at the start of 2026. Each company is described as having a market capitalization between $300 million and $5 billion, along with a minimum Benzinga Edge Momentum Score of 90.

AXT Inc. (Momentum Score: 99.99)

AXT is cited as showing improving fundamentals alongside strong price momentum. The operating margin improved from -34% to -1.4%, and management projects fiscal Q1 2026 revenue of $26 million in the April 30 release.

On the technical side, the article notes support at the 50-day moving average remains robust and that the Relative Strength Index (RSI) recently returned to bullish territory. It also points to a bullish MACD crossover, suggesting a brief pullback may be over and that investors are accumulating again.

Ichor Holdings Ltd. (Momentum Score: 98.70)

Ichor Holdings reported a surprise profit in its Q4 2025 earnings report released in February, with EPS more than 100% above expectations despite a year-over-year (YOY) revenue decline.

The stock is described as breaking above $60, marking its first new all-time high since 2021. Shares are reported to be up nearly 250% year-to-date (YTD), with support near the 50-day moving average during the current run. The article also flags that the RSI has moved into Overbought territory, which could precede profit-taking and potential pullbacks.

ChipMOS Technologies Inc. (Momentum Score: 95.82)

ChipMOS is presented as having notable upside potential based on both revenue growth and an improving technical setup. In its Q4 2025 results released in February, the company reported 26% YOY revenue growth and an EPS beat. The next report is scheduled for May 12, and management is expected to build on record revenue from the prior quarter.

Technically, the article says the stock recently retook the 50-day moving average after a multi-month period of rangebound trading. It also cites a bullish MACD crossover as evidence that the uptrend has momentum, alongside “long-term fundamental tailwinds.”

Silicon Motion Technologies Corp. (Momentum Score: 95.08)

Silicon Motion Technologies shares are described as up more than 200% over the last 12 months, including a 40% YTD gain so far in 2026. The article adds that the recent pullback appears to be ending, with the stock trading above the 50-day moving average again.

Confirmation is attributed to the RSI and MACD returning to bullish territory. If momentum continues, the article suggests the February all-time high of $143 could be surpassed before the end of the month.

Veeco Instruments Inc. (Momentum Score: 90.96)

Veeco Instruments is characterized as a “picks and shovels” company adjacent to large-cap chip producers, benefiting from the semiconductor production process that requires substantial processing, testing, and inspection equipment.

The article reports VECO shares are up more than 40% YTD. It states the stock broke out above the 50-day moving average after hovering near it since February, with the move confirmed by a MACD breakout. The RSI is also described as signaling buyers are back in control, though the article cautions that the RSI’s move into Overbought territory could raise the risk of a pullback, suggesting a slower entry into positions.