#6 - Renesas Electronics (OTCMKTS:RNECY)
For those investors who have a high-risk tolerance, Renesas Electronics (OTCMKTS:RNECY) is an intriguing penny stock bet. This is a small Japanese company that may never be more than a penny stock. Nevertheless, it looks to be well-positioned for the coming surge in chip demand.
One of the differences between Renesas and other stocks in this presentation is that it is largely a play on the EV market. But because the company’s chips are used in virtually every component of the vehicle, this represents a large opportunity. A significant percentage of the company’s revenues comes from the IoT sector. In fact, the two sectors: automotive and IoT have bounced back-and-forth over the last couple of years in terms of providing higher revenue.
RNECY stock is up over 75% in the last 12 months. And the stock is continuing to show strong growth in 2021. In the year-to-date, the stock is up nearly 10%. The company is covered by three analysts and receives two buy ratings and one strong buy rating.
About Renesas Electronics
Renesas Electronics Corporation researches, develops, designs, manufactures, sells, and services semiconductors in Japan, China, rest of Asia, Europe, North America, and internationally. The company operates through Automotive Business and Industrial/Infrastructure/IoT Business segments. It offers microcontrollers (MCUs) and microprocessors; amplifiers, audio and video, data converters, power line communication, and switches and multiplexer products; and specific clocks, clock distribution and generation, jitter attenuators with frequency translation, and crystal oscillator, and VersaClock programmable clocks.
Read More - Current Price
- $6.50
- Consensus Rating
- N/A
- Ratings Breakdown
- 0 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- N/A
