The shift to mobile has also given these companies a boost, said Sarat Sethi, portfolio manager at Douglas C. Lane.
Also helping is the fact that two-thirds of the companies in the Philadelphia semiconductor index offer a dividend, and investors tend to turn to dividend stocks in periods of volatility, experts say.
Within that index, Intel, Maxim Integrated and Microchip Technology offer the highest dividend yield at around 3 percent, which is higher than the S&P 500's average yield of 2 percent.
All of these names are posting gains since early March, which is when the selloff in the momentum/ high-growth names accelerated.
Inventory replenishment could be a catalyst for more upside growth, said Ian Ing, semiconductor analyst at MKM Partners. (Ing's favorite name in the space is Marvel Technologies.)
"Semiconductor channel inventory is lean and largely destocked at this point, and any potential replenishment would result in revenue growth exceeding end-demand," said Ing.
—By CNBC's Seema Mody.
Correction: This version corrected that the Philadelphia semiconductor index's gain of more than 9 percent has been since early February.