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Despite the recent selloff in the broader tech space, semiconductor companies specializing in chips that power devices like smartphones and tablets have held up well, analysts say.
The Philadelphia semiconductor index, for example, is up 1.4 percent since early March—and by more than 9 percent since the lows of early February—while the tech-heavy Nasdaq has lost nearly 6 percent during that period.
These companies are benefiting from a shift in the tech sector and the stabilization of the PC market, said Chad Morganlander, portfolio manager at Stifel Nicolaus.
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.
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.