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Here are SunTrust's top chip stock picks heading into earnings

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SunTrust Robinson Humphrey confirmed its positive outlook for the semiconductor sector and selected its top picks heading into second quarter earnings.

"We agree with the aggregate consensus estimates that suggest the semis/components industry will reflect peaking sales growth in CQ2, and fading but still positive growth later in the year," wrote chief analyst William Stein in Tuesday's note.

"While conventional wisdom suggests peak growth rates mark a downturn in semi stocks, we have demonstrated that semis tend to deliver significant returns in the two quarters after peak growth," he added.

Here are four of SunTrust Robinson Humphrey's favorite chip stock picks heading into second quarter earnings.

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