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Here are Bank of America Merrill Lynch's favorite chip stock picks

Angel Navarrete | Bloomberg | Getty Images

Bank of America Merrill Lynch's research team shared its top semiconductor stock ideas in a note to clients Monday.

"We continue to be positive on the 'golden age' for semis, where cyclical reflation, secular drivers and discipline will drive earnings growth and attract new investors," analyst Vivek Arya wrote in the report.

Here are four buy-rated companies recommended by Bank of America Merrill Lynch to ride the chip boom, along with the firm's current price targets.