Semiconductor stocks are undervalued and will keep rallying this year, according to one Wall Street analyst.
The iShares PHLX Semiconductor ETF has risen 43 percent in the past 12-months versus the S&P 500's 22 percent gain in the same time period.
On the chip sector "for the 6th consecutive quarter, we expect an at least in-line C4Q/C1Q with upside bias," analyst John Pitzer wrote in a note to clients Monday. "Semis remain the cheapest, most levered way to play Data (Create, Store, Transmit, Analyze) in the global economy."
Here are four outperform-rated semiconductor stocks recommended by Credit Suisse, along with the firm's current price targets.