With the market continuing to seemingly seesaw back and forth on every headline or pundit quote, one thing is for sure: the waters will remain murky to some degree until the presidential election is settled. One solid area for aggressive investors to continue to look at is the semiconductor arena. With the PHLX Semiconductor Sector (SOX) index, which tracks the companies in the sector, up just under 5% this year, the top companies are making slow but steady progress.

A new Wedbush report highlights some of the stocks on the firm’s 14th annual Silicon Valley semiconductor bus tour, during which analysts met with 12 leading chip companies over a period of two days. We screened the Wedbush report and found four stocks rated Outperform that look to have solid upside potential.

Cypress Semiconductor

This stock has been cut almost in half in less than a year. Cypress Semiconductor Corp. (NASDAQ: CY) produces high-performance, high-quality solutions for some of the most advanced embedded systems, from automotive, industrial and networking platforms to highly interactive consumer and mobile devices.

The broad, differentiated product portfolio that includes NOR flash memories, F-RAM and SRAM, Traveo microcontrollers, the industry’s only programmable system-on-chip (PSoC) solutions, analog and power management integrated circuits (PMICs), CapSense capacitive touch-sensing controllers and Wireless BLE Bluetooth low-energy and USB connectivity solutions.

The company announced late last year an expansion of its automotive portfolio that will help enable manufacturers to bring high-tech automotive systems historically available only in luxury models to mainstream vehicles. Leveraging a wide range of differentiated products that includes microcontrollers (MCUs), PMICs, memories and touch-sensing solutions, the portfolio enables value-added systems for Cypress’s top tier automotive customers.

The company beat first-quarter earnings estimates and raised its forward guidance. In addition the chief executive officer is stepping down, and the company will spend over half a billion for Broadcom’s Internet of Things business. Cypress also repurchased $182.5 million in common stock, under its $450 million repurchase authorization approved two quarters ago.

Cypress shareholders receive a big 4.28% dividend. The Wedbush price target for the stock is $11, and the consensus price target is $10.75. Shares closed Thursday at $10.29.