To explore the temporal sequence of, and the relationship between, the left and right hemispheres (LH and RH) during semantic memory (SM) processing we identified the neural networks involved in the performance of functional MRI semantic object retrieval task (SORT) using group independent component analysis (ICA) in 47 healthy individuals. SORT requires participants to determine whether word pairs describing object features combine to retrieve an object. Functional network connectivity (FNC) was used to assess the correlations between components' time courses. Results showed that semantic left and right hemisphere networks comprise two independent ICA components. The components' time courses were highly correlated and RH activation preceded that of the LH. Moreover, this correlation was significantly stronger in better vs. poorer performers of the SORT. These results indicate an early activation of the RH that is closely followed by activation of the LH, to facilitate performance during word retrieval from SM.