Yahoo Finance Q1 Earnings Highlights: MACOM (NASDAQ:MTSI) Vs The Rest Of The Analog Semiconductors Stocks
Looking back on analog semiconductors stocks' Q1 earnings, we examine this quarter's best and worst performers, including MACOM (NASDAQ:MTSI) and its peers.
Demand for analog chips is generally linked to the overall level of economic growth, as analog chips serve as the building blocks of most electronic goods and equipment. Unlike digital chip designers, analog chip makers tend to produce the majority of their own chips, as analog chip production does not require expensive leading edge nodes. Less dependent on major secular growth drivers, analog product cycles are much longer, often 5-7 years.
The 15 analog semiconductors stocks we track reported a slower Q1; on average, revenues beat analyst consensus estimates by 1.9%. while next quarter's revenue guidance was in line with consensus. Stocks, especially growth stocks where cash flows further in the future are more important to the story, had a good end of 2023. But the beginning of 2024 has seen more volatile stock performance due to mixed inflation data, but analog semiconductors stocks have performed well, with the share prices up 17.7% on average since the previous earnings results.
MACOM (NASDAQ:MTSI)
Founded in the 1950s as Microwave Associates, a communications supplier to the US Army Signal Corp, today MACOM Technology Solutions (NASDAQ: MTSI) is a provider of analog chips used in optical, wireless, and satellite networks.
MACOM reported revenues of $181.2 million, up 7% year on year, in line with analysts' expectations. Overall, it was a weaker quarter for the company with a decline in its operating margin.
“Our engineering, sales, operations, quality and administrative teams are doing an excellent job supporting our customers,” said Stephen G. Daly, President and Chief Executive Officer.
The stock is up 6% since reporting and currently trades at $104.95.
Read our full report on MACOM here, it's free.
Best Q1: Impinj (NASDAQ:PI)
Founded by Caltech professor Carver Mead and one of his students Chris Diorio, Impinj (NASDAQ:PI) is a maker of radio-frequency identification (RFID) hardware and software.
Impinj reported revenues of $76.83 million, down 10.6% year on year, outperforming analysts' expectations by 4.4%. It was a very strong quarter for the company with a significant improvement in its inventory levels and an impressive beat of analysts' EPS estimates.
The market seems happy with the results as the stock is up 44.3% since reporting. It currently trades at $174.26.
Is now the time to buy Impinj? Access our full analysis of the earnings results here, it's free.
Weakest Q1: Microchip Technology (NASDAQ:MCHP)
Spun out from General Instrument in 1987, Microchip Technology (NASDAQ: MCHP) is a leading provider of microcontrollers and integrated circuits used mainly in the automotive world, especially in electric vehicles and their charging devices.
Microchip Technology reported revenues of $1.33 billion, down 40.6% year on year, falling short of analysts' expectations by 1.2%. It was a weak quarter for the company with underwhelming revenue guidance for the next quarter and a decline in its operating margin.
Microchip Technology posted the weakest performance against analyst estimates and slowest revenue growth in the group. As expected, the stock is down 2.3% since the results and currently trades at $91.61.
Read our full analysis of Microchip Technology's results here.
Universal Display (NASDAQ:OLED)
Serving major consumer electronics manufacturers, Universal Display (NASDAQ:OLED) is a provider of organic light emitting diode (OLED) technologies used in display and lighting applications.
Universal Display reported revenues of $165.3 million, up 26.7% year on year, surpassing analysts' expectations by 9.9%. Zooming out, it was a very strong quarter for the company with an impressive beat of analysts' EPS estimates and a significant improvement in its gross margin.
Universal Display delivered the biggest analyst estimates beat and fastest revenue growth among its peers. The stock is up 42.4% since reporting and currently trades at $222.60.
Read our full, actionable report on Universal Display here, it's free.
Himax (NASDAQ:HIMX)
Taiwan-based Himax Technologies (NASDAQ:HIMX) is a leading manufacturer of display driver chips and timing controllers used in TVs, laptops, and mobile phones.
Himax reported revenues of $207.6 million, down 15% year on year, surpassing analysts' expectations by 2%. Overall, it was a slower quarter for the company with a decline in its operating margin.
The stock is up 47.5% since reporting and currently trades at $7.69.
Read our full, actionable report on Himax here, it's free.
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