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Q1 Rundown: Texas Instruments (NASDAQ:TXN) Vs Other Analog Semiconductors Stocks

TXN Cover Image
Q1 Rundown: Texas Instruments (NASDAQ:TXN) Vs Other Analog Semiconductors Stocks

As the Q1 earnings season wraps, let's dig into this quarter's best and worst performers in the analog semiconductors industry, including Texas Instruments (NASDAQ:TXN) 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 exhibited impressive performance, with the share prices up 13.3% on average since the previous earnings results.

Texas Instruments (NASDAQ:TXN)

Headquartered in Dallas, Texas since the 1950s, Texas Instruments (NASDAQ:TXN) is the world’s largest producer of analog semiconductors.

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Texas Instruments reported revenues of $3.66 billion, down 16.4% year on year, topping analysts' expectations by 1.4%. It was a decent quarter for the company, with revenue and EPS exceeding expectations, driven by strong performance in its analog segment.

Texas Instruments Total Revenue
Texas Instruments Total Revenue

The stock is up 22.3% since the results and currently trades at $202.25.

Read our full report on Texas Instruments here, it's free.

Best Q1: 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, outperforming analysts' expectations by 9.9%. It was a very strong quarter for the company, with an impressive beat of analysts' EPS and revenue estimates.

Universal Display Total Revenue
Universal Display Total Revenue

Universal Display pulled off the biggest analyst estimates beat and fastest revenue growth among its peers. The stock is up 13.2% since the results and currently trades at $176.95.

Is now the time to buy Universal Display? 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 miss of analysts' revenue estimates.

Microchip Technology had the weakest performance against analyst estimates and slowest revenue growth in the group. The stock is up 6.6% since the results and currently trades at $99.96.

Read our full analysis of Microchip Technology's results here.

Monolithic Power Systems (NASDAQ:MPWR)

Founded in 1997 by its longtime CEO Michael Hsing, Monolithic Power Systems (NASDAQ:MPWR) is an analog and mixed signal chipmaker that specializes in power management chips meant to minimize total energy consumption.

Monolithic Power Systems reported revenues of $457.9 million, up 1.5% year on year, surpassing analysts' expectations by 2.9%. It was a solid quarter for the company, with an impressive beat of analysts' EPS estimates and optimistic revenue guidance for the next quarter.

The stock is up 18.8% since the results and currently trades at $772.95.

Read our full, actionable report on Monolithic Power Systems here, it's free.

Power Integrations (NASDAQ:POWI)

A leading supplier of parts for electronics such as home appliances, Power Integrations (NASDAQ:POWI) is a semiconductor designer and developer specializing in products used for high-voltage power conversion.

Power Integrations reported revenues of $91.69 million, down 13.7% year on year, surpassing analysts' expectations by 1.9%. It was a decent quarter for the company, with an impressive beat of analysts' EPS estimates but a decline in its operating margin.

The stock is up 12.4% since the results and currently trades at $78.98.

Read our full, actionable report on Power Integrations here, it's free.

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