MU) compared to other semiconductor stocks

Earnings often indicate the direction a company will take in the coming months. With the second quarter behind us, let's take a look at Micron Technology (NASDAQ:MU) and its peers.

The semiconductor industry is driven by cyclical demand for sophisticated electronic products such as smartphones, PCs, servers, and data storage. While analog chips are the building blocks of most electronic goods and devices, processors (CPUs) and graphics chips serve as their brains. The growth of data and technologies such as artificial intelligence, 5G, Internet of Things, and smart cars are creating the next wave of long-term growth for the industry.

The 41 semiconductor stocks we track reported a mixed second quarter. Overall, revenue beat analyst consensus estimates by 1.3%, while next quarter's revenue forecast came in 4.4% lower.

Stocks – especially those trading at higher prices – had a strong end to 2023, but this year has seen periods of volatility. Mixed signals on inflation have led to uncertainty about rate cuts, and semiconductor stocks have had a rough patch. On average, share prices have fallen 9.4% since the most recent earnings results.

Micron Technology (NASDAQ:MU)

Founded in 1978 in the basement of a dentist's office in Boise, Idaho, Micron (NYSE:MU) is a leading supplier of memory chips used in thousands of mobile, data center, industrial, consumer and automotive devices.

Micron Technology reported revenue of $6.81 billion, up 81.5% year over year, beating analysts' expectations by 2%. Overall, it was an exceptional quarter for the company, with a significant improvement in gross margin and an impressive beat on analysts' EPS estimates.

The stock has fallen 39.3% since reporting and is currently trading at $86.50.

Is now the right time to buy Micron Technology? You can find our full analysis of the results here for free.

Best Q2: Himax (NASDAQ:HIMX)

Taiwan-based Himax Technologies (NASDAQ: HIMX) is a leading manufacturer of display driver chips and timing controllers for televisions, laptops and mobile phones.

Himax reported revenue of $239.6 million, up 2% year over year, beating analysts' expectations by 2.9%. The company had an exceptional quarter with a significant improvement in its gross margin.

Although the company had a good quarter compared to its peers, the market seems unhappy with the results as the stock has fallen 8.5% since the report, currently trading at $5.36.

Is now the right time to buy Himax? You can find our full analysis of the results here for free.

Weakest Q2: Lattice Semiconductor (NASDAQ:LSCC)

Lattice Semiconductor (NASDAQ: LSCC), a global category leader, is a semiconductor developer specializing in custom-programmable chips that improve CPU performance for compute-intensive tasks such as machine learning.

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Lattice Semiconductor reported revenue of $124.1 million, down 34.7 percent year over year and missing analysts' expectations by 4.7 percent. It was a disappointing quarter, as the company provided disappointing revenue guidance for the next quarter and a decline in its operating margin.

As expected, the stock has fallen 22.7% since the results were released and is currently trading at $42.45.

Read our full analysis of Lattice Semiconductor’s results here.

MACOM (NASDAQ:MTSI)

Founded in the 1950s as Microwave Associates, a communications supplier to the U.S. Army Signal Corp, MACOM Technology Solutions (NASDAQ: MTSI) is now a supplier of analog chips for use in optical, wireless and satellite networks.

MACOM reported revenue of $190.5 million, up 28.3% year over year. This figure was in line with analysts' expectations. Overall, it was an exceptional quarter as it resulted in a decline in gross margin and an increase in inventory.

The stock has fallen 4.5% since the report and is currently trading at $96.55.

Read our full, actionable report on MACOM for free here.

Teradyne (NASDAQ:TER)

Teradyne (NASDAQ:TER) is a U.S.-based supplier of automated test equipment for semiconductors and other technologies and devices, serving most major chip manufacturers.

Teradyne reported revenue of $729.9 million, up 6.6% year over year, beating analyst expectations by 4.1%. It was a strong quarter as it also saw a significant improvement in inventory levels and an impressive beat on analysts' EPS estimates.

The stock has fallen 12.5% ​​since reporting and is currently trading at $125.24.

Read our full, actionable report on Teradyne for free here.

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