Quarterly earnings results are a good time to check in on a company’s progress, especially compared to its peers in the same sector. Today we are looking at Impinj (NASDAQ: PI) and the best and worst performers in the analog semiconductors industry.

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 14 analog semiconductors stocks we track reported a satisfactory Q3. As a group, revenues beat analysts’ consensus estimates by 0.7% while next quarter’s revenue guidance was 8,316% above.

Amidst this news, share prices of the companies have had a rough stretch. On average, they are down 12.9% since the latest earnings results.

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 $96.06 million, flat year on year. This print exceeded analysts’ expectations by 3.6%. Overall, it was an exceptional quarter for the company with a significant improvement in its inventory levels and a beat of analysts’ EPS estimates.

Unsurprisingly, the stock is down 40.2% since reporting and currently trades at $144.75.

Is now the time to buy Impinj? Access our full analysis of the earnings results here, it’s free for active Edge members.

Best Q3: Skyworks Solutions (NASDAQ: SWKS)

Result of a merger of Alpha Industries and the wireless communications division of Conexant, Skyworks Solutions (NASDAQ: SWKS) is a designer and manufacturer of chips used in smartphones, autos, and industrial applications to amplify, filter, and process wireless signals.

Skyworks Solutions reported revenues of $1.1 billion, up 7.3% year on year, outperforming analysts’ expectations by 5.4%. The business had a stunning quarter with a beat of analysts’ EPS estimates and revenue guidance for next quarter exceeding analysts’ expectations.

Although it had a fine quarter compared its peers, the market seems unhappy with the results as the stock is down 7.3% since reporting. It currently trades at $66.70.

Is now the time to buy Skyworks Solutions? Access our full analysis of the earnings results here, it’s free for active Edge members.

Weakest Q3: 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 $139.6 million, down 13.6% year on year, falling short of analysts’ expectations by 15.9%. It was a disappointing quarter as it posted a significant miss of analysts’ revenue and adjusted operating income estimates.

Universal Display delivered the weakest performance against analyst estimates in the group. As expected, the stock is down 14.5% since the results and currently trades at $115.83.

Read our full analysis of Universal Display’s results here.

onsemi (NASDAQ: ON)

Spun out of Motorola in 1999 and built through a series of acquisitions, onsemi (NASDAQ: ON) is a global provider of analog chips specializing in autos, industrial applications, and power management in cloud data centers.

onsemi reported revenues of $1.55 billion, down 12% year on year. This print topped analysts’ expectations by 2.2%. Overall, it was a very strong quarter as it also produced a beat of analysts’ EPS estimates and a solid beat of analysts’ adjusted operating income estimates.

The stock is down 7% since reporting and currently trades at $47.13.

Read our full, actionable report on onsemi here, it’s free for active Edge members.

Vishay Intertechnology (NYSE: VSH)

Named after the founder's ancestral village in present-day Lithuania, Vishay Intertechnology (NYSE: VSH) manufactures simple chips and electronic components that are building blocks of virtually all types of electronic devices.

Vishay Intertechnology reported revenues of $790.6 million, up 7.5% year on year. This number surpassed analysts’ expectations by 1.2%. More broadly, it was a mixed quarter as it also recorded an impressive beat of analysts’ adjusted operating income estimates but EPS in line with analysts’ estimates.

The stock is down 17.2% since reporting and currently trades at $13.33.

Read our full, actionable report on Vishay Intertechnology here, it’s free for active Edge members.

Market Update

Thanks to the Fed’s rate hikes in 2022 and 2023, inflation has been on a steady path downward, easing back toward that 2% sweet spot. Fortunately (miraculously to some), all this tightening didn’t send the economy tumbling into a recession, so here we are, cautiously celebrating a soft landing. The cherry on top? Recent rate cuts (half a point in September 2024, a quarter in November) have propped up markets, especially after Trump’s November win lit a fire under major indices and sent them to all-time highs. However, there’s still plenty to ponder — tariffs, corporate tax cuts, and what 2025 might hold for the economy.

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