As the Q1 earnings season comes to a close, it’s time to take stock of this quarter’s best and worst performers in the analog semiconductors industry, including Himax (NASDAQ: HIMX) 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 strong Q1. As a group, revenues beat analysts’ consensus estimates by 2.2% while next quarter’s revenue guidance was 0.8% above.

Luckily, analog semiconductors stocks have performed well with share prices up 24.2% on average since the latest earnings results.

Best Q1: 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 $215.1 million, up 3.7% year on year. This print exceeded analysts’ expectations by 2.4%. Overall, it was an exceptional quarter for the company with a solid beat of analysts’ EPS estimates and revenue guidance for next quarter exceeding analysts’ expectations.

“The recent abrupt and significant NT dollar appreciation against the US dollar, its impact on our Q2 financial results is limited and has been accounted for in Q2 financial guidance. Currently, tariffs have not had a significant direct impact on Himax’s business, as our IC products are not directly exported to the U.S. Amid the volatile macro environment, most panel customers have adopted a make-to-order model and are keeping inventories lean. In response, we are carefully monitoring wafer-starts, maintaining low inventory levels, and rigorously controlling operating expenses,” said Mr. Jordan Wu, President and Chief Executive Officer of Himax.

Interestingly, the stock is up 26.3% since reporting and currently trades at $9.42.

Is now the time to buy Himax? Access our full analysis of the earnings results here, it’s free.

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 $1.45 billion, down 22.4% year on year, outperforming analysts’ expectations by 3.1%. The business had an exceptional quarter with a significant improvement in its inventory levels and a solid beat of analysts’ EPS estimates.

The market seems happy with the results as the stock is up 42.1% since reporting. It currently trades at $59.55.

Is now the time to buy onsemi? Access our full analysis of the earnings results here, it’s free.

Weakest Q1: 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 $715.2 million, down 4.2% year on year, falling short of analysts’ expectations by 0.6%. It was a slower quarter as it posted a significant miss of analysts’ EPS estimates and revenue guidance for next quarter meeting analysts’ expectations.

Vishay Intertechnology delivered the weakest performance against analyst estimates in the group. Interestingly, the stock is up 26.7% since the results and currently trades at $17.01.

Read our full analysis of Vishay Intertechnology’s results here.

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 $970.5 million, down 26.8% year on year. This number beat analysts’ expectations by 1%. Zooming out, it was a mixed quarter as it also recorded an impressive beat of analysts’ EPS estimates but revenue guidance for next quarter slightly missing analysts’ expectations.

Microchip Technology had the slowest revenue growth among its peers. The stock is up 51.5% since reporting and currently trades at $74.40.

Read our full, actionable report on Microchip Technology 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 $105.5 million, up 15.1% year on year. This result was in line with analysts’ expectations. It was a very strong quarter as it also produced an impressive beat of analysts’ EPS estimates and a solid beat of analysts’ adjusted operating income estimates.

The stock is down 4.5% since reporting and currently trades at $56.38.

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

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.

Want to invest in winners with rock-solid fundamentals? Check out our Top 5 Growth Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.

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