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Semiconductor Manufacturing Stocks Q3 Teardown: Amtech (NASDAQ:ASYS) Vs The Rest

By: StockStory

ASYS Cover Image

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 Amtech (NASDAQ: ASYS) and the best and worst performers in the semiconductor manufacturing industry.

The semiconductor industry is driven by demand for advanced electronic products like smartphones, PCs, servers, and data storage. The need for technologies like artificial intelligence, 5G networks, and smart cars is also creating the next wave of growth for the industry. Keeping up with this dynamism requires new tools that can design, fabricate, and test chips at ever smaller sizes and more complex architectures, creating a dire need for semiconductor capital manufacturing equipment.

The 14 semiconductor manufacturing stocks we track reported a satisfactory Q3. As a group, revenues beat analysts’ consensus estimates by 2% while next quarter’s revenue guidance was 1.3% below.

In light of this news, share prices of the companies have held steady as they are up 2.3% on average since the latest earnings results.

Amtech (NASDAQ: ASYS)

Focusing on the silicon carbide and power semiconductor sectors, Amtech Systems (NASDAQ: ASYS) produces the machinery and related chemicals needed for manufacturing semiconductors.

Amtech reported revenues of $24.11 million, down 13% year on year. This print exceeded analysts’ expectations by 1.5%. Despite the top-line beat, it was still a softer quarter for the company with revenue guidance for next quarter missing analysts’ expectations.

Amtech Total Revenue

Unsurprisingly, the stock is down 8.7% since reporting and currently trades at $5.56.

Read our full report on Amtech here, it’s free.

Best Q3: Nova (NASDAQ: NVMI)

Headquartered in Israel, Nova (NASDAQ: NVMI) is a provider of quality control systems used in semiconductor manufacturing.

Nova reported revenues of $179 million, up 38.9% year on year, outperforming analysts’ expectations by 4.1%. The business had a very strong quarter with a significant improvement in its inventory levels and revenue guidance for next quarter beating analysts’ expectations.

Nova Total Revenue

Nova scored the biggest analyst estimates beat and fastest revenue growth among its peers. However, the results were likely priced into the stock as it’s traded sideways since reporting. Shares currently sit at $193.

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

Weakest Q3: Kulicke and Soffa (NASDAQ: KLIC)

Headquartered in Singapore, Kulicke & Soffa (NASDAQ: KLIC) is a provider of production equipment and tools used to assemble semiconductor devices

Kulicke and Soffa reported revenues of $181.3 million, down 10.4% year on year, exceeding analysts’ expectations by 0.6%. Still, it was a softer quarter as it posted revenue guidance for next quarter missing analysts’ expectations.

Interestingly, the stock is up 5.1% since the results and currently trades at $49.49.

Read our full analysis of Kulicke and Soffa’s results here.

FormFactor (NASDAQ: FORM)

With customers across the foundry and fabless markets, FormFactor (NASDAQ: FORM) is a US-based provider of test and measurement technologies for semiconductors.

FormFactor reported revenues of $207.9 million, up 21.2% year on year. This result beat analysts’ expectations by 3.8%. Overall, it was a very strong quarter as it also logged a significant improvement in its inventory levels and an impressive beat of analysts’ EPS estimates.

The stock is flat since reporting and currently trades at $43.77.

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

IPG Photonics (NASDAQ: IPGP)

Both a designer and manufacturer of its products, IPG Photonics (NASDAQ: IPGP) is a provider of high-performance fiber lasers used for cutting, welding, and processing raw materials.

IPG Photonics reported revenues of $233.1 million, down 22.6% year on year. This number beat analysts’ expectations by 2.3%. Aside from that, it was a slower quarter as it produced a significant miss of analysts’ adjusted operating income and EPS estimates.

IPG Photonics had the slowest revenue growth among its peers. The stock is down 2.1% since reporting and currently trades at $77.64.

Read our full, actionable report on IPG Photonics here, it’s free.

Market Update

The Fed’s interest rate hikes throughout 2022 and 2023 have successfully cooled post-pandemic inflation, bringing it closer to the 2% target. Inflationary pressures have eased without tipping the economy into a recession, suggesting a soft landing. This stability, paired with recent rate cuts (0.5% in September 2024 and 0.25% in November 2024), has fueled a strong year for the stock market in 2024. The markets surged further after Donald Trump’s presidential victory in November, with major indices reaching record highs in the days following the election. Still, questions remain about the direction of economic policy, as potential tariffs and corporate tax changes add uncertainty heading into 2025.

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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