Semiconductor Earnings Are Mixed Bag, Analysts Say: 6 Companies In Spotlight, Including: Skyworks, AMD, Qualcomm
Portfolio Pulse from Surbhi Jain
The semiconductor industry is experiencing mixed Q4 earnings results, with KeyBanc Capital Markets providing insights and ratings for six companies reporting in the upcoming week: AMD, MCHP, QRVO, QCOM, SLAB, and SWKS. Texas Instruments and Intel reported lower-than-expected results and guidance, while optimism remains for AMD, and solid results are expected for smartphone semiconductor companies. The IoT sector, represented by SLAB, is anticipated to show gradual recovery.
January 29, 2024 | 7:27 pm
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NEGATIVE IMPACT
Microchip Technology is expected to post in-line results and slightly lower guidance, reflecting demand weakness and inventory de-stocking.
In-line results with lower guidance due to demand weakness could lead to a negative short-term impact on MCHP's stock price.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
Silicon Laboratories is expected to report in-line results and guidance, with a focus on inventory destocking progress.
In-line results and guidance suggest a neutral short-term impact on SLAB's stock price, with gradual IoT sector recovery.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
KeyBanc analysts are optimistic about AMD's upcoming earnings, expecting higher results and guidance due to server share gains.
AMD is expected to report strong earnings and guidance, which could positively impact its stock price in the short term.
CONFIDENCE 80
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Qualcomm is anticipated to have solid results and guidance, supported by sustained Android recovery and steady iPhone demand.
Strong earnings and guidance for Qualcomm are likely to have a positive short-term impact on its stock price.
CONFIDENCE 80
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Qorvo is expected to report solid results and guidance, driven by Android recovery and holiday season demand.
Positive earnings and guidance driven by recovery in the Android segment could boost QRVO's stock in the short term.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 70
POSITIVE IMPACT
Skyworks Solutions is rated 'Overweight' by KeyBanc with a price target of $120, expecting solid results and guidance.
A positive rating and expected solid earnings could lead to an uptick in SWKS's stock price in the short term.
CONFIDENCE 75
IMPORTANCE 75
RELEVANCE 80