In a week that marked the initiation of the fourth-quarter earnings season, the semiconductor industry is experiencing a mixed bag of results and forecasts.
While offering valuable insights, these earnings more importantly point to challenges and opportunities ahead. These help in investor positioning.
KeyBank Capital Markets shared their insights on the semiconductor space keeping the week’s earnings setup in frame. Among the companies in focus:
Advanced Micro Devices Inc (NASDAQ:AMD), Jan. 30
Microchip Technology Inc (NASDAQ:MCHP), Feb. 1
Qorvo Inc (NASDAQ:QRVO), Jan. 31
Qualcomm Inc (NASDAQ:QCOM), Jan. 31
Silicon Laboratories Inc (NASDAQ:SLAB), Jan. 31 and
Skyworks Solutions Inc (NASDAQ:SWKS), Jan. 30
The Semiconductor Analyst: KeyBanc analysts John Vinh, CFA and Jim Long, CFA shared their ratings and price targets on six semiconductor companies that are scheduled to report in the week ahead.
| Stock Ticker | Company Name | Rating | Price Target | Reporting On |
| SWKS | Skyworks Solutions, Inc. | Overweight | $120 | Jan. 30 |
| AMD | Advanced Micro Devices, Inc. | Overweight | $195 | Jan. 30 |
| SLAB | Silicon Laboratories Inc. | NA | NA | Jan. 31 |
| QCOM | Qualcomm Incorporated | Overweight | $165 | Jan. 31 |
| QRVO | Qorvo, Inc. | Sector Weight | NA | Jan. 31 |
| MHCP | Microchip Technology Incorporated | NA | NA | Feb. 1 |
KeyBanc Capital Markets ratings on semiconductor stocks
The Semiconductor Stocks’ Thesis:
Tempered Outlook Based On Earnings So Far
Texas Instruments Inc (NASDAQ:TXN) kicked off semiconductor stocks’ Q4 earnings on Jan. 23. It set the tone by unveiling lower-than-expected results and guidance, primarily attributed to incremental weaknesses in the industrial and automotive sectors.
Similarly, Intel Corp (NASDAQ:INTC), reported solid results but tempered its outlook on Jan. 25, citing headwinds from increased inventory correction in Mobileye Global Inc (NASDAQ:MBLY), Field-Programmable Gate Arrays (FPGAs), and 5G, alongside subseasonal performances in PCs and data centers.
Further revealing the industry’s landscape, STMicroelectronics NV (NYSE:STM) and Tesla Inc…
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