Kulicke and Soffa (NASDAQ:KLIC) Q2 Earnings: Leading The Semiconductor Manufacturing Pack
Let’s dig into the relative performance of Kulicke and Soffa (NASDAQ:KLIC) and its peers as we unravel the now-completed Q2 semiconductor manufacturing earnings season.
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 very strong Q2. As a group, revenues beat analysts’ consensus estimates by 3.5% while next quarter’s revenue guidance was 6.5% above.
While some semiconductor manufacturing stocks have fared somewhat better than others, they have collectively declined. On average, share prices are down 3.2% since the latest earnings results.
Best Q2: 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 $330.4 million, up 123% year on year. This print exceeded analysts’ expectations by 5.7%. Overall, it was a stunning quarter for the company with a significant improvement in its inventory levels and a beat of analysts’ EPS estimates.
Lester Wong, Kulicke & Soffa’s Interim Chief Executive Officer and Chief Financial Officer, stated, “We see strong sequential growth in the third quarter and demand conditions continue to improve across all end markets. We remain closely engaged to support the evolving technology requirements of our industry, and remain committed to address the immediate and long-term production needs of our customers.”
Kulicke and Soffa Total Revenue
Kulicke and Soffa pulled off the fastest revenue growth of the whole group. Investor expectations, however, were likely higher than Wall Street’s published projections, leaving some wishing for even better results (analysts’ consensus estimates are those published by big banks and advisory firms, not the investors who make buy and sell decisions). The stock is down 12.9% since reporting and currently trades at $81.75.
A public company since the late 1960s, Semtech (NASDAQ:SMTC) is a provider of analog and mixed-signal semiconductors used for Internet of Things systems and cloud connectivity.
Semtech reported revenues of $341.9 million, up 32.7% year on year, outperforming analysts’ expectations by 4%. The business had a stunning quarter with a significant improvement in its inventory levels and a beat of analysts’ EPS estimates.
Semtech Total Revenue
The market seems content with the results as the stock is up 4.3% since reporting. It currently trades at $133.
Formed by the 1997 merger of the two leading semiconductor yield management companies, KLA Corporation (NASDAQ:KLAC) is the leading supplier of equipment used to measure and inspect semiconductor chips.
KLA Corporation reported revenues of $3.66 billion, up 15.2% year on year, exceeding analysts’ expectations by 1.3%. It may have had the worst quarter among its peers, but its results were still good as it also locked in a beat of analysts’ EPS estimates and a decent beat of analysts’ operating income estimates.
As expected, the stock is down 8.1% since the results and currently trades at $175.26.
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 $258.2 million, up 31.9% year on year. This number surpassed analysts’ expectations by 7.6%. Overall, it was a stunning quarter as it also put up a beat of analysts’ EPS estimates and an impressive beat of analysts’ operating income estimates.
The stock is up 19.8% since reporting and currently trades at $99.95.
Headquartered in Israel, Nova (NASDAQ:NVMI) is a provider of quality control systems used in semiconductor manufacturing.
Nova reported revenues of $255 million, up 15.9% year on year. This print topped analysts’ expectations by 1.6%. It was a very strong quarter as it also recorded a significant improvement in its inventory levels and an impressive beat of analysts’ operating income estimates.
The stock is down 13.4% since reporting and currently trades at $348.46.
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