As Q1 earnings season comes to a close, it’s time to take stock of this quarter's best and worst performers amongst the analog semiconductors stocks, including Universal Display (NASDAQ:OLED) 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 slower Q1; on average, revenues beat analyst consensus estimates by 0.91%, while on average next quarter revenue guidance was 2.07% under consensus. There has been a stampede out of high valuation technology stocks as raising interest rates encourage investors to value profits over growth again, but analog semiconductors stocks held their ground better than others, with the share prices up 9.55% since the previous earnings results, on average.
Universal Display (NASDAQ:OLED)
Serving major consumer electronics manufacturers, Universal Display (NASDAQ:OLED) is a provider of organic light emitting diode (OLED) technologies used in display and lighting applications.
Universal Display reported revenues of $130.5 million, down 13.3% year on year, missing analyst expectations by 3.49%. It was a slower quarter for the company, with a miss of the top line analyst estimates and a decline in gross margin.
“Our first quarter results were in-line with our expectations and we are reaffirming our full year 2023 outlook,” said Brian Millard, Vice President and Chief Financial Officer of Universal Display Corporation.

The stock is up 7.83% since the results and currently trades at $138.5.
Is now the time to buy Universal Display? Access our full analysis of the earnings results here, it's free.
Best 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 $871 million, up 2.02% year on year, beating analyst expectations by 2.98%. It was a very strong quarter for the company, with a beat on the bottom line and very optimistic guidance for the next quarter.

The stock is up 34.6% since the results and currently trades at $28.48.
Is now the time to buy Vishay Intertechnology? Access our full analysis of the earnings results here, it's free.
Weakest Q1: Magnachip (NYSE:MX)
With its technology found in common consumer electronics such as TVs and smartphones, Magnachip Semiconductor (NYSE:MX) is a provider of analog and mixed-signal semiconductors.
Magnachip reported revenues of $57 million, down 45.2% year on year, missing analyst expectations by 6.55%. It was a weak quarter for the company, with underwhelming revenue guidance for the next quarter and a miss of the top line analyst estimates.
Magnachip had the weakest performance against analyst estimates and slowest revenue growth in the group. The stock is up 29% since the results and currently trades at $11.18.
Read our full analysis of Magnachip's results here.
Skyworks Solutions (NASDAQ:SWKS)
Result of a merger of Alpha Industries and the wireless communications division of Conexant, Skyworks Solutions (NASDAQ: SWKS) is a designer and manufacturer of chips used in smartphones, autos, and industrial applications to amplify, filter, and process wireless signals.
Skyworks Solutions reported revenues of $1.15 billion, down 13.7% year on year, inline with analyst expectations. It was a weak quarter for the company, with underwhelming revenue guidance for the next quarter and an increase in inventory levels.
The stock is up 2.53% since the results and currently trades at $108.
Read our full, actionable report on Skyworks Solutions here, it's free.
NXP Semiconductors (NASDAQ:NXPI)
Spun off from Dutch electronics giant Philips in 2006, NXP Semiconductors (NASDAQ: NXPI) is a designer and manufacturer of chips used in autos, industrial manufacturing, mobile devices, and communications infrastructure.
NXP Semiconductors reported revenues of $3.12 billion, down 0.48% year on year, beating analyst expectations by 3.95%. It was a decent quarter for the company, with very optimistic guidance for the next quarter but an increase in inventory levels.
The stock is up 19% since the results and currently trades at $197.5.
Read our full, actionable report on NXP Semiconductors here, it's free.
The author has no position in any of the stocks mentioned