Ultime notizie per Qorvo (NASDAQ:QRVO) Azioni

Qorvo

Qorvo represents the combined entity of RF Micro Devices and TriQuint Semiconductor, which merged in January 2015. The company specializes in radio frequency filters, power amplifiers, and front-end modules used in many of the world's most advanced smartphones. Qorvo also has a suite of products sold into a variety of nonsmartphone end markets, such as wireless base stations, cable TV and networking equipment, and infrastructure and military applications.

Qorvo Inc

3M (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MMM#NYSE">MMM</a>) reported quarterly earnings of $1.98 per share which beat the analyst consensus estimate of $1.90 by 4.21 percent. The company reported quarterly sales of $6.294 billion which beat the analyst consensus estimate of $6.057 billion by 3.92 percent. This is a 21.52 percent decrease over sales of $8.020 billion the same period last year.

Earnings

Earnings Beats

News

3M Q3 2024 Adj. EPS $1.98 Beats $1.90 Estimate, Sales $6.294B Beat $6.057B Estimate

PulteGroup Q3 2024 GAAP EPS $3.35 Beats $3.15 Estimate, Sales $4.476B Beat $4.255B Estimate

Needham analyst Charles Shi reiterates Synopsys (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNPS#NASDAQ">SNPS</a>) with a Buy and maintains $640 price target.

Price Target

Reiteration

Analyst Ratings

SNPS

Needham Reiterates Buy on Synopsys, Maintains $640 Price Target

Herc Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HRI#NYSE">HRI</a>) reported quarterly earnings of $4.35 per share which missed the analyst consensus estimate of $4.48 by 2.9 percent. This is a 8.75 percent increase over earnings of $4.00 per share from the same period last year. The company reported quarterly sales of $965.00 million which beat the analyst consensus estimate of $931.31 million by 3.62 percent. This is a 6.28 percent increase over sales of $908.00 million the same period last year.

Earnings Misses

Herc Hldgs Q3 2024 Adj EPS $4.35 Misses $4.48 Estimate, Sales $965.00M Beat $931.31M Estimate

General Motors Q3 2024 Adj. EPS $2.96 Beats $2.43 Estimate, Sales $48.757B Beat $44.585B Estimate

Guidance

GE Aerospace Sees 2024 Adj. Revenue Growth High Single Digits, Adj. EPS $4.20-$4.35, Operating Profit $6.7B-$6.9B

GE Aero Q3 GAAP Revenue $9.842B

GE Aero Q3 2024 Adj. EPS $1.15 Beats $1.14 Estimate, Adj. Revenue $8.9B

Stephens &amp; Co. analyst Jim Salera reiterates Cheesecake Factory (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CAKE#NASDAQ">CAKE</a>) with a Overweight and maintains $50 price target.

CAKE

Stephens & Co. Reiterates Overweight on Cheesecake Factory, Maintains $50 Price Target

Concurrently, the Board approved the appointment of a Chief Restructuring Officer, Jonathan Feldman, effective October 21, 2024, to lead the Company&rsquo;s ongoing operations.

Management

PIXY

On October 19, Shiftpixy Board Voted To Terminate Employment Of Scott Absher As CEO, Chairman, And President, Due To Initial Investigation Into Allegations Involving His Actions - Filing

Bernstein analyst Harshita Rawat downgrades Global Payments (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GPN#NYSE">GPN</a>) from Outperform to Market Perform and lowers the price target from $135 to $112.

Downgrades

Bernstein Downgrades Global Payments to Market Perform, Lowers Price Target to $112

Shiftpixy Says Patrice H. Launay Resigned Immediately As CFO On October 18

Bernstein analyst Brandon Fletcher initiates coverage on Dollar Tree (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DLTR#NASDAQ">DLTR</a>) with a Market Perform rating and announces Price Target of $76.

Initiation

DLTR

Bernstein Initiates Coverage On Dollar Tree with Market Perform Rating, Announces Price Target of $76

Contracts

Modine Says It Is Selected As The Thermal Management Supplier For GILLIG For Their Hybrid Vehicles

&quot;Our combined Metals revenues, including deferred revenues, nearly tripled from last quarter to over&nbsp;$200,000, and we expect this growth rate to continue in the&nbsp;fourth quarter, especially as both panel decommissioning and shipments of recycled materials increase,&quot; the company said.

LODE

Comstock Expects Growth Rate In Combined Metals Revenues To Continue In Q4, Especially As Both Panel Decommissioning And Shipments Of Recycled Materials Increase

Bernstein analyst Dean Rosenblum initiates coverage on Target (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TGT#NYSE">TGT</a>) with a Market Perform rating and announces Price Target of $168.

Bernstein Initiates Coverage On Target with Market Perform Rating, Announces Price Target of $168

Comstock Reports 9-Month Revenues Of $1.4M, Up From $0.8M Last Year

Polaris Cuts 2024 Adjusted EPS Forecast To Be Down Approximately 65% Y/Y Vs. Prior Outlook Of Down 56% - 62%

Polaris Updates 2024 Sales Outlook To Be Down Approximately 20% Y/Y Vs. Its Previous Outlook Of Down 17% - 20%

Banc of California (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BANC#NYSE">BANC</a>) reported reported quarterly sales of $232.175 million which beat the analyst consensus estimate of $227.499 million by 2.06 percent. This is a 235.43 percent increase over sales of $69.218 million the same period last year.

BANC

Banc of California Q3 2024 Sales $232.175M Beat $227.499M Estimate

The semiconductor industry is on the rise owing to the increasing demand, technological progress, and government investments. Thus, investors could consider investing in Taiwan Semiconductor (TSM), Qorvo (QRVO), and QUALCOMM (QCOM) to capitalize on the sector's growth before the next chip shortage. Read more… The global semiconductor industry is growing with rising electronics use and integration across applications such as networking communication devices, data processing, industrial automation, consumer electronics, automotive, and government projects. However, as the threat of a chip shortage looms, the industry might be in a challenging state.
Amid this backdrop, it could be wise to invest in fundamentally robust semiconductor stocks Taiwan Semiconductor Manufacturing Company Limited (<a href="https://stocknews.com/stock/TSM/">TSM</a>), Qorvo, Inc. (<a href="https://stocknews.com/stock/QRVO/">QRVO</a>), and QUALCOMM Incorporated (<a href="https://stocknews.com/stock/QCOM/">QCOM</a>) before the next chip shortage. The stocks are positioned for significant growth in the near future.
The semiconductor industry is experiencing rapid expansion owing to technological transformations across sectors. Key technologies such as Artificial intelligence (AI), Machine Learning (ML), cloud computing, 5G networks, autonomous vehicles, and big data analytics that rely heavily on semiconductor components are driving the industry growth.
Due to such massive demands, a shortage of semiconductor chips is expected soon. According to a report by <a href="https://www.bain.com/insights/prepare-for-the-coming-ai-chip-shortage-tech-report-2024/">Bain and Company</a>, an AI-driven surge in demand for graphics processing units alone could increase total demand for certain components by 30% or more by 2026. That along with geopolitical tensions and surge in demand of AI-enabled devices could likely trigger the next chip shortage.
That being said, the Semiconductor Industry Association (SIA) reported that global semiconductor industry sales totaled <a href="https://www.semiconductors.org/global-semiconductor-sales-increase-18-3-in-q2-2024-compared-to-q2-2023-quarter-to-quarter-sales-up-6-5/">$149.9 billion</a> during the second quarter of 2024, an 18.3% increase compared to the second quarter of 2023. Sales in June 2024 were $50.0 billion, a 1.7% increase compared to May 2024.
Looking ahead to 2025, the World Semiconductor Trade Statistics (WSTS) forecasts <a href="https://www.wsts.org/esraCMS/extension/media/f/WST/6558/WSTS_FC-Release-2024_05.pdf">a 12.5% growth</a> in the global semiconductor market, reaching an estimated valuation of $687 billion. This growth is expected primarily by the Memory and Logic sectors, with significant increases projected.
Moreover, government initiatives are further boosting the sector's growth prospects. <a href="https://www.whitehouse.gov/briefing-room/statements-releases/2022/08/09/fact-sheet-chips-and-science-act-will-lower-costs-create-jobs-strengthen-supply-chains-and-counter-china/">The CHIPS and Science Act</a> aims to strengthen U.S. semiconductor manufacturing, boost domestic production, and reduce supply chain vulnerabilities by investing in American chip-making capabilities.
Thus, by investing in these three stocks, one could capitalize on the current growth potential. As demand rises and technological advancements continue, these companies are well-positioned to benefit from the expanding semiconductor industry and are likely to deliver strong returns in the near future.
Considering these trends, let's analyze the fundamentals of three <a href="https://stocknews.com/category/semiconductor-wireless-chip/">Semiconductor &amp; Wireless Chip</a> stocks, beginning with #3.
Stock #3: Taiwan Semiconductor Manufacturing Company Limited (<a href="https://stocknews.com/stock/TSM/">TSM</a>)
Headquartered in Hsinchu City, Taiwan, TSM manufactures, packages, tests, and sells integrated circuits and other semiconductor devices internationally. The company provides a range of wafer fabrication processes and also offers customer and engineering support services.
On August 20, ESMC, a joint venture between TSM, Robert Bosch GmbH, Infineon Technologies AG, and NXP Semiconductors N.V., <a href="https://pr.tsmc.com/english/news/3169">announced a ceremony</a> to mark the initial phase of land preparation for the joint venture's first semiconductor lab in Dresden, Germany.
With this new venture, TSM would be able to expand its market exposure and business operations.
TSM's net revenue increased 40.1% year-over-year to $20.82 billion for the fiscal 2024 second quarter that ended June 30. Its gross profit grew 37.6% from the year-ago value to $11.07 billion. The company's income from operations of $8.86 billion indicates growth of 41.9% from the prior year's quarter.
In addition, the company's <a href="https://www.investopedia.com/terms/n/netincome.asp">net income</a> and EPS rose 36.3% and 36.4% year-over-year to $7.66 billion and $0.30, respectively.
Analysts expect TSM's revenue for the fiscal third quarter ending in September 2024 to increase 38.1% year-over-year to $23.33 billion. Its EPS for the ongoing quarter is expected to grow 37.9% from the prior year's period to $1.78. Moreover, the company topped the consensus revenue and EPS estimates in all four trailing quarters.
TSM's shares have gained 32.1% over the past six months and 118.1% over the past year to close the last trading session at $188.19.
TSM's strong fundamentals are reflected in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 different factors, with each factor weighted to an optimal degree.
It has an A grade for Quality and a B for Sentiment. TSM is ranked #11 out of 91 stocks in the <a href="https://stocknews.com/category/semiconductor-wireless-chip/">Semiconductor &amp; Wireless Chip</a> industry.
In addition to the POWR Ratings we've stated above, we also have TSM's ratings for Growth, Momentum, Value, and Stability. Get all TSM ratings <a href="https://stocknews.com/stock/TSM/">here</a>.
Stock #2: Qorvo, Inc. (<a href="https://stocknews.com/stock/QRVO/">QRVO</a>)
QRVO develops and commercializes technologies for wireless, wired, and power markets. The company's operations span three segments: High Performance Analog (HPA); Connectivity and Sensors Group (CSG); and Advanced Cellular Group (ACG). It also offers foundry services for defense and aerospace clients.
On January 31, QRVO <a href="https://ir.qorvo.com/news-releases/news-release-details/qorvor-acquire-anokiwave">announced a definitive agreement</a> to acquire Anokiwave, a supplier of high-performance silicon integrated circuits for intelligent active array antennas used in defense, SATCOM, and 5G applications. Anokiwave's high-frequency beamforming and IF-to-RF conversion ICs would complement QRVO's existing RF front-end portfolio.
The combination of QRVO's capabilities with Anokiwave's technology would enable QRVO to deliver highly integrated solutions and SiPs for defense, aerospace, and network infrastructure.
QRVO's revenue for the fiscal 2025 first quarter, which ended on June 29, 2024, increased 36.2% year-over-year to $886.67 million. Its non-GAAP operating income rose 110.1% year-over-year to $98.13 million.
Additionally, the company's non-GAAP net income amounted to $83.52 million, or $0.87 per share, up 148.5% and 155.9% year-over-year, respectively.
QRVO <a href="https://ir.qorvo.com/news-releases/news-release-details/qorvor-announces-fiscal-2025-first-quarter-financial-results">exceeded its June quarterly guidance</a> for revenue, gross margin, and EPS. Looking forward, the company expects sequential increases for the same.
For the September 2024 quarter, QRVO projects revenue of approximately $1.025 billion, with a potential leeway of $25 million. Non-GAAP gross margin is expected to be between 46% and 47%, while non-GAAP diluted earnings per share are forecasted to be between $1.75 and $1.95.
Street expects QRVO's revenue and EPS for the next fiscal year ending in March 2026 to increase 8% and 28.3% year-over-year to $4.27 billion and $7.97, respectively. Moreover, the company has surpassed the consensus revenue and EPS estimates in each of the trailing four quarters.
Shares of QRVO have gained 7.8% over the past year to close the last trading session at $104.05.
QRVO's promising outlook is reflected in its POWR Ratings. It has an overall rating of B, equating to a Buy in our proprietary rating system.
QRVO has a B grade for Growth, Sentiment, Value, and Quality. It is ranked #3 out of 91 stocks within the same industry.
Beyond what we stated above, we have also given QRVO grades for Momentum and Stability. Get all the QRVO's ratings <a href="https://stocknews.com/stock/QRVO/">here</a>.
Stock #1: QUALCOMM Incorporated (<a href="https://stocknews.com/stock/QCOM/">QCOM</a>)
QCOM develops and commercializes wireless technologies like 3G, 4G, and 5G, as well as high-performance computing and artificial intelligence. Its segments include Qualcomm CDMA Technologies; Qualcomm Technology Licensing; and Qualcomm Strategic Initiatives.
On September 11, QCOM's subsidiary Qualcomm Technologies, Inc. <a href="https://www.qualcomm.com/news/releases/2024/09/qualcomm--aramco-and-rdia-plan-design-in-saudi-arabia-startup-pr">announced the launch</a> of Design in Saudi Arabia (DISA) along with Aramco and Saudi Arabia's Research, Development, and Innovation Authority (RDIA).
With the help of QCOM's utilities, DISA is aimed at supporting startups that are adopting AI, the Internet of Things (IoT), and wireless technologies for industrial use cases. The development would help QCOM spread its business worldwide and gather more market exposure.
QCOM's revenues for the fiscal 2024 third quarter, which ended June 23, increased 11.2% year-over-year to $9.39 billion. The company reported a non-GAAP operating income of $3.02 billion, indicating a 19.7% growth from the prior year's quarter.
QCOM's non-GAAP net income came in at $2.65 billion, up 25.8% year-over-year, while its non-GAAP EPS grew 24.6% from the prior-year quarter to $2.33.
The consensus revenue and EPS estimates of $9.86 billion and $2.55 for the fiscal fourth quarter ending September 2024 reflect a rise of 13.8% and 26.1% year-over-year, respectively. Furthermore, the company topped the consensus revenue and EPS estimates in all of the four trailing quarters.
QCOM shares have surged 19.8% over the past nine months and 55.6% over the past year to close the last trading session at $171.78.
QCOM's bright prospects are reflected in its POWR Ratings. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system.
QCOM has an A grade for Quality. It has topped the 91-stock Semiconductor &amp; Wireless Chip industry.
<a href="https://stocknews.com/stock/QCOM/">Click here</a> to see QCOM's ratings for Growth, Value, Momentum, Stability, and Sentiment.
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TSM shares were trading at $186.68 per share on Thursday morning, up $4.33 (+2.37%). Year-to-date, TSM has gained 81.05%, versus a 21.87% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Aanchal Sugandh</h2> <img src='https:/wp-content/uploads/2022/12/Aanchal-Sugandh_Headshot.jpg' style="float:left; padding:5px;width:125px;">Aanchal's passion for financial markets drives her work as an investment analyst and journalist. She earned her bachelor's degree in finance and is pursuing the CFA program.

She is proficient at assessing the long-term prospects of stocks with her fundamental analysis skills. Her goal is to help investors build portfolios with sustainable returns.<a href="https://stocknews.com/authors/?author=aanchal-sugandh">More...</a>The post <a href=https://stocknews.com/news/tsm-qcom-qrvo-3-semiconductor-stocks-to-buy-before-the-next-chip-shortage/>3 Semiconductor Stocks to Buy Before the Next Chip Shortage</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 Semiconductor Stocks to Buy Before the Next Chip Shortage

The semiconductor sector is flourishing, with government support and solid consumption boosting industry confidence. As technologies and integration activities improve, high-growth semiconductor stocks such as Silicon Motion Technology (SIMO), SMART Global Holdings (SGH), and Qorvo (QRVO) could be ideal buys now and beyond. Read more... As consumer electronics consumption increases exponentially, the demand for semiconductors is boosting. The rising application of chips across many industries has further widened its scope and possibilities. Also, the growing integration across applications and technological advancements is booming the semiconductor industry.
Given this backdrop, it could be wise to buy high-growth semiconductor stocks Silicon Motion Technology Corporation (<a href="https://stocknews.com/stock/SIMO/">SIMO</a>), SMART Global Holdings, Inc. (<a href="https://stocknews.com/stock/SGH/">SGH</a>), and Qorvo, Inc. (<a href="https://stocknews.com/stock/QRVO/">QRVO</a>) for favorable returns.
The semiconductor industry is expanding rapidly with the increasing chip demand across various industries like consumer electronics, transportation, medical applications, and industrial automation. Also, the swift technological transformation has led to increased AI chips, high-bandwidth memory, and high-performance chip requirements.
The <a href="https://www.semiconductors.org/global-semiconductor-sales-increase-18-3-in-q2-2024-compared-to-q2-2023-quarter-to-quarter-sales-up-6-5/">SIA reported global semiconductor industry sales</a> of $149.90 billion for the second quarter of 2024, indicating an increase of 18.3% from the second quarter of 2023 and 6.5% up from the first quarter of 2024. Sales for the month of June 2024 were $50 billion, up 1.7% compared to May 2024. These statistics project an uptrend in chip sales.
Further, the establishment of the <a href="https://www.whitehouse.gov/briefing-room/statements-releases/2022/08/09/fact-sheet-chips-and-science-act-will-lower-costs-create-jobs-strengthen-supply-chains-and-counter-china/">CHIPS and Science Act</a> has strengthened the U.S. semiconductor market, with its objectives to increase chip manufacturing, boost domestic production, and reduce supply chain vulnerabilities by investing in American chip-making capabilities.
The worldwide <a href="https://www.statista.com/outlook/tmo/semiconductors/worldwide">revenue in the semiconductors market</a> is expected to reach $607.40 billion in 2024. Further, driven by growing product use in consumer electronics and Integrated Circuits Integration, the global semiconductor market is anticipated to grow at a notable <a href="https://www.fortunebusinessinsights.com/semiconductor-market-102365">CAGR of 14.9%</a>, expanding to $2.06 trillion by 2032.
In global comparison, the U.S. semiconductor market is expected to reach a value of $258.30 billion in 2032. In the forecast period, the global market will benefit from the development of artificial intelligence (AI), the Internet of Things (IoT), and machine learning (ML) technologies.
Considering these encouraging industry trends, let's delve deeper into the fundamentals of top <a href="https://stocknews.com/category/semiconductor-wireless-chip/">Semiconductor &amp; Wireless Chip</a> stocks, beginning with the third choice.
Stock #3: Silicon Motion Technology Corporation (<a href="https://stocknews.com/stock/SIMO/">SIMO</a>)
Headquartered in Hong Kong, SIMO designs, develops, and markets NAND flash controllers for solid-state storage devices internationally. It provides controllers for computing-grade solid state drives (SSDs), for PCs and other client devices, and enterprise-grade SSDs used in data centers.
SIMO's <a href="https://www.investopedia.com/terms/r/revenue.asp">revenue</a> and EBITDA have grown at respective CAGRs of 11.2% and 3.6% over the past five years. The company's EBIT has increased by 2.7% over the same timeframe, while its tangible book value and total assets have improved at CAGRs of 7.9% and 8.2%, respectively.
On August 7, SIMO launched SM2508, the best power-efficiency PCIe Gen5 NVMe 2.0 client SSD controller for AI PCs and gaming consoles. The Gen5 SSD controller is designed to cater to the demands of today's AI-capable PCs, delivering high performance and power efficiency to meet the evolving AI PC standards.
On June 3, SIMO launched the SM770 USB display interface SoC for USB docking stations to simplify connectivity for multiple 4K Ultra-High Definition Displays with low latency and low power consumption. The SM770 supports up to three 4K 60Hz UHD displays and up to 144Hz display, allowing flexible connections with PC notebooks.
During the second quarter that ended June 30, 2024, SIMO's net sales rose 50.1% year-over-year to $210.67 million. Its non-GAAP gross profit grew 62.2% from the year-ago value to $96.84 million. The company's non-GAAP operating profit of $34.71 million reflects growth of 197.1% year-over-year.
In addition, the company's non-GAAP net income and earnings per ADS totaled $32.46 million and $0.96, up 157.9% and 152.6% from the prior year's quarter, respectively.
Street expects SIMO's revenue for the third quarter (ended September 2024) to increase 21.4% year-over-year to $209.16 million. Its EPS for the same quarter is expected to grow 35% year-over-year to $0.85. Also, the company has topped the consensus EPS and revenue estimates in each of the four trailing quarters, which is impressive.
Shares of SIMO have surged 16.7% over the past year to close the last trading session at $60.08.
SIMO's solid fundamentals are reflected in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 different factors, each weighted to an optimal degree.
SIMO has an A grade for Value. It also has a B grade for Growth. It is ranked #9 out of 91 stocks in the <a href="https://stocknews.com/category/semiconductor-wireless-chip/">Semiconductor &amp; Wireless Chip</a> industry.
In addition to the POWR Ratings we've stated above, we also have SIMO's ratings for Momentum, Sentiment, Stability, and Quality. Get all SIMO ratings <a href="https://stocknews.com/stock/SIMO/">here</a>.
Stock #2: SMART Global Holdings, Inc. (<a href="https://stocknews.com/stock/SGH/">SGH</a>)
SGH engages in the designing and development of enterprise solutions internationally. The company operates through Memory Solutions; Intelligent Platform Solutions; and LED Solutions segments.
SGH's EBITDA has increased at a CAGR of 0.6% over the past three years. The company's tangible book value has increased 13.5% over the same timeframe, while its total assets and levered free cash flow have improved at CAGRs of 9.2% and 67.7%, respectively.
On September 17, SGH's company SMART Modular Technologies, Inc. introduced a proprietary technology to mitigate the adverse impact of single event upsets in high-reliability flash-memory-based systems. Its MP3000 NVMe SSD products with SEU mitigation reduce annual failure rates from 17.5k/Mu (million units) to below 10/Mu.
The new technology saves a wholesome amount of money in potential service costs by helping to ensure hundreds of hours of uninterrupted uptime, which is especially important for tough-to-repair remote deployments.
On September 10, SGH's company Stratus Technologies Inc. expanded its Linux capabilities for its 12th generation of the ftServer platform. The Stratus ftServer&#xAE; family of computing platforms addresses a critical market need for optionality and openness in virtualization while continuing to provide industry-leading fault-tolerant computing capabilities.
For the third quarter that ended May 31, 2024, SGH reported total net sales of $300.58 million, up 5.5% from the prior quarter. Its non-GAAP gross profit grew 8.1% from the quarter-ago value to $96.96 million. The company's non-GAAP operating income of $33.32 million indicates growth of 25.7% from the prior quarter.
In addition, non-GAAP net income attributable to SGH and EPS came in at $20.22 million and $0.37, up 43% and 37% from the prior quarter, respectively.
Street expects SGH's revenue and EPS for the first quarter (ending November 2024) to increase 22.2% and 72.7% year-over-year to $335 million and $0.41, respectively. Furthermore, the company surpassed the consensus EPS estimates in three of the trailing four quarters.
SGH's stock has gained 3.5% over the past month to close the last trading session at $20.54.
SGH's bright prospects are reflected in its POWR Ratings. The stock has an overall rating of B, equating to a Buy in our proprietary rating system.
The stock has a B grade for Growth, Value, and Quality. SGH is ranked #5 among 91 stocks in the Semiconductor &amp; Wireless Chip industry.
<a href="https://stocknews.com/stock/SGH/">Click here</a> to access SGH's ratings for Stability, Sentiment, and Momentum.
Stock #1: Qorvo, Inc. (<a href="https://stocknews.com/stock/QRVO/">QRVO</a>)
QRVO engages in developing and commercializing technologies and products for wireless, wired, and power markets globally. The company operates through three segments: High Performance Analog (HPA); Connectivity and Sensors Group (CSG); and Advanced Cellular Group (ACG).
QRVO's revenue and EBIT have grown at respective CAGRs of 4.8% and 2% over the past five years. The company's normalized net income has increased by 2.8% over the same timeframe, while its total assets and levered free cash flow have improved at CAGRs of 1.7% and 0.3%, respectively.
On January 31, QRVO entered a definitive agreement to acquire Anokiwave, a supplier of high-performance silicon integrated circuits for intelligent active array antennas. Anokiwave's high-frequency beamforming and IF-to-RF conversion ICs complement QRVO's existing RF front-end portfolio.
The strategic acquisition bodes well with QRVO's operations. Anokiwave's solutions expanded QRVO's addressable opportunities in D&amp;A, SATCOM, and 5G Markets.
QRVO's total revenue increased 36.2% year-over-year to $886.67 million during the first quarter that ended June 29, 2024. Its non-GAAP gross profit rose 29.8% year-over-year to $362.66 million. The company's non-GAAP operating income of $98.12 million indicates growth of 110% from the prior year's quarter.
Furthermore, the company's non-GAAP net income increased 148.7% and 155.9% from the year-ago value to $83.52 million and $0.87 per share, respectively.
According to QRVO's current outlook for the September 2024 quarter, its quarterly revenue is expected to be $1.02 billion, plus or minus $25 million. And its non-GAAP earnings per share is expected between $1.75 and $1.95.
Analysts expect QRVO's revenue for the fourth quarter (ending March 2025) to increase 2.9% year-over-year to $968.46 million, and its EPS is expected to grow 6.8% year-over-year to $1.48. Moreover, the company has topped the consensus revenue and EPS estimates in each of the trailing four quarters, which is impressive.
QRVO's stock has soared 7.4% over the past year to close the last trading session at $102.15.
QRVO's POWR Ratings reflect its robust outlook. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system.
The stock has a B grade for Growth, Quality, Value, and Sentiment. Within the same industry, QRVO is ranked #3 among 91 stocks.
<a href="https://stocknews.com/stock/QRVO/">Click here</a> to access additional ratings of QRVO for Stability and Momentum.
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QRVO shares were trading at $100.42 per share on Thursday afternoon, down $1.73 (-1.69%). Year-to-date, QRVO has declined -10.82%, versus a 20.29% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Rjkumari Saxena</h2> <img src='https:/wp-content/uploads/2024/04/Rajkumari-Saxena_Image-1.jpeg' style="float:left; padding:5px;width:125px;">Rajkumari started her career as a writer but gradually shifted her focus to financial journalism, leveraging her educational background in Commerce. Fascinated by the interplay of business and economic shifts in equities, she aspires to evolve as an analyst. With a knack for simplifying complex financial concepts, her mission is to empower investors with insights that lead to profitable decisions.<a href="https://stocknews.com/authors/?author=rajkumari-saxena">More...</a>The post <a href=https://stocknews.com/news/qrvo-simo-sgh-3-high-growth-semiconductor-stocks-to-buy-and-hold/>3 High Growth Semiconductor Stocks to Buy and Hold</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 High Growth Semiconductor Stocks to Buy and Hold

Semiconductors Winners And Losers As Of Q4 2024

Barclays Reaffirms Their Hold Rating on Qorvo (QRVO)

'Out of touch:' Skyworks Solutions, Cirrus Logic sink on Barclays downgrade

Qorvo dips as Morgan Stanley cuts rating on 'limited upside'

The technology market is growing thanks to supportive government initiatives, wide enterprise demands, and digital technologies. Thus, investors could consider investing in analysts' favorite tech stocks, Workday (WDAY), Qorvo (QRVO), and Informatica (INFA), for potential gains. Read on... The technology industry is experiencing exponential growth and expansion with the rapid technological advancements. Moreover, recent surges in demand and advancements in emerging technologies like AI and ML are creating new avenues for growth in the market.
Given the industry tailwinds, fundamentally sound tech stocks Workday, Inc. (<a href="https://stocknews.com/stock/WDAY/">WDAY</a>), Qorvo, Inc. (<a href="https://stocknews.com/stock/QRVO/">QRVO</a>), and Informatica Inc. (<a href="https://stocknews.com/stock/INFA/">INFA</a>) could be ideal portfolio additions that analysts love right now.
The recent years have marked significant innovations and inventions in the tech field, like software applications and semiconductors, propelling the overall market's trajectory, and the recent Federal Reserve interest rate cuts will further attract higher prospects and shape the landscape.
It also has been observed that companies engaged in the segment are investing more and more funds in software to accelerate digitalization and advancements in operations.
With this background, <a href="https://www.statista.com/outlook/tmo/software/worldwide">revenue in the software market</a> is expected to reach $702 billion this year, with enterprise software anticipated to dominate, reaching $294.30 billion. Also, the market is expected to continue to flourish at a steady CAGR of 5% during, resulting in a market volume of $896.20 billion by 2029.
Besides, <a href="https://www.custify.com/blog/future-of-saas-trends-and-predictions-2024/">the Software-as-a-Service (SaaS) market</a> has shown no signs of slowing down. Even expenditure in SaaS is forecasted to surge by 17.7%, coming to a total of $232 billion this year. Trends like the integration of SaaS technology with Artificial intelligence (AI) and machine learning (ML) to improve operational efficiency and develop business intelligence have contributed vastly.
In light of these encouraging trends, let's look at the fundamentals of the three best tech stock picks.
Workday, Inc. (<a href="https://stocknews.com/stock/WDAY/">WDAY</a>)
WDAY offers enterprise cloud applications internationally. The company's applications help its customers to plan, execute, analyze, and extend to other applications and environments to manage their business and operations.
On September 19, WDAY and The Josh Bersin Company announced a partnership aimed at integrating The Josh Bersin Company's market-leading AI-powered expert assistant, Galileo&#x2122;, with Workday Human Capital Management (HCM). This integration will allow WDAY users to ask questions about current HR best practices and get advice and assistance.
On September 18, WDAY launched Workday Wellness, a new AI-powered solution that will provide companies with a real-time view into which benefits and wellness offerings their employees want and use. This will empower companies with AI-driven recommendations and deliver a more personalized wellness experience for their employees.
Also, on the same day, WDAY launched 12 new Industry Accelerators to help customers rapidly modernize their HR and finance operations through the combination of Workday and its partner ecosystem. These accelerators are available for domains like Banking, Healthcare, Higher Education, Professional Services, Retail and Hospitality, Technology and Media Sectors, and More.
For the second quarter that ended on July 31, 2024, WDAY's total revenues increased 16.7% year-over-year to $2.09 billion. Its non-GAAP <a href="https://www.investopedia.com/terms/o/operatingincome.asp">operating income</a> grew 23% from the year-ago value to $518 million. The company's net income came in at $132 million, up 67.1% from the prior year's quarter, and its non-GAAP net income per share rose 22.4% year-over-year to $1.75.
Furthermore, the company's free cash flows of $516 million reflect a growth of 43.3% from the prior-year period.
The company updated its guidance for the fiscal 2025. WDAY expects Subscription revenue of $1.95 billion, representing growth of 16% during the third quarter.
Also, for the full year, the company expects Subscription revenue to range between $7.70 billion and $7.72 billion, reflecting growth of approximately 17%.
Street expects WDAY's revenue and EPS for the third quarter (ending October 2024) to increase 14.2% and 14.9% year-over-year to $2.13 billion and $1.76, respectively. Moreover, the company surpassed the consensus revenue and EPS estimates in each of the trailing four quarters.
WDAY's stock has gained 13.6% over the past year to close the last trading session at $244.83. Wall Street analysts expect the stock to hit $287.73 in the near term, indicating a potential <a href="https://www.tipranks.com/stocks/wday/forecast">upside of 18.78%</a>.
WDAY's solid outlook is reflected in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 different factors, each weighted to an optimal degree.
The stock has an A grade for Growth. It also has a B grade for Quality and Sentiment. Within the <a href="https://stocknews.com/category/software-application/">Software - Application</a> industry, WDAY is ranked #22 out of 131 stocks.
<a href="https://stocknews.com/stock/WDAY/">Click here</a> to access additional ratings of WDAY (Value, Stability, and Momentum).
Qorvo, Inc. (<a href="https://stocknews.com/stock/QRVO/">QRVO</a>)
QRVO engages in the development and commercialization of technologies and products for wireless, wired, and power markets globally. The company operates through three segments: High Performance Analog (HPA); Connectivity and Sensors Group (CSG); and Advanced Cellular Group (ACG).
In terms of forward Price/Sales, QRVO is trading at 2.49x, 16% lower than the industry average of 2.96x. Likewise, the stock's forward Price/Book multiple of 2.66 is 38.2% lower than the industry average of 4.31. Also, its forward EV/EBITDA of 14.03x is 6.3% lower than the industry average of 14.98x.
During the first quarter that ended June 29, 2024, QRVO's total revenue rose 36.2% year-over-year to $886.67 million. The company's non-GAAP gross profit grew 29.8% from the prior-year quarter to $362.66 million. Also, its non-GAAP operating income stood at $98.12, which indicates a 110% growth from the prior year's quarter.
In addition, the company's non-GAAP net income increased 148.7% and 155.9% from the year-ago value to $83.52 million and $0.87 per share, respectively.
Analysts expect QRVO's revenue for the fourth quarter (ending March 2025) to increase 2.8% year-over-year to $967.41 million and its EPS for the same period is projected to increase 7.3% year-over-year to $1.49. Further, QRVO topped the consensus EPS and revenue estimates in each of the trailing four quarters, which is impressive.
Shares of QRVO have surged 2.6% over the past month and 12.3% over the past year to close the last trading session at $103.58. Wall Street analysts expect the stock to hit $127 in the near term, indicating a <a href="https://www.tipranks.com/stocks/qrvo/forecast">21.37% potential upside</a>.
QRVO's POWR Ratings reflect its bright prospects. The stock has an overall rating of B, which equates to a Buy in our proprietary rating system.
QRVO has a B grade for Value, Growth, and Quality. The stock is ranked #3 among 92 stocks in the <a href="https://stocknews.com/category/semiconductor-wireless-chip/">Semiconductor &amp; Wireless Chip</a> industry.
In addition to the POWR Ratings I've just highlighted, you can see QRVO's ratings for Stability, Sentiment, and Momentum <a href="https://stocknews.com/stock/QRVO/">here</a>.
Informatica Inc. (<a href="https://stocknews.com/stock/INFA/">INFA</a>)
INFA develops an artificial intelligence-powered platform that connects, manages, and unifies data across multi-vendor, multi-cloud, and hybrid systems at enterprise scale internationally. Its platform includes a suite of interoperable data management products, API and application integration products.
On October 1, INFA was selected by leading New Zealand utility company Genesis Energy to provide sustainable and secure data-driven business practices. Genesis Energy will implement INFA's Cloud Data Governance and Catalog, underpinned by Informatica's AI-powered Intelligent Data Management Cloud&#x2122;.
On September 12, INFA announced that Ricoh Company, Ltd., a leading provider of document management solutions, selected its Intelligent Data Management Cloud&#x2122; (IDMC) to accelerate Ricoh's GLIDER data infrastructure project to support the overall business transformation of Ricoh becoming a digital services company.
For the second quarter that ended on June 30, 2024, INFA's total revenues increased 6.5% year-over-year to $400.62 million. Its non-GAAP income from operations improved 31.2% from the year-ago value to $114.86 million. The company's non-GAAP net income came in at $71.23 million and $0.23 per share, indicating growth of 48% and 35.3% year-over-year, respectively.
Furthermore, the company's adjusted EBITDA increased 29.4% from the prior year's quarter to $118.71 million.
The company provided its financial guidance for the third quarter of 2024. INFA projected its total revenues to range from $412 million to $428 million, representing growth of 2.8% year-over-year. Its non-GAAP operating income is expected to be between $139 million and $151 million, reflecting 13.2% year-over-year growth.
Also, for the full year 2024, INFA's total revenue is set between $1.66 billion and $1.68 billion. It has raised its non-GAAP operating income to a range of $538 million to $558 million, up 18.5% year-over-year.
Street expects INFA's EPS for the third quarter (ended September 2024) to increase 11.8% year-over-year to $0.30. Its revenue for the same quarter is expected to grow 3.2% year-over-year to $421.42 million. Also, the company has topped the consensus EPS estimates in all of the trailing four quarters.
INFA's shares have gained 4.1% over the past month and 26.1% over the past year to close the last trading session at $26.78. Wall Street analysts expect the stock to reach $30.63 in the near term, indicating an <a href="https://www.tipranks.com/stocks/infa/forecast">upside of 14.72%</a>.
INFA's sound fundamentals are reflected in its POWR Ratings. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system.
The stock has a B grade for Quality. Within the A-rated <a href="https://stocknews.com/category/software-saas/">Software - SAAS</a> industry, INFA is ranked #11 out of 18 stocks.
In addition to the POWR Ratings highlighted above, you can check INFA's Growth, Sentiment, Value, Stability, and Momentum ratings <a href="https://stocknews.com/stock/INFA/">here</a>.
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Discover 10 widely held stocks that our proprietary model shows have tremendous downside potential. Please make sure none of these "death trap" stocks are lurking in your portfolio:
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<hr />
WDAY shares were trading at $240.50 per share on Wednesday afternoon, down $4.33 (-1.77%). Year-to-date, WDAY has declined -12.88%, versus a 23.73% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Rjkumari Saxena</h2> <img src='https:/wp-content/uploads/2024/04/Rajkumari-Saxena_Image-1.jpeg' style="float:left; padding:5px;width:125px;">Rajkumari started her career as a writer but gradually shifted her focus to financial journalism, leveraging her educational background in Commerce. Fascinated by the interplay of business and economic shifts in equities, she aspires to evolve as an analyst. With a knack for simplifying complex financial concepts, her mission is to empower investors with insights that lead to profitable decisions.<a href="https://stocknews.com/authors/?author=rajkumari-saxena">More...</a>The post <a href=https://stocknews.com/news/wday-qrvo-infa-3-tech-stocks-analysts-love-for-2024/>3 Tech Stocks Analysts Love for 2024</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 Tech Stocks Analysts Love for 2024

Rapid technological growth, robust demand, and favorable government initiatives drive the semiconductor industry's bright prospects. Thus, top semiconductor stocks, Taiwan Semiconductor Manufacturing (TSM), Qorvo (QRVO), and QUALCOMM (QCOM) could be solid investments for long-term gains. Continue reading... With the rising consumer demand amid growing applications and advancements in technology, innovations in the chips industry is continuously rising. Also, the adoption of AI-driven devices and changing consumer preferences will hike demand in the future, opening more opportunities for the semiconductor market.
Given the industry's promising prospects, investors could consider buying quality semiconductor stocks Taiwan Semiconductor Manufacturing Company Limited (<a href="https://stocknews.com/stock/TSM/">TSM</a>), Qorvo, Inc. (<a href="https://stocknews.com/stock/QRVO/">QRVO</a>), and QUALCOMM Incorporated (<a href="https://stocknews.com/stock/QCOM/">QCOM</a>) for long-term gains.
Despite the lurking semiconductor shortage projections owing to an AI-driven surge in demand for graphics processing units and high demand for AI-enabled devices, coupled with continued geopolitical tensions and other supply risks, the <a href="https://www.bain.com/insights/prepare-for-the-coming-ai-chip-shortage-tech-report-2024/">semiconductor market appears promising</a>.
The <a href="https://www.semiconductors.org/global-semiconductor-sales-increase-20-6-year-to-year-in-august/">Semiconductor Industry Association</a> (SIA) reported global semiconductor sales of $53.10 billion for August 2024, reflecting a 20.6% increase from the same period in 2023 and a 3.5% up from July 2024 total of $51.3 billion. Also, on a regional level, sales marked strong year-to-year growth, with the Americas sales up 43.9%, followed by China at 19.2%, and Asia Pacific/All Other at 17.1%.
Further, <a href="https://www.semiconductors.org/2024-state-of-the-industry-report-underscores-opportunities-and-challenges-for-u-s-chip-industry/">SIA reported industry global sales</a> of $527 billion in 2023, with around 1 trillion semiconductors sold globally. The CHIPS and Science Act has expanded semiconductor fabrication capacity in the US, and the rising demand has prompted new industry investments in order to increase chip production.
The <a href="https://www.fortunebusinessinsights.com/semiconductor-market-102365">global semiconductor market</a> is expected to grow from $681.05 billion in 2024 to $2.06 trillion by 2032, expanding at a notable CAGR of 14.9%. Also, the U.S. semiconductor market is expected to grow exponentially, reaching $258.30 billion in 2032, driven by increasing consumer electronics and Integrated Circuits Integration product usage.
With these favorable trends in mind, let's look at the fundamentals of the three best <a href="https://stocknews.com/category/semiconductor-wireless-chip/">Semiconductor &amp; Wireless Chip</a> stocks, beginning with the third choice.
Stock #3: Taiwan Semiconductor Manufacturing Company Limited (<a href="https://stocknews.com/stock/TSM/">TSM</a>)
Headquartered in Hsinchu City, Taiwan, TSM manufactures, packages, tests, and sells integrated circuits and other semiconductor devices internationally. The company provides wafer fabrication processes, including processes to manufacture complementary metal-oxide-semiconductor (CMOS) logic, mixed-signal, radio frequency, embedded memory, bipolar CMOS mixed-signal, and others.
On October 3, TSM and Amkor Technology, Inc. (<a href="https://stocknews.com/stock/AMKR/">AMKR</a>) signed a memorandum of understanding to collaborate and bring advanced packaging and test capabilities to Arizona to further expand the region's semiconductor ecosystem. Under the agreement, TSMC will leverage Amkor's contract turnkey advanced packaging and test services to support its customers.
The strategic collaboration and proximity of TSMC's front-end fab and Amkor's back-end facility will accelerate overall product cycle times.
During the third quarter that ended September 30, 2024, TSM's <a href="https://www.investopedia.com/terms/n/netsales.asp">net sales</a> increased 38.9% year-over-year to NT$759.69 billion ($23.62 billion). Its gross profit grew 48.1% from the year-ago value to NT$439.34 billion ($13.66 billion). The company's income from operations was NT$360.77 billion ($11.22 billion), up 58.2% year-over-year.
Furthermore, TSM's net income and EPS totaled NT$325.26 billion ($10.11 billion) and NT$12.54, indicating growth of 54.2% from the prior year's quarter, respectively.
Analysts expect TSM's EPS for the fourth quarter (ending December 2024) to increase 50% year-over-year to $2.16. For the same quarter, the company's revenue is expected to grow 30.7% year-over-year to $25.89 billion. Further, the company topped the consensus revenue and EPS estimates in all four trailing quarters, which is impressive.
Shares of TSM have surged 48.1% over the past six months and 126.2% over the past year to close the last trading session at $205.84.
TSM's <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a> reflect its robust outlook. The stock has an overall rating of B, equating to a Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 different factors, each weighted to an optimal degree.
The stock has an A grade for Sentiment and Quality. It is ranked #10 out of 91 stocks in the <a href="https://stocknews.com/category/semiconductor-wireless-chip/">Semiconductor &amp; Wireless Chip</a> industry.
<a href="https://stocknews.com/stock/TSM/">Click here</a> to access additional TSM ratings for Stability, Momentum, Value, and Growth.
Stock #2: Qorvo, Inc. (<a href="https://stocknews.com/stock/QRVO/">QRVO</a>)
QRVO engages in the development and commercialization of technologies and products for wireless, wired, and power markets globally. It operates in three segments: High Performance Analog (HPA); Connectivity and Sensors Group (CSG); and Advanced Cellular Group (ACG).
In terms of forward EV/Sales, QRVO is trading at 2.73x, 8.4% lower than the industry average of 2.98x. Further, the stock's forward Price/Sales multiple of 2.51 is 15.8% lower than the industry average of 2.98. Likewise, its forward Price/Cash Flow of 12.98x is 42.2% lower than the industry average of 22.44x.
For the first quarter that ended June 29, 2024, QRVO's total revenue rose 36.2% year-over-year to $886.67 million, of which its ACG revenue increased 55.8% year-over-year to $642.30 million. Its non-GAAP gross profit grew 29.8% from the prior-year quarter to $362.66 million. Also, its non-GAAP operating income stood at $98.12, up 110% year-over-year.
Also, the company's non-GAAP net income increased 148.7% and 155.9% from the year-ago value to $83.52 million and $0.87 per share, respectively.
Analysts expect QRVO's EPS for the fourth quarter (ending March 2025) to increase 7.3% year-over-year to $1.49, while its revenue for the same period is expected to grow 2.8% year-over-year to $967.41 million. Also, it has topped the consensus revenue and EPS estimates in all trailing four quarters.
Shares of QRVO have gained 3.4% over the past month and 12.4% over the past year to close the last trading session at $104.28.
QRVO's sound fundamentals are reflected in its POWR Ratings. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system.
The stock has a B grade for Value, Quality, and Growth. Within the same industry, QRVO is ranked #4 of 91 stocks.
<a href="https://stocknews.com/stock/QRVO/">Click here</a> to access other ratings of QRVO for Momentum, Sentiment, and Stability.
Stock #1: QUALCOMM Incorporated (<a href="https://stocknews.com/stock/QCOM/">QCOM</a>)
QCOM is engaged in the development and commercialization of foundational technologies for the wireless industry worldwide. The company operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI).
On October 16, QCOM announced a quarterly cash dividend of $0.85 per common share, payable on December 19, 2024, to stockholders of record at the close of business on December 5, 2024.
QCOM pays an annual dividend of $3.40, which translates to a yield of 1.99% at the current share price. Its four-year average dividend yield is 2.09%. Moreover, the company's dividend payouts have increased at a CAGR of 7.1% over the past three years. QCOM has raised its dividends for 20 consecutive years.
On September 25. QCOM's subsidiary, Aramco, and Saudi Arabia's Research, Development, and Innovation Authority (RDIA) announced their plans to launch Design in Saudi Arabia (DISA), an incubator program for Saudi Arabia that aims to support startups adopting AI, Internet of Things (IoT), and wireless technologies for industrial use cases.
QCOM's revenues increased 11.2% year-over-year to $9.39 billion for the third quarter ended June 23, 2024. The company's non-GAAP operating income of $3.02 billion reflects a 19.7% growth year-over-year. Its non-GAAP net income and EPS came in at $2.65 billion and $2.33, up 25.8% and 24.6% year-over-year, respectively.
Street expects QCOM's revenue and EPS for the fourth quarter (ended September 2024) to increase 14.6% and 27% year-over-year to $9.93 billion and $2.57, respectively. Moreover, the company has surpassed the consensus EPS and revenue estimates in each of the trailing four quarters.
QCOM's stock surged 4.1% over the past six months and 52.5% over the past year to close the last trading session at $171.10.
QCOM's POWR Ratings reflect its bright prospects. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system.
QCOM has an A grade for Quality. The stock is ranked #2 list of 91 stocks in the Semiconductor &amp; Wireless Chip industry.
To see additional POWR Ratings of QCOM for Growth, Sentiment, Value, Stability, and Momentum, <a href="https://stocknews.com/stock/QCOM/">click here</a>.
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<hr />
TSM shares fell $0.36 (-0.18%) in after-hours trading Friday. Year-to-date, TSM has gained 94.72%, versus a 24.15% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Rjkumari Saxena</h2> <img src='https:/wp-content/uploads/2024/04/Rajkumari-Saxena_Image-1.jpeg' style="float:left; padding:5px;width:125px;">Rajkumari started her career as a writer but gradually shifted her focus to financial journalism, leveraging her educational background in Commerce. Fascinated by the interplay of business and economic shifts in equities, she aspires to evolve as an analyst. With a knack for simplifying complex financial concepts, her mission is to empower investors with insights that lead to profitable decisions.<a href="https://stocknews.com/authors/?author=rajkumari-saxena">More...</a>The post <a href=https://stocknews.com/news/tsm-qcom-qrvo-amkr-3-semiconductor-stocks-to-buy-for-long-term-gains/>3 Semiconductor Stocks to Buy for Long-Term Gains</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 Semiconductor Stocks to Buy for Long-Term Gains

The semiconductor industry is experiencing significant growth, driven by the rising demand for gadgets fueled by innovative and cutting-edge technology advancements. This creates an opportunity for investors to focus on semiconductor stocks Taiwan Semiconductor (TSM), Photronics (PLAB), and Qorvo (QRVO) to leverage the sector's growth potential. Read on… The semiconductor industry is thriving, driven by technological advancements and the rising demand for gadgets that rely on chips. With AI-driven features and innovative enhancements integrated into smartphones, computers, and appliances, semiconductors have become a crucial part of daily life, accelerating their demand across industries.
Amid this surge, investors could consider keeping an eye on fundamentally sound semiconductor stocks such as Taiwan Semiconductor Manufacturing Company Limited (<a href="https://stocknews.com/stock/TSM/">TSM</a>), Photronics, Inc. (<a href="https://stocknews.com/stock/PLAB/">PLAB</a>), and Qorvo, Inc. (<a href="https://stocknews.com/stock/QRVO/">QRVO</a>). These companies are poised to benefit from the rapid growth in semiconductor demand.
Key innovations in AI, machine learning, 5G networks, big data, and electric vehicles have boosted the demand for semiconductor chips. With frequent groundbreaking innovations in gadgets that utilize these chips, both the average consumer and tech enthusiasts are increasingly drawn to these products, driving further demand.
According to a study by Counterpoint, global smartphone shipments are expected to <a href="https://www.counterpointresearch.com/insights/global-smartphone-forecast-2024/">grow by 5%</a> year-over-year in 2024, reaching 1.23 billion units—the highest in the past five years. The inclusion of generative AI features in smartphones is a key factor driving this increased demand.
Similarly, the PC market is seeing rising demand for chips, especially in graphical processing units (GPUs) used for gaming, crypto-mining, and video editing. This ongoing need for more advanced GPUs continues to fuel growth in the PC segment.
Gartner, Inc. (<a href="https://stocknews.com/stock/IT/">IT</a>) reports that worldwide PC shipments <a href="https://www.gartner.com/en/newsroom/press-releases/2024-07-10-gartner-says-worldwide-pc-shipments-increased-1-point-9-percent-in-second-quarter-of-2024">reached 60.6 million units</a> in the second quarter of 2024, marking a 1.9% increase from the same period in 2023. This highlights the growing importance of semiconductors in supporting various computing functions.
The semiconductor industry's performance reflects these trends. The Semiconductor Industry Association (SIA) reported that global semiconductor sales <a href="https://www.semiconductors.org/global-semiconductor-sales-increase-18-3-in-q2-2024-compared-to-q2-2023-quarter-to-quarter-sales-up-6-5/">reached $149.9 billion</a> in the second quarter of 2024, an 18.3% increase compared to the second quarter of 2023.
Looking ahead, the World Semiconductor Trade Statistics (WSTS) forecasts <a href="https://www.wsts.org/esraCMS/extension/media/f/WST/6558/WSTS_FC-Release-2024_05.pdf">a 12.5% growth</a> in the global semiconductor market, with the market expected to reach $687 billion in 2024 alone. This growth outlook underscores the immense potential for continued success in the semiconductor sector.
So, considering these trends, let's analyze the fundamentals of three <a href="https://stocknews.com/category/semiconductor-wireless-chip/">Semiconductor &amp; Wireless Chip</a> stocks, beginning with #3.
Stock #3: Taiwan Semiconductor Manufacturing Company Limited (<a href="https://stocknews.com/stock/TSM/">TSM</a>)
Headquartered in Hsinchu City, Taiwan, TSM manufactures, packages, tests, and sells integrated circuits and other semiconductor devices. The company provides a range of wafer fabrication processes and also offers customer and engineering support services.
On October 3, TSM announced the <a href="https://pr.tsmc.com/english/news/3174">signing of a memorandum of understanding</a> with Amkor Technology, Inc. (<a href="https://stocknews.com/stock/AMKR/">AMKR</a>) to collaborate and bring advanced packaging and test capabilities to Arizona to further expand the region's semiconductor ecosystem.
Through this agreement, TSM would utilize AMKR's contract turnkey advanced packaging and test services. The collaboration allows TSM to better serve its customers by streamlining processes. By capitalizing on AMKR's expertise, TSM can enhance the efficiency of its operations and meet customer demands with improved speed and quality.
On August 20, ESMC, a joint venture between TSM, Robert Bosch GmbH, Infineon Technologies AG (<a href="https://stocknews.com/stock/IFNNY/">IFNNY</a>), and NXP Semiconductors N.V. (<a href="https://stocknews.com/stock/NXPI/">NXPI</a>), <a href="https://pr.tsmc.com/english/news/3169">announced a ceremony</a> to mark the initial phase of land preparation for the joint venture's first semiconductor lab in Dresden, Germany.
The facility is expected to bring TSM's advanced manufacturing capabilities closer to European customers, fostering stronger partnerships and expanding its influence in the European market.
TSM's trailing-12-month levered FCF margin of 22.86% is 117.20% higher than the 10.53% industry average. Its trailing-12-month EBIT margin of 43.62% is 780.3% higher than the 4.96% industry average. Likewise, the stock's trailing-12-month gross profit margin of 54.45% is 8.4% higher than the industry average of 50.26%.
During the fiscal third quarter that ended September 30, 2024, TSM's net revenue increased 39% year-over-year to $23.50 billion. Its <a href="https://www.investopedia.com/terms/g/grossprofit.asp">gross profit</a> grew 48.1% from the year-ago value to $13.59 billion. Moreover, the company's income from operations was $11.16 billion, up 58.2% year-over-year.
In addition, TSM's net income and EPS totaled $10.06 billion and $0.39, indicating a growth of 54.2% for both from the prior year's quarter, respectively.
Analysts expect the company's revenue for the fiscal fourth quarter (ending December 2024) to increase 32.4% year-over-year to $26.24 billion. For the same quarter, the company's EPS is expected to grow 51% from the prior year's period to $2.17. Moreover, the company topped the consensus revenue and EPS estimates in all four trailing quarters, which is impressive.
Shares of TSM have surged 51.8% over the past six months and 124.1% over the past year to close the last trading session at $200.78.
TSM's <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a> reflect its robust outlook. The stock has an overall rating of B, equating to a Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 different factors, each weighted to an optimal degree.
TSM has an A grade for Sentiment and Quality. It is ranked #8 out of 91 stocks in the <a href="https://stocknews.com/category/semiconductor-wireless-chip/">Semiconductor &amp; Wireless Chip</a> industry.
<a href="https://stocknews.com/stock/TSM/">Click here</a> to access additional TSM ratings for Stability, Momentum, Value, and Growth.
Stock #2: Photronics, Inc. (<a href="https://stocknews.com/stock/PLAB/">PLAB</a>)
PLAB is a global manufacturer and seller of photomask products for integrated circuits, flat panel displays (FPD), and circuit pattern transfer onto semiconductor wafers and substrates. The company sells its products to semiconductor and FPD manufacturers, designers, foundries, and high-performance electronics manufacturers.
When talking about PLAB's trailing 12-month EBITDA margin of 35.95%, it is 266.6% higher than the industry average of 9.81%. The stock's trailing-12-month levered FCF margin of 10.95% is 4.1% more than the sector average of 10.53%. Plus, its trailing-12-month net income margin of 16.22% is 329.8% higher than the 3.77% industry average.
For the fiscal third quarter that ended on July 28, 2024, PLAB's revenue came in at $210.98 million. Its gross profit registered at $75.14 million. Moreover, the company's non-GAAP net income attributable to PLAB increased marginally year-over-year to $31.92 million. Meanwhile, its EPS stood at $0.51.
As of July 28, 2024, PLAB's cash and cash equivalents amounted to $537.33 million, compared to $499.29 million on October 31, 2023. Its total current assets came in at $892.64 million, up from $785.45 million on October 31, 2023.
The consensus revenue estimate of $940 million for the fiscal year ending October 2025 reflects a year-over-year rise of 9%. Its EPS for the same period is expected to grow 5.8% from the prior year to $2.20.
Shares of PLAB have surged 2.7% over the past month and 17.2% over the past year to close the last trading session at $23.74.
PLAB's solid fundamentals are reflected in its POWR Ratings. It has an overall rating of B, equating to a Buy in our proprietary rating system.
PLAB has a B grade for Value and Quality. In the same industry, it is ranked #7 out of 91 stocks.
To access PLAB's additional grades for Growth, Stability, Momentum, and Sentiment ratings, <a href="https://stocknews.com/stock/PLAB/">click here</a>.
Stock #1: Qorvo, Inc. (<a href="https://stocknews.com/stock/QRVO/">QRVO</a>)
QRVO develops and commercializes technologies for wireless, wired, and power markets. The company's operations span three segments: High Performance Analog (HPA); Connectivity and Sensors Group (CSG); and Advanced Cellular Group (ACG). It also offers foundry services for defense and aerospace clients.
On January 31, QRVO <a href="https://ir.qorvo.com/news-releases/news-release-details/qorvor-acquire-anokiwave">announced a definitive agreement</a> to acquire Anokiwave, a supplier of high-performance silicon integrated circuits for intelligent active array antennas used in defense, SATCOM, and 5G applications. Anokiwave's high-frequency beamforming and IF-to-RF conversion ICs would complement QRVO's existing RF front-end portfolio.
The combination of QRVO's capabilities with Anokiwave's technology would enable QRVO to deliver highly integrated solutions and SiPs for defense, aerospace, and network infrastructure.
QRVO's trailing-12-month EBIT margin of 11.12% is 124.3% higher than the 4.96% industry average. The stock's trailing-12-month levered FCF margin of 19.06% is 81% more than the 10.53% industry average. Additionally, its ROTC of 4.92% is 76.6% higher than the industry average of 2.79%.
QRVO's revenue for the fiscal 2025 first quarter, which ended on June 29, 2024, increased 36.2% year-over-year to $886.67 million. Its non-GAAP operating income rose 110.1% from the year-ago value to $98.13 million.
Additionally, the company's non-GAAP net income amounted to $83.52 million, or $0.87 per share, up 148.7% and 155.9% from the previous year's quarter, respectively.
For the September 2024 quarter, QRVO expects <a href="https://ir.qorvo.com/news-releases/news-release-details/qorvor-announces-fiscal-2025-first-quarter-financial-results">a sequential increase</a> in revenue, gross margin, and EPS. It projects revenue of approximately $1.025 billion, with a potential leeway of $25 million. Non-GAAP gross margin is expected to be between 46% and 47%. Meanwhile, non-GAAP earnings per share is forecasted to be between $1.75 and $1.95.
Street expects QRVO's revenue and EPS for the next fiscal year (ending March 2026) to increase 7.8% and 27.9% year-over-year to $4.26 billion and $7.94, respectively. Furthermore, the company has surpassed the consensus revenue and EPS estimates in each of the trailing four quarters.
Shares of QRVO have gained 4.7% over the past month and 14% over the past year to close the last trading session at $104.50.
QRVO's promising outlook is reflected in its POWR Ratings. It has an overall rating of B, equating to a Buy in our proprietary rating system.
QRVO has a B grade for Growth, Value, and Quality. It is ranked #4 out of 91 stocks within the Semiconductor &amp; Wireless Chip industry.
Beyond what we stated above, we have also given QRVO grades for Momentum, Sentiment, and Stability. Get all the QRVO's ratings <a href="https://stocknews.com/stock/QRVO/">here</a>.
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<hr />
TSM shares fell $1.08 (-0.54%) in premarket trading Monday. Year-to-date, TSM has gained 94.72%, versus a 24.15% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Aanchal Sugandh</h2> <img src='https:/wp-content/uploads/2022/12/Aanchal-Sugandh_Headshot.jpg' style="float:left; padding:5px;width:125px;">Aanchal's passion for financial markets drives her work as an investment analyst and journalist. She earned her bachelor's degree in finance and is pursuing the CFA program.

She is proficient at assessing the long-term prospects of stocks with her fundamental analysis skills. Her goal is to help investors build portfolios with sustainable returns.<a href="https://stocknews.com/authors/?author=aanchal-sugandh">More...</a>The post <a href=https://stocknews.com/news/tsm-qrvo-plab-nxpi-ifnnyamkr-3-semiconductor-stocks-to-watch-as-gadget-demand-explodes/>3 Semiconductor Stocks to Watch as Gadget Demand Explodes</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 Semiconductor Stocks to Watch as Gadget Demand Explodes

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Press Releases

Qorvo® to Webcast Quarterly Earnings Conference Call on May 1, 2024

Qorvo® Announces Date of 2024 Investor Day

Qorvo® Announces Fiscal 2024 Fourth Quarter Financial Results

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Qorvo Announces Verdict and Damage Award in Litigation Versus Akoustis

Qorvo® To Webcast Investor Day Presentation on Tuesday, June 11, 2024

Cambridge GaN Devices to Bring GaN Benefits to Motor Control

Qorvo® to Webcast Quarterly Earnings Conference Call  on July 30, 2024

Qorvo® Announces Fiscal 2025 First Quarter Financial Results

Qorvo® to Present at the Goldman Sachs Communacopia + Technology Conference

Qorvo® to Webcast Quarterly Earnings Conference Call on October 29, 2024

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