Recent Summer earnings results of the Top 5 Publicly Traded Analog Semiconductor companies by Q/Q Revenues were mixed across the board, however, we saw increasing revenues on average 2.2% YOY in the June-August quarter, according to their latest earnings releases.
Of the publicly traded Analog Semiconductor companies who released Summer 2023 earnings results, two companies among the rest in the list increased their YOY revenues by 10%+, which is Infineon Technologies and ST Microelectronics.
Texas Instruments had the most contraction in YOY revenues at -13% followed by Analog devices trailing behind at -1.1%.
The following sections are covered in this report [Click to Skip Ahead]:
- Biggest Publicly Traded Analog Semiconductor companies by Market Share
- Top Analog Semiconductor companies by Revenue Growth
- Top Analog Semiconductor companies by Earnings (EPS) Growth
Company revenues, earnings, and stock forecasts covered:
- Texas Instruments (TXN) Stock Forecast
- Analog Devices (ADI) Stock Forecast
- NXP Semiconductors (NXPI) Stock Forecast
- Infineon Technologies AG (IFX) Stock Forecast
- Microchip Technology (MCHP) Stock Forecast
The list below only includes the top five Analog Semiconductor companies by revenues. In the next section, all relevant >$15B market cap publicly traded analog semiconductor companies will be included.
| Company | June 2022 | June 2023 | YOY |
| Texas Instruments | $5,212 | $4,531 | -13% |
| Infineon Technologies AG | $3,790 | $4,462 | 13% |
| ST Microelectronics | $3,837 | $4,326 | 12.7% |
| NXP Semiconductors | $3,312 | $3,299 | -0.4% |
| Analog Devices | $3,109 | $3,076 | -1.1% |
Texas Instruments reported a -13% decrease YOY revenues in their latest Q2, 2023 and pointed out that weakness across their end markets was the culprit with the exception of automotive. However, their revenue increased sequentially by 3%.
Infineon Technologies AG saw revenues increase by 13% YOY, citing the semiconductor market trends continue to show a mixed picture with high demand on their electromobility, renewable energy and related application areas staying high.
ST Microelectronics recorded a 12.7% YOY increase in revenues with the outperformance continuing to be driven by growth in Automotive and Industrial segments, partially offset by lower revenues in Personal Electronics.
NXP Semiconductors reported a -0.4% YOY decrease in revenues with resilience and continued strength in their automotive, core-industrial and communications infrastructure businesses partially offsetting the cyclical downturn in their consumer exposed segments.
Analog Devices saw YOY revenues decline by -1.1% citing customer inventory adjustments or destocking continuing to accelerate as current cyclical downturn further deepens. Their Industrial & Automotive segment continues to show growing year-over-year growth.
Key Takeaway
The reported revenue among the companies mentioned is mixed across the board which is interesting to see in the current industry downturn. However, the common theme among all is the continued demand growth and robustness of the Industrial and Automotive industry.
Biggest Publicly Traded Analog Semiconductor companies by Market Share
The pie graph shown below is composed of >$15B market cap publicly traded analog semiconductor companies as of August 2023.
Ahead of the group is Texas Instruments with roughly 20.2% market share, followed shortly by Infineon Technologies AG with 18.7%, and trailing just behind is ST Microelectronics with 18.5% of Trailing Twelve Months (TTM) revenue share of all publicly traded analog semiconductor companies.
| Company | Revenues (TTM in Thousands) | Mkt Share |
| Texas Instruments | $18,821,000 | 20.2% |
| Infineon Technologies AG | $17,469,995 | 18.7% |
| ST Microelectronics | $17,274,000 | 18.5% |
| NXP Semiconductors | $13,177,000 | 14.1% |
| Analog Devices | $12,836,771 | 13.8% |
| Microchip Technology | $8,763,700 | 9.4% |
| Skyworks Solutions | $4,960,500 | 5.3% |
Top Analog Semiconductor companies by Revenue Growth
In the last three fiscal years, Analog Devices lead ahead among its peers in the analog semiconductor industry with 32.49% CAGR.
Infineon Technologies AG, on the other hand, is leading in boosting its year-over-year annual revenue growth of 24.62% from 2021-2022.
Infineon Technologies AG takes the number two spot in 3yr CAGR with 26.06%, while trailing behind is ST Microelectronics and Microchip Technology with 21.63% and 18.54% 3yr CAGR, respectively.
| Company | 3yr CAGR | 1yr Growth YOY |
| Analog Devices | 32.49% | 15.59% |
| Infineon Technologies AG | 26.06% | 24.62% |
| ST Microelectronics | 21.63% | 22.51% |
| Microchip Technology | 18.54% | 21.46% |
| NXP Semiconductors | 16.17% | 6.71% |
| Skyworks Solutions | 15.42% | -7.96% |
| Texas Instruments | 11.2% | -3.94% |
Key Takeaway
Data shows that the past three fiscal years has been a boom for analog semiconductor companies with the pandemic supply chain issue exacerbating further the outsized demand. However, YOY revenue seems to decelerate already — not noticeably at first glance but only on some companies, particularly Skyworks Solutions and Texas Instruments.
Top Analog Semiconductor companies by Earnings (EPS) Growth
In the last three fiscal years, NXP Semiconductors saw the highest 3 year annual compounded growth rate of a whopping 526% in earnings per share. Context behind it is provided in caption of the graph below.
All publicly traded analog semiconductor companies in the list recorded high double digit EPS growth with an average of 45%+ excluding NXP Semiconductors.
Among the companies in the above graph, Analog Devices had the highest 1-year EPS YOY growth rate of 101.28%.
The highest 3-year EPS CAGR companies in the list excluding NXP Semiconductors are Infineon Technologies AG at 95.51%, ST Microelectronics at 69.21%, and Microchip Technology at 51.20%.
| Company | 3yr EPS CAGR | 1yr EPS YOY |
| NXP Semiconductors | 526% | 15.55% |
| Infineon Technologies AG | 95.51% | 62.85% |
| ST Microelectronics | 69.21% | 91.74% |
| Microchip Technology | 51.20% | 59.31% |
| Analog Devices | 35.02% | 101.28% |
| Texas Instruments | 16.04% | -8.89% |
| Skyworks Solutions | 12.56% | -17.64% |
Key Takeaway
As the data shows, the past three fiscal years has been a boom for the analog semiconductors industry because of the recent supply chain issue worsening the pulled forward demand of the pandemic.
However, looking at the YOY EPS growth, results are mixed with other companies showing sharp deceleration in EPS while others are still on the rise. This shows how the blend of each company’s analog semiconductor portfolio in different industries greatly affects revenues with Industrials and Automotive continuing its upward trend.
Analog Semiconductor Companies Revenue, Earnings and Stock Forecast (Quarter ending June 2023)
| Company | YOY EPS Forecast |
| Texas Instruments | -27.71% |
| Analog Devices | -26.05% |
| NXP Semiconductors | -5.58% |
| Infineon Technologies AG | -7.93% |
| Microchip Technology | 11.04% |
Texas Instruments (TXN) Revenue, Earnings, and Stock Forecast
Texas Instruments’ revenue over the latest Trailing Twelve Month period was $18.8 billion. Texas Instruments’ earnings (Net Income) over the latest Trailing Twelve Month period was $7.7 billion.
The Wall Street consensus for Texas Instruments’ EPS (earnings per share) projection for the next quarter is $1.85. The company’s TTM (trailing twelve months) Earnings Per Share was $8.4 as of the quarter ending June 30, 2023.
Texas Instruments is expected to see a contraction in earnings per share of -27.71% YOY in the next quarter based on the consensus of stock market analyst forecasts.
Analog Devices (ADI) Revenue, Earnings, and Stock Forecast
Analog Devices’ revenue over the latest Trailing Twelve Month period was $12.8 billion. Analog Devices’ earnings (Net Income) over the latest Trailing Twelve Month period was $3.8 billion.
The Wall Street consensus for Analog Devices’ EPS (earnings per share) projection for the next quarter is $2.02. The company’s TTM (trailing twelve months) Earnings Per Share was $7.4 as of the quarter ending June 30, 2023.
Analog Devices is expected to see a contraction in earnings per share of -26.05% YOY in the next quarter based on the consensus of stock market analyst forecasts.
NXP Semiconductors (NXPI) Revenue, Earnings, and Stock Forecast
NXP Semiconductors’ revenue over the latest Trailing Twelve Month period was $13.2 billion. NXP Semiconductors’ earnings (Net Income) over the latest Trailing Twelve Month period was $2.8 billion.
The Wall Street consensus for Analog Devices’ EPS (earnings per share) projection for the next quarter is $3.60. The company’s TTM (trailing twelve months) Earnings Per Share was $10.7 as of the quarter ending June 30, 2023.
NXP Semiconductors is expected to see a contraction in earnings per share of -5.58% YOY in the next quarter based on the consensus of stock market analyst forecasts.
Infineon Technologies AG (IFX) Revenue, Earnings, and Stock Forecast
Infineon Technologies AG’s revenue over the latest Trailing Twelve Month period was $17.8 billion. Infineon Technologies AG’s earnings (Net Income) over the latest Trailing Twelve Month period was $3.4 billion.
The Wall Street consensus for Infineon Technologies AG’s EPS (earnings per share) projection for the next quarter is $0.58. The company’s TTM (trailing twelve months) Earnings Per Share was $2.6 as of the quarter ending June 30, 2023.
Infineon Technologies AG is expected to see a contraction in earnings per share of -7.93% YOY in the next quarter based on the consensus of stock market analyst forecasts.
Microchip Technology (MCHP) Revenue, Earnings, and Stock Forecast
Microchip Technology’s revenue over the latest Trailing Twelve Month period was $8.8 billion. Microchip Technology’s earnings (Net Income) over the latest Trailing Twelve Month period was $2.4 billion.
The Wall Street consensus for Microchip Technology’s EPS (earnings per share) projection for the next quarter is $1.62. The company’s TTM (trailing twelve months) Earnings Per Share was $4.4 as of the quarter ending June 30, 2023.
Microchip Technology is expected to see an expansion in earnings per share of 11.04% YOY in the next quarter based on the consensus of stock market analyst forecasts.
Methodology
All data mentioned here in this article was sourced from publicly available filings and releases, and processed by investment newsletter provider, Sather Research, LLC.
Stock forecasts and analyst consensus EPS growth estimates were sourced from data provided by Seeking Alpha.
Contact Seoshin Chil at [email protected] for any further commentary, concerns, questions, or feedback. Alternatively, you can get in touch with the company during business hours through our contact page, or call 888-978-1348 from Monday – Friday; 9AM EST – 5:00 PM EST.
Seoshin Chil
Seoshin is an active sailor in offshore windfarm vessels but has a passion for studying great businesses and investing in them. Being always at sea does not stop him from doing so!
