Semiconductor ETFs Riding High On Solid Earnings
Zacks Investment Research | Nov 08, 2019 12:00AM ET
Semiconductors have been shining and are leading the broader technology sector lately, thanks to renewed trade optimism and solid earnings. In particular, a spate of better-than-expected reports from well-known players like Texas Instruments (NASDAQ:TXN) , Lam Research Corporation (NASDAQ:LRCX) , Intel (NASDAQ:INTC) and Qualcomm (NASDAQ:QCOM) instilled confidence in the sector.
Let’s take a look into the individual performances:
Semiconductor Earnings in Focus
Texas Instruments reported mixed Q3 results, topping the Zacks Consensus Estimate by eight cents while missing revenue estimate by $39 million. For the ongoing fourth quarter, the company expects revenues in the range of $3.07–$3.33 billion and earnings per share of 91 cents–$1.09. The Zacks Consensus Estimate of $3.59 billion for revenues and $1.28 for earnings at the time of earnings release is lower than the midpoint of the respective guidance range.
Lam Research also topped earnings estimates in first-quarter fiscal 2020 while revenues came in line. Earnings per share of $3.18 surpassed the Zacks Consensus Estimate by 18 cents. Revenues totaled $2.17 billion. For second-quarter fiscal 2020, the company expects revenues in the range of $2.5 billion (+/- $150 million) and earnings per share of $3.80 (+/- 20 cents). The Zacks Consensus Estimate at the time of earnings release was pegged at $2.19 billion for revenues and $3.16 for earnings (read: Zacks Investment Research
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