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Will These 4 Semiconductor Stocks Beat Forecasts This Earnings?

After enduring a downturn in 2023, the semiconductor industry has been steadily making a rebound. A period of sluggishness due to various economic challenges and supply-chain disruptions appears to be receding, paving the way for a rebound.

This is evident from the monthly data on global semiconductor sales from the Semiconductor Industry Association (“SIA”). On Apr 3, SIA reported that global semiconductor sales increased 16.3% year over year in February 2024 to $46.2 billion. This year-over-year growth trend has persisted for four consecutive months, signifying a decent recovery.

The semiconductor market faced hurdles due to pandemic-induced supply-chain disruptions and the Federal Reserve's stringent monetary policy, dampening demand and triggering a decline in sales. However, with inflation subsiding and demand steadily recovering, the industry has witnessed an upward trajectory since the second quarter of 2023.

Amid the current scenario, investors interested in the semiconductor industry are eagerly awaiting the earnings releases of players like Lam Research Corporation LRCX, Silicon Laboratories SLAB, MaxLinear MXL and Impinj PI, scheduled to be released during this week.

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Our quantitative model predicts an earnings beat for a company if it has a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). This combination increases the chances of an earnings beat. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Let’s delve deeper.

Lam Research is scheduled to report third-quarter fiscal 2024 results on Apr 24. Our proven model does not conclusively predict an earnings beat for LRCX this earnings season as it has an Earnings ESP of -1.06% and a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for Lam Research’s revenues is pegged at $3.70 billion, which indicates a 4.3% decrease from the year-ago quarter. The consensus estimate for the bottom line is pegged at $7.24, which implies a year-over-year increase of 3.6%.

Lam Research Corporation Price and EPS Surprise

Lam Research Corporation Price and EPS Surprise
Lam Research Corporation Price and EPS Surprise

Lam Research Corporation price-eps-surprise | Lam Research Corporation Quote

Silicon Laboratories is scheduled to report first-quarter 2024 results on Apr 24. Our proven model does not conclusively predict an earnings beat for SLAB this earnings season as it has an Earnings ESP of 0.00% and a Zacks Rank #3 at present.

The Zacks Consensus Estimate for Silicon Laboratories’ revenues is pegged at $104.5 million, which indicates a 57.7% decrease from the year-ago quarter. The consensus estimate for the bottom line is pegged at a loss of 98 cents per share. In the year-ago quarter, the company had reported earnings of $1.12 per share.

Silicon Laboratories, Inc. Price and EPS Surprise

Silicon Laboratories, Inc. Price and EPS Surprise
Silicon Laboratories, Inc. Price and EPS Surprise

Silicon Laboratories, Inc. price-eps-surprise | Silicon Laboratories, Inc. Quote

MaxLinear is scheduled to report first-quarter 2024 results on Apr 24. Our proven model does not conclusively predict an earnings beat for MXL this earnings season as it has an Earnings ESP of 0.00% and a Zacks Rank #3 at present.

The Zacks Consensus Estimate for MaxLinear’s revenues is pegged at $95 million, which indicates a 61.8% decrease from the year-ago quarter. The consensus estimate for the bottom line is pegged at a loss of 20 cents per share. In the year-ago quarter, the company had reported earnings of 74 cents per share.

MaxLinear, Inc Price and EPS Surprise

MaxLinear, Inc Price and EPS Surprise
MaxLinear, Inc Price and EPS Surprise

MaxLinear, Inc price-eps-surprise | MaxLinear, Inc Quote

Impinj is slated to report first-quarter 2024 results on Apr 24. Our proven model does not conclusively predict an earnings beat for PI this earnings season as it has an Earnings ESP of 0.00% and a Zacks Rank #3 at present.

The Zacks Consensus Estimate for Impinj’s revenues is pegged at $73.6 million, which calls for a 14.4% decrease from the year-ago quarter. The consensus estimate for the bottom line is pegged at 10 cents per share, which indicates a decline of 66.7% from the year-ago quarter earnings of 30 cents.

Impinj, Inc. Price and EPS Surprise

Impinj, Inc. Price and EPS Surprise
Impinj, Inc. Price and EPS Surprise

Impinj, Inc. price-eps-surprise | Impinj, Inc. Quote

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

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Lam Research Corporation (LRCX) : Free Stock Analysis Report

Silicon Laboratories, Inc. (SLAB) : Free Stock Analysis Report

MaxLinear, Inc (MXL) : Free Stock Analysis Report

Impinj, Inc. (PI) : Free Stock Analysis Report

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