The end of the earnings season is always a good time to take a step back and see who shined (and who not so much). Let’s take a look at how the semiconductor manufacturing stocks have fared in Q2, starting with Amtech (NASDAQ:ASYS).

The semiconductor industry is driven by demand for advanced electronic products like smartphones, PCs, servers, and data storage. The growth of data and technologies like artificial intelligence, 5G networks, and smart cars are also creating the next wave of growth for the industry. Keeping up with this dynamism requires new tools that can design, fabricate, and test at ever smaller sizes and more complex architectures, creating a dire need for semiconductor capital manufacturing equipment.

The 14 semiconductor manufacturing stocks we track reported a slower Q2; on average, revenues were in line with analyst consensus estimates while next quarter's revenue guidance was 1.39% below consensus. Higher interest rates have hurt growth companies as investors search for near-term cash flows, and semiconductor manufacturing stocks have not been spared, with share prices down 10.5% on average, since the previous earnings results.

Amtech (NASDAQ:ASYS)

Focusing on the silicon carbide and power semiconductor sectors, Amtech Systems (NASDAQ:ASYS) produces the machinery and related chemicals needed for manufacturing semiconductors.

Amtech reported revenues of $30.7 million, up 54% year on year, falling short of analyst expectations by 6.42%. It was a weak quarter for the company, with a miss of analysts' revenue estimates and a decline in its operating margin.

“I am excited to take on the role of CEO and am looking forward to leading Amtech and driving efforts to fully capitalize on the exciting growth opportunities before us. In the coming quarters, we will focus our efforts on operational and supply chain improvements to ensure that we create meaningful value from the secular drivers influencing our business. We will be outlining our targets and plans in more detail on our next earnings call,” commented Mr. Bob Daigle, Chief Executive Officer of Amtech.

Amtech scored the fastest revenue growth but had the weakest performance against analyst estimates of the whole group. The stock is down 27.9% since the results and currently trades at $7.71.

Read our full report on Amtech here, it's free.

Best Q2: Applied Materials (NASDAQ:AMAT)

Founded in 1967 as the first business that built tools for other companies to use to make semiconductors, Applied Materials (NASDAQ:AMAT) is the largest provider of semiconductor wafer fabrication equipment.

Applied Materials reported revenues of $6.43 billion, down 1.46% year on year, outperforming analyst expectations by 4.29%. It was a very strong quarter for the company, with an impressive beat of analysts' EPS estimates and optimistic revenue guidance for the next quarter.

Applied Materials scored the biggest analyst estimates beat among its peers. The stock is up 2.71% since the results and currently trades at $141.12.

Is now the time to buy Applied Materials? Access our full analysis of the earnings results here, it's free.

Weakest Q2: IPG Photonics (NASDAQ:IPGP)

Both the designer and manufacturer of most of its products, IPG Photonics (NASDAQ:IPGP) is a provider of high-performance fiber lasers used for cutting, welding, and processing raw materials.

IPG Photonics reported revenues of $340 million, down 9.83% year on year, falling short of analyst expectations by 1.79%. It was a weak quarter for the company, with underwhelming revenue guidance for the next quarter and a miss of analysts' revenue estimates.

The stock is down 27.8% since the results and currently trades at $94.89.

Read our full analysis of IPG Photonics's results here.

Lam Research (NASDAQ:LRCX)

Founded in 1980 by David Lam, who pioneered semiconductor etching technology, Lam Research (NASDAQ:LCRX) is one of the leading providers of the wafer fabrication equipment used to make semiconductors.

Lam Research reported revenues of $3.21 billion, down 30.8% year on year, surpassing analyst expectations by 1.83%. It was a mixed quarter for the company, with an impressive beat of analysts' EPS estimates but an increase in its inventory levels.

The stock is up 1.4% since the results and currently trades at $652.05.

Read our full, actionable report on Lam Research here, it's free.

Amkor (NASDAQ:AMKR)

Operating through a largely Asian facility footprint, Amkor Technologies (NASDAQ:AMKR) provides outsourced packaging and testing for semiconductors.

Amkor reported revenues of $1.46 billion, down 3.12% year on year, falling short of analyst expectations by 1.32%. It was a weaker quarter for the company, with a miss of analysts' revenue estimates and a decline in its gross margin.

The stock is down 20% since the results and currently trades at $23.28.

Read our full, actionable report on Amkor here, it's free.

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The author has no position in any of the stocks mentioned