Earnings results often indicate what direction a company will take in the months ahead. With Q4 now behind us, let’s have a look at Nova (NASDAQ:NVMI) and its peers.

The semiconductor industry is driven by demand for advanced electronic products like smartphones, PCs, servers, and data storage. The need for technologies like artificial intelligence, 5G networks, and smart cars is also creating the next wave of growth for the industry. Keeping up with this dynamism requires new tools that can design, fabricate, and test chips 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 mixed Q4; on average, revenues beat analyst consensus estimates by 2.4%. while next quarter's revenue guidance was 5.6% below consensus. Valuation multiples for many growth stocks have not yet reverted to their early 2021 highs, though the market was optimistic at the end of 2023 due to cooling inflation. The start of 2024 has been a different story as mixed signals have led to market volatility, but semiconductor manufacturing stocks have shown resilience, with share prices up 5.5% on average since the previous earnings results.

Best Q4: Nova (NASDAQ:NVMI)

Headquartered in Israel, Nova (NASDAQ: NVMI) is a provider of quality control systems used in semiconductor manufacturing.

Nova reported revenues of $134.2 million, down 11.3% year on year, topping analyst expectations by 4.8%. It was a very strong quarter for the company, with an impressive beat of analysts' EPS estimates and a significant improvement in its inventory levels.

"Nova delivered a robust quarter, exceeding the top end of our guidance for revenue and profit, concluding the fiscal year on a stronger note than initially anticipated," said Gaby Waisman, President and CEO.

The stock is up 11.1% since the results and currently trades at $174.99.

We think Nova is a good business, but is it a buy today? Read our full report here, it's free.

IPG Photonics (NASDAQ:IPGP)

Both a designer and manufacturer 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 $298.9 million, down 10.4% year on year, outperforming analyst expectations by 4.3%. It was a very strong quarter for the company, with a significant improvement in its inventory levels.

The stock is down 15.6% since the results and currently trades at $87.47.

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

Weakest Q4: Kulicke and Soffa (NASDAQ:KLIC)

Headquartered in Singapore, Kulicke & Soffa (NASDAQ: KLIC) is a provider of production equipment and tools used to assemble semiconductor devices

Kulicke and Soffa reported revenues of $171.2 million, down 2.9% year on year, falling short of analyst expectations by 0.5%. It was a weak quarter for the company, with underwhelming revenue guidance for the next quarter and a decline in its operating margin.

The stock is down 6.5% since the results and currently trades at $47.01.

Read our full analysis of Kulicke and Soffa'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 $3.76 billion, down 28.8% year on year, surpassing analyst expectations by 1.4%. It was a strong quarter for the company, with a significant improvement in its inventory levels and a solid beat of analysts' EPS estimates.

Lam Research had the slowest revenue growth among its peers. The stock is up 13.6% since the results and currently trades at $964.2.

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

Semtech (NASDAQ:SMTC)

Operating for more than 60 years, Semtech (NASDAQ:SMTC) is a provider of analog and mixed-signal semiconductors used for Internet of Things systems and cloud connectivity.

Semtech reported revenues of $192.9 million, up 15.2% year on year, surpassing analyst expectations by 1.2%. It was a weak quarter for the company, with a decline in its operating margin and a miss of analysts' EPS estimates.

The stock is up 20.5% since the results and currently trades at $33.15.

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

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