Earnings results often indicate what direction a company will take in the months ahead. With Q3 behind us, let’s have a look at Applied Materials (NASDAQ: AMAT) 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 very strong Q3. As a group, revenues beat analysts’ consensus estimates by 3.3% while next quarter’s revenue guidance was in line.

Luckily, semiconductor manufacturing stocks have performed well with share prices up 36.6% on average since the latest earnings results.

Applied Materials (NASDAQ: AMAT)

Founded in 1967 as the first company to develop tools for other businesses in the semiconductor industry, Applied Materials (NASDAQ: AMAT) is the largest provider of semiconductor wafer fabrication equipment.

Applied Materials reported revenues of $6.8 billion, down 3.5% year on year. This print exceeded analysts’ expectations by 2.2%. Overall, it was a satisfactory quarter for the company with a beat of analysts’ EPS estimates but an increase in its inventory levels.

“As AI adoption drives substantial investment in advanced semiconductors and wafer fab equipment, Applied Materials delivered its sixth consecutive year of growth in fiscal 2025,” said Gary Dickerson, President and CEO.

Interestingly, the stock is up 46.5% since reporting and currently trades at $327.81.

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

Best Q3: Teradyne (NASDAQ: TER)

Sporting most major chip manufacturers as its customers, Teradyne (NASDAQ: TER) is a US-based supplier of automated test equipment for semiconductors as well as other technologies and devices.

Teradyne reported revenues of $769.2 million, up 4.3% year on year, outperforming analysts’ expectations by 3.3%. The business had a stunning quarter with an impressive beat of analysts’ adjusted operating income estimates and revenue guidance for next quarter exceeding analysts’ expectations.

The market seems happy with the results as the stock is up 58.2% since reporting. It currently trades at $228.40.

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

Weakest Q3: Entegris (NASDAQ: ENTG)

With fabs representing the company’s largest customer type, Entegris (NASDAQ: ENTG) supplies products that purify, protect, and generally ensure the integrity of raw materials needed for advanced semiconductor manufacturing.

Entegris reported revenues of $807.1 million, flat year on year, exceeding analysts’ expectations by 0.6%. Still, it was a slower quarter as it posted revenue guidance for next quarter missing analysts’ expectations significantly and EPS in line with analysts’ estimates.

Interestingly, the stock is up 24.2% since the results and currently trades at $117.45.

Read our full analysis of Entegris’s results here.

Semtech (NASDAQ: SMTC)

A public company since the late 1960s, 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 $267 million, up 12.8% year on year. This print was in line with analysts’ expectations. It was a very strong quarter as it also produced a beat of analysts’ EPS estimates and a solid beat of analysts’ adjusted operating income estimates.

Semtech had the weakest performance against analyst estimates among its peers. The stock is up 12.4% since reporting and currently trades at $78.86.

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

Photronics (NASDAQ: PLAB)

Sporting a global footprint of facilities, Photronics (NASDAQ: PLAB) is a manufacturer of photomasks, templates used to transfer patterns onto semiconductor wafers.

Photronics reported revenues of $215.8 million, down 3.1% year on year. This result surpassed analysts’ expectations by 5.5%. Overall, it was an exceptional quarter as it also logged a beat of analysts’ EPS estimates and revenue guidance for next quarter exceeding analysts’ expectations.

The stock is up 37.6% since reporting and currently trades at $35.36.

Read our full, actionable report on Photronics here, it’s free.

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