Semiconductor stocks were mostly mixed on Monday as the sector awaited results from industry stalwart AMD (NASDAQ:AMD) later in the week.
On Semiconductor (NASDAQ:ON) shares rose more than 4% after the analog chip supplier reported first-quarter results that topped expectations.
The company earned an adjusted $1.08 per share as revenue declined 5.1% year-over-year to $1.86B. Looking ahead, it expects to earn an adjusted $1.01 per share on $1.83B in revenue.
Lattice Semiconductor (NASDAQ:LSCC) shares rose more than 2% as the company gets set to report first-quarter results after the close of trading on Monday. A consensus of analysts expect the company will earn $0.28on $140.18M in sales.
NXP Semiconductors (NASDAQ:NXPI) shares rose less than 1% ahead of its own quarterly results, which are also slated to be released after the close of trading. Analysts are looking for the company to earn an adjusted $3.07 per share on $3.11B in sales.
AMD shares rose slightly more than 1% as the Dr. Lisa Su-led company is slated to report first-quarter results on April 30. Investment firm Susquehanna said the company’s core business may impact its guidance.
The PC market is a mixed bag, as recent checks indicate notebook builds and sell-through in the first-quarter were better-than-expected, analyst Christopher Rolland said. However, the checks also showed that AMD may have lost some share in both notebooks and desktops, Rolland added. Rolland kept his Positive rating on AMD but lowered his price target to $185.
Nvidia (NVDA), which reports its own quarterly results on May 22, fell around 1%, while Intel (INTC) declined 1.3%.
Other semiconductor stocks were mixed on Monday, with Qualcomm (QCOM), Texas Instruments (TXN) and Monolithic Power Systems (MPWR) modestly higher. Micron (MU), Microchip Technology (MCHP) and Broadcom (AVGO) saw fractional declines.