The end of the earnings season is always a good time to take a step back and see who shined (and who didn’t). Let’s take a look at how analog semiconductors stocks fared in Q2, starting with onsemi (NASDAQ: ON).
Demand for analog chips is generally linked to the overall level of economic growth, as analog chips serve as the building blocks of most electronic goods and equipment. Unlike digital chip designers, analog chip makers tend to produce the majority of their own chips, as analog chip production does not require expensive leading edge nodes. Less dependent on major secular growth drivers, analog product cycles are much longer, often 5-7 years.
The 14 analog semiconductors stocks we track reported a very strong Q2. As a group, revenues beat analysts’ consensus estimates by 1.8% while next quarter’s revenue guidance was 4.9% above.
Amidst this news, share prices of the companies have had a rough stretch. On average, they are down 5.8% since the latest earnings results.
onsemi (NASDAQ: ON)
Spun out of Motorola in 1999 and built through a series of acquisitions, onsemi (NASDAQ: ON) is a global provider of analog chips specializing in autos, industrial applications, and power management in cloud data centers.
onsemi reported revenues of $1.60 billion, up 9.2% year on year. This print exceeded analysts’ expectations by 0.9%. Overall, it was a strong quarter for the company with a beat of analysts’ EPS estimates and a meaningful improvement in its inventory levels.
Investor expectations, however, were likely higher than Wall Street’s published projections, leaving some wishing for even better results (analysts’ consensus estimates are those published by big banks and advisory firms, not the investors who make buy and sell decisions). The stock is down 10% since reporting and currently trades at $72.39.
Is now the time to buy onsemi? Access our full analysis of the earnings results here, it’s free.
Best Q2: Monolithic Power Systems (NASDAQ: MPWR)
Founded in 1997 by its longtime CEO Michael Hsing, Monolithic Power Systems (NASDAQ: MPWR) is an analog and mixed signal chipmaker that specializes in power management chips meant to minimize total energy consumption.
Monolithic Power Systems reported revenues of $980.6 million, up 47.6% year on year, outperforming analysts’ expectations by 8.6%. The business had an incredible quarter with a significant improvement in its inventory levels and a beat of analysts’ EPS estimates.
Monolithic Power Systems pulled off the biggest analyst estimate beat, highest guidance raise, and fastest revenue growth among its peers. Although it had a fine quarter compared to its peers, the market seems unhappy with the results as the stock is down 6.5% since reporting. It currently trades at $1,231.
Is now the time to buy Monolithic Power Systems? Access our full analysis of the earnings results here, it’s free.
Slowest Q2: Himax (NASDAQ: HIMX)
Taiwan-based Himax Technologies (NASDAQ: HIMX) is a leading manufacturer of display driver chips and timing controllers used in TVs, laptops, and mobile phones.
Himax reported revenues of $227.4 million, up 5.9% year on year, exceeding analysts’ expectations by 2%. Still, it was a slower quarter as it posted EPS in line with analysts’ estimates.
The stock is flat since the results and currently trades at $13.48.
Read our full analysis of Himax’s results here.
Analog Devices (NASDAQ: ADI)
Founded by two MIT graduates, Ray Stata and Matthew Lorber in 1965, Analog Devices (NASDAQ: ADI) is one of the largest providers of high performance analog integrated circuits used mainly in industrial end markets, along with communications, autos, and consumer devices.
Analog Devices reported revenues of $4.02 billion, up 39.6% year on year. This number beat analysts’ expectations by 2.6%. It was a very strong quarter as it also recorded revenue guidance for next quarter exceeding analysts’ expectations and an impressive beat of analysts’ operating income estimates.
The stock is down 5.9% since reporting and currently trades at $354.50.
Read our full, actionable report on Analog Devices here, it’s free.
Universal Display (NASDAQ: OLED)
Serving major consumer electronics manufacturers, Universal Display (NASDAQ: OLED) is a provider of organic light emitting diode (OLED) technologies used in display and lighting applications.
Universal Display reported revenues of $152.2 million, down 11.4% year on year. This result lagged analysts’ expectations by 3.6%. Overall, it was a mixed quarter for the company.
Universal Display had the weakest performance against analyst estimates and slowest revenue growth in the group. The stock is up 2.5% since reporting and currently trades at $82.38.
Read our full, actionable report on Universal Display here, it’s free.
Market Update
Over the past year, investors have been forced to repeatedly answer the same question: what is the market’s biggest risk? The answer has changed several times, and each shift has reshaped market leadership.
Late in 2025 and early 2026, artificial intelligence became the market’s primary uncertainty. Investors questioned whether AI would erode software pricing power and weaken competitive moats as AI made it easier to replicate once-differentiated products.
By the spring, technology took a back seat to geopolitics. The U.S. conflict with Iran briefly became the market’s dominant narrative, raising concerns about oil prices, inflation, and global growth. But as energy markets remained orderly and fears of a prolonged supply disruption faded, investors quickly turned their focus back to fundamentals.
Want to invest in winners with rock-solid fundamentals? Check out our Top 5 Quality Compounder Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.
