Q1 Earnings Roundup: Micron (NASDAQ:MU) And The Rest Of The Semiconductors Segment

As the Q1 earnings season comes to a close, it’s time to take stock of this quarter’s best and worst performers in the semiconductors industry, including Micron (NASDAQ:MU) and its peers.

The semiconductor industry is driven by cyclical demand for advanced electronic products like smartphones, PCs, servers, and data storage. While analog chips serve as the building blocks of most electronic goods and equipment, processors (CPUs) and graphics chips serve as their brains. The growth of data and technologies like artificial intelligence, 5G, the Internet of Things, and smart cars are creating the next wave of secular growth for the industry.

The 41 semiconductors stocks we track reported a very strong Q1. As a group, revenues beat analysts’ consensus estimates by 2.6% while next quarter’s revenue guidance was in line.

Luckily, semiconductors stocks have performed well with share prices up 14.7% on average since the latest earnings results.

Micron (NASDAQ:MU)

Founded in the basement of a Boise, Idaho dental office in 1978, Micron (NASDAQ:MU) is a leading provider of memory chips used in thousands of devices across mobile, data centers, industrial, consumer, and automotive markets.

Micron reported revenues of $23.86 billion, up 196% year on year. This print exceeded analysts’ expectations by 20.1%. Overall, it was a stunning quarter for the company with a beat of analysts’ EPS estimates and a solid beat of analysts’ adjusted operating income estimates.

“Micron set new records across revenue, gross margin, EPS, and free cash flow in fiscal Q2, driven by a strong demand environment, tight industry supply, and our strong execution, and we expect significant records again in fiscal Q3,” said Sanjay Mehrotra, Chairman, President and CEO of Micron Technology.

Micron scored the biggest analyst estimate beat and fastest revenue growth of the whole group. Unsurprisingly, the stock is up 85.7% since reporting and currently trades at $857.38.

Read why we think that Micron is one of the best semiconductors stocks, our full report is free.

Best Q1: Texas Instruments (NASDAQ:TXN)

Headquartered in Dallas, Texas since the 1950s, Texas Instruments (NASDAQ:TXN) is the world’s largest producer of analog semiconductors.

Texas Instruments reported revenues of $4.83 billion, up 18.6% year on year, outperforming analysts’ expectations by 6.6%. The business had a stunning quarter with a beat of analysts’ EPS estimates and a solid beat of analysts’ adjusted operating income estimates.

The market seems happy with the results as the stock is up 20% since reporting. It currently trades at $283.65.

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

Slowest Q1: 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 $142.2 million, down 14.5% year on year, falling short of analysts’ expectations by 11%. It was a disappointing quarter as it posted full-year revenue guidance missing analysts’ expectations significantly and underwhelming full-year revenue guidance.

Universal Display delivered the weakest performance against analyst estimates and slowest revenue growth in the group. As expected, the stock is down 1.2% since the results and currently trades at $86.07.

Read our full analysis of Universal Display’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 $3.62 billion, up 37.2% year on year. This print surpassed analysts’ expectations by 2.9%. Overall, it was an exceptional quarter as it also produced revenue guidance for next quarter exceeding analysts’ expectations and an impressive beat of analysts’ adjusted operating income estimates.

The stock is down 3.8% since reporting and currently trades at $398.50.

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

MACOM (NASDAQ:MTSI)

Founded in the 1950s as Microwave Associates, a communications supplier to the US Army Signal Corp, today MACOM Technology Solutions (NASDAQ: MTSI) is a provider of analog chips used in optical, wireless, and satellite networks.

MACOM reported revenues of $289 million, up 22.5% year on year. This number topped analysts’ expectations by 1.2%. It was a strong quarter as it also recorded revenue guidance for next quarter exceeding analysts’ expectations and a decent beat of analysts’ adjusted operating income estimates.

The stock is up 9.2% since reporting and currently trades at $338.39.

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

Market Update

Late in 2025 into early 2026, there was hand-wringing around artificial intelligence. For software companies, the fear was that AI would erode pricing power and compress margins as new tools made it easier to replicate what once required expensive enterprise platforms. Crypto investors had their own version of the same anxiety: if AI agents could trade, allocate capital, and manage wallets autonomously, what exactly was the long-term value of today’s crypto infrastructure?

These concerns triggered a noticeable rotation away from these sectors and into safer havens. But markets rarely dwell on one narrative for long. Spring 2026 came, and the focus shifted abruptly from technological disruption to geopolitical risk. The US’ conflict with Iran became the dominant driver of market psychology, and when geopolitics takes center stage, the script changes quickly. Investors stop debating growth rates and start worrying about oil supply, inflation, and global stability.

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