As the craze of earnings season draws to a close, here’s a look back at some of the most exciting (and some less so) results from Q3. Today, we are looking at semiconductor manufacturing stocks, starting with IPG Photonics (NASDAQ: IPGP).

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 0.6% below.

Luckily, semiconductor manufacturing stocks have performed well with share prices up 17.7% on average since the latest earnings results.

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 $250.8 million, up 7.6% year on year. This print exceeded analysts’ expectations by 5%. Overall, it was a very strong quarter for the company with a beat of analysts’ EPS and adjusted operating income estimates.

“We delivered third-quarter results at the top end of our expectations with double-digit revenue growth, excluding divestitures, driven by business wins and progress in key strategic initiatives as well as stable industrial demand and growth in battery production,” said Dr. Mark Gitin, Chief Executive Officer of IPG Photonics.

The stock is down 12.9% since reporting and currently trades at $74.85.

Is now the time to buy IPG Photonics? Access our full analysis of the earnings results here, it’s free for active Edge members.

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 44.4% since reporting. It currently trades at $208.50.

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

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.

As expected, the stock is down 5.3% since the results and currently trades at $89.53.

Read our full analysis of Entegris’s results here.

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 result surpassed analysts’ expectations by 2.2%. Aside from that, it was a satisfactory quarter as it also recorded a beat of analysts’ EPS estimates but an increase in its inventory levels.

The stock is up 19.9% since reporting and currently trades at $268.32.

Read our full, actionable report on Applied Materials here, it’s free for active Edge members.

Amtech (NASDAQ: ASYS)

Focusing on the silicon carbide and power semiconductor sectors, Amtech Systems (NASDAQ: ASYS) produces the machinery and related chemicals needed for manufacturing semiconductors.

Amtech reported revenues of $19.84 million, down 17.7% year on year. This print topped analysts’ expectations by 16.7%. It was a very strong quarter as it also produced a beat of analysts’ EPS estimates and an impressive beat of analysts’ revenue estimates.

Amtech pulled off the biggest analyst estimates beat but had the slowest revenue growth among its peers. The stock is up 39.5% since reporting and currently trades at $12.92.

Read our full, actionable report on Amtech here, it’s free for active Edge members.

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