Let’s dig into the relative performance of Monolithic Power Systems (NASDAQ: MPWR) and its peers as we unravel the now-completed Q2 analog semiconductors earnings season.
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.
While some analog semiconductors stocks have fared somewhat better than others, they have collectively declined. On average, share prices are down 2.8% since the latest earnings results.
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. This print exceeded analysts’ expectations by 8.6%. Overall, it was an incredible quarter for the company with a significant improvement in its inventory levels and a beat of analysts’ EPS estimates.
“Our results demonstrate the strength of our diversified model and our continued success in transforming from a chip-only, semiconductor supplier to a full service solutions provider,” said Michael Hsing, CEO and founder of MPS.
Monolithic Power Systems pulled off the biggest analyst estimate beat, highest guidance raise, and fastest revenue growth of the whole group. 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 1.2% since reporting and currently trades at $1,301.
Impinj (NASDAQ: PI)
Founded by Caltech professor Carver Mead and one of his students Chris Diorio, Impinj (NASDAQ: PI) is a maker of radio-frequency identification (RFID) hardware and software.
Impinj reported revenues of $108.4 million, up 10.7% year on year, outperforming analysts’ expectations by 3.5%. The business had a stunning quarter with a significant improvement in its inventory levels and a beat of analysts’ EPS estimates.
The market seems happy with the results as the stock is up 20.6% since reporting. It currently trades at $168.
Is now the time to buy Impinj? 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.
Interestingly, the stock is up 1.5% since the results and currently trades at $13.55.
Read our full analysis of Himax’s results here.
Vishay Intertechnology (NYSE: VSH)
Named after the founder's ancestral village in present-day Lithuania, Vishay Intertechnology (NYSE: VSH) manufactures simple chips and electronic components that are building blocks of virtually all types of electronic devices.
Vishay Intertechnology reported revenues of $888.6 million, up 16.6% year on year. This number missed analysts’ expectations by 1.8%. More broadly, it was actually a strong quarter as it produced a beat of analysts’ EPS estimates and an impressive beat of analysts’ operating income estimates.
The stock is down 19.3% since reporting and currently trades at $31.35.
Read our full, actionable report on Vishay Intertechnology here, it’s free.
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 print surpassed analysts’ expectations by 2.6%. Overall, it was a very strong quarter as it also produced revenue guidance for next quarter exceeding analysts’ expectations and a solid beat of analysts’ operating income estimates.
The stock is flat since reporting and currently trades at $373.95.
Read our full, actionable report on Analog Devices 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 Hidden Gem Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.
