GLOBAL SEMICONDUCTOR 5 JUNE 25_EN

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This Week’s News

GlobeNewswire - SEMI Selects Kiterocket as Agency of Record - 3/6/2025

Kiterocket to support the global association's communications strategy, amplify industry leadership, and advance cross-sector initiatives from advocacy to workforce development

For the complete story, see:

https://www.globenewswire.com/news-release/2025/06/03/3092504/0/en/SEMI-Selects-Kiterocket-as-Agency-of-Record.html

Bloomberg - Broadcom Ships New Gear Meant to Improve AI Chip Performance - 3/6/2025

Data center switch will let customers get more from their Nvidia processors

For the complete story, see:

https://www.bloomberg.com/news/articles/2025-06-03/broadcom-avgo-ships-gear-meant-to-improve-nvidia-nvda-ai-chip-performance

The Edge Singapore - Chinese semiconductor GigaDevice establishes global headquarters in Singapore - 3/6/2025

GigaDevice Semiconductor – a Shanghai-listed Chinese fabless semiconductor company – has officially opened its global headquarters in Singapore.

For the complete story, see:

https://www.theedgesingapore.com/digitaledge/semiconductor/chinese-semiconductor-gigadevice-establishes-global-headquarters-singapore

Other Stories

Policy Circle - Semiconductor dreams need more than just state subsidies - 3/6/2025

digitimes - Tata Electronics reportedly eyes Malaysia for semiconductor acquisition to bolster ATMP capabilities - 3/6/2025

GlobeNewswire - STMicroelectronics Announces Status of Common Share Repurchase Program - 2/6/2025

OpenGov Asia - Selangor’s Push to Bridge Malaysia’s Semiconductor Talent Gap - 30/5/2025

Macao News - Top EU and Chinese semiconductor manufacturers meet in Beijing - 30/5/2025

Media Releases

Taiwan Semiconductor Manufacturing Co., Ltd - TSMC Shareholders’ Meeting Resolutions – 3/6/2025

Nvidia Corporation - Bring Receipts: New NVIDIA AI Blueprint Detects Fraudulent Credit Card Transactions With Precision – 2/6/2025

Latest Research

Industrial Policy in the Global Semiconductor Sector – By Pinelopi K. Goldberg, Réka Juhász, Nathan J. Lane, Giulia Lo Forte and Jeff Thurk

Overviews of Leading Companies

Advanced Micro Devices Inc. (AMD)

Amkor Technology Inc.

Analog Devices, Inc.

Applied Materials, Inc.

Applied Micro Circuits Corporation

Atmel Corporation

Broadcom Corporation

Cypress Semiconductor Corporation

Global Semiconductor Alliance

Hisilicon Technologies Co., Ltd.

II-VI Incorporated

Infineon Technologies AG

Intel Corporation

Lam Research Corporation

Macronix International Company Ltd

Micron Technology, Inc

Microsemi Corporation

Nvidia Corporation

NXP Semiconductors N.V.

ON Semiconductor Corporation

Qualcomm Incorporated

Renesas Electronics Corporation

Samsung Semiconductor

Semtech Corporation

SK Hynix Inc.

Skyworks Solutions Inc.

Sony Semiconductor

STMicroelectronics N.V.

Taiwan Semiconductor Manufacturing Co., Ltd. (TSMC)

Toshiba Semiconductor

United Microelectronics Corporation

Vishay Intertechnology Inc.

Xilinx Inc.

Associate: Donny Stanley

News and Commentary

GlobeNewswire - SEMI Selects Kiterocket as Agency of Record - 3/6/2025

Kiterocket to support the global association's communications strategy, amplify industry leadership, and advance cross-sector initiatives from advocacy to workforce development

For the complete story, see:

https://www.globenewswire.com/news-release/2025/06/03/3092504/0/en/SEMI-Selects-Kiterocket-as-Agency-of-Record.html

Bloomberg - Broadcom Ships New Gear Meant to Improve AI Chip Performance - 3/6/2025

Data center switch will let customers get more from their Nvidia processors

For the complete story, see:

https://www.bloomberg.com/news/articles/2025-06-03/broadcom-avgo-ships-gear-meant-to-improve-nvidia-nvda-ai-chip-performance

The Edge Singapore - Chinese semiconductor GigaDevice establishes global headquarters in Singapore - 3/6/2025

GigaDevice Semiconductor – a Shanghai-listed Chinese fabless semiconductor company – has officially opened its global headquarters in Singapore.

For the complete story, see:

https://www.theedgesingapore.com/digitaledge/semiconductor/chinese-semiconductor-gigadevice-establishes-global-headquarters-singapore

Policy Circle - Semiconductor dreams need more than just state subsidies - 3/6/2025

India’s announcement that it will unveil its first indigenously manufactured semiconductor chip later this year marks a milestone—symbolic and strategic—in what could become one of the country’s most significant industrial transitions in recent history.

For the complete story, see:

https://www.policycircle.org/opinion/india-semiconductor-manufacturing/

digitimes - Tata Electronics reportedly eyes Malaysia for semiconductor acquisition to bolster ATMP capabilities - 3/6/2025

Tata Electronics is reportedly in advanced talks to acquire a semiconductor facility in Malaysia, with DNeX's SilTerra among the top targets...

For the complete story, see:

https://www.digitimes.com/news/a20250603VL201/india-malaysia-atmp-acquisition-osat-foxconn.html

GlobeNewswire - STMicroelectronics Announces Status of Common Share Repurchase Program - 2/6/2025

STMicroelectronics N.V., a global semiconductor leader serving customers across the spectrum of electronics applications, announces full details of its common share repurchase program disclosed via a press release dated June 21, 2024.

For the complete story, see:

https://www.globenewswire.com/news-release/2025/06/02/3091775/0/en/STMicroelectronics-Announces-Status-of-Common-Share-Repurchase-Program.html

OpenGov Asia - Selangor’s Push to Bridge Malaysia’s Semiconductor Talent Gap - 30/5/2025

In a bold move to address Malaysia’s growing semiconductor talent gap, the Selangor government has introduced a support package of up to RM 10,000 (US$2,120) for young Malaysians seeking training and employment in the chip design and advanced electronics sectors.

For the complete story, see:

https://opengovasia.com/2025/05/30/selangors-push-to-bridge-malaysias-semiconductor-talent-gap/

Macao News - Top EU and Chinese semiconductor manufacturers meet in Beijing - 30/5/2025

Tuesday’s meeting aimed to increase Sino-European cooperation across the global semiconductor supply chain as the US ramped up its tech curbs on China

For the complete story, see:

https://macaonews.org/news/greater-china/china-eu-semiconductors/

Media Releases

Taiwan Semiconductor Manufacturing Co., Ltd - TSMC Shareholders’ Meeting Resolutions – 3/6/2025

HSINCHU, Taiwan, R.O.C., June 3, 2025 – TSMC (TWSE: 2330, NYSE: TSM) today held its 2025 Annual Shareholders’ Meeting, which passed the following resolutions:

Acknowledged the 2024 Business Report and Financial Statements. Consolidated revenue totaled NT$2,894.31 billion and net income was NT$1,173.27 billion, with diluted earnings per share of NT$45.25.
Approved amendments to TSMC’s Articles of Incorporation.

https://pr.tsmc.com/english/news/3237

Nvidia Corporation - Bring Receipts: New NVIDIA AI Blueprint Detects Fraudulent Credit Card Transactions With Precision – 2/6/2025

Financial losses from worldwide credit card transaction fraud are projected to reach more than $403 billion over the next decade.

The new NVIDIA AI Blueprint for financial fraud detection can help combat this burgeoning epidemic — using accelerated data processing and advanced algorithms to improve AI’s ability to detect and prevent credit card transaction fraud.

Launched this week at the Money20/20 financial services conference, the blueprint provides a reference example for financial institutions to identify subtle patterns and anomalies in transaction data based on user behavior to improve accuracy and reduce false positives compared with traditional methods.

It shows developers how to build a financial fraud detection workflow by providing reference code, deployment tools and a reference architecture.

Companies can streamline the migration of their fraud detection workflows from traditional compute to accelerated compute using the NVIDIA AI Enterprise software platform and NVIDIA accelerated computing. The NVIDIA AI Blueprint is available for customers to run on Amazon Web Services, with availability coming soon on Dell Technologies and Hewlett Packard Enterprise. Customers can also use the blueprint through service offerings from NVIDIA partners including Cloudera, EXL, Infosys and SHI International.

Businesses embracing comprehensive machine learning (ML) tools and strategies can observe up to an estimated 40% improvement in fraud detection accuracy, boosting their ability to identify and stop fraudsters faster and mitigate harm.

As such, leading financial organizations like American Express and Capital One have been using AI to build proprietary solutions that mitigate fraud and enhance customer protection.

The new AI Blueprint accelerates model training and inference, and demonstrates how these components can be wrapped into a single, easy-to-use software offering, powered by NVIDIA AI.

Currently optimized for credit card transaction fraud, the blueprint could be adapted for use cases such as new account fraud, account takeover and money laundering.

Using Accelerated Computing and Graph Neural Networks for Fraud Detection

Traditional data science pipelines lack the compute acceleration to handle the massive data volumes required for effective fraud detection. ML models like XGBoost are effective for detecting anomalies in individual transactions but fall short when fraud involves complex networks of linked accounts and devices.

Helping address these gaps, NVIDIA RAPIDS — part of the NVIDIA CUDA-X collection of microservices, libraries, tools and technologies — enables payment companies to speed up data processing and transform raw data into powerful features at scale. These companies can fuel their AI models and integrate them with graph neural networks (GNNs) to uncover hidden, large-scale fraud patterns by analyzing relationships across different transactions, users and devices.

The use of gradient-boosted decision trees — a type of ML algorithm — tapping into libraries such as XGBoost, has long been the standard for fraud detection.

The new AI Blueprint for financial fraud detection enhances the XGBoost ML model with NVIDIA CUDA-X Data Science libraries including GNNs to generate embeddings that can be used as additional features to help reduce false positives.

The GNN embeddings are fed into XGBoost to create and train a model that can then be orchestrated. In addition, NVIDIA Dynamo-Triton, formerly NVIDIA Triton Inference Server, boosts real-time inferencing while optimizing AI model throughput, latency and utilization.

NVIDIA CUDA-X Data Science and Dynamo-Triton are included with NVIDIA AI Enterprise.

Leading Financial Services Organizations Adopt AI

During a time when many large North American financial institutions are reporting online or mobile fraud losses continue to increase, AI is helping to combat this trend.

American Express, which began using AI to fight fraud in 2010, leverages fraud detection algorithms to monitor all customer transactions globally in real time, generating fraud decisions in just milliseconds. Using a combination of advanced algorithms, one of which tapped into the NVIDIA AI platform, American Express enhanced model accuracy, advancing the company’s ability to better fight fraud.

European digital bank bunq uses generative AI and large language models to help detect fraud and money laundering. Its AI-powered transaction-monitoring system achieved nearly 100x faster model training speeds with NVIDIA accelerated computing.

BNY announced in March 2024 that it became the first major bank to deploy an NVIDIA DGX SuperPOD with DGX H100 systems, which will help build solutions that support fraud detection and other use cases.

And now, systems integrators, software vendors and cloud service providers can integrate the new NVIDIA blueprint for fraud detection to boost their financial services applications and help keep customers’ money, identities and digital accounts safe.

https://blogs.nvidia.com/blog/ai-blueprint-fraud-detection/

Latest Research

Industrial Policy in the Global Semiconductor Sector

Pinelopi K. Goldberg, Réka Juhász, Nathan J. Lane, Giulia Lo Forte and Jeff Thurk

Abstract

The resurgence of subsidies and industrial policies has raised concerns about their potential inefficiency and alignment with multilateral principles. Critics warn that such policies may divert resources to less efficient firms and provoke retaliatory measures from other countries, leading to a wasteful “subsidy race.” However, subsidies for sectors with inherent cross-border externalities can have positive global effects. This paper examines these issues within the semiconductor industry: a key driver of economic growth and innovation with potentially significant learning-by-doing and strategic importance due to its dual-use applications. Our study aims to: (1) document and quantify recent industrial policies in the global semiconductor sector, (2) explore the rationale behind these policies, and (3) evaluate their economic impacts, particularly their cross-border effects, and compatibility with multilateral principles. We employ historical analysis, natural language processing, and a model-based approach to measure government support and its impacts. Our findings indicate that government support has been vital for the industry’s growth, with subsidies being the primary form of support. They also highlight the importance of cross-border technology transfers through FDI, business and research collaborations, and technology licensing. China, despite significant subsidies, does not stand out as an outlier compared to other countries, given its market size. Preliminary model estimates indicate that while learning-by-doing exists, it is smaller than commonly believed, with significant international spillovers. These spillovers likely reflect cross-country technology transfers and the role of fabless clients in disseminating knowledge globally through their interactions with foundries. Such cross-border spillovers are not merely accidental but result from deliberate actions by market participants that cannot be taken for granted. Firms may choose to share knowledge across borders or restrict access to frontier technology, thereby excluding certain countries. Future research will use model estimates to simulate the quantitative implications of subsidies and to explore the dynamics of a “subsidy race” in the semiconductor industry.

https://www.nber.org/papers/w32651

The Industry

Latest Update: 2025

Semiconductor Market Outlook for 2025: Predictions and Trends to Monitor

The electronic components industry has had a tumultuous year of transition in its push toward recovery and stabilization. At the beginning of 2024, Edgewater Research offered a tentative outlook regarding the overall active and passive component market sectors. One of the biggest concerns at the beginning of the year was the remaining challenge of excess inventory, which still poses an issue for companies in 4Q24.

Edgewater Research’s initial analysis found that 2024 would be a transitional year for the market before shifting to stabilization and growth. Their research found that demand across the market would likely remain flat for most industries, especially those in consumer electronics, which saw some of the more significant drops as the world began reopening post-COVID-19 pandemic.

Areas of growth were primarily found within artificial intelligence (AI), high-performance computing, automotive, aerospace, and defense markets. Demand has remained high in these areas, contributing to some bottlenecks and short-term shortages. Generative AI has been, and will continue to be, the trend-setter in the coming few years. Likewise, the debut of AI-enabled smartphones, PCs, and other devices will spark renewed interest among consumers, contributing to growth.

However, this interest won’t be significant enough to draw the industry out of its slow recovery faster.

Weak Spot Market for Memory Components will Continue into 1H25

DRAM and NAND Flash have seen the most fluctuations throughout the year. Due to AI applications, high-bandwidth memory (HBM) and enterprise solid-state drives (SSDs) have seen the most consistent demand. This has contributed to tremendous growth throughout the year, contributing to some bottlenecks and shortages.

In response, memory leaders SK Hynix, Samsung Electronics, and Micron Technology readjusted production capacity to focus on HBM. This also included undergoing testing to sell to specific clients, such as Samsung successfully passing Nvidia’s tests so Samsung’s HBM3E products could be used in Nvidia’s AI processors.

Despite the success of some artificial intelligence-capable components over the years, growing concerns regarding the general DRAM and NAND flash market have persisted. The spot market for DRAM and NAND flash has been relatively flat due to excess inventory throughout the year. Within the last few months, the spot market has continued to fall despite holidays, including China’s National Day Golden Week, which usually spark renewed procurement.

TrendForce data showed that module houses were keen on keeping their inventory levels low due to sluggish transitions and buyers' unwillingness to raise their stock. Sales pressure has made several suppliers sell their products at lower unit prices, as many procurement teams are using excess inventory to fill any backlogs that arise. This has kept the market below its average selling price (ASP). Many expect this current situation to remain until 2025.

Likewise, industry analysts and research firms view the approaching year with optimism or overwhelming pessimism. Morgan Stanley’s research has placed it firmly within the latter side of the spectrum, with a “bearish view on Korean memory chipmakers.”

Citing the weak demand for DRAM, Morgan Stanley analysts have expressed concerns regarding HBM’s heightened popularity. The firm projected that in 2024, “global HBM supply will hit 250 billion gigabits (Gb), far exceeding demand, estimated at 150 billion Gb—a surplus of 66.7%.”

Furthermore, Morgan Stanley predicts that general DRAM will peak in 4Q24 before initiating a multi-year decline through 2026. This decline will be fueled by weak demand and a massive oversupply courtesy of aggressive strategic expansions by Samsung Electronics and Changxin Memory Technologies (CXMT).

Other industry players have grown concerned about CXMT’s decision to increase DRAM production capacity amid a weak market. Nomura Securities predicts that “if CXMT expands its DRAM production capacity as planned, it will account for 15% of the global DRAM market. In terms of production volume alone, it would become the world's fourth-largest DRAM manufacturer after Micron.”

This could further exacerbate the already weak spot market, further driving down ASPs within DRAM and lending credence to Morgan Stanley’s oversupply theory. However, many industry experts disagree with Morgan Stanley’s “exceedingly pessimistic” report.

BusinessKorea states that experts argue that the HBM market is driven by customized and client-approved orders, which would make oversupply far less likely. Already, the production capacity of HBM for SK Hynix and Samsung Electronics is fully booked out. Similarly, Gartner sees HBM shipments increasing by 57% in 2025, another monumental increase after the explosive 265% growth in 2024.

Likewise, HBM, which would significantly contribute to a DRAM oversupply according to Morgan Stanley, has been mainly used in AI applications, which are expected to be in high demand over the next several years.

Lending further credence to this theory is the recent report by the management consulting firm Bain & Company, which warns of an AI shortage on the horizon.

Artificial Intelligence Fueled Shortages May Appear if Demand Skyrockets

AI has been in high demand by organizations and tech giants alike since the debut of OpenAI’s ChatGPT, which propelled it into general focus. With the heightened interest in generative AI and large language models (LLMs), AI-capable components and processes have seen growing demand throughout the year.

With the introduction of AI-enabled smartphones and PCs, the demand for AI is only expected to grow. Edgewater Research detailed that 2025 will mark the actual kick-off for AI PCs, and according to Statista and market analyst Canalys, AI laptops will quickly reach over 50% of global PC shipments within the next few years.

In July, the IDC forecasted that generative AI smartphone shipments would grow 364% year-over-year in 2024, reaching 234.2 million units and growing 73.1% in 2025. The IDC continues , “By 2028, worldwide Gen AI smartphone shipments will reach 912 million units, resulting in a compound annual growth rate (CAGR) of 78.4% for 2023-2028.”

Marvell Technology is already planning to increase prices for their AI-related products during 1Q25. In a notice to customers , Marvell stated it would be raising prices across its entire product list due to market pressure for accelerated computing and unprecedented investments.

These two consumer markets are only a portion of the growing demand for AI components across various markets. With the explosive growth rate AI technologies will see within the next few years, HBM, SSDs, graphics processing units (GPUs), advanced packaging, and other necessary components will be in great demand.

Bain & Company reports that the growing demand for AI components has placed the industry at risk of another shortage. Anne Hoecker, Head of Bain’s Americas technology practice, warns that the ongoing high demand for GPUs and other components due to AI-enabled devices could lead to a shortage in semiconductor supply.

“The increasing demand for GPUs has caused shortages in some segments of the semiconductor supply chain.” Hoecker points out that if demand continues to grow, “the onslaught of AI-enabled devices may accelerate PC refresh cycles and pose extreme widespread supply constraints for semiconductors.”

Bain & Company’s report noted that while it is difficult to forecast consumer reaction to new products, a demand rise exceeding 20% could “threaten the complexity of the supply chain.”

The report stated that the “supply and demand of semiconductors is a delicate balance, as the industry and its customers know all too well after the past few years. Although the pandemic-induced chip shortage has passed, executives are starting to prepare for the next potential crunch caused by (you guessed it) artificial intelligence.”

According to Scott Bickley, Research Practice Lead at Info-Tech Research Group, “the advanced semiconductor supply chain is the most fragile on the planet. Over 5,000 vendors must work in perfect harmony to produce the most advanced chips.”

“Many of these vendors,” he said, “supply a single component to a single company, without which the whole system comes screeching to a halt. The technical obstacles alone are mind-boggling, notwithstanding the geopolitical risks facing TSMC and the normal headwinds of logistics management.”

Additionally, Gartner notes that the lack of competition within the GPU market, with most of the demand being aimed at Nvidia, constraints will continue until more competition arises.

Bain & Company reports that capital spending on data centers will only increase year-on-year by 36% in 2024 due to AI and accelerated computing. Should data center demand for current-generation GPUs double by 2026, suppliers must increase output by 30% or more. Rising geopolitical tensions and severe weather could further complicate this, impacting the fragile supply chain.

Geopolitics Will Continue to Shape the Supply Chain

In the last few years, semiconductors have been thrust into the spotlight of the ongoing trade war between the United States and China. The U.S. has prioritized limiting China’s access to advanced semiconductors and lithography manufacturing equipment and outright prohibiting the sale of specific AI-capable components, such as Nvidia’s GPUs. China has responded with its own restrictions, most notably on critical raw minerals used in producing semiconductors, such as gallium, germanium, and antimony.

Every month, the U.S. and China announce new restrictions or expand the list of components that fall under sales bans. China’s recent restrictions on gold antimony have caused extreme concern among aerospace and defense organizations precisely due to their reliance on Chinese minerals. The trade war shows no signs of slowing, and a new administration in the U.S., whether it is Democrat or Republican-led, will likely further fuel tension.

Depending on the future U.S. president, there could be a noticeable increase in restrictions that would make the relationship between the two countries more contentious. It should be noted that even if Democratic Party nominee Kamala Harris is elected, the Biden-Harris Administration kept most of the previous Trump Administration tariffs and even implemented new restrictions.

Likewise, the ongoing Israel-Hamas conflict continues to spread discord within the Red Sea and Suez Canal, impacting logistics. Shipping companies have been taking alternate routes, mostly around Cape Good Hope in South Africa, if they don’t want to risk Houthi attacks on their cargo ships. The Suez Canal’s route accounts for 15% of global maritime trade volumes , which caused a seismic shift in shipping patterns in the 8 months after the attacks began.

There were also noticeable drops in trade traveling through the Bab el-Mandeb Strait, which connects the Red Sea to the Arabian Sea through the Gulf of Aden. The most significant disruption has been to the oil industry, but the global impact of these disruptions has affected every sector, from semiconductors to fruits.

The most significant shipping delays spurned by the Red Sea Crisis are related to shipments through Asian ports destined for Western Europe or the United States East Coast. Shipping routes from Asia to Germany saw a “55% increase in transit times, resulting in an average delay of 12 days.” For shipments from Asia to New York, there was an average of 11-day delays. For the semiconductor industry, which sees a fair amount of just-in-time (JIT) manufacturing, this severely impacted participating companies.

Unfortunately, there is no end in sight for the foreseeable future. Lead times have stayed low due to flat consumer demand and the remaining challenges of excess inventory. However, if demand picks up, transport companies will begin feeling the pressure, and the added costs of rerouting around Cape Good Hope to avoid the Red Sea Crisis could further impact lead times and prices.

The current dissatisfaction among port workers in the United States could exacerbate this. The threat of the East and Gulf Coast ports closing for an extended period when the International Longshoremen’s Association (ILA) began to strike concerned many. If the strike had only lasted a week, it would have taken four to six to achieve stabilization from backlogs incurred.

The strike lasted only three days before a tentative agreement was reached, but it still caused some challenges and a daily loss of $5 billion. Pricing platform Xeneta said it would take “two to three weeks for the normal flow of goods to be re-established.”

This tentative deal, however, has only tabled the strike for the time being. It is expected that talks regarding automation will resume in January, which could, if discussions break down, lead to another strike on the eve of the Lunar New Year, another global peak shipping season. If this one persists beyond three days, recovering from it could take a month or longer.

That’s without adding the current damage the severe storms in Asia and Southeast U.S. have left.

Severe Weather is On the Rise

The world has been rocked by severe weather within the last few months, including typhoons, hurricanes, and climate challenges. 2023 was a record-breaking year for billion-dollar weather events or severe storms that surpassed over one billion in damages. 2024 has had many impactful natural disasters that could have upheaved the global semiconductor supply chain if facilities weren’t as lucky as they were.

2024 began with a 7.5 earthquake that struck Noto, Japan, killing hundreds and injuring over a thousand. The quake also left dozens of communities without power and some semiconductor plants out of commission, awaiting structural damage assessments for days. Several months later, another earthquake struck Taiwan, the global semiconductor fabrication and assembly leader.

The Hualien earthquake again devastated and killed the affected areas. However, due to the earthquake occurring on the island’s less populated eastern side and the companies' strict quake preparedness, the global impact on the semiconductor industry was minimal. However, these disruptions could have had a more considerable impact if they had occurred closer together.

Like what is occurring now, Southeast Asian nations were rocked by the quick succession of typhoon Gaemi and super typhoon Yagi. Again, Taiwan’s foremost producer of semiconductors, TSMC, weathered the storm, but the same could not be said for most of the ports. With shipping congestion increasing from typhoon damage, hurricanes Helene and Milton in the U.S. only contributed to these issues.

Hurricane Helene posed a significant problem to the semiconductor industry because the Spruce Pine Mining facility fell within its path. The Spruce Pine Mine supplies most of the highly pure quality quartz used to fabricate silicon wafers. The two companies within the area, Sibelco, and Quartz Corp., did not report severe damage to their facilities or products due to the hurricane.

However, the railways and roads, the main transportation methods out of the area, were significantly damaged. The rail lines could take several years to repair and fully return to road capacity. The extensive damage to the main transportation methods within the area could impact the operations within the Spruce Pine mine for some time, even into the following year.

Based on these impacts, the facilities will likely be operating at a reduced state, which could result in short-term shortages that impact the supply chain through 1H25. This assumes no other natural disasters occurring within or around Spruce Pine, further exacerbating the situation.

These storms could have had a much more significant effect on the semiconductor supply chain during heightened market demand. Since the market has stayed flat over the year, companies have had time to recover without pushing for greater production capacity.

In 2025, while recovery will still occur in the first half of the year, should demand begin to pick up, as Edgewater Research suspected in its initial assessment of the market outlook, the industry could see a fluctuation in heightened orders that strain the recovery incurred by the hurricanes and the port strike.

Looking to the Future - What Will 2025 Bring to the Market?

The electronic components industry will continue to recover through the first quarter of 2025. Excess inventory has remained a challenge throughout the year despite buyers filling backlogs with existing surplus and suppliers engaging in strict production cuts. Seasonal demand has been lower than expected, as seen with China’s National Day Golden Week. Back-to-school shopping within the U.S. and Europe was also slower than expected, adding to lower-than-predicted sales.

With the debut of AI smartphones and laptops, Edgewater Research forecasted the real sales boom would occur over 2025. This prediction will likely remain accurate as market demand has remained low over the last quarter. Similarly, excess inventory mitigation will temper new purchases of other components over the seasonal shopping periods.

ASML has remarked that it is experiencing a market downturn and expects a slower, gradual recovery. However, it should be noted that due to restrictions on ASML’s equipment in China, which made up 29% of last year, caused sales to drop significantly. That has affected its market outlook, which may not apply to other industries.

Altera, an Intel company, has also announced its decision to increase prices on its FPGA products due to market pressure and increased operational costs. This will result in a 7%, 10%, and 20% increase on specific product lines. These raises will be put into effect in mid-Q4 and remain in place over 1Q25.

Concurrently, TSMC has surpassed quarterly expectations again, blowing previous estimations out of the water with 54% growth in Q3. This success was driven primarily by artificial intelligence, which comprises a mid-teens percentage of its yearly sales. The company expects this demand to remain high and “healthy” for at least five years. Other AI-associated chip suppliers, such as Nvidia, AMD, Broadcom, Intel, and Qualcomm, saw smaller but similar growth.

What does this mean for the 2025 semiconductor market? Here are a few things to consider for the following year.

Shortages Inbound: Artificial intelligence and high-performance computing will continue to see high demand. However, production capacity could become strained due to geopolitical events, lack of competition, natural disasters, and the ongoing labor shortage.
Shifting Priorities by Fabs: AI and hyper-scale cloud computing will contribute to fabs' changing priorities and strategies, impacting certain component sourcing over the next few years.
Price Increases: Altera, ADI, and Marvell Technology have announced their decision to increase prices on FPGA and optical communication products respectively due to market pressure and the increased demand for accelerated computing by AI trends.
Layoffs Leading to Instability: There is growing concern that large, franchised distributors could be laying off large numbers of tenured personnel, contributing to instability between supplier and buyer relationships.
Economic Recovery: The global economy will see greater stabilization, contributing to a return to normal consumer spending habits. This will help digest the remaining excess stock and improve spot prices.
Industry Growth in Specific Sectors: With the proliferation of AI and high-performance computing, along with the global state of geopolitics, several industries are likely to benefit over 2025, including power grids, data centers, automotive, aerospace, defense, networking, and the Internet of Things (IoT).
Legacy Components Will be Harder to Source: With the popularity of AI, prioritization of lucrative lines during the pandemic, and rising tensions between the U.S. and China, legacy components over 65nm will be more challenging to source. There will be a significant supply/demand imbalance coming for legacy parts. Mature nods, 28nm or higher, and advanced nods, lower than 11nm, will be easier to source as availability opens up with new fabs coming online.
Increased Instant Obsolescence: Many organizations may start cutting historical lines, contributing to cases of instance obsolescence, as layoffs occur. Today, 30% of all obsolete components enter obsolescence instantly, heightening the challenges of component unavailability.

Over the next quarter, it will be pertinent to watch the market for the possible impact these shifts could have on popular brands. The AI boom will likely contribute to increasing price trends and lead time delays for some components, especially with rising geopolitical tensions due to the U.S.-China trade war. To stay abreast of these shifts, here is a list of some of the most popular brands and their associated products that procurement teams should pay particular attention to.

Components	Supplier	Lead Time (Weeks)	Future Price
Interface	Broadcom	26-54	Stable
FPGA	Xilinx	8-16	Stable
DRAM	Micron	16	Up
PMICs	Texas Instruments	8-16	Stable
MCU	NXP	8	Up
MCU	Infineon	12-16	Stable
Discrete	Onsemi	16+	Stable
DRAM	Samsung	8	Up
Connectors	Molex	8-30	Stable
PMICs	Linear Technology	14-18	Up
MCU	Microchip	12-14	Stable
MCU	ST Micro	8-10	Stable
FPGA	Altera	12-14	Up
Amplifier	Analog Devices	13-15	Up

Overall, 2025 will mark the change from a transitional market, what we saw during 2024, to true recovery and stabilization. Most of 1H25 will likely remain geared toward recovery with low spot market prices, specifically in memory, and continued excess inventory mitigation. Procurement teams will likely remain cautious throughout the year's first half for general components while AI, high-performance computing, and other sectors see strained availability.

Take Proactive Action to Prepare for Sudden Market Shifts

The industry believes that the biggest challenge today is supply chain disruptions. While this is true, due to their abruptness, which occurs with little to no warning, market shifts can also contribute to sudden component unavailability or excess. Market trends are a risk to supply chain stabilization that can be mitigated if one knows how to prepare.

Utilizing market intelligence tools that analyze historical trends and ongoing procurement shifts can help alert teams to upcoming bottlenecks or gluts. Combined with a global electronic components distributor that employs a team of industry experts who can help organizations source hard-to-find stock and sell unnecessary surplus, companies can mitigate problems if plans fall through.

Sourceability’s digital tools, Datalynq and Sourcengine, the premier market intelligence tool for the electronic components industry and a global e-commerce platform for parts, combined with its talented team, can help your organization prepare for the worst and capitalize on opportunities. Due to the widespread variation in demand, 2025 will be an exciting year within the market alone.

This is without considering the ongoing labor shortage, rising geopolitics, and increasing occurrences of natural disasters. In the days post-COVID-19 pandemic and the global semiconductor shortage, black swan events seem to readily occur yearly. We do not see one significant disruption but rather a group of small or moderate disruptions that compound into something much more challenging.

To make the most of 2025 while avoiding its challenges, you need to partner with a global distributor that offers digital tools to help you make informed decisions and a sales team to source your components. Contact our experts today to begin preparing to make the most of 2025.

Source: Sourengine

https://www.sourcengine.com/blog/semiconductor-market-outlook-for-2025-predictions-and-trends-to-monitor?srsltid=AfmBOorIevnHiV_1VxpS1hvvZCwnp2VTNJh2-M3OHg4-bzZB3K68VID4

Leading Companies

Advanced Micro Devices Inc. (AMD)

AMD is the high performance and adaptive computing leader, powering the products and services that help solve the world’s most important challenges. Our technologies advance the future of the data center, embedded, gaming and PC markets.

Founded in 1969 as a Silicon Valley start-up, the AMD journey began with dozens of employees who were passionate about creating leading-edge semiconductor products. AMD has grown into a global company setting the standard for modern computing, with many important industry firsts and major technological achievements along the way.

https://www.amd.com/en

Advanced Micro Devices Inc. - AMD Reports First Quarter 2025 Financial Results – 6/5/2025

SANTA CLARA, Calif., May 06, 2025 (GLOBE NEWSWIRE) -- AMD (NASDAQ:AMD) today announced financial results for the first quarter of 2025. First quarter revenue was $7.4 billion, gross margin was 50%, operating income was $806 million, net income was $709 million and diluted earnings per share was $0.44. On a non-GAAP(*) basis, gross margin was 54%, operating income was $1.8 billion, net income was $1.6 billion and diluted earnings per share was $0.96.

“We delivered an outstanding start to 2025 as year-over-year growth accelerated for the fourth consecutive quarter driven by strength in our core businesses and expanding data center and AI momentum,” said Dr. Lisa Su, AMD chair and CEO. “Despite the dynamic macro and regulatory environment, our first quarter results and second quarter outlook highlight the strength of our differentiated product portfolio and consistent execution positioning us well for strong growth in 2025.”

“We grew first quarter revenue 36% year-over-year and delivered significant earnings leverage as our business gains scale,” said AMD EVP, CFO and Treasurer Jean Hu. “We continue to invest in R&D and go-to-market initiatives, positioning the company for long-term growth and value creation for our shareholders.”

GAAP Quarterly Financial Results

	Q1 2025	Q1 2024	Y/Y	Q4 2024	Q/Q
Revenue ($M)	$7,438	$5,473	Up 36%	$7,658	Down 3%
Gross profit ($M)	$3,736	$2,560	Up 46%	$3,882	Down 4%
Gross margin	50%	47%	Up 3 ppts	51%	Down 1 ppt
Operating expenses ($M)	$2,930	$2,524	Up 16%	$3,011	Down 3%
Operating income ($M)	$806	$36	Up 2,139%	$871	Down 7%
Operating margin	11%	1%	Up 10 ppts	11%	Flat
Net income ($M)	$709	$123	Up 476%	$482	Up 47%
Diluted earnings per share	$0.44	$0.07	Up 529%	$0.29	Up 52%

Non-GAAP(*) Quarterly Financial Results

	Q1 2025	Q1 2024	Y/Y	Q4 2024	Q/Q
Revenue ($M)	$7,438	$5,473	Up 36%	$7,658	Down 3%
Gross profit ($M)	$3,992	$2,861	Up 40%	$4,140	Down 4%
Gross margin	54%	52%	Up 2 ppts	54%	Flat
Operating expenses ($M)	$2,213	$1,728	Up 28%	$2,114	Up 5%
Operating income ($M)	$1,779	$1,133	Up 57%	$2,026	Down 12%
Operating margin	24%	21%	Up 3 ppts	26%	Down 2 ppts
Net income ($M)	$1,566	$1,013	Up 55%	$1,777	Down 12%
Diluted earnings per share	$0.96	$0.62	Up 55%	$1.09	Down 12%

Segment Summary

Data Center segment revenue in the quarter was $3.7 billion, up 57% year-over-year primarily driven by growth in AMD EPYC™ CPU and AMD Instinct™ GPU sales.
Client and Gaming segment revenue in the quarter was $2.9 billion, up 28% year-over-year. Client revenue was $2.3 billion, up 68% year-over-year primarily driven by strong demand for the latest “Zen 5” AMD Ryzen™ processors and a richer mix. Gaming revenue was $647 million, down 30% year-over-year primarily due to a decrease in semi-custom revenue.
Embedded segment revenue in the quarter was $823 million, down 3% year-over-year as demand in end markets remained mixed.

Recent PR Highlights

AMD closed the acquisition of ZT Systems, bringing together leadership systems and rack-level expertise with AMD GPU, CPU and networking silicon and open-source software to address the $500 billion data center AI accelerator opportunity in 2028.
AMD expanded strategic partnerships aimed at delivering AMD AI solutions and continued to invest in enhancing developer tools and support:
- AMD continues to deepen support for frontier AI models on AMD Instinct GPUs with AMD ROCm™ software, delivering day-zero support for the latest Meta AI Llama 4 models and Google Gemma 3 models .
- AMD delivers leadership inference performance on DeepSeek-R1 , leveraging continuous optimization of the ROCm software stack and the latest vLLM offerings.
- Core42, G42’s digital infrastructure company, announced it is broadly deploying AMD Instinct GPU technology to establish one of France's most powerful AI compute facilities.
- Dell Technologies announced the expansion of its AI for Telecom offering powered by AMD.
- The Commissariat à l'énergie atomique et aux énergies alternatives (CEA) of France and AMD announced a collaboration to advance technologies, component and system architectures to shape the future of AI computing.
- AMD, Jio Platforms Limited, Cisco and Nokia announced the formation of a new Open Telecom AI Platform that will offer AI-driven solutions to enhance efficiency, security and capabilities.
- AMD announced support of the latest UALink 1.0 specification, an open, industry-standard, low-latency, high-bandwidth interconnect for scale-up AI.
Leading hyperscalers continue expanding their deployments of AMD EPYC CPUs to power their internal infrastructure and public cloud offerings:
- Oracle Cloud Infrastructure announced the OCI Compute E6 shapes, enabling impressive cost to performance improvements over its previous generation.
- Google Cloud announced C4D and H4D virtual machines delivering leadership performance, scalability, and efficiency for demanding general purpose and HPC cloud workloads.
AMD is delivering incredible gaming and content creation experiences with the latest AMD Ryzen and Radeon™ products and software:
- New Radeon RX 9070 XT and RX 9070 graphics cards based on the AMD RDNA™ 4 graphics architecture offer gamers and creators a powerful blend of performance, visuals and value.
- AMD FidelityFX™ Super Resolution 4 is an AI-accelerated frame generation technology that delivers incredible performance and image quality for gamers on the latest Radeon RX graphics cards.
- AMD Ryzen 9 9950X3D and Ryzen 9 9900X3D processors leverage 2 nd Gen AMD 3D V-Cache ™ technology to deliver leadership performance and power efficiency.
AMD expanded its portfolio for embedded markets:
- New AMD EPYC Embedded 9005 Series processors deliver server-grade performance and energy efficiency combined with purpose-built features for networking, storage and industrial edge markets.
- AMD Versal™ AI Edge XQRVE2302 adaptive SoCs are now available, bringing AI inferencing to space in a small form factor.
- Napatech and Druid Software announced the availability of a high-performance, energy-efficient 5G core powered by the AMD Virtex™ UltraScale+™ XCVU5P FPGA.

Current Outlook

AMD’s outlook statements are based on current expectations. The following statements are forward-looking and actual results could differ materially depending on market conditions and the factors set forth under “Cautionary Statement” below.

For the second quarter of 2025, AMD expects revenue to be approximately $7.4 billion, plus or minus $300 million. Non-GAAP gross margin is estimated to be 43% inclusive of approximately $800 million in charges for inventory and related reserves due to the new export controls as previously disclosed in AMD’s Current Report on Form 8-K filed on April 16, 2025. Excluding this charge, non-GAAP gross margin would be approximately 54%.

AMD Teleconference

AMD will hold a conference call at 2:00 p.m. PT (5:00 p.m. ET) today to discuss its first quarter 2025 financial earnings results. AMD will provide a real-time audio broadcast of the teleconference on the Investor Relations page of its website at www.amd.com .

RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES

(in millions, except per share data) (Unaudited)

	Three Months Ended
	March 29, 2025			December 28, 2024			March 30, 2024
GAAP gross profit	$	3,736		$	3,882		$	2,560
GAAP gross margin		50	%		51	%		47	%
Stock-based compensation		5			6			6
Amortization of acquisition-related intangibles		251			252			230
Inventory loss at contract manufacturer (2)		—			—			65
Non-GAAP gross profit	$	3,992		$	4,140		$	2,861
Non-GAAP gross margin		54	%		54	%		52	%

GAAP operating expenses (4)	$	2,930		$	3,011		$	2,524
GAAP operating expenses/revenue %		39	%		39	%		46	%
Stock-based compensation		359			333			365
Amortization of acquisition-related intangibles		316			332			392
Acquisition-related and other costs (1)		42			46			39
Restructuring charges (3)		—			186			—
Non-GAAP operating expenses (4)	$	2,213		$	2,114		$	1,728
Non-GAAP operating expenses/revenue %		30	%		28	%		32	%

GAAP operating income	$	806		$	871		$	36
GAAP operating margin		11	%		11	%		1	%
Stock-based compensation		364			339			371
Amortization of acquisition-related intangibles		567			584			622
Acquisition-related and other costs (1)		42			46			39
Inventory loss at contract manufacturer (2)		—			—			65
Restructuring charges (3)		—			186			—
Non-GAAP operating income	$	1,779		$	2,026		$	1,133
Non-GAAP operating margin		24	%		26	%		21	%

	Three Months Ended
	March 29, 2025				December 28, 2024				March 30, 2024
GAAP net income / earnings per share	$	709	$	0.44	$	482	$	0.29	$	123	$	0.07
(Gains) losses on equity investments, net		2		—		—		—		3		—
Stock-based compensation		364		0.22		339		0.21		371		0.23
Equity income in investee		(7)		—		(12)		(0.01)		(7)		—
Amortization of acquisition-related intangibles		567		0.35		584		0.36		622		0.38
Acquisition-related and other costs (1)		42		0.03		46		0.03		39		0.02
Inventory loss at contract manufacturer (2)		—		—		—		—		65		0.04
Restructuring charges (3)		—		—		186		0.11		—		—
Income tax provision		(111)		(0.08)		152		0.10		(203)		(0.12)
Non-GAAP net income / earnings per share	$	1,566	$	0.96	$	1,777	$	1.09	$	1,013	$	0.62

(1) Acquisition-related and other costs primarily include transaction costs, purchase price fair value adjustments, certain compensation charges, contract termination costs and workforce rebalancing charges. (2) Inventory loss at contract manufacturer is related to an incident at a third-party contract manufacturing facility. (3) Restructuring charges are related to the 2024 Restructuring Plan which comprised of employee severance charges and non-cash asset impairments. (4) Effective first quarter of 2025, licensing gain amounts were reclassified against Marketing, general and administrative expenses as the amounts were immaterial.

About AMD

For more than 55 years AMD has driven innovation in high-performance computing, graphics and visualization technologies. AMD employees are focused on building leadership high-performance and adaptive products that push the boundaries of what is possible. Billions of people, leading Fortune 500 businesses and cutting-edge scientific research institutions around the world rely on AMD technology daily to improve how they live, work and play. For more information about how AMD is enabling today and inspiring tomorrow, visit the AMD (NASDAQ: AMD) website , blog , LinkedIn and X pages.

Cautionary Statement

This press release contains forward-looking statements concerning Advanced Micro Devices, Inc. (AMD) such as, the features, functionality, performance, availability, timing and expected benefits of future AMD products; AMD’s ability to deliver strong growth in 2025 based on AMD’s differentiated product portfolio and consistent execution; AMD’s ability to position itself for long-term growth and value creation; potential benefits of the acquisition of ZT Systems, including the data center AI accelerator opportunity in 2028; AMD’s expected second quarter 2025 financial outlook, including revenue and non-GAAP gross margin; and the expected impact of the new export licensing requirement on AMD, including on its revenues, which are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are commonly identified by words such as "would," "may," "expects," "believes," "plans," "intends," "projects" and other terms with similar meaning. Investors are cautioned that the forward-looking statements in this press release are based on current beliefs, assumptions and expectations, speak only as of the date of this press release and involve risks and uncertainties that could cause actual results to differ materially from current expectations. Such statements are subject to certain known and unknown risks and uncertainties, many of which are difficult to predict and generally beyond AMD’s control, that could cause actual results and other future events to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. Material factors that could cause actual results to differ materially from current expectations include, without limitation, the following: impact of government actions and regulations such as export regulations, tariffs and trade protection measures, and licensing requirements; Intel Corporation’s dominance of the microprocessor market and its aggressive business practices; Nvidia’s dominance in the graphics processing unit market and its aggressive business practices; competitive markets in which AMD’s products are sold; the cyclical nature of the semiconductor industry; market conditions of the industries in which AMD products are sold; AMD's ability to introduce products on a timely basis with expected features and performance levels; loss of a significant customer; economic and market uncertainty; quarterly and seasonal sales patterns; AMD's ability to adequately protect its technology or other intellectual property; unfavorable currency exchange rate fluctuations; ability of third party manufacturers to manufacture AMD's products on a timely basis in sufficient quantities and using competitive technologies; availability of essential equipment, materials, substrates or manufacturing processes; ability to achieve expected manufacturing yields for AMD’s products; AMD's ability to generate revenue from its semi-custom SoC products; potential security vulnerabilities; potential security incidents including IT outages, data loss, data breaches and cyberattacks; uncertainties involving the ordering and shipment of AMD’s products; AMD’s reliance on third-party intellectual property to design and introduce new products; AMD's reliance on third-party companies for design, manufacture and supply of motherboards, software, memory and other computer platform components; AMD's reliance on Microsoft and other software vendors' support to design and develop software to run on AMD’s products; AMD’s reliance on third-party distributors and add-in-board partners; impact of modification or interruption of AMD’s internal business processes and information systems; compatibility of AMD’s products with some or all industry-standard software and hardware; costs related to defective products; efficiency of AMD's supply chain; AMD's ability to rely on third party supply-chain logistics functions; AMD’s ability to effectively control sales of its products on the gray market; long-term impact of climate change on AMD’s business; AMD’s ability to realize its deferred tax assets; potential tax liabilities; current and future claims and litigation; impact of environmental laws, conflict minerals related provisions and other laws or regulations; evolving expectations from governments, investors, customers and other stakeholders regarding corporate responsibility matters; issues related to the responsible use of AI; restrictions imposed by agreements governing AMD’s notes, the guarantees of Xilinx’s notes, the revolving credit agreement and the ZT Systems credit agreement; impact of acquisitions, joint ventures and/or strategic investments on AMD’s business and AMD’s ability to integrate acquired businesses, including ZT Systems; AMD’s ability to sell the ZT Systems manufacturing business; impact of any impairment of the combined company’s assets; political, legal and economic risks and natural disasters; future impairments of technology license purchases; AMD’s ability to attract and retain qualified personnel; and AMD’s stock price volatility. Investors are urged to review in detail the risks and uncertainties in AMD’s Securities and Exchange Commission filings, including but not limited to AMD’s most recent reports on Forms 10-K and 10-Q.

(*) In this earnings press release, in addition to GAAP financial results, AMD has provided non-GAAP financial measures including non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating expenses, non-GAAP operating expenses/revenue%, non-GAAP operating income, non-GAAP operating margin, non-GAAP net income and non-GAAP diluted earnings per share. AMD uses a normalized tax rate in its computation of the non-GAAP income tax provision to provide better consistency across the reporting periods. For fiscal 2025, AMD used a non-GAAP tax rate of 13%, which excludes the tax impact of pre-tax non-GAAP adjustments. AMD also provided adjusted EBITDA, free cash flow and free cash flow margin as supplemental non-GAAP measures of its performance. These items are defined in the footnotes to the selected corporate data tables provided at the end of this earnings press release. AMD is providing these financial measures because it believes this non-GAAP presentation makes it easier for investors to compare its operating results for current and historical periods and also because AMD believes it assists investors in comparing AMD’s performance across reporting periods on a consistent basis by excluding items that it does not believe are indicative of its core operating performance and for the other reasons described in the footnotes to the selected data tables. The non-GAAP financial measures disclosed in this earnings press release should be viewed in addition to and not as a substitute for or superior to AMD’s reported results prepared in accordance with GAAP and should be read only in conjunction with AMD’s Consolidated Financial Statements prepared in accordance with GAAP. These non-GAAP financial measures referenced are reconciled to their most directly comparable GAAP financial measures in the data tables in this earnings press release. This earnings press release also contains forward-looking non-GAAP gross margin concerning AMD’s financial outlook, which is based on current expectations as of May 6, 2025, and assumptions and beliefs that involve numerous risks and uncertainties. Adjustments to arrive at the GAAP gross margin outlook typically include stock-based compensation, amortization of acquired intangible assets and acquisition-related and other costs. The timing and impact of such adjustments are dependent on future events that are typically uncertain or outside of AMD's control, therefore, a reconciliation to equivalent GAAP measures is not practicable at this time. AMD undertakes no intent or obligation to publicly update or revise its outlook statements as a result of new information, future events or otherwise, except as may be required by law.

For the full report see:

https://www.amd.com/en/newsroom/press-releases/2025-5-6-amd-reports-first-quarter-2025-financial-results.html

Amkor Technology Inc.

Amkor Technology, Inc. is the world's largest US headquartered OSAT (outsourced semiconductor assembly and test) service provider. Since its founding in 1968, Amkor has pioneered the outsourcing of IC packaging and test services and is a strategic manufacturing partner for the world's leading semiconductor companies, foundries, and electronics OEMs. Amkor provides turnkey manufacturing services for the communication, automotive and industrial, computing, and consumer industries, including but not limited to smartphones, electric vehicles, data centers, artificial intelligence and wearables. Amkor's operational base includes production facilities, research and development centers and sales and support offices located in key electronics manufacturing regions in Asia, Europe and the United States. For more information visit amkor.com.

https://ir.amkor.com/

Amkor Technology Inc. - Amkor Technology Reports Financial Results for the First Quarter 2025 – 28/4/2025

TEMPE, Ariz.--(BUSINESS WIRE)--Apr. 28, 2025-- Amkor Technology, Inc. (Nasdaq: AMKR), a leading provider of semiconductor packaging and test services, today announced financial results for the first quarter ended March 31, 2025.

First Quarter 2025 Highlights

Net sales $1.32 billion
Gross profit $158 million, operating income $32 million
Net income $21 million, earnings per diluted share $0.09
EBITDA $197 million

“Amkor delivered first quarter results in line with expectations, with revenue of $1.32 billion and EPS of $0.09,” said Giel Rutten, Amkor’s president and chief executive officer. “We are closely monitoring the evolving landscape with tariffs and trade regulations and potential impacts on our customers’ supply chains. Our diversified global footprint and long-standing partnerships allow us to help our customers work through complexity and uncertainty. Within this dynamic environment, our focus remains on staying agile and delivering value by executing on our long-term strategy.”

Quarterly Financial Results

($ in millions, except per share data)	Q1 2025	Q4 2024	Q1 2024
Net sales	$1,322	$1,629	$1,366
Gross margin	11.9%	15.1%	14.8%
Operating income	$32	$134	$73
Operating income margin	2.4%	8.3%	5.4%
Net income attributable to Amkor	$21	$106	$59
Earnings per diluted share	$0.09	$0.43	$0.24
EBITDA (1)	$197	$302	$233

EBITDA is a non-GAAP measure. The reconciliation to the comparable GAAP measure is included below under “Selected Operating Data.”

At March 31, 2025, total cash and short-term investments was $1.6 billion, and total debt was $1.1 billion.

The company paid a quarterly dividend of $0.08269 per share on April 2, 2025. The declaration and payment of future dividends, as well as any record and payment dates, are subject to the approval of the Board of Directors.

Business Outlook

The following information presents Amkor’s guidance for the second quarter 2025 (unless otherwise noted):

Net sales of $1.375 billion to $1.475 billion
Gross margin of 11.5% to 13.5%
Net income of $17 million to $57 million, or $0.07 to $0.23 per diluted share
Full year 2025 capital expenditures of approximately $850 million

Conference Call Information

Amkor will conduct a conference call on Monday, April 28, 2025, at 5:00 p.m. Eastern Time. This call may include material information not included in this press release. To access the live audio webcast and the accompanying slide presentation, visit the Investor Relations section of Amkor’s website, located at ir.amkor.com. The live call can also be accessed by dialing 1-877-407-4019 or 1-201-689-8337.

About Amkor Technology, Inc.

Amkor Technology, Inc. is the world's largest U.S. headquartered OSAT (outsourced semiconductor assembly and test) service provider. Since its founding in 1968, Amkor has pioneered the outsourcing of IC packaging and test services and is a strategic manufacturing partner for the world's leading semiconductor companies, foundries, and electronics OEMs. Amkor provides turnkey manufacturing services for the communication, computing, automotive and industrial and consumer markets, including smartphones, data centers, artificial intelligence, electric vehicles and wearables. Amkor's operational base includes production facilities, research and development centers, and sales and support offices located in key electronics manufacturing regions in Asia, Europe and the United States. For more information visit amkor.com.

AMKOR TECHNOLOGY, INC.

Selected Operating Data



	Q1 2025			Q4 2024			Q1 2024
Net Sales Data:
Net sales (in millions):
Advanced products (1)	$	1,064		$	1,357		$	1,070
Mainstream products (2)		258			272			296
Total net sales	$	1,322		$	1,629		$	1,366

Packaging services		88	%		88	%		87	%
Test services		12	%		12	%		13	%

Net sales from top ten customers		71	%		73	%		70	%

End Market Distribution Data:
Communications (smartphones, tablets)		40	%		44	%		47	%
Computing (data center, infrastructure, PC/laptop, storage)		22	%		21	%		17	%
Automotive, industrial and other (ADAS, electrification, infotainment, safety)		21	%		17	%		22	%
Consumer (AR & gaming, connected home, home electronics, wearables)		17	%		18	%		14	%
Total		100	%		100	%		100	%

Gross Margin Data:
Net sales		100.0	%		100.0	%		100.0	%
Cost of sales:
Materials		52.4	%		54.8	%		51.9	%
Labor		12.0	%		9.9	%		11.2	%
Depreciation		10.6	%		8.4	%		9.5	%
Other manufacturing		13.1	%		11.8	%		12.6	%
Gross margin		11.9	%		15.1	%		14.8	%

Advanced products include flip chip, memory and wafer-level processing and related test services.
Mainstream products include all other wirebond packaging and related test services.

AMKOR TECHNOLOGY, INC.

Selected Operating Data

In this press release, we refer to EBITDA, which is not defined by U.S. GAAP. We define EBITDA as net income before interest expense, income tax expense and depreciation and amortization. We believe EBITDA to be relevant and useful information to our investors because it provides additional information in assessing our financial operating results. Our management uses EBITDA in evaluating our operating performance, and our ability to service debt, fund capital expenditures and pay dividends. However, EBITDA has certain limitations in that it does not reflect the impact of certain expenses on our consolidated statements of income, including interest expense, which is a necessary element of our costs because we have borrowed money in order to finance our operations, income tax expense, which is a necessary element of our costs because taxes are imposed by law, and depreciation and amortization, which is a necessary element of our costs because we use capital assets to generate income. EBITDA should be considered in addition to, and not as a substitute for, or superior to, operating income, net income or other measures of financial performance prepared in accordance with U.S. GAAP. Furthermore, our definition of EBITDA may not be comparable to similarly titled measures reported by other companies. Below is our reconciliation of EBITDA to U.S. GAAP net income.

Non-GAAP Financial Measure Reconciliation:
(in millions)	Q1 2025		Q4 2024		Q1 2024
EBITDA Data:
Net income	$	22	$	106	$	60
Plus: Interest expense		17		17		16
Plus: Income tax expense		4		30		12
Plus: Depreciation & amortization		154		149		145
EBITDA	$	197	$	302	$	233

AMKOR TECHNOLOGY, INC.

CONSOLIDATED STATEMENTS OF INCOME

(In thousands, except per share data)

(Unaudited)

For the Three Months Ended March 31,
	2025		2024
Net sales	$	1,321,575	$	1,365,511
Cost of sales		1,163,992		1,163,868
Gross profit		157,583		201,643
Selling, general and administrative		80,408		90,346
Research and development		45,652		38,171
Total operating expenses		126,060		128,517
Operating income		31,523		73,126
Interest expense		16,809		16,439
Other (income) expense, net		(11,075)		(15,295)
Total other expense, net		5,734		1,144
Income before taxes		25,789		71,982
Income tax expense		3,936		12,196
Net income		21,853		59,786
Net income attributable to non-controlling interests		(725)		(889)
Net income attributable to Amkor	$	21,128	$	58,897

Net income attributable to Amkor per common share:
Basic	$	0.09	$	0.24
Diluted	$	0.09	$	0.24

Shares used in computing per common share amounts:
Basic		246,854		246,008
Diluted		247,845		247,614

AMKOR TECHNOLOGY, INC.

CONSOLIDATED BALANCE SHEETS

(In thousands)

(Unaudited)


	March 31, 2025		December 31, 2024
ASSETS
Current assets:
Cash and cash equivalents	$	1,057,560	$	1,133,553
Short-term investments		505,181		512,984
Accounts receivable, net of allowances		1,052,873		1,055,013
Inventories		326,185		310,910
Other current assets		49,325		61,012
Total current assets		2,991,124		3,073,472
Property, plant and equipment, net		3,641,936		3,576,148
Operating lease right of use assets		104,160		109,730
Goodwill		18,813		17,947
Restricted cash		768		759
Other assets		164,440		166,272
Total assets	$	6,921,241	$	6,944,328
LIABILITIES AND EQUITY
Current liabilities:
Short-term borrowings and current portion of long-term debt	$	236,459	$	236,029
Trade accounts payable		608,464		712,887
Capital expenditures payable		250,718		123,195
Short-term operating lease liability		25,604		26,827
Accrued expenses		332,731		356,337
Total current liabilities		1,453,976		1,455,275
Long-term debt		912,863		923,431
Pension and severance obligations		73,421		70,594
Long-term operating lease liabilities		54,535		57,983
Other non-current liabilities		235,856		253,880
Total liabilities		2,730,651		2,761,163

Stockholders’ equity:
Preferred stock		—		—
Common stock		293		293
Additional paid-in capital		2,036,608		2,031,643
Retained earnings		2,335,830		2,335,132
Accumulated other comprehensive income (loss)		10,031		7,510
Treasury stock		(226,352)		(225,033)
Total Amkor stockholders’ equity		4,156,410		4,149,545
Non-controlling interests in subsidiaries		34,180		33,620
Total equity		4,190,590		4,183,165
Total liabilities and equity	$	6,921,241	$	6,944,328

AMKOR TECHNOLOGY, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)

(Unaudited)


	For the Three Months Ended March 31,
	2025		2024
Cash flows from operating activities:
Net income	$	21,853	$	59,786
Depreciation and amortization		153,821		144,925
Other operating activities and non-cash items		5,967		14,100
Changes in assets and liabilities		(157,492)		(56,499)
Net cash provided by operating activities		24,149		162,312
Cash flows from investing activities:
Payments for property, plant and equipment		(79,897)		(96,169)
Proceeds from sale of property, plant and equipment		4,209		3,439
Proceeds from foreign exchange forward contracts		16,674		740
Payments for foreign exchange forward contracts		(15,992)		(24,596)
Payments for short-term investments		(169,720)		(111,760)
Proceeds from sale of short-term investments		32,345		16,014
Proceeds from maturities of short-term investments		147,825		121,684
Other investing activities		1,502		4,545
Net cash used in investing activities		(63,054)		(86,103)
Cash flows from financing activities:
Proceeds from short-term debt		—		5,012
Payments of short-term debt		—		(5,669)
Payments of long-term debt		(25,493)		(29,100)
Payments of finance lease obligations		(15,659)		(19,684)
Payments of dividends		—		(19,383)
Other financing activities		(1,099)		(1,053)
Net cash used in financing activities		(42,251)		(69,877)
Effect of exchange rate fluctuations on cash, cash equivalents and restricted cash		5,172		(8,164)
Net decrease in cash, cash equivalents and restricted cash		(75,984)		(1,832)
Cash, cash equivalents and restricted cash, beginning of period		1,134,312		1,120,617
Cash, cash equivalents and restricted cash, end of period	$	1,058,328	$	1,118,785

Forward-Looking Statement Disclaimer

This press release contains forward-looking statements within the meaning of the federal securities laws. You are cautioned not to place undue reliance on forward-looking statements, which are often characterized by terminology such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “potential,” “continue” or “intend,” by the negative of these terms or other comparable terminology or by discussions of strategy, plans or intentions. All forward-looking statements in this press release are made based on our current expectations, forecasts, estimates and assumptions. Because such statements include risks and uncertainties, actual results may differ materially from those anticipated in such forward-looking statements as a result of various factors, including, but not limited to, the following:

dependence on the cyclical and volatile semiconductor industry and vulnerability to industry downturns and declines in global economic and financial conditions;
changes in costs, quality, availability and delivery times of raw materials, components and equipment;
fluctuations in operating results and cash flows;
competition with established competitors in the packaging and test business, the internal capabilities of integrated device manufacturers and new competitors, including foundries and contract manufacturers;
our substantial investments in equipment and facilities to support the demand of our customers;
warranty claims, product return and liability risks, and the risk of negative publicity if our products fail, as well as the risk of litigation incident to our business;
difficulty achieving the relatively high-capacity utilization rates necessary to realize satisfactory gross margins given our high percentage of fixed costs;
our absence of backlog and the short-term nature of our customers’ commitments;
the historical downward pressure on the prices of our packaging and test services;
fluctuations in our manufacturing yields;
a downturn or lower sales to customers in the automotive industry;
dependence on key customers or concentration of customers in certain end markets, such as mobile communications and automotive;
difficulty funding our liquidity needs;
challenges with integrating diverse operations;
dependence on international factories and operations and risks relating to trade restrictions and regional conflict, including restrictive trade barriers, export controls, tariffs, customs and duties;
our ability to develop new proprietary technology, protect our proprietary technology, operate without infringing the proprietary rights of others and implement new technologies;
our continuing development and implementation of changes to, and maintenance and security of, our information technology systems;
restrictive covenants in the indentures and agreements governing our current and future indebtedness;
our substantial indebtedness;
fluctuations in interest rates and changes in credit risk;
the ability of certain of our stockholders to effectively determine or substantially influence the outcome of matters requiring stockholder approval;
the possibility that we may decrease or suspend our quarterly dividend;
difficulty attracting, retaining or replacing qualified personnel;
maintaining an effective system of internal controls;
any changes in tax laws, taxing authorities not agreeing with our interpretation of applicable tax laws, including whether we continue to qualify for conditional reduced tax rates, or any requirements to establish or adjust valuation allowances on deferred tax assets;
environmental, health and safety liabilities and expenditures;
conditions and obligations in connection with the receipt of government awards and incentives; and
natural disasters and other calamities, health conditions or pandemics, political instability, hostilities or other disruptions.

Other important risk factors that could affect the outcome of the events set forth in these statements and that could affect our operating results and financial condition are discussed in the company’s Annual Report on Form 10-K for the year ended December 31, 2024 (the “Form 10-K”) and from time to time in our other reports filed with or furnished to the Securities and Exchange Commission (“SEC”). You should carefully consider the trends, risks and uncertainties described in this press release, the Form 10-K and other reports filed with or furnished to the SEC before making any investment decision with respect to our securities. If any of these trends, risks or uncertainties continues or occurs, our business, financial condition or operating results could be materially and adversely affected, the trading prices of our securities could decline, and you could lose part or all of your investment. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by this cautionary statement. We assume no obligation to review or update any forward-looking statements to reflect events or circumstances occurring after the date of this press release except as may be required by applicable law.

https://ir.amkor.com/news-releases/news-release-details/amkor-technology-reports-financial-results-first-quarter-2025

Analog Devices, Inc.

Analog Devices, Inc. (NASDAQ: ADI ) is a global semiconductor leader that bridges the physical and digital worlds to enable breakthroughs at the Intelligent Edge. ADI combines analog, digital, and software technologies into solutions that help drive advancements in digitized factories, mobility, and digital healthcare, combat climate change, and reliably connect humans and the world. With revenue of more than $9 billion in FY24 and approximately 24,000 people globally, ADI ensures today's innovators stay Ahead of What's Possible. Learn more at www.analog.com and on LinkedIn and Twitter (X) .

https://www.analog.com/en/index.html

Analog Devices, Inc. - Analog Devices Reports Fourth Quarter and Fiscal 2024 Financial Results – 26/11/2024

Fourth quarter revenue of more than $2.4 billion, above the midpoint of guidance with sequential growth across all end markets
Fiscal 2024 revenue of more than $9.4 billion
Fiscal 2024 operating cash flow of $3.9 billion and free cash flow of $3.1 billion
Returned more than $2.4 billion to shareholders in fiscal 2024, including $0.6 billion of share repurchases and $1.8 billion of dividends

Analog Devices, Inc. (NASDAQ: ADI), a global semiconductor leader, today announced financial results for its fiscal fourth quarter and fiscal year 2024, which ended November 2, 2024.

“ADI’s revenue, profitability, and earnings per share all finished above our guided midpoint, underscoring continued business momentum and solid execution,” said Vincent Roche, CEO and Chair. “While unprecedented customer inventory headwinds drove a historic revenue decline during fiscal 2024, we maintained operating margins north of 40%, which is a testament to our business model’s resilience. We also continued to make strategic, long-term investments across engineering, manufacturing, and the end-to-end customer experience. As such, we enter 2025 as an even stronger enterprise, giving me the utmost confidence in our ability to drive increased value for customers and shareholders over the long term.”

“After a brief decline in overall bookings during our third quarter, orders picked up steadily throughout the fourth quarter, particularly in the Automotive end market. While macro uncertainty continues to limit the pace of our recovery, we remain cautiously optimistic for a strong growth year in fiscal 2025,” said Richard Puccio, CFO.

‌

Performance for the Fourth Quarter and Fiscal Year 2024

Results Summary(1)

(in millions, except per-share amounts and percentages)

	Three Months Ended			Twelve Months Ended
	Nov. 2, 2024	Oct. 28, 2023	Change	Nov. 2, 2024	Oct. 28, 2023	Change
Revenue	$ 2,443	$ 2,716	(10)%	$ 9,427	$ 12,306	(23)%
Gross margin	$ 1,416	$ 1,647	(14)%	$ 5,381	$ 7,877	(32)%
Gross margin percentage	58.0 %	60.6 %	(260 bps)	57.1 %	64.0 %	(690 bps)
Operating income	$ 569	$ 634	(10)%	$ 2,033	$ 3,823	(47)%
Operating margin	23.3 %	23.4 %	(10 bps)	21.6 %	31.1 %	(950 bps)
Diluted earnings per share	$ 0.96	$ 1.00	(4)%	$ 3.28	$ 6.55	(50)%
Adjusted Results(2)
Adjusted gross margin	$ 1,660	$ 1,907	(13)%	$ 6,404	$ 8,925	(28)%
Adjusted gross margin percentage	67.9 %	70.2 %	(230 bps)	67.9 %	72.5 %	(460 bps)
Adjusted operating income	$ 1,005	$ 1,215	(17)%	$ 3,853	$ 6,014	(36)%
Adjusted operating margin	41.1 %	44.7 %	(360 bps)	40.9 %	48.9 %	(800 bps)
Adjusted diluted earnings per share	$ 1.67	$ 2.01	(17)%	$ 6.38	$ 10.09	(37)%

	Three Months Ended		Trailing Twelve Months
Cash Generation	Nov. 2, 2024		Nov. 2, 2024
Net cash provided by operating activities	$ 1,051	$	3,853
% of revenue	43 %		41 %
Capital expenditures	$ (165)	$	(730)
Free cash flow(2)	$ 885	$	3,122
% of revenue	36 %		33 %

	Three Months Ended		Trailing Twelve Months
Cash Return	Nov. 2, 2024		Nov. 2, 2024
Dividend paid	$ (457)	$	(1,795)
Stock repurchases	(95)		(616)
Total cash returned	$ (552)	$	(2,411)

The sum and/or computation of the individual amounts may not equal the total due to rounding.
Reconciliations of non-GAAP financial measures to their most directly comparable GAAP financial measures are provided in the financial tables included in this press release. See also the "Non-GAAP Financial Information" section for additional information.

Outlook for the First Quarter of Fiscal Year 2025

For the first quarter of fiscal 2025, we are forecasting revenue of $2.35 billion, +/- $100 million. At the midpoint of this revenue outlook, we expect reported operating margin of approximately 22.0%, +/- 130 bps, and adjusted operating margin of approximately 40.0%, +/- 100 bps. We are planning for reported EPS to be $0.80, +/- $0.10, and adjusted EPS to be $1.53, +/- $0.10.

Our first quarter fiscal 2025 outlook is based on current expectations and actual results may differ materially as a result of, among other things, the important factors discussed at the end of this release. These statements supersede all prior statements regarding our business outlook set forth in prior ADI news releases, and ADI disclaims any obligation to update these forward-looking statements.

The adjusted results and adjusted anticipated results above are financial measures presented on a non-GAAP basis. Reconciliations of these non-GAAP financial measures to their most directly comparable GAAP financial measures are provided in the financial tables included in this release. See also the “Non-GAAP Financial Information” section for additional information.

Dividend Payment

The ADI Board of Directors has declared a quarterly cash dividend of $0.92 per outstanding share of common stock. The dividend will be paid on December 20, 2024 to all shareholders of record at the close of business on December 9, 2024.

Non-GAAP Financial Information

This release includes non-GAAP financial measures that are not in accordance with, nor an alternative to, U.S. generally accepted accounting principles (GAAP) and may be different from non-GAAP measures presented by other companies. In addition, these non-GAAP measures are not based on any comprehensive set of accounting rules or principles. These non-GAAP measures have material limitations in that they do not reflect all of the amounts associated with the Company’s results of operations as determined in accordance with GAAP and should not be considered in isolation from, or as a substitute for, the Company’s financial results presented in accordance with GAAP. The Company’s use of non-GAAP measures, and the underlying methodology when including or excluding certain items, is not necessarily an indication of the results of operations that may be expected in the future, or that the Company will not, in fact, record such items in future periods. You are cautioned not to place undue reliance on these non-GAAP measures. Reconciliations of these non-GAAP financial measures to their most directly comparable GAAP financial measures are provided in the financial tables included in this release.

Management uses non-GAAP measures internally to evaluate the Company’s operating performance from continuing operations against past periods and to budget and allocate resources in future periods. These non-GAAP measures also assist management in evaluating the Company’s core business and trends across different reporting periods on a consistent basis. Management also uses these non-GAAP measures as primary performance measurements when communicating with analysts and investors regarding the Company’s earnings results and outlook and believes that the presentation of these non-GAAP measures is useful to investors because it provides investors with the operating results that management uses to manage the Company and enables investors and analysts to evaluate the Company’s core business. Management also believes that free cash flow, a non-GAAP liquidity measure, is useful both internally and to investors because it provides information about the amount of cash generated after capital expenditures that is then available to repay debt obligations, make investments and fund acquisitions, and for certain other activities.

The non-GAAP financial measures referenced by ADI in this release include: adjusted gross margin, adjusted gross margin percentage, adjusted operating expenses, adjusted operating expenses percentage, adjusted operating income, adjusted operating margin, adjusted nonoperating expense (income), adjusted income before income taxes, adjusted provision for income taxes, adjusted tax rate, adjusted diluted earnings per share (EPS), free cash flow, and free cash flow revenue percentage.

Adjusted gross margin is defined as gross margin, determined in accordance with GAAP, excluding certain acquisition-related expenses1 which are described further below. Adjusted gross margin percentage represents adjusted gross margin divided by revenue.

Adjusted operating expenses is defined as operating expenses, determined in accordance with GAAP, excluding: certain acquisition-related expenses1, acquisition related transaction costs2, and special charges, net3, which are described further below. Adjusted operating expenses percentage represents adjusted operating expenses divided by revenue.

Adjusted operating income is defined as operating income, determined in accordance with GAAP, excluding: acquisition-related expenses1, acquisition related transaction costs2, and special charges, net3, which are described further below. Adjusted operating margin represents adjusted operating income divided by revenue.

Adjusted nonoperating expense (income) is defined as nonoperating expense (income), determined in accordance with GAAP, excluding: certain acquisition-related expenses1, which is described further below.

Adjusted income before income taxes is defined as income before income taxes, determined in accordance with GAAP, excluding: acquisition-related expenses1, acquisition related transaction costs2, and special charges, net3, which are described further below.

Adjusted provision for income taxes is defined as provision for income taxes, determined in accordance with GAAP, excluding tax related items4, which are described further below. Adjusted tax rate represents adjusted provision for income taxes divided by adjusted income before income taxes.

Adjusted diluted EPS is defined as diluted EPS, determined in accordance with GAAP, excluding: acquisition-related expenses1, acquisition related transaction costs2, special charges, net3, and tax related items4, which are described further below.

Free cash flow is defined as net cash provided by operating activities, determined in accordance with GAAP, less additions to property, plant and equipment, net. Free cash flow revenue percentage represents free cash flow divided by revenue.

Acquisition-Related Expenses: Expenses incurred as a result of current and prior period acquisitions and primarily include expenses associated with the fair value adjustments to debt, inventory, property, plant and equipment and amortization of acquisition related intangibles, which include acquired intangibles such as purchased technology and customer relationships. Expenses also include fair value adjustments associated with the replacement of share-based awards related to the Maxim Integrated Products, Inc. (Maxim) acquisition. We excluded these costs from our non-GAAP measures because they relate to specific transactions and are not reflective of our ongoing financial performance.
Acquisition Related Transaction Costs: Costs directly related to the Maxim acquisition, including legal, accounting and other professional fees as well as integration-related costs. We excluded these costs from our non-GAAP measures because they relate to a specific transaction and are not reflective of our ongoing financial performance.
Special Charges, net Expenses, net, incurred as part of the integration of Maxim, in connection with facility closures, consolidation of manufacturing facilities, severance, other accelerated stock-based compensation expense and other cost reduction efforts or reorganizational initiatives. We excluded these expenses from our non-GAAP measures because apart from ongoing expense savings as a result of such items, these expenses have no direct correlation to the operation of our business in the future.
Tax-Related Items: Income tax effect of the non-GAAP items discussed above, an income tax benefit from a discrete tax item related to a federal corporate income tax relief claim and certain other income tax benefits associated with prior periods. We excluded the income tax effect of these tax related items from our non-GAAP measures because they are not associated with the tax expense on our current operating results.

About Analog Devices, Inc.

Forward Looking Statements

This press release contains forward-looking statements, which address a variety of subjects including, for example, our statements regarding our 2025 financial performance; expected revenue, operating margin, nonoperating expenses, tax rate, earnings per share, free cash flow returns, and other financial results; customer inventory rationalization; economic uncertainty, geopolitical conditions, demand, and other market conditions, business cycles, and supply chains; capital expenditures and investments, including those related to digital, software, cybersecurity, and artificial intelligence; expected market and technology trends; market size, market share gains, market position, and growth opportunities; our opportunity pipeline; expected product solutions, offerings, technologies, capabilities, and applications, including those that may incorporate, or be based upon, software or artificial intelligence technology; the value and importance of, and other benefits related to, our product solutions, offerings, and technologies to our customers, including those that may incorporate, or be based upon, software or artificial intelligence technology; our manufacturing capacity and investments to enhance resiliency; expected tax credits; future dividends and share repurchases; expected revenue synergies; and other future events. Statements that are not historical facts, including statements about our beliefs, plans and expectations, are forward-looking statements. Such statements are based on our current expectations and are subject to a number of factors and uncertainties, which could cause actual results to differ materially from those described in the forward-looking statements. The following important factors and uncertainties, among others, could cause actual results to differ materially from those described in these forward-looking statements: economic, political, legal and regulatory uncertainty or conflicts; changes in demand for semiconductor products; manufacturing delays, product and raw materials availability and supply chain disruptions; products that may be diverted from our authorized distribution channels; changes in export classifications, import and export regulations or duties and tariffs; our development of technologies and research and development investments; our future liquidity, capital needs and capital expenditures; our ability to compete successfully in the markets in which we operate; our ability to recruit and retain key personnel; risks related to acquisitions or other strategic transactions; security breaches or other cyber incidents; risks related to the use of artificial intelligence in our business operations, products, and services; adverse results in litigation matters; reputational damage; changes in our estimates of our expected tax rates based on current tax law; risks related to our indebtedness; the discretion of our Board of Directors to declare dividends and our ability to pay dividends in the future; factors impacting our ability to repurchase shares; and uncertainty as to the long-term value of our common stock. For additional information about factors that could cause actual results to differ materially from those described in the forward-looking statements, please refer to our filings with the Securities and Exchange Commission, including the risk factors contained in our most recent Annual Report on Form 10-K. Forward-looking statements represent management’s current expectations and are inherently uncertain. Except as required by law, we do not undertake any obligation to update forward-looking statements made by us to reflect subsequent events or circumstances.

Analog Devices and the Analog Devices logo are registered trademarks or trademarks of Analog Devices, Inc. All other trademarks mentioned in this document are the property of their respective owners.

https://www.analog.com/en/newsroom/press-releases/2024/11-26-24-adi-reports-4th-qtr-and-fiscal-2024-financial-results.html

Applied Materials, Inc.

Applied Materials, Inc. (Nasdaq: AMAT) is the leader in materials engineering solutions used to produce virtually every new chip and advanced display in the world. For more than 55 years, our innovations have improved the lives of billions of people around the globe who may never know us by name, but who rely on us every day as they interact with technology.

The world’s brightest minds—visionaries, engineers, scientists—bring their expertise in materials engineering and come together at Applied with a collection of diverse opinions, experiences and backgrounds to Make Possible better ideas and breakthrough innovations.

https://www.appliedmaterials.com/

Applied Materials - Applied Materials Announces Second Quarter 2025 Results – 15/5/2025

Revenue $7.10 billion, up 7 percent year over year
GAAP gross margin 49.1 percent and non-GAAP gross margin 49.2 percent
GAAP operating margin 30.5 percent and non-GAAP operating margin 30.7 percent
Record GAAP EPS $2.63 and record non-GAAP EPS $2.39, up 28 percent and 14 percent year over year, respectively
Generated $1.57 billion in cash from operations and distributed $2.00 billion to shareholders including $1.67 billion in share repurchases and $325 million in dividends

SANTA CLARA, Calif., May 15, 2025 (GLOBE NEWSWIRE) -- Applied Materials, Inc. (NASDAQ: AMAT) today reported results for its second quarter ended Apr. 27, 2025.

“Applied Materials’ broad capabilities and connected product portfolio are driving strong results in 2025 amidst a highly dynamic macro environment,” said Gary Dickerson, President and CEO. “High-performance, energy-efficient AI computing remains the dominant driver of semiconductor innovation, and Applied is working closely with our customers and partners to accelerate the industry’s roadmap. We are very well positioned at major technology inflections in fast-growing areas of the market, which supports our multi-year growth trajectory.”

“We delivered strong performance in our second fiscal quarter with seven percent year-over-year revenue growth, record earnings per share and shareholder distributions of nearly $2 billion,” said Brice Hill, Senior Vice President and CFO. “Despite the dynamic economic and trade environment, we have not seen significant changes to customer demand and are well-equipped to navigate evolving conditions with our robust global supply chain and diversified manufacturing footprint.”

Results Summary

	Q2 FY2025			Q2 FY2024			Change
	(In millions, except per share amounts and percentages)
Net revenue	$	7,100		$	6,646		7%
Gross margin		49.1	%		47.4	%	1.7 points
Operating margin		30.5	%		28.8	%	1.7 points
Net income	$	2,137		$	1,722		24%
Diluted earnings per share	$	2.63		$	2.06		28%
Non-GAAP Results
Non-GAAP gross margin		49.2	%		47.5	%	1.7 points
Non-GAAP operating margin		30.7	%		29.0	%	1.7 points
Non-GAAP net income	$	1,940		$	1,744		11%
Non-GAAP diluted EPS	$	2.39		$	2.09		14%
Non-GAAP free cash flow	$	1,061		$	1,135		(7)%

A reconciliation of the GAAP and non-GAAP results is provided in the financial tables included in this release. See also “Use of Non-GAAP Financial Measures” section.

Business Outlook

Applied’s total net revenue, non-GAAP gross margin and non-GAAP diluted EPS for the third quarter of fiscal 2025 are expected to be approximately as follows:

	Q3 FY2025
(In millions, except percentage and per share amounts)
Total net revenue	$	7,200		+/-	$	500
Non-GAAP gross margin		48.3	%
Non-GAAP diluted EPS	$	2.35		+/-	$	0.20

This outlook for non-GAAP diluted EPS excludes known charges related to completed acquisitions of $0.01 per share, and includes a net income tax benefit related to intra-entity intangible asset transfers of $0.04 per share, but does not reflect any items that are unknown at this time, such as any additional charges related to acquisitions or other non-operational or unusual items, as well as other tax-related items, which we are not able to predict without unreasonable efforts due to their inherent uncertainty.

Second Quarter Reportable Segment Information

Semiconductor Systems	Q2 FY2025			Q2 FY2024
(in millions, except percentages)
Net revenue	$	5,255		$	4,901
Foundry, logic and other		65	%		65	%
DRAM		27	%		32	%
Flash memory		8	%		3	%
Operating income	$	1,900		$	1,701
Operating margin		36.2	%		34.7	%
Non-GAAP Results
Non-GAAP operating income	$	1,911		$	1,711
Non-GAAP operating margin		36.4	%		34.9	%

Applied Global Services	Q2 FY2025			Q2 FY2024
(in millions, except percentages)
Net revenue	$	1,566		$	1,530
Operating income	$	446		$	436
Operating margin		28.5	%		28.5	%
Non-GAAP Results
Non-GAAP operating income	$	446		$	436
Non-GAAP operating margin		28.5	%		28.5	%

Display	Q2 FY2025			Q2 FY2024
(in millions, except percentages)
Net revenue	$	259		$	179
Operating income	$	68		$	5
Operating margin		26.3	%		2.8	%
Non-GAAP Results
Non-GAAP operating income	$	68		$	5
Non-GAAP operating margin		26.3	%		2.8	%

Corporate and Other	Q2 FY2025		Q2 FY2024
(in millions)
Unallocated net revenue	$	20	$	36
Unallocated cost of products sold and expenses		(265)		(266)
Total	$	(245)	$	(230)

Use of Non-GAAP Financial Measures

Applied provides investors with certain non-GAAP financial measures, which are adjusted for the impact of certain costs, expenses, gains and losses, including certain items related to mergers and acquisitions; restructuring and severance charges and any associated adjustments; impairments of assets; gain or loss, dividends and impairments on strategic investments; certain income tax items and other discrete adjustments. On a non-GAAP basis, the tax effect related to share-based compensation is recognized ratably over the fiscal year. Reconciliations of these non-GAAP measures to the most directly comparable financial measures calculated and presented in accordance with GAAP are provided in the financial tables included in this release.

Management uses these non-GAAP financial measures to evaluate the company’s operating and financial performance and for planning purposes, and as performance measures in its executive compensation program. Applied believes these measures enhance an overall understanding of its performance and investors’ ability to review the company’s business from the same perspective as the company’s management, and facilitate comparisons of this period’s results with prior periods on a consistent basis by excluding items that management does not believe are indicative of Applied's ongoing operating performance. There are limitations in using non-GAAP financial measures because the non-GAAP financial measures are not prepared in accordance with generally accepted accounting principles, may be different from non-GAAP financial measures used by other companies, and may exclude certain items that may have a material impact upon our reported financial results. The presentation of this additional information is not meant to be considered in isolation or as a substitute for the directly comparable financial measures prepared in accordance with GAAP.

Webcast Information

Applied Materials will discuss these results during an earnings call that begins at 1:30 p.m. Pacific Time today. A live webcast and related slide presentation will be available at https://ir.appliedmaterials.com . A replay will be available on the website beginning at 5:00 p.m. Pacific Time today.

Forward-Looking Statements

This press release contains forward-looking statements, including those regarding anticipated growth and trends in our businesses and markets, industry outlooks and demand drivers, technology transitions, our business and financial performance and market share positions, our capital allocation and cash deployment strategies, our investment and growth strategies, our development of new products and technologies, our business outlook for the third quarter of fiscal 2025 and beyond, and other statements that are not historical facts. These statements and their underlying assumptions are subject to risks and uncertainties and are not guarantees of future performance. Factors that could cause actual results to differ materially from those expressed or implied by such statements include, without limitation: the level of demand for our products; global economic, political and industry conditions, including changes in interest rates and prices for goods and services; the implementation of additional export regulations and license requirements and their interpretation, and their impact on our ability to export products and provide services to customers and on our results of operations; global trade issues and changes in trade and export license policies and our ability to obtain licenses or authorizations on a timely basis, if at all; imposition of new or increases in tariffs and any retaliatory measures, including their impact on demand for our products and services; our ability to effectively mitigate the impact of tariffs; the effects of geopolitical turmoil or conflicts; demand for semiconductor chips and electronic devices; customers’ technology and capacity requirements; the introduction of new and innovative technologies, and the timing of technology transitions; our ability to develop, deliver and support new products and technologies; our ability to meet customer demand, and our suppliers’ ability to meet our demand requirements; the concentrated nature of our customer base; our ability to expand our current markets, increase market share and develop new markets; market acceptance of existing and newly developed products; our ability to obtain and protect intellectual property rights in key technologies; cybersecurity incidents affecting our information systems or information contained in them, or affecting our operations, suppliers, customers or vendors; our ability to achieve the objectives of operational and strategic initiatives, align our resources and cost structure with business conditions, and attract, motivate and retain key employees; the effects of regional or global health epidemics; acquisitions, investments and divestitures; changes in income tax laws; the variability of operating expenses and results among products and segments, and our ability to accurately forecast future results, market conditions, customer requirements and business needs; our ability to ensure compliance with applicable law, rules and regulations and other risks and uncertainties described in our SEC filings, including our recent Forms 10-Q and 8-K. All forward-looking statements are based on management’s current estimates, projections and assumptions, and we assume no obligation to update them.

About Applied Materials

Applied Materials, Inc. (Nasdaq: AMAT) is the leader in materials engineering solutions used to produce virtually every new chip and advanced display in the world. Our expertise in modifying materials at atomic levels and on an industrial scale enables customers to transform possibilities into reality. At Applied Materials, our innovations make possible a better future. Learn more at www.appliedmaterials.com .

For the full report see:

https://ir.appliedmaterials.com/news-releases/news-release-details/applied-materials-announces-second-quarter-2025-results

Applied Micro Circuits Corporation / MACOM Technology

MACOM designs and manufactures high-performance semiconductor products for the Telecommunications, Industrial and Defense and Datacenter industries. MACOM services over 6,000 customers annually with a broad product portfolio that incorporates RF, Microwave, Analog and Mixed Signal and Optical semiconductor technologies. MACOM has achieved certification to the IATF16949 automotive standard, the ISO9001 international quality standard and the ISO14001 environmental management standard. MACOM has more than 70 years of application expertise with multiple design centers, Si, GaAs and InP fabrication, manufacturing, assembly and test, and operates facilities throughout the United States, Europe, and Asia. Click here to view our facilities. In addition, MACOM offers foundry and design services that represents a key core competency within our business.

https://www.macom.com/

Applied Micro Circuits Corporation - MACOM Reports Fiscal Second Quarter 2025 Financial Results – 8/5/2025

LOWELL, MA, May 8, 2025 – MACOM Technology Solutions Holdings, Inc. (“MACOM”) (Nasdaq: MTSI), a leading supplier of semiconductor products, today announced its financial results for its fiscal second quarter ended April 4, 2025.

Second Quarter Fiscal Year 2025 GAAP Results

Revenue was $235.9 million, an increase of 30.2%, compared to $181.2 million in the previous year fiscal second quarter and an increase of 8.1% compared to $218.1 million in the prior fiscal quarter;
Gross margin was 55.2%, compared to 52.5% in the previous year fiscal second quarter and 53.7% in the prior fiscal quarter;
Income from operations was $34.9 million, or 14.8% of revenue, compared to income from operations of $15.4 million, or 8.5% of revenue, in the previous year fiscal second quarter and income from operations of $17.5 million, or 8.0% of revenue, in the prior fiscal quarter; and
Net income was $31.7 million, or $0.42 income per diluted share, compared to net income of $15.0 million, or $0.20 per diluted share, in the previous year fiscal second quarter and net loss, which includes a one-time, primarily non-cash, charge of $193.1 million loss on extinguishment of debt related to the previously-announced refinancing of a portion of MACOM’s 0.25% convertible senior notes due 2026, of $167.5 million, or $2.30 loss per diluted share, in the prior fiscal quarter.

Second Quarter Fiscal Year 2025 Adjusted Non-GAAP Results

Adjusted gross margin was 57.5%, compared to 57.1% in the previous year fiscal second quarter and 57.5% in the prior fiscal quarter;
Adjusted income from operations was $59.8 million, or 25.4% of revenue, compared to adjusted income from operations of $40.2 million, or 22.2% of revenue, in the previous year fiscal second quarter and adjusted income from operations of $55.4 million, or 25.4% of revenue, in the prior fiscal quarter; and
Adjusted net income was $64.3 million, or $0.85 per diluted share, compared to adjusted net income of $43.2 million, or $0.59 per diluted share, in the previous year fiscal second quarter and adjusted net income of $59.5 million, or $0.79 per diluted share, in the prior fiscal quarter.

Management Commentary

“Exceptional teamwork across the entire MACOM organization enabled our solid Q2 performance,” said Stephen G. Daly, President and Chief Executive Officer, MACOM.

Business Outlook

For the fiscal third quarter ending July 4, 2025, MACOM expects revenue to be in the range of $246 million to $254 million. Adjusted gross margin is expected to be between 56.5% and 58.5%, and adjusted earnings per diluted share is expected to be between $0.87 and $0.91 utilizing an anticipated non-GAAP income tax rate of 3% and 76.5 million fully diluted shares outstanding.

Conference Call

MACOM will host a conference call on Thursday, May 8, 2025, at 8:30 a.m. Eastern Time to discuss its fiscal second quarter 2025 financial results and business outlook. Investors and analysts may visit MACOM's Investor Relations website at https://ir.macom.com/events-webcasts to register for a user-specific access code for the live call or to access the live webcast. A replay of the call will be available within 24 hours and remain accessible by all interested parties for approximately 90 days.

About MACOM

MACOM designs and manufactures high-performance semiconductor products for the Industrial and Defense, Data Center and Telecommunications industries. MACOM services over 6,000 customers annually with a broad product portfolio that incorporates RF, Microwave, Analog and Mixed Signal and Optical semiconductor technologies. MACOM has achieved certification to the IATF16949 automotive standard, the AS9100D aerospace standard, the ISO9001 international quality standard and the ISO14001 environmental management standard. MACOM operates facilities across the United States, Europe, Asia and is headquartered in Lowell, Massachusetts.

Special Note Regarding Forward-Looking Statements

This press release and the associated earnings call contains forward-looking statements. These forward-looking statements include, among others, statements about MACOM’s strategic plans, priorities and long-term growth drivers, our ability to execute our long-term strategy, strengthen our position and drive market share gains and growth, our ability to develop new products, achieve market acceptance of those products and better address certain markets, expand our capabilities and extend our product offerings, including through the acquisitions of ENGIN-IC, Inc., Linearizer Communications Group and the radio frequency (RF) business of Wolfspeed, Inc., including our ability to effect the transfer of and effectively integrate the Research Triangle Park, North Carolina RF business fabrication facility, and through the establishment and growth of our European Semiconductor Center and potential collaboration and sales opportunities with private and public sector partners resulting therefrom, and the teams’ capabilities and technologies and expansion thereof and any potential financial benefits derived by and financial impact to MACOM therefrom, strength and competitiveness of new product introductions and technology portfolio expansion, including the anticipated rate of new product introductions, anticipated demand for our products, MACOM’s profitability, revenue targets, prospects and growth opportunities in our three primary markets, the potential impact to our business of an economic downturn or recession, anticipated financial and business performance improvements, MACOM’s strategic investment plan, including negotiation and finalization of a definitive agreement with, and receipt of, funding from the Federal and State governments, the estimated financial results for our 2025 fiscal third quarter and the stated business outlook and future results of operations.

These forward-looking statements reflect MACOM’s current views about future events and are subject to risks, uncertainties, assumptions and changes in circumstances that may cause those events or our actual activities or results to differ materially from those indicated by the forward-looking statements, including our ability to develop new products and achieve market acceptance of those products; component shortages or other disruptions in our supply chain, including as a result of geopolitical unrest or otherwise; inflationary pressures; any failure to accurately anticipate demand for our products and effectively manage our inventory; our dependence on a limited number of customers; risks related to any weakening of global economic conditions, including as a result of the evolving impacts from tariffs, sanctions or other trade tensions (including implementation of new tariffs or retaliatory trade measures); our ability to compete effectively; and those other factors described in “Risk Factors” in MACOM’s filings with the Securities and Exchange Commission (“SEC”), including its Annual Report on Form 10-K, its Quarterly Reports on Form 10-Q and other filings with the SEC. These forward-looking statements speak only as of the date of this press release, and MACOM undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

Discussion Regarding the Use of Historical and Forward-Looking Non-GAAP Financial Measures

In addition to United States Generally Accepted Accounting Principles (“GAAP”) reporting, MACOM provides investors with financial measures that have not been calculated in accordance with GAAP, such as: non-GAAP gross profit and gross margin, non-GAAP operating expenses, non-GAAP income from operations and operating margin, non-GAAP EBITDA, non-GAAP net income, non-GAAP diluted earnings per share, non-GAAP income tax rate and non-GAAP interest income. In this release or elsewhere, we may alternatively refer to such non-GAAP measures as “adjusted” measures. This non-GAAP information excludes the effect, where applicable, of intangible amortization expense, share-based compensation expense, non-cash interest, net, acquisition and integration related costs, loss on debt extinguishment and the tax effect of each non-GAAP adjustment.

Management believes these excluded items are not reflective of our underlying performance and uses these non-GAAP financial measures to: evaluate our ongoing operating performance and compare it against prior periods, make operating decisions, forecast future periods, evaluate potential acquisitions, compare our operating performance against peer companies and assess certain compensation programs. We believe this non-GAAP financial information provides additional insight into our ongoing performance and have therefore chosen to provide this information to investors to help them evaluate the results of our ongoing operations and enable more meaningful period-to-period comparisons. These non-GAAP measures are provided in addition to, and not as a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP.

A reconciliation between GAAP and non-GAAP financial data is included in the supplemental financial data attached to this press release. We have not provided a reconciliation with respect to any forward-looking non-GAAP financial data presented because we do not have and cannot reliably estimate certain key inputs required to calculate the most comparable GAAP financial data, such as future acquisition costs, the possibility and impact of any litigation costs, changes in our GAAP effective tax rate and impairment charges. We believe these unknown inputs are likely to have a significant impact on any estimate of the comparable GAAP financial data.

Investors are cautioned against placing undue reliance on non-GAAP financial measures and are urged to review and consider carefully the adjustments made by management to the most directly comparable GAAP financial measures. Non-GAAP financial measures may have limited value as analytical tools because they may exclude certain expenses that some investors consider important in evaluating our operating performance or ongoing business performance. Further, non-GAAP financial measures may have limited value for purposes of drawing comparisons between companies because different companies may calculate similarly titled non-GAAP financial measures in different ways because non-GAAP measures are not based on any comprehensive set of accounting rules or principles.

Additional information and management’s assessment regarding why certain items are excluded from our non-GAAP measures are summarized below:

Amortization Expense – is related to acquired intangible assets which are based upon valuation methodologies and are generally amortized over the expected life of the intangible asset at the time of acquisition, which may result in amortization amounts that vary over time. This non-cash expense is not considered by management in making operating decisions.

Share-Based Compensation Expense – includes share-based compensation expense for awards that are equity and liability classified on our balance sheet and the related employer tax expense at vesting. Share-based compensation expense is partially outside of our control due to factors such as stock price volatility and interest rates, which may be unrelated to our operating performance during the period in which the expense is incurred. It is an expense based upon valuation methodologies and assumptions that vary over time, and the amount of the expense can vary significantly between companies. Share-based compensation expense amounts are not considered by management in making operating decisions.

Non-cash Interest, Net – includes amounts associated with the amortization of certain fees associated with the establishment or amendment of our convertible notes that are being amortized over the life of the agreements. We believe these amounts are non-cash in nature, are not correlated to future business operations and do not reflect our ongoing operations.

Acquisition and Integration Related Costs – includes items such as professional fees, employee severance and other costs incurred in connection with acquisitions and integration specific activities which are not expected to have a continuing contribution to operations and the amortization of the fair market step-up value of acquired inventory and fixed assets. We believe the exclusion of these items is useful in providing management a basis to evaluate ongoing operating activities and strategic decision making.

Loss on Debt Extinguishment – includes the loss on exchange of our convertible notes. This loss is primarily non-cash and we do not believe this amount is reflective of our ongoing operations.

Tax Effect of Non-GAAP Adjustments – includes adjustments to arrive at an estimate of our non-GAAP income tax rate associated with our non-GAAP income over a period of time. We determine our non-GAAP income tax rate using applicable rates in taxing jurisdictions and assessing certain factors including our historical and forecast earnings by jurisdiction, discrete items, cash taxes paid in relation to our non-GAAP net income before income taxes and our ability to realize tax assets. We generally assess this non-GAAP income tax rate quarterly and have utilized 3% for our first two fiscal quarters of fiscal year 2025 and for our fiscal year 2024. Our historical effective income tax rate under GAAP has varied significantly from our non-GAAP income tax rate due primarily to income taxed in foreign jurisdictions at generally lower tax rates, research and development tax credits and acquisition expenses. We believe it is beneficial for management to review our non-GAAP income tax rate on a consistent basis over periods of time. Items such as those noted above may have a significant impact on our GAAP income tax expense and associated effective tax rate over time.

Adjusted EBITDA – is a calculation that adds depreciation expense to our adjusted income from operations. Management reviews and utilizes this measure for operational analysis purposes. We believe competitors and others in the financial industry also utilize this measure for analysis purposes.

Incremental Shares – is the number of potential shares of common stock issuable upon the exercise of stock options, restricted stock, restricted stock units and conversion of convertible debt which were not included in the calculation of our GAAP diluted shares. We believe competitors and others in the financial industry utilize this non-GAAP measure for analysis purposes.

https://www.macom.com/updates/news/2025/macom-reports-fiscal-second-quarter-2025-financial-results

Atmel Corporation

Microchip Technology Incorporated is a leading provider of smart, connected and secure embedded control and processing solutions. Its easy-to-use development tools and comprehensive product portfolio enable customers to create optimal designs, which reduce risk while lowering total system cost and time to market. The company's solutions serve over 100,000 customers across the industrial, automotive, consumer, aerospace and defense, communications and computing markets. Headquartered in Chandler, Arizona, Microchip offers outstanding technical support along with dependable delivery and quality.

https://www.microchip.com/

Microchip Technology Incorporated - Microchip Technology Announces Financial Results For Third Quarter Of Fiscal Year 2024 – 1/2/2024

Net sales of $1.766 billion, down 21.7% sequentially and down 18.6% from the year ago quarter. Our preliminary net sales results provided on January 8, 2024 was for net sales to be down 22% sequentially.
On a GAAP basis: gross profit of 63.4%; operating income of $529.4 million and 30.0% of net sales; net income of $419.2 million; and EPS of $0.77 per diluted share. Our guidance provided on November 2, 2023 was for GAAP EPS of $0.68 to $0.76 per diluted share.
On a Non-GAAP basis: gross profit of 63.8%; operating income of $728.1 million and 41.2% of net sales; net income of $592.7 million and EPS of $1.08 per diluted share. Our guidance provided on November 2, 2023 was for Non-GAAP EPS of $1.09 to $1.17 per diluted share.
Returned approximately $352.0 million to shareholders in the December quarter through dividends of $237.4 million and the repurchase of approximately $114.6 million, or 1.4 million shares of our common stock, at an average price of $82.66 per share under our previously announced $4.0 billion stock buyback program. Cumulatively repurchased approximately $1.966 billion, or 25.9 million shares, over the last nine quarters.
Paid down $392.0 million of debt in the December 2023 quarter. Cumulatively paid down $7.1 billion of debt over the last 22 quarters. Reduced net leverage to 1.27x.
Record quarterly dividend declared today for the March quarter of 45.0 cents per share, an increase of 25.7% from the year ago quarter.

Microchip's Highlights for the Quarter Ended December 31, 2023:

Introduced the industry’s most complete solution for 800G active electrical cables (AECs) used for generative AI networks. Our new META-DX2C 800G retimer is supported by a complete hardware and software reference design with key Microchip components.
Released our latest TrustAnchor security IC to meet and exceed heightened automotive secure authentication requirements. Available as a CryptoAuthentication™ or CryptoAutomotive™ secure IC, the new TA101 device focuses on larger key sizes and enhanced cybersecurity requirements.
Expanded and announced Microchip’s Detroit Automotive Technology Center as the destination for automotive clients. The 24,000-square-foot facility includes new high-voltage and E-Mobility labs, as well as technical training rooms for automotive clients to develop and optimize designs.
Showcased expanded RISC-V-based solutions, partnerships and system design tools at the 2023 RISC-V Summit including BeagleBoard hardware and system on module (SoM) products, as well as AI/ML solutions and an industrial edge solutions suite. Also presented keynote highlighting new advancements in intelligent edge compute and security paradigms based on the RISC-V platform.
Significantly expanded Strategic R&D commitment in the UK with a new design center in Cambridge that will give Microchip access to a highly skilled engineering workforce, allowing it to expand rapidly and develop new solutions for a wide range of markets.
Received the Outstanding Community Project Award from The Republic of the Philippines for notable efforts towards undertaking social welfare programs that greatly benefit the Filipino community. Programs included mentoring students, providing school supplies and health kits, as well as participating in beautification projects.
Launched AVR® EB family of microcontrollers to reduce noise, vibration and system harshness in BLDC motor applications. The family offers a smaller, more cost-effective solution for sophisticated waveform control with increased efficiency.
Achieved QML class Q qualification for radiation-tolerant PolarFire® FPGAs that bring high levels of density and performance to space applications, saving system cost and engineering efforts through low power consumption and immunity to configuration upsets.
Introduced press-fit terminal power modules for solder-free solutions in high-volume manufacturing to help customers automate their installation processes. The SP1F and SP3F power modules are highly configurable in Silicon Carbide (SiC) or Silicon (Si) technology.
Unveiled a new standard of enhanced code security with the PIC18-Q24 family of microcontrollers that introduced the programming and debugging interface disable (PDID) feature. When enabled, this feature is designed to lock out access to the programming/debugging interface and block unauthorized attempts to read, modify or erase firmware.
Expanded our development ecosystem with MPLAB® XC-DSC compiler with flexible licensing options. Specifically optimized for dsPIC® digital signal controllers, the new compiler licenses are custom-tailored for real-time applications.
Announced a new 32-bit MCU that features an embedded hardware security module to safeguard industrial and consumer applications. The highly configurable PIC32CZ CA devices are available with a 300 MHz Arm®Cortex®-M7 processor.

https://ww1.microchip.com/downloads/aemDocuments/documents/investor/press-release/MCHP_Announces_Financial_Results_for_Q3FY24.020124.pdf

Broadcom Corporation

Broadcom Inc. is a global infrastructure technology leader built on more than 60 years of innovation, collaboration and engineering excellence. With roots based in the rich technical heritage of AT&T/Bell Labs, Lucent and Hewlett-Packard/Agilent, Broadcom focuses on technologies that connect our world. Through the combination of industry leaders Broadcom, LSI, Broadcom Corporation, Brocade, CA Technologies, Symantec's enterprise security business and VMware, the company has the size, scope and engineering talent to lead the industry into the future.

https://www.broadcom.com/

Broadcom Inc. - Broadcom Inc. Announces Fourth Quarter and Fiscal Year 2024 Financial Results and Quarterly Dividend – 12/12/2024

Revenue of $14,054 million for the fourth quarter, up 51 percent from the prior year period
GAAP net income of $4,324 million for the fourth quarter; Non-GAAP net income of $6,965 million for the fourth quarter
Adjusted EBITDA of $9,089 million for the fourth quarter, or 65 percent of revenue
GAAP diluted EPS of $0.90 for the fourth quarter; Non-GAAP diluted EPS of $1.42 for the fourth quarter
Cash from operations of $5,604 million for the fourth quarter, less capital expenditures of $122 million, resulted in $5,482 million of free cash flow, or 39 percent of revenue
Quarterly common stock dividend increased by 11 percent from the prior quarter to $0.59 per share
First quarter fiscal year 2025 revenue guidance ofapproximately $14.6 billion, an increase of 22 percent from the prior year period
First quarter fiscal year 2025 Adjusted EBITDA guidance of approximately 66 percent of projected revenue (1)

PALO ALTO, Calif., Dec. 12, 2024 /PRNewswire/ -- Broadcom Inc. (Nasdaq: AVGO), a global technology leader that designs, develops and supplies semiconductor and infrastructure software solutions, today reported financial results for its fourth quarter and fiscal year ended November 3, 2024, provided guidance for its first quarter of fiscal year 2025 and announced its quarterly dividend.

"Broadcom's fiscal year 2024 revenue grew 44% year-over-year to a record $51.6 billion, as infrastructure software revenue grew to $21.5 billion, on the successful integration of VMware," said Hock Tan, President and CEO of Broadcom Inc. "Semiconductor revenue was a record $30.1 billion driven by AI revenue of $12.2 billion. AI revenue which grew 220 percent year-on-year was driven by our leading AI XPUs and Ethernet networking portfolio."

"In fiscal year 2024 adjusted EBITDA increased 37% year-over-year to a record $31.9 billion, and free cash flow excluding restructuring was strong at $21.9 billion," said Kirsten Spears, CFO of Broadcom Inc. "Based on increased cash flows in fiscal year 2024, we are increasing our quarterly common stock dividend by 11% to $0.59 per share for fiscal year 2025. The target fiscal year 2025 annual common stock dividend of $2.36 per share is a record, and the fourteenth consecutive increase in annual dividends since we initiated dividends in fiscal 2011."

(1) The Company is not readily able to provide a reconciliation of the projected non-GAAP financial information presented to the relevant projected GAAP measure without unreasonable effort.

Fourth Quarter Fiscal Year 2024 Financial Highlights

	GAAP						Non-GAAP
(Dollars in millions, except per share data)	Q4 24		Q4 23		Change		Q4 24		Q4 23		Change
Net revenue	$	14,054	$	9,295	+51	%	$	14,054	$	9,295	+51	%
Net income	$	4,324	$	3,524	+$ 800		$	6,965	$	4,810	+$ 2,155
Earnings per common share - diluted *	$	0.90	$	0.83	+$ 0.07		$	1.42	$	1.11	+$ 0.31

(Dollars in millions)	Q4 24		Q4 23		Change
Cash flow from operations	$	5,604	$	4,828	+$ 776
Adjusted EBITDA	$	9,089	$	6,048	+$ 3,041
Free cash flow	$	5,482	$	4,723	+$ 759


Net revenue by segment
(Dollars in millions)	Q4 24				Q4 23				Change
Semiconductor solutions	$	8,230	59	%	$	7,326	79	%	+12	%
Infrastructure software		5,824	41			1,969	21		+196	%
Total net revenue	$	14,054	100	%	$	9,295	100	%

* On July 12, 2024, the Company completed a ten-for-one forward stock split. All per share amounts presented reflect the stock split.

The Company's cash and cash equivalents at the end of the fiscal quarter were $9,348 million, compared to $9,952 million at the end of the prior quarter.

During the fourth fiscal quarter, the Company generated $5,604 million in cash from operations and spent $122 million on capital expenditures. The Company paid $1,204 million of withholding taxes related to net settled equity awards that vested in the quarter (resulting in the elimination of 7.4 million shares).

On September 30, 2024, the Company paid a cash dividend on a split adjusted basis of $0.53 per share, totaling $2,484 million.

The differences between the Company's GAAP and non-GAAP results are described generally under "Non-GAAP Financial Measures" below and presented in detail in the financial reconciliation tables attached to this release.

Fiscal Year 2024 Financial Highlights

	GAAP						Non-GAAP
(Dollars in millions, except per share data)	FY 24		FY 23		Change		FY 24		FY 23		Change
Net revenue	$	51,574	$	35,819	+44	%	$	51,574	$	35,819	+44	%
Net income	$	5,895	$	14,082	-$ 8,187		$	23,733	$	18,378	+$ 5,355
Earnings per common share - diluted *	$	1.23	$	3.30	-$ 2.07		$	4.87	$	4.22	+$ 0.65

(Dollars in millions)	FY 24		FY 23		Change
Cash flow from operations	$	19,962	$	18,085	+$ 1,877
Adjusted EBITDA	$	31,897	$	23,213	+$ 8,684
Free cash flow	$	19,414	$	17,633	+$ 1,781


Net revenue by segment
(Dollars in millions)	FY 24				FY 23				Change
Semiconductor solutions	$	30,096	58	%	$	28,182	79	%	+7	%
Infrastructure software		21,478	42			7,637	21		+181	%
Total net revenue	$	51,574	100	%	$	35,819	100	%

* On July 12, 2024, the Company completed a ten-for-one forward stock split. All per share amounts presented reflect the stock split.

First Quarter Fiscal Year 2025 Business Outlook

Based on current business trends and conditions, the outlook for the first quarter of fiscal year 2025, ending February 2, 2025, is expected to be as follows:

First quarter revenue guidance of approximately $14.6 billion; and
First quarter Adjusted EBITDA guidance of approximately 66 percent of projected revenue.

The guidance provided above is only an estimate of what the Company believes is realizable as of the date of this release. The Company is not readily able to provide a reconciliation of projected Adjusted EBITDA to projected net income without unreasonable effort. Actual results will vary from the guidance and the variations may be material. The Company undertakes no intent or obligation to publicly update or revise any of these projections, whether as a result of new information, future events or otherwise, except as required by law.

Quarterly Dividends

The Company's Board of Directors has approved a quarterly cash dividend of $0.59 per share. The dividend is payable on December 31, 2024 to stockholders of record at the close of business (5:00 p.m. Eastern Time) on December 23, 2024.

Non-GAAP Financial Measures

The non-GAAP measures should not be considered as a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP. A reconciliation between GAAP and non-GAAP financial data is included in the supplemental financial data attached to this press release. Broadcom believes non-GAAP financial information provides additional insight into the Company's on-going performance. Therefore, Broadcom provides this information to investors for a more consistent basis of comparison and to help them evaluate the results of the Company's on-going operations and enable more meaningful period to period comparisons.

In addition to GAAP reporting, Broadcom provides investors with net income, operating income, gross margin, operating expenses, cash flow and other data on a non-GAAP basis. This non-GAAP information excludes amortization of acquisition-related intangible assets, stock-based compensation expense, restructuring and other charges, acquisition-related costs, including integration costs, non-GAAP tax reconciling adjustments, and other adjustments. Management does not believe that these items are reflective of the Company's underlying performance. Internally, these non-GAAP measures are significant measures used by management for purposes of evaluating the core operating performance of the Company, establishing internal budgets, calculating return on investment for development programs and growth initiatives, comparing performance with internal forecasts and targeted business models, strategic planning, evaluating and valuing potential acquisition candidates and how their operations compare to the Company's operations, and benchmarking performance externally against the Company's competitors. The exclusion of these and other similar items from Broadcom's non-GAAP financial results should not be interpreted as implying that these items are non-recurring, infrequent or unusual.

Free cash flow measures have limitations as they omit certain components of the overall cash flow statement and do not represent the residual cash flow available for discretionary expenditures. Investors should not consider presentation of free cash flow measures as implying that stockholders have any right to such cash. Broadcom's free cash flow may not be calculated in a manner comparable to similarly named measures used by other companies.

About Broadcom

Broadcom Inc. (NASDAQ: AVGO) is a global technology leader that designs, develops, and supplies a broad range of semiconductor, enterprise software and security solutions. Broadcom's category-leading product portfolio serves critical markets including cloud, data center, networking, broadband, wireless, storage, industrial, and enterprise software. Our solutions include service provider and enterprise networking and storage, mobile device and broadband connectivity, mainframe, cybersecurity, and private and hybrid cloud infrastructure. Broadcom is a Delaware corporation headquartered in Palo Alto, CA. For more information, go to www.broadcom.com .

Cautionary Note Regarding Forward-Looking Statements

This announcement contains forward-looking statements (including within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended, and Section 27A of the United States Securities Act of 1933, as amended) concerning Broadcom. These statements include, but are not limited to, statements that address our expected future business and financial performance, and other statements identified by words such as "will," "expect," "believe," "anticipate," "estimate," "should," "intend," "plan," "potential," "predict," "project," "aim," and similar words, phrases or expressions. These forward-looking statements are based on current expectations and beliefs of Broadcom's management, current information available to Broadcom's management, and current market trends and market conditions and involve risks and uncertainties that may cause actual results to differ materially from those contained in forward-looking statements. Accordingly, undue reliance should not be placed on such statements.

Particular uncertainties that could materially affect future results include risks associated with: global economic conditions and concerns; government regulations and administrative proceedings, trade restrictions and trade tensions; global political and economic conditions; our acquisition of VMware, Inc., including our ability to realize the expected benefits; any acquisitions or dispositions we may make, such as delays, challenges and expenses associated with receiving governmental and regulatory approvals and satisfying other closing conditions, and with integrating acquired businesses with our existing businesses and our ability to achieve the benefits, growth prospects and synergies expected by such acquisitions; dependence on and risks associated with distributors and resellers of our products; dependence on senior management and our ability to attract and retain qualified personnel; our ability to protect against cyber security threats and a breach of security systems; any loss of our significant customers and fluctuations in the timing and volume of significant customer demand; cyclicality in the semiconductor industry or in our target markets; our dependence on contract manufacturing and outsourced supply chain; our dependency on a limited number of suppliers; prolonged disruptions of our or our contract manufacturers' manufacturing facilities, warehouses or other significant operations; our ability to accurately estimate customers' demand and adjust our manufacturing and supply chain accordingly; our ability to continue achieving design wins with our customers, as well as the timing of any design wins; our ability to improve our manufacturing efficiency and quality; involvement in legal proceedings; ability of our software products to manage and secure IT infrastructures and environments; demand for our data center virtualization products and market acceptance of our products and services; compatibility of our software products with operating environments, platforms or third-party products; our ability to enter into satisfactory software license agreements; availability of third-party software used in our products; use of open source software in our products; sales to government customers; our ability to manage products and services lifecycles; quarterly and annual fluctuations in operating results; our competitive performance; our ability to maintain or improve gross margin; our ability to protect our intellectual property and the unpredictability of any associated litigation expenses; any expenses or reputational damage associated with resolving customer product warranty and indemnification claims, or other undetected defects or bugs; our ability to sell to new types of customers and to keep pace with technological advances; our compliance with privacy and data security laws; our provision for income taxes and overall cash tax costs; our ability to maintain tax concessions in certain jurisdictions; potential tax liabilities as a result of acquiring VMware; our significant indebtedness and the need to generate sufficient cash flows to service and repay such debt; and other events and trends on a national, regional, industry-specific and global scale, including those of a political, economic, business, competitive and regulatory nature.

Our filings with the SEC, which are available without charge at the SEC's website at https://www.sec.gov , discuss some of the important risk factors that may affect our business, results of operations and financial condition. Actual results may vary from the estimates provided. We undertake no intent or obligation to publicly update or revise any of the estimates and other forward-looking statements made in this announcement, whether as a result of new information, future events or otherwise, except as required by law.

https://investors.broadcom.com/news-releases/news-release-details/broadcom-inc-announces-fourth-quarter-and-fiscal-year-2024

Cypress Semiconductor Corporation

Infineon Technologies AG is a global semiconductor leader in power systems and IoT. Infineon drives decarbonization and digitalization with its products and solutions. The Company had around 58,060 employees worldwide (end of September 2024) and generated revenue of about €15 billion in the 2024 fiscal year (ending 30 September). Infineon is listed on the Frankfurt Stock Exchange (ticker symbol: IFX) and in the USA on the OTCQX International over-the-counter market (ticker symbol: IFNNY). Further information is available at https://www.infineon.com/ Follow us: X - Facebook – LinkedIn

https://www.infineon.com/cms/en/

Infineon Technologies AG - Infineon concludes FY 2024 with an increase in revenue and earnings in the last quarter. FY 2025: Muted expectations in a weak market environment -12/11/2024

Q4 FY 2024: Revenue €3.919 billion, Segment Result €832 million, Segment Result Margin 21.2 percent
FY 2024: Revenue €14.955 billion, down 8 percent on the prior year; Segment Result €3.105 billion; Segment Result Margin 20.8 percent; adjusted earnings per share €1.87; Free Cash Flow €23 million, adjusted Free Cash Flow €1.690 billion
Dividend proposal for FY 2024: Dividend unchanged at €0.35 per share
Outlook for Q1 FY 2025: Based on an assumed exchange rate of US$1.10 to the euro, revenue of around €3.2 billion expected. On this basis, Segment Result Margin forecast to be in the mid-teens percentage range
Outlook for FY 2025: Based on an assumed exchange rate of US$1.10 to the euro, revenue is expected to slightly decline compared with previous year. The adjusted gross margin should be around 40 percent and the Segment Result Margin in the mid-to-high-teens percentage range. Investments of approximately €2.5 billion planned. Free Cash Flow adjusted for investments in frontend buildings should be around €1.7 billion and reported Free Cash Flow around €900 million

Neubiberg, 12 November 2024 – Today, Infineon Technologies AG is reporting results for the fourth quarter and the full fiscal year, both of which ended on 30 September 2024.

"Infineon has managed the 2024 fiscal year well and concluded it in line with expectations," says Jochen Hanebeck, CEO of Infineon. "Currently, there is hardly any growth momentum in our end markets except from AI, the cyclical recovery is being delayed. The inventory correction is continuing. Short-term ordering patterns and inventory digestion are clouding visibility on demand trends beyond the next couple of quarters. We are therefore preparing for a muted business trajectory in 2025. At the same time, we are relying on the consistent implementation of the structural measures in our “Step Up” program to strengthen our competitiveness. In combination with our innovative power, we are addressing our structural growth drivers and putting ourselves in the best position for a coming upturn.”

€ in millions	Q4 FY 2024	Q3 FY 2024	Change vs. previous quarter	Q4 FY 2023	Change vs. previous year quarter
(unless otherwise stated)			+/- in %		+/- in %
Revenue	3,919	3,702	6	4,149	(6)
Gross margin (in %)	40.2%	40.2%		43.6%
Adjusted gross margin 1 (in %)	42.2%	42.2%		45.5%
Segment Result	832	734	13	1,044	(20)
Segment Result Margin (in %)	21.2%	19.8%		25.2%
Profit (loss) from continuing operations	384	404	(5)	748	(49)
Profit (loss) from discontinued operations, net of income taxes	(468)	(1)	˗	5	˗
Profit (loss) for the period	(84)	403	˗	753	˗
Basic earnings per share from continuing operations (in euro) 2	0.29	0.31	(6)	0.57	(49)
Diluted earnings per share from continuing operations (in euro) 2	0.29	0.30	(3)	0.57	(49)
Adjusted earnings per share (in euro) – diluted 2,3	0.49	0.43	14	0.65	(25)

The reconciliation of cost of goods sold to adjusted cost of goods sold and adjusted gross margin is presented on page 11.
The calculation for earnings per share and adjusted earnings per share is based on unrounded figures.
The reconciliation of profit (loss) for the period to adjusted profit (loss) for the period and adjusted earnings per share is presented on page 10.

Group performance in the fourth quarter of the 2024 fiscal year

In the fourth quarter of the 2024 fiscal year, Group revenue rose to €3,919 million, from €3,702 million in the prior quarter. All four segments, Automotive (ATV), Green Industrial Power (GIP), Power & Sensor Systems (PSS) and Connected Secure Systems (CSS), contributed to the increase in revenue by 6 percent.

The gross margin in the fourth quarter was 40.2 percent, the same as in the third quarter of the 2024 fiscal year. The adjusted gross margin also remained the same as in the prior quarter, at 42.2 percent.

The Segment Result improved in the fourth quarter of the 2024 fiscal year to €832 million, from €734 million in the third quarter. The Segment Result Margin rose to 21.2 percent, compared with 19.8 percent in the previous quarter.

The fourth-quarter Non-Segment Result was a net loss of €359 million, compared with a net loss of €215 million in the third quarter. The Non-Segment Result for the fourth quarter of the 2024 fiscal year comprised €77 million relating to cost of goods sold, €14 million relating to research and development expenses and €48 million relating to selling, general and administrative expenses. In addition, it included other operating expenses of €220 million, mainly in connection with the “Step Up” structural improvement program.

Operating profit for the fourth quarter was €473 million, compared with €519 million in the third quarter.

The financial result in the last quarter of the past fiscal year was a net financial loss of €26 million, compared with a net financial loss of €30 million in the prior quarter.

The tax expense in the fourth quarter of the 2024 fiscal year was €64 million, compared with €88 million in the preceding quarter.

Profit from continuing operations in the fourth quarter of the past fiscal year was €384 million, compared with €404 million in the previous three-month period. The result from discontinued operations in the fourth quarter was a loss of €468 million following the settlement in August 2024 agreed with the insolvency administrator of Qimonda. This compares with a loss from discontinued operations of €1 million in the prior quarter. The Qimonda settlement had the effect of reducing the result for the period in the fourth quarter to a loss of €84 million, compared with a profit of €403 million in the third quarter.

Earnings per share from continuing operations (basic) stood at €0.29 at the end of the fourth quarter of the 2024 fiscal year, compared with €0.31 one quarter earlier. Diluted earnings per share from continuing operations in the fourth quarter also stood at €0.29. The comparative figure for the third quarter was €0.30. Adjusted earnings per share 1 (diluted) rose in the fourth quarter of the past fiscal year to €0.49, up from €0.43 in the prior quarter.

Investments – which Infineon defines as the sum of investments in property, plant and equipment, investments in other intangible assets and capitalized development costs – increased in the fourth quarter of the 2024 fiscal year to €722 million, up from €700 million in the preceding three-month period. Depreciation and amortization in the fourth quarter was €473 million, compared with €470 million in the third quarter.

Free Cash Flow 2 improved significantly in the fourth quarter of the 2024 fiscal year to €1,145 million, up from €393 million in the prior quarter.

The gross cash position at the end of the fourth quarter of the past fiscal year was €2,201 million, compared with €2,345 million at the end of the third quarter. Financial debt decreased from €5,386 million at 30 June 2024 to €4,811 million at 30 September 2024. Short-term bank liabilities of €500 million were repaid in the fourth quarter of 2024. The net cash position improved by €431 million, from a negative amount of €3,041 million at the end of the third quarter to a negative amount of €2,610 million at the end of the fourth quarter.

Adjusted profit (loss) for the period and adjusted earnings per share (diluted) should not be seen as a replacement or as superior performance indicators, but rather as additional information to profit (loss) for the period and earnings per share (diluted) determined in accordance with IFRS. The detailed calculation of adjusted earnings per share is presented on page 10.
For definitions and the calculation of Free Cash Flow and of the gross and net cash positions, see page 14.

Segment earnings for the fourth quarter of the 2024 fiscal year

Revenue in the Automotive segment rose in the fourth quarter of the 2024 fiscal year to €2,149 million, up from €2,112 million in the prior quarter. The 2 percent increase in revenue was the result of slightly higher demand for microcontrollers and power semiconductors for electric vehicles. The Segment Result improved to €551 million from €537 million in the third quarter of the past fiscal year. The Segment Result Margin rose slightly from 25.4 percent in the third quarter to 25.6 percent in the fourth quarter.

In the fourth quarter of the 2024 fiscal year, revenue in the Green Industrial Power segment improved to €503 million, up from €475 million in the third quarter. The areas contributing to the 6 percent increase in revenue were renewable energy, energy infrastructure, automation and industrial drives, as well as electric buses, trucks and trains. There was a slight drop in revenue in the areas of air conditioning systems and home appliances. The Segment Result rose in the fourth quarter of the past fiscal year to €111 million, up from €88 million in the third quarter. The Segment Result Margin increased to 22.1 percent, compared with 18.5 percent in the prior quarter.

Revenue in the Power & Sensor Systems segment continued to recover in the fourth quarter of the 2024 fiscal year, rising to €861 million from €749 million in the third quarter. Strong demand in the area of servers and data centers mainly related to AI as well as for silicon microphones for smartphones, led to a 15 percent increase in revenue. The Segment Result rose from €70 million in the third quarter to €105 million in the fourth quarter of the past fiscal year. The Segment Result Margin improved to 12.2 percent, from 9.3 percent in the third quarter.

In the Connected Secure Systems segment, revenue rose in the fourth quarter of the 2024 fiscal year to €406 million, up from €366 million in the prior quarter. The 11 percent increase in revenue was due to higher revenue from payment cards and microcontrollers. The Segment Result rose from €42 million in the third quarter to €62 million in the fourth quarter. The Segment Result Margin jumped to 15.3 percent, from 11.5 percent in the third quarter of the past fiscal year.

Proposed dividend for the 2024 fiscal year: €0.35 per share

Our dividend policy is aimed at letting shareholders adequately participate in Infineon’s economic development and, in general, at paying out at least an unchanged dividend even in the event of stagnating or declining earnings. Against this backdrop, we intend to propose to the Annual General Meeting to be held in February 2025 for a dividend of €0.35 per share, as in the previous year. This proposal takes account of the decline seen in our business, while at the same time maintaining the financial headroom required for further profitable growth in the years ahead. The number of shares issued remained unchanged at 1,305,921,137 as of 30 September 2024. This figure includes 6,757,925 shares owned by the Company that are not entitled to a dividend. Should the Annual General Meeting approve the planned proposal, the total amount to be distributed to shareholders is anticipated to be €455 million, compared with €456 million one year earlier.

Outlook for the first quarter of the 2025 fiscal year

Based on an assumed exchange rate of US$1.10 to the euro, Infineon expects to generate revenue of around €3.2 billion in the first quarter of the 2025 fiscal year. Revenue in the ATV and CSS segments is forecast to decline at around the Group average. The percentage decline in the PSS segment should be lower than the Group average, while the percentage decline in the GIP segment is anticipated to be higher than the Group average. The Segment Result Margin is expected to be in the mid-teens percentage range.

Outlook for the 2025 fiscal year

Based on an assumed exchange rate of US$1.10 to the euro, revenue in the 2025 fiscal year is forecast to see a slight decline in comparison with the 2024 fiscal year. A slight decrease in revenue is expected in the ATV segment and a more pronounced decline in the GIP segment. In contrast, the PSS segment should see a moderate increase in revenue. Revenue in the CSS segment is expected to remain more or less the same as in the 2024 fiscal year. The adjusted gross margin should be around 40 percent and the Segment Result Margin in the mid-to-high-teens percentage range.

Investments – which Infineon defines as the sum of investments in property, plant and equipment, investments in other intangible assets and capitalized development costs – are planned at around €2.5 billion for the 2025 fiscal year. The focus here will be on the completion of the fourth manufacturing module in Dresden (Germany), for smart power technologies for applications such as powering AI. Considerable funds are also being used to acquire machinery for the production of semiconductors based on silicon carbide and gallium nitride at the Kulim site in Malaysia and the Villach site in Austria.

Depreciation and amortization are anticipated to be around €2.0 billion in the 2025 fiscal year, of which approximately €400 million is attributable to amortization of purchase price allocations arising mainly from the acquisition of Cypress. Adjusted Free Cash Flow, which is adjusted for investments in frontend buildings, is expected to be about €1.7 billion. Reported Free Cash Flow should be around €900 million.

About Infineon

https://www.infineon.com/dgdl/INFXX202411-020e.pdf?fileId=8ac78c8b92bced6201931eb62faa0053

Global Semiconductor Alliance

GSA is Where Leaders Meet to establish a profitable and sustainable semiconductor ecosystem. This expanding ecosystem encompasses semiconductors, software, solutions, systems and services. As a leading semiconductor and technology industry organization, we offer an efficient and strategic platform for thought leadership.

GSA has an impressive global footprint with 300+ corporate members, including more than 120 public companies, GSA provides a unique, neutral platform for collaboration, where global executives interface and innovate with peers, partners, and customers to accelerate industry growth and maximize return on invested and intellectual capital. Members of the GSA represent 77 percent of the $535B+ semiconductor industry and continue to grow.

https://www.gsaglobal.org/

Hisilicon Technologies Co., Ltd.

HiSilicon is a leading global fabless semiconductors company. Founded in 1991 as Huawei's ASIC Design Center, HiSilicon became an independent, wholly owned subsidiary of Huawei in 2004. We provide trusted and cutting-edge semiconductor products and services for smart devices, which have helped build tomorrow's smart city, smart home, smart mobility solutions.

Our portfolio covers a wide range of fields, including smart vision, smart IoT, smart media, smart mobility, display interactions, mobile SoCs, data centers, and optical transceivers.

HiSilicon has built 12 global offices and R&D centers, which are spread throughout China, Singapore, South Korea, Japan, and Europe, and offers products and services in 100+ countries and regions around the world.

https://www.hisilicon.com/en/

II-VI Incorporated

Coherent Corp. is a global leader in materials, networking, and lasers for the industrial, communications, electronics, and instrumentation markets. The company is headquartered in Saxonburg, Pennsylvania. It was founded in 1971 to manufacture high-quality materials and optics for industrial lasers. Today, the company operates in more than 20 countries around the world.

Coherent is focused on delivering innovations that fuel market megatrends while pursuing our mission of enabling the world to be safer, healthier, closer, and more efficient. Coherent empowers market innovators to define the future through breakthrough technologies, from materials to systems.

https://ii-vi.com/

II-VI Incorporated - Coherent Corp. Reports Third Quarter Fiscal 2025 Results – 7/5/2025

Q3 REVENUE OF $1.50B, INCREASED 24% Y/Y
Q3 GAAP GROSS MARGIN OF 35.2%, INCREASED 491 bps Y/Y; Q3 NON-GAAP GROSS MARGIN OF 38.5%, INCREASED 490 bps Y/Y
Q3 GAAP EPS OF $(0. 11), IMPROVED $0.18 Y/Y; Q3 NON-GAAP EPS OF $0.91, IMPROVED $0.53 Y/Y

SAXONBURG, Pa., May 7, 2025 (GLOBE NEWSWIRE) – Coherent Corp. (NYSE: COHR) (“Coherent,” “We,” or the “Company”), a global leader in materials, networking, and lasers, announced financial results today for its fiscal third quarter ended March 31, 2025.

Revenue for the third quarter of fiscal 2025 was $1.50 billion, with GAAP gross margin of 35.2% and GAAP net loss of $0.11 per diluted share. On a non-GAAP basis, gross margin was 38.5% with net income per diluted share of $0.91.

Jim Anderson, CEO, said, “We delivered strong growth and profitability in the March quarter with record revenue driven by another quarter of strong AI-related datacenter demand. We also introduced many new industry-leading optical networking products and technologies during the past quarter which position us well for long-term growth.”

Sherri Luther, CFO, said, “Revenue growth and gross margin expansion drove a significant year-over-year improvement in our GAAP and non-GAAP EPS. We also paid down $136 million of our outstanding debt. Cash and capital allocation remain priorities for us, as we further improve operating leverage and efficiency, while continuing to make investments for the long-term growth of the company.

https://www.coherent.com/news/press-releases/third-quarter-fiscal-year-2025-results

Intel Corporation

Intel (Nasdaq: INTC) is an industry leader, creating world-changing technology that enables global progress and enriches lives. Inspired by Moore’s Law, we continuously work to advance the design and manufacturing of semiconductors to help address our customers’ greatest challenges. By embedding intelligence in the cloud, network, edge and every kind of computing device, we unleash the potential of data to transform business and society for the better. To learn more about Intel’s innovations, go to newsroom.intel.com and intel.com.

https://www.intel.com/content/www/us/en/homepage.html

Intel Corporation - Intel Reports Third-Quarter 2024 Financial Results – 31/10/2024

NEWS SUMMARY

Third-quarter revenue of $13.3 billion.
Third-quarter GAAP earnings (loss) per share (EPS) attributable to Intel was $(3.88); non-GAAP EPS attributable to Intel was $(0.46).
$(3.89) impact to GAAP EPS attributable to Intel from $15.9 billion of impairment charges and $2.8 billion of restructuring charges; $(0.63) impact to non-GAAP EPS attributable to Intel from $3.1 billion of impairment charges.
Making significant progress on plan to deliver $10 billion in cost reductions in 2025.
Forecasting fourth-quarter 2024 revenue of $13.3 billion to $14.3 billion; expecting fourth-quarter GAAP EPS attributable to Intel of $(0.24); non-GAAP EPS attributable to Intel of $0.12.

SANTA CLARA, Calif.--(BUSINESS WIRE)-- Intel Corporation today reported third-quarter 2024 financial results.

“Our Q3 results underscore the solid progress we are making against the plan we outlined last quarter to reduce costs, simplify our portfolio and improve organizational efficiency. We delivered revenue above the midpoint of our guidance, and are acting with urgency to position the business for sustainable value creation moving forward,” said Pat Gelsinger, Intel CEO. “The momentum we are building across our product portfolio to maximize the value of our x86 franchise, combined with the strong interest Intel 18A is attracting from foundry customers, reflects the impact of our actions and the opportunities ahead.”

“Restructuring charges meaningfully impacted Q3 profitability as we took important steps toward our cost reduction goal,” said David Zinsner, Intel CFO. “The actions we took this quarter position us for improved profitability and enhanced liquidity as we continue to execute our strategy. We are encouraged by improved underlying trends, reflected in our Q4 guidance.”

Q3 2024 Financial Highlights

	GAAP			Non-GAAP
	Q3 2024	Q3 2023	vs. Q3 2023	Q3 2024	Q3 2023	vs. Q3 2023
Revenue ($B)	$13.3	$14.2	down 6%
Gross Margin	15.0%	42.5%	down 27.5 ppts	18.0%	45.8%	down 27.8 ppts
R&D and MG&A ($B)	$5.4	$5.2	up 4%	$4.8	$4.6	up 4%
Operating Margin	(68.2)%	(0.1)%	down 68.1 ppts	(17.8)%	13.6%	down 31.4 ppts
Tax Rate	(87.0)%	696.2%	n/m*	13.0%	13.0%	—
Net Income (loss) Attributable to Intel ($B)	$(16.6)	$0.3	n/m*	$(2.0)	$1.7	n/m*
Earnings (loss) Per Share Attributable to Intel	$(3.88)	$0.07	n/m*	$(0.46)	$0.41	n/m*

In the third quarter, the company generated $4.1 billion in cash from operations and paid dividends of $0.5 billion.

*Not meaningful

Q3 2024 Restructuring and Impairment Charges

In the third quarter, the company made significant progress on its $10 billion cost reduction plan. The plan aims to drive operational efficiency and agility, accelerate profitable growth and create capacity for ongoing strategic investment in technology and manufacturing leadership. These initiatives include structural and operating realignment across the company, alongside reductions in headcount, operating expenses and capital expenditures. As a result of these actions, the company recognized $2.8 billion in restructuring charges in Q3 2024, $528 million of which are non-cash charges and $2.2 billion of which will be cash settled in the future.

Intel's third quarter results were also materially impacted by the following charges:

$3.1 billion of charges, substantially all of which were recognized in cost of sales, related to non-cash impairments and the acceleration of depreciation for certain manufacturing assets, a substantial majority of which related to the Intel 7 process node, based upon an evaluation of current process technology node capacities relative to projected market demand for Intel products and services;
$2.9 billion of non-cash charges associated with the impairment of goodwill for certain reporting units – primarily the Mobileye reporting unit – as well as certain acquired intangible assets; and
$9.9 billion of non-cash charges related to the establishment of a valuation allowance against U.S. deferred tax assets.

The restructuring charges of $2.8 billion and the asset impairment charges, including the allowance against our deferred tax assets, and accelerated depreciation of $15.9 billion increased GAAP loss per share attributable to Intel by $3.89. The restructuring charges, impairments of goodwill and intangible assets, and deferred tax asset valuation allowance had no impact on non-GAAP loss per share attributable to Intel. The impairment charges and accelerated depreciation for certain manufacturing assets of $3.1 billion increased GAAP and non-GAAP loss per share attributable to Intel by $0.57 and $0.63 per share, respectively. These charges were not incorporated into the guidance Intel provided for the third quarter of 2024.

Business Unit Summary

In October 2022, Intel announced an internal foundry operating model, which took effect in the first quarter of 2024 and created a foundry relationship between its Intel Products business (collectively CCG, DCAI and NEX) and its Intel Foundry business (including Foundry Technology Development, Foundry Manufacturing and Supply Chain and Foundry Services, formerly IFS). The foundry operating model is designed to reshape operational dynamics and drive greater transparency, accountability, and focus on costs and efficiency. In furtherance of Intel's internal foundry operating model, Intel announced in the third quarter of 2024 its intent to establish Intel Foundry as an independent subsidiary. The company also previously announced its intent to operate Altera ® as a standalone business beginning in the first quarter of 2024. Altera was previously included in DCAI's segment results. As a result of these changes, the company modified its segment reporting in the first quarter of 2024 to align to this new operating model. All prior-period segment data has been retrospectively adjusted to reflect the way the company internally receives information and manages and monitors its operating segment performance starting in fiscal year 2024. There are no changes to Intel’s consolidated financial statements for any prior periods.

Business Unit Revenue and Trends	Q3 2024	vs. Q3 2023
Intel Products:
Client Computing Group (CCG)	$7.3 billion	down	7%
Data Center and AI (DCAI)	$3.3 billion	up	9%
Network and Edge (NEX)	$1.5 billion	up	4%
Total Intel Products revenue	$12.2 billion	down	2%
Intel Foundry	$4.4 billion	down	8%
All other:
Altera	$412 million	down	44%
Mobileye	$485 million	down	8%
Other	$142 million	down	24%
Total all other revenue	$1,039 million	down	28%
Intersegment eliminations	$(4.3) billion
Total net revenue	$13.3 billion	down	6%

Intel Products Highlights

Intel announced plans with AMD to create the x86 Ecosystem Advisory Group, bringing together leaders from across the industry to help shape the future of x86. The Ecosystem Advisory Group is focused on simplifying software development, ensuring interoperability and interface consistency across vendors and providing developers with standard architectural tools and instructions. Broadcom, Dell, Google, HPE, HP Inc., Lenovo, Meta, Microsoft, Oracle, Red Hat have signed on as founding members.
CCG: Intel continues to lead the AI PC category and is on track to ship more than 100 million AI PCs by the end of 2025. In September, Intel launched its Intel® Core™ Ultra 200V series processors, code-named Lunar Lake, delivering several more hours of battery life and gains in performance, graphics and AI. This month, Intel launched the new Intel® Core™ Ultra 200S processors, code-named Arrow Lake, that will scale AI PC capabilities to desktop platforms and usher in the first enthusiast desktop AI PCs.
DCAI: Intel launched Intel® Xeon®, doubling the performance of the prior generation with increased core counts, memory bandwidth, and embedded AI acceleration. Intel also launched its Intel® Gaudi® 3 AI accelerators, delivering twice the networking bandwidth and 1.5x the memory bandwidth of its predecessor for large language model efficiency. IBM and Intel announced a global collaboration to deploy Intel Gaudi 3 AI accelerators as a service on IBM Cloud, aiming to help more cost-effectively scale enterprise AI and drive innovation underpinned with security and resiliency.
NEX: Intel achieved a significant design win earlier this month with KDDI, a major global telecom, announcing its selection of Samsung's vRAN 3.0 solution powered by 4th Gen Intel® Xeon® Scalable processors with Intel vRAN Boost.

Intel Foundry Highlights

Intel’s fifth node in four years, Intel 18A, will complete a historic pace of design and process innovation, returning Intel to process leadership. Intel 18A is healthy and continues to progress well, and the company’s two lead products, Panther Lake for client and Clearwater Forest for servers, have met early Intel 18A milestones ahead of next year's launches.
Intel and Amazon Web Services (AWS) are finalizing a multi-year, multi-billion-dollar commitment to expand the companies' existing partnership to include a new custom Xeon 6 chip for AWS on Intel 3 and a new AI fabric chip for AWS on Intel 18A.
The Biden-Harris Administration announced that Intel was awarded up to $3 billion in direct funding under the CHIPS and Science Act for the Secure Enclave program. The program is designed to expand the trusted manufacturing of leading-edge semiconductors for the U.S. government and fortify the domestic semiconductor supply chain.
Intel announced its intention to establish Intel Foundry as an independent subsidiary. This structure provides clearer separation for external foundry customers and suppliers between Intel Foundry and Intel Products. It also gives Intel future flexibility to evaluate independent sources of funding and optimize the capital structure of Intel Foundry and Intel Products.

Business Outlook

Intel's guidance for the fourth quarter of 2024 includes both GAAP and non-GAAP estimates as follows:

Q4 2024	GAAP	Non-GAAP
Revenue	$13.3-14.3 billion
Gross Margin	36.5%	39.5%
Tax Rate	(50)%	13%
Earnings (Loss) Per Share Attributable to Intel—Diluted	$(0.24)	$0.12

Reconciliations between GAAP and non-GAAP financial measures are included below. Actual results may differ materially from Intel’s business outlook as a result of, among other things, the factors described under “Forward-Looking Statements” below. The gross margin and EPS outlook are based on the mid-point of the revenue range.

Forward-Looking Statements

This release contains forward-looking statements that involve a number of risks and uncertainties. Words such as "accelerate", "achieve", "aim", "ambitions", "anticipate", "believe", "committed", "continue", "could", "designed", "estimate", "expect", "forecast", "future", "goals", "grow", "guidance", "intend", "likely", "may", "might", "milestones", "next generation", "objective", "on track", "opportunity", "outlook", "pending", "plan", "position", "possible", "potential", "predict", "progress", "ramp", "roadmap", "seek", "should", "strive", "targets", "to be", "upcoming", "will", "would", and variations of such words and similar expressions are intended to identify such forward-looking statements, which may include statements regarding:

our business plans and strategy and anticipated benefits therefrom, including with respect to our IDM 2.0 strategy, Smart Capital strategy, partnerships with Apollo and Brookfield, internal foundry model, updated reporting structure, and AI strategy;
projections of our future financial performance, including future revenue, gross margins, capital expenditures, and cash flows;
projected costs and yield trends;
future cash requirements, the availability, uses, sufficiency, and cost of capital resources, and sources of funding, including for future capital and R&D investments and for returns to stockholders, such as stock repurchases and dividends, and credit ratings expectations;
future products, services, and technologies, and the expected goals, timeline, ramps, progress, availability, production, regulation, and benefits of such products, services, and technologies, including future process nodes and packaging technology, product roadmaps, schedules, future product architectures, expectations regarding process performance, per-watt parity, and metrics, and expectations regarding product and process leadership;
investment plans and impacts of investment plans, including in the US and abroad;
internal and external manufacturing plans, including future internal manufacturing volumes, manufacturing expansion plans and the financing therefor, and external foundry usage;
future production capacity and product supply;
supply expectations, including regarding constraints, limitations, pricing, and industry shortages;
plans and goals related to Intel's foundry business, including with respect to anticipated customers, future manufacturing capacity and service, technology, and IP offerings;
expected timing and impact of acquisitions, divestitures, and other significant transactions, including the sale of our NAND memory business;
expected completion and impacts of restructuring activities and cost-saving or efficiency initiatives;
future social and environmental performance goals, measures, strategies, and results;
our anticipated growth, future market share, and trends in our businesses and operations;
projected growth and trends in markets relevant to our businesses;
anticipated trends and impacts related to industry component, substrate, and foundry capacity utilization, shortages, and constraints;
expectations regarding government incentives;
future technology trends and developments, such as AI;
future macro environmental and economic conditions;
geopolitical tensions and conflicts and their potential impact on our business;
tax- and accounting-related expectations;
expectations regarding our relationships with certain sanctioned parties; and
other characterizations of future events or circumstances.

Such statements involve many risks and uncertainties that could cause our actual results to differ materially from those expressed or implied, including those associated with:

the high level of competition and rapid technological change in our industry;
the significant long-term and inherently risky investments we are making in R&D and manufacturing facilities that may not realize a favorable return;
the complexities and uncertainties in developing and implementing new semiconductor products and manufacturing process technologies;
our ability to time and scale our capital investments appropriately and successfully secure favorable alternative financing arrangements and government grants;
implementing new business strategies and investing in new businesses and technologies;
changes in demand for our products;
macroeconomic conditions and geopolitical tensions and conflicts, including geopolitical and trade tensions between the US and China, the impacts of Russia's war on Ukraine, tensions and conflict affecting Israel and the Middle East, and rising tensions between mainland China and Taiwan;
the evolving market for products with AI capabilities;
our complex global supply chain, including from disruptions, delays, trade tensions and conflicts, or shortages;
product defects, errata and other product issues, particularly as we develop next-generation products and implement next-generation manufacturing process technologies;
potential security vulnerabilities in our products;
increasing and evolving cybersecurity threats and privacy risks;
IP risks including related litigation and regulatory proceedings;
the need to attract, retain, and motivate key talent;
strategic transactions and investments;
sales-related risks, including customer concentration and the use of distributors and other third parties;
our significantly reduced return of capital in recent years;
our debt obligations and our ability to access sources of capital;
complex and evolving laws and regulations across many jurisdictions;
fluctuations in currency exchange rates;
changes in our effective tax rate;
catastrophic events;
environmental, health, safety, and product regulations;
our initiatives and new legal requirements with respect to corporate responsibility matters; and
other risks and uncertainties described in this release, our 2023 Form 10-K, and our other filings with the SEC.

Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Readers are urged to carefully review and consider the various disclosures made in this release and in other documents we file from time to time with the SEC that disclose risks and uncertainties that may affect our business.

Unless specifically indicated otherwise, the forward-looking statements in this release do not reflect the potential impact of any divestitures, mergers, acquisitions, or other business combinations that have not been completed as of the date of this filing. In addition, the forward-looking statements in this release are based on management's expectations as of the date of this release, unless an earlier date is specified, including expectations based on third-party information and projections that management believes to be reputable. We do not undertake, and expressly disclaim any duty, to update such statements, whether as a result of new information, new developments, or otherwise, except to the extent that disclosure may be required by law.

About Intel

https://www.intc.com/news-events/press-releases/detail/1716/intel-reports-third-quarter-2024-financial-results

Lam Research Corporation

Lam Research Corporation is a global supplier of innovative wafer fabrication equipment and services to the semiconductor industry. Lam's equipment and services allow customers to build smaller and better performing devices. In fact, today, nearly every advanced chip is built with Lam technology. We combine superior systems engineering, technology leadership, and a strong values-based culture, with an unwavering commitment to our customers. Lam Research (Nasdaq: LRCX) is a FORTUNE 500® company headquartered in Fremont, Calif., with operations around the globe.

https://www.lamresearch.com/

Lam Research Corporation - Lam Research Corporation Reports Financial Results for the Quarter Ended September 29, 2024 – 23/10/2024

FREMONT, Calif., Oct. 23, 2024 /PRNewswire/ -- Lam Research Corporation (the "Company," "Lam," "Lam Research") today announced financial results for the quarter ended September 29, 2024 (the "September 2024 quarter").

On May 21, 2024, the Company announced a ten-for-one stock split which was effective October 2, 2024. All references made to share or per share amounts in this press release have been adjusted to reflect the stock split, unless otherwise indicated.

Highlights for the September 2024 quarter were as follows:

Revenue of $4.17 billion.
U.S. GAAP gross margin of 48.0%, U.S. GAAP operating income as a percentage of revenue of 30.3%, and U.S. GAAP diluted EPS of $0.86.
Non-GAAP gross margin of 48.2%, non-GAAP operating income as a percentage of revenue of 30.9%, and non-GAAP diluted EPS of $0.86.

Key Financial Data for the Quarters Ended September 29, 2024 and June 30, 2024 (in thousands, except per-share data, percentages, and basis points)
U.S. GAAP
	September 2024	June 2024	Change Q/Q
Revenue	$ 4,167,976	$ 3,871,507	+ 8 %
Gross margin as percentage of revenue	48.0 %	47.5 %	+ 50 bps
Operating income as percentage of revenue	30.3 %	29.1 %	+ 120 bps
Diluted EPS pre-split	$ 8.56	$ 7.78	+ 10 %
Diluted EPS post-split	$ 0.86	$ 0.78	+ 10 %

Non-GAAP
	September 2024	June 2024	Change Q/Q
Revenue	$ 4,167,976	$ 3,871,507	+ 8 %
Gross margin as percentage of revenue	48.2 %	48.5 %	- 30 bps
Operating income as percentage of revenue	30.9 %	30.7 %	+ 20 bps
Diluted EPS pre-split	$ 8.60	$ 8.14	+ 6 %
Diluted EPS post-split	$ 0.86	$ 0.81	+ 6 %

U.S. GAAP Financial Results

For the September 2024 quarter, revenue was $4,168 million, gross margin was $2,003 million, or 48.0% of revenue, operating expenses were $738 million, operating income was 30.3% of revenue, and net income was $1,116 million, or $0.86 per diluted share on a U.S. GAAP basis. This compares to revenue of $3,872 million, gross margin of $1,840 million, or 47.5% of revenue, operating expenses of $714 million, operating income of 29.1% of revenue, and net income of $1,020 million, or $0.78 per diluted share, for the quarter ended June 30, 2024 (the "June 2024 quarter").

Non-GAAP Financial Results

For the September 2024 quarter, non-GAAP gross margin was $2,009 million, or 48.2% of revenue, non-GAAP operating expenses were $722 million, non-GAAP operating income was 30.9% of revenue, and non-GAAP net income was $1,122 million, or $0.86 per diluted share. This compares to non-GAAP gross margin of $1,876 million, or 48.5% of revenue, non-GAAP operating expenses of $689 million, non-GAAP operating income of 30.7% of revenue, and non-GAAP net income of $1,067 million, or $0.81 per diluted share, for the June 2024 quarter.

"With continued strong execution, Lam delivered financial performance ahead of expectations," said Tim Archer, Lam Research's President and Chief Executive Officer. "Looking forward, etch and deposition are fundamental to enabling the next generation of semiconductors. Our investments in key technology inflections position us well to outperform WFE growth in 2025 and beyond."

Balance Sheet and Cash Flow Results

Cash, cash equivalents, and restricted cash balances increased to $6.1 billion at the end of the September 2024 quarter compared to $5.9 billion at the end of the June 2024 quarter. The increase was primarily the result of cash generated from operating activities, partially offset by cash deployed for capital return activities and capital expenditures during the quarter.

Deferred revenue at the end of the September 2024 quarter increased to $2,047 million compared to $1,552 million as of the end of the June 2024 quarter. Lam's deferred revenue balance does not include shipments to customers in Japan, to whom control does not transfer until customer acceptance. Shipments to customers in Japan are classified as inventory at cost until the time of acceptance. The estimated future revenue from shipments to customers in Japan was approximately $184 million as of September 29, 2024 and $98 million as of June 30, 2024.

Revenue

The geographic distribution of revenue during the September 2024 quarter is shown in the following table:

Region	Revenue
China	37 %
Korea	18 %
Taiwan	15 %
United States	12 %
Japan	7 %
Southeast Asia	6 %
Europe	5 %

The following table presents revenue disaggregated between system and customer support-related revenue:

	Three Months Ended
	September 29, 2024	June 30, 2024	September 24, 2023
	(In thousands)
Systems revenue	$ 2,392,730	$ 2,169,885	$ 2,056,655
Customer support-related revenue and other	1,775,246	1,701,622	1,425,407
	$ 4,167,976	$ 3,871,507	$ 3,482,062

Systems revenue includes sales of new leading-edge equipment in deposition, etch and clean markets.

Customer support-related revenue includes sales of customer service, spares, upgrades, and non-leading-edge equipment from our Reliant® product line.

Outlook

For the quarter ended December 29, 2024, Lam is providing the following guidance:

	U.S. GAAP			Reconciling Items		Non-GAAP

Revenue	$4.30 Billion	+/-	$300 Million	—		$4.30 Billion	+/-	$300 Million
Gross margin as a percentage of revenue	46.9 %	+/-	1 %	$ 2.8	Million	47.0 %	+/-	1 %
Operating income as a percentage of revenue	29.9 %	+/-	1 %	$ 3.4	Million	30.0 %	+/-	1 %
Net income per diluted share	$0.87	+/-	$0.10	$ 3.9	Million	$0.87	+/-	$0.10
Diluted share count	1.29 Billion			—		1.29 Billion

The information provided above is only an estimate of what the Company believes is realizable as of the date of this release and does not incorporate the potential impact of any business combinations, asset acquisitions, divestitures, restructuring, balance sheet valuation adjustments, financing arrangements, other investments, or other significant arrangements that may be completed or realized after the date of this release, except as described below. U.S. GAAP to non-GAAP reconciling items provided include only those items that are known and can be estimated as of the date of this release. Actual results will vary from this model and the variations may be material. Reconciling items included above are as follows:

Gross margin as a percentage of revenue - amortization related to intangible assets acquired through business combinations, $2.8 million.
Operating income as a percentage of revenue - amortization related to intangible assets acquired through business combinations, $3.4 million.
Net income per diluted share - amortization related to intangible assets acquired though business combinations, $3.4 million; amortization of debt discounts, $0.8 million; and associated tax benefit for non-GAAP items ($0.3 million); totaling $3.9 million.

Use of Non-GAAP Financial Results

In addition to U.S. GAAP results, this press release also contains non-GAAP financial results. The Company's non-GAAP results for both the September 2024 and June 2024 quarters exclude amortization related to intangible assets acquired through business combinations, the effects of elective deferred compensation-related assets and liabilities, amortization of note discounts, and the net income tax effect of non-GAAP items. The June 2024 non-GAAP results also exclude net restructuring charges, and transformational costs.

Management uses non-GAAP gross margin, operating expense, operating income, operating income as a percentage of revenue, net income, and net income per diluted share to evaluate the Company's operating and financial results. The Company believes the presentation of non-GAAP results is useful to investors for analyzing business trends and comparing performance to prior periods, along with enhancing investors' ability to view the Company's results from management's perspective. Tables presenting reconciliations of non-GAAP results to U.S. GAAP results are included at the end of this press release and on the Company's website at https://investor.lamresearch.com .

Caution Regarding Forward-Looking Statements

Statements made in this press release that are not of historical fact are forward-looking statements and are subject to the safe harbor provisions created by the Private Securities Litigation Reform Act of 1995. Such forward-looking statements relate to, but are not limited to: our outlook and guidance for future financial results, including revenue, gross margin, operating income and net income; our operational execution; the technologies that will enable the next generation of semiconductors; the extent of our investments in product development and the relevance of those investments to key technology inflections; our competitive positioning; wafer fabrication equipment ("WFE") spending growth; and our positioning and prospects for performance relative to WFE growth. Some factors that may affect these forward-looking statements include: trade regulations, export controls, trade disputes, and other geopolitical tensions may inhibit our ability to sell our products; business, political and/or regulatory conditions in the consumer electronics industry, the semiconductor industry and the overall economy may deteriorate or change; the actions of our customers and competitors may be inconsistent with our expectations; supply chain cost increases and other inflationary pressures have impacted and may continue to impact our profitability; supply chain disruptions or manufacturing capacity constraints may limit our ability to manufacture and sell our products; and natural and human-caused disasters, disease outbreaks, war, terrorism, political or governmental unrest or instability, or other events beyond our control may impact our operations and revenue in affected areas; as well as the other risks and uncertainties that are described in the documents filed or furnished by us with the Securities and Exchange Commission, including specifically the Risk Factors described in our annual report on Form 10-K for the fiscal year ended June 30, 2024. These uncertainties and changes could materially affect the forward-looking statements and cause actual results to vary from expectations in a material way. The Company undertakes no obligation to update the information or statements made in this release.

Lam Research Corporation is a global supplier of innovative wafer fabrication equipment and services to the semiconductor industry. Lam's equipment and services allow customers to build smaller and better performing devices. In fact, today, nearly every advanced chip is built with Lam technology. We combine superior systems engineering, technology leadership, and a strong values-based culture, with an unwavering commitment to our customers. Lam Research (Nasdaq: LRCX ) is a FORTUNE 500® company headquartered in Fremont, Calif., with operations around the globe. Learn more at www.lamresearch.com . (LRCX)

https://www.prnewswire.com/news-releases/lam-research-corporation-reports-financial-results-for-the-quarter-ended-september-29-2024-302285029.html

Macronix International Company Ltd

Macronix, a leading integrated device manufacturer in the Non-Volatile Memory (NVM) market, provides a full range of NOR Flash, NAND Flash, and ROM products. With its world-class R&D and manufacturing capability, Macronix continues to deliver high-quality, innovative and performance driven products to its customers in the consumer, communication, computing, industrial, automotive, networking and other segment markets.

https://www.mxic.com.tw/en-us/Pages/default.aspx

Macronix International Co., Ltd. - Macronix Announces Fourth Quarter 2024 Results – 13/2/2025

Hsinchu, Taiwan, R.O.C. – Macronix International Co., Ltd. (TSEC: 2337) today (February.13, 2025) announced the unaudited financial results for the fourth quarter ended December. 31, 2024. All numbers were prepared in compliance with the TIFRS on a consolidated basis.

Summary of the Fourth Quarter 2024(below, “this quarter"):

Net sales was NT$5,913 million (US$182.3 million).
Gross profit was NT$777 million (US$24.0 million) with 13.1% gross margin.
Operating loss was NT$ 1,753 million (US$ 54.1 million) with -29.6% operating margin.
Net loss was NT$ 1,551 million (US$47.8 million).
EPS was NT$-0.84; Book Value per Share was NT$23.72.

This Quarter Financial Highlights:

Net Sales

The Company announced this quarter net sales of NT$5,913 million (US$182.3 million), a decrease of 24% sequentially and an increase of 2% year-over-year.

Gross Profit and Gross Margin

Gross profit and Gross margin for this quarter was NT$777 million (US$24.0 million) and 13.1%, respectively. Gross profit was decreased 65% sequentially and decreased 30% year-over-year.

Operating Income and Operating Margin

Operating loss and Operating margin for this quarter was NT$ 1,753 million (US$54.1 million) and -29.6%. Operating loss was increased of 390% sequentially and an increase 53% year-over-year.

Net Income and EPS

Net loss after tax was NT$ 1,551 million (US$ 47.8 million).

EPS was NT$-0.84.

For this quarter, the book value was NT$23.72 per share.

This Quarter Sales Breakdown

Quarterly Consolidated Statements of Income

ppt: percentage points

For details, please refer to the audited financial reports of 4Q24.

Safe Harbor Statement

The statement contains certain forward-looking statements with respect to the results of operation, financial condition and current expectation. The forward-looking statements are subject to known and unknown uncertainties and risks that could cause actual results to differ materially from those expressed or implied by such statements.

Such risks and uncertainties include but are not limited to the impact of competitive products and pricing, timely design acceptance by our customers, timely introduction of new technologies, ability to ramp new products into volume, industry wide shifts in supply and demand for semiconductor products, industry overcapacity, availability of manufacturing capacity, financial stability in end markets, and other risks.

The forward-looking statements in this release reflect the current belief of Macronix as of the date of this release and Macronix undertakes no obligation to update these forward-looking statements for events or circumstances that occur subsequent to such date.

About Macronix International Co., Ltd.

For more information, please visit the Macronix's website: www.macronix.com

https://www.mxic.com.tw/en-us/about/news/Pages/20250213.aspx

Microsemi Corporation

https://www.microchip.com/

Micron Technology, Inc. - Micron Technology, Inc. Reports Results for the Fourth Quarter and Full Year of Fiscal 2024 – 25/9/2024

Achieved record data center revenue and NAND revenue in fiscal Q4

BOISE, Idaho, Sept. 25, 2024 (GLOBE NEWSWIRE) -- Micron Technology, Inc. (Nasdaq: MU) today announced results for its fourth quarter and full year of fiscal 2024, which ended August 29, 2024.

Fiscal Q4 2024 highlights

Revenue of $7.75 billion versus $6.81 billion for the prior quarter and $4.01 billion for the same period last year
GAAP net income of $887 million, or $0.79 per diluted share
Non-GAAP net income of $1.34 billion, or $1.18 per diluted share
Operating cash flow of $3.41 billion versus $2.48 billion for the prior quarter and $249 million for the same period last year

Fiscal 2024 highlights

Revenue of $25.11 billion versus $15.54 billion for the prior year
GAAP net income of $778 million, or $0.70 per diluted share
Non-GAAP net income of $1.47 billion, or $1.30 per diluted share
Operating cash flow of $8.51 billion versus $1.56 billion for the prior year

“Micron delivered 93% year-over-year revenue growth in fiscal Q4, as robust AI demand drove a strong ramp of our data center DRAM products and our industry-leading high bandwidth memory. Our NAND revenue record was led by data center SSD sales, which exceeded $1 billion in quarterly revenue for the first time,” said Micron Technology President and CEO Sanjay Mehrotra. “We are entering fiscal 2025 with the best competitive positioning in Micron's history. We forecast record revenue in fiscal Q1 and a substantial revenue record with significantly improved profitability in fiscal 2025.”

Quarterly Financial Results
(in millions, except per share amounts)	GAAP (1)									Non-GAAP (2)
(in millions, except per share amounts)	FQ4-24			FQ3-24			FQ4-23			FQ4-24			FQ3-24			FQ4-23

Revenue	$	7,750		$	6,811		$	4,010		$	7,750		$	6,811		$	4,010
Gross margin		2,737			1,832			(435)			2,826			1,917			(366)
percent of revenue		35.3	%		26.9	%		(10.8	%)		36.5	%		28.1	%		(9.1	%)
Operating expenses		1,215			1,113			1,037			1,081			976			842
Operating income (loss)		1,522			719			(1,472)			1,745			941			(1,208)
percent of revenue		19.6	%		10.6	%		(36.7	%)		22.5	%		13.8	%		(30.1	%)
Net income (loss)		887			332			(1,430)			1,342			702			(1,177)
Diluted earnings (loss) per share		0.79			0.30			(1.31)			1.18			0.62			(1.07)

Annual Financial Results
(in millions, except per share amounts)	GAAP (1)						Non-GAAP (2)
(in millions, except per share amounts)	FY-24			FY-23			FY-24			FY-23

Revenue	$	25,111		$	15,540		$	25,111		$	15,540
Gross margin		5,613			(1,416)			5,943			(1,196)
percent of revenue		22.4	%		(9.1	%)		23.7	%		(7.7	%)
Operating expenses		4,309			4,329			4,008			3,623
Operating income (loss)		1,304			(5,745)			1,935			(4,819)
percent of revenue		5.2	%		(37.0	%)		7.7	%		(31.0	%)
Net income (loss)		778			(5,833)			1,472			(4,862)
Diluted earnings (loss) per share		0.70			(5.34)			1.30			(4.45)

Investments in capital expenditures, net (2) were $3.08 billion for the fourth quarter of 2024 and $8.12 billion for the full year of 2024, which resulted in adjusted free cash flows (2) of $323 million for the fourth quarter of 2024 and $386 million for the full year of 2024. Micron ended the year with cash, marketable investments, and restricted cash of $9.16 billion. On September 25, 2024, Micron’s Board of Directors declared a quarterly dividend of $0.115 per share, payable in cash on October 23, 2024, to shareholders of record as of the close of business on October 7, 2024.

Business Outlook

The following table presents Micron’s guidance for the first quarter of 2025:

FQ1-25	GAAP (1) Outlook	Non-GAAP (2) Outlook

Revenue	$8.70 billion ± $200 million	$8.70 billion ± $200 million
Gross margin	38.5% ± 1.0%	39.5% ± 1.0%
Operating expenses	$1.211 billion ± $15 million	$1.085 billion ± $15 million
Diluted earnings per share	$1.54 ± $0.08	$1.74 ± $0.08

Further information regarding Micron’s business outlook is included in the prepared remarks and slides, which have been posted at investors.micron.com.

Investor Webcast

Micron will host a conference call on Wednesday, September 25, 2024 at 2:30 p.m. Mountain Time to discuss its fourth quarter financial results and provide forward-looking guidance for its first quarter. A live webcast of the call will be available online at investors.micron.com. A webcast replay will be available for one year after the call. For Investor Relations and other company updates, follow us on X @MicronTech.

About Micron Technology, Inc.

We are an industry leader in innovative memory and storage solutions transforming how the world uses information to enrich life for all. With a relentless focus on our customers, technology leadership, and manufacturing and operational excellence, Micron delivers a rich portfolio of high-performance DRAM, NAND, and NOR memory and storage products through our Micron® and Crucial® brands. Every day, the innovations that our people create fuel the data economy, enabling advances in artificial intelligence (AI) and compute-intensive applications that unleash opportunities — from the data center to the intelligent edge and across the client and mobile user experience. To learn more about Micron Technology, Inc. (Nasdaq: MU), visit micron.com.

© 2024 Micron Technology, Inc. All rights reserved. Micron, the Micron logo, and all other Micron trademarks are the property of Micron Technology, Inc. All other trademarks are the property of their respective owners.

Forward-Looking Statements

This press release contains forward-looking statements regarding our industry, our strategic position, and our financial and operating results, including our guidance for the first quarter and full year fiscal 2025. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially. Please refer to the documents we file with the Securities and Exchange Commission, including our most recent Form 10-K and Form 10-Q. These documents contain and identify important factors that could cause our actual results to differ materially from those contained in these forward-looking statements. These certain factors can be found at investors.micron.com/risk-factor. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance, or achievements. We are under no duty to update any of the forward-looking statements to conform these statements to actual results.

https://investors.micron.com/news-releases/news-release-details/micron-technology-inc-reports-results-fourth-quarter-and-full-7

Nvidia Corporation

NVIDIA ’s (NASDAQ: NVDA) invention of the GPU in 1999 sparked the growth of the PC gaming market and has redefined modern computer graphics, high performance computing and artificial intelligence. The company’s pioneering work in accelerated computing and AI is reshaping trillion-dollar industries, such as transportation, healthcare and manufacturing, and fueling the growth of many others.

https://www.nvidia.com/en-us/

Nvidia Corporation - NVIDIA Announces Financial Results for Second Quarter Fiscal 2025 – 28/8/2024

Record quarterly revenue of $30.0 billion, up 15% from Q1 and up 122% from a year ago
Record quarterly Data Center revenue of $26.3 billion, up 16% from Q1 and up 154% from a year ago

SANTA CLARA, Calif., Aug. 28, 2024 (GLOBE NEWSWIRE) -- NVIDIA (NASDAQ: NVDA) today reported revenue for the second quarter ended July 28, 2024, of $30.0 billion, up 15% from the previous quarter and up 122% from a year ago.

For the quarter, GAAP earnings per diluted share was $0.67, up 12% from the previous quarter and up 168% from a year ago. Non-GAAP earnings per diluted share was $0.68, up 11% from the previous quarter and up 152% from a year ago.

“Hopper demand remains strong, and the anticipation for Blackwell is incredible,” said Jensen Huang, founder and CEO of NVIDIA. “NVIDIA achieved record revenues as global data centers are in full throttle to modernize the entire computing stack with accelerated computing and generative AI.”

“Blackwell samples are shipping to our partners and customers. Spectrum-X Ethernet for AI and NVIDIA AI Enterprise software are two new product categories achieving significant scale, demonstrating that NVIDIA is a full-stack and data center-scale platform. Across the entire stack and ecosystem, we are helping frontier model makers to consumer internet services, and now enterprises. Generative AI will revolutionize every industry.”

During the first half of fiscal 2025, NVIDIA returned $15.4 billion to shareholders in the form of shares repurchased and cash dividends. As of the end of the second quarter, the company had $7.5 billion remaining under its share repurchase authorization. On August 26, 2024, the Board of Directors approved an additional $50.0 billion in share repurchase authorization, without expiration.

NVIDIA will pay its next quarterly cash dividend of $0.01 per share on October 3, 2024, to all shareholders of record on September 12, 2024.

On June 7, 2024, NVIDIA completed a ten-for-one forward stock split. All share and per-share amounts presented have been retroactively adjusted to reflect the stock split.

Q2 Fiscal 2025 Summary

GAAP
($ in millions, except earnings per share)	Q2 FY25		Q1 FY25		Q2 FY24		Q/Q	Y/Y
Revenue	$30,040		$26,044		$13,507		Up 15%	Up 122%
Gross margin		75.1%		78.4%		70.1%	Down 3.3 pts	Up 5.0 pts
Operating expenses	$3,932		$3,497		$2,662		Up 12%	Up 48%
Operating income	$18,642		$16,909		$6,800		Up 10%	Up 174%
Net income	$16,599		$14,881		$6,188		Up 12%	Up 168%
Diluted earnings per share	$0.67		$0.60		$0.25		Up 12%	Up 168%

Non-GAAP
($ in millions, except earnings per share)	Q2 FY25		Q1 FY25		Q2 FY24		Q/Q	Y/Y
Revenue	$30,040		$26,044		$13,507		Up 15%	Up 122%
Gross margin		75.7%		78.9%		71.2%	Down 3.2 pts	Up 4.5 pts
Operating expenses	$2,792		$2,501		$1,838		Up 12%	Up 52%
Operating income	$19,937		$18,059		$7,776		Up 10%	Up 156%
Net income	$16,952		$15,238		$6,740		Up 11%	Up 152%
Diluted earnings per share	$0.68		$0.61		$0.27		Up 11%	Up 152%

Outlook

NVIDIA’s outlook for the third quarter of fiscal 2025 is as follows:

Revenue is expected to be $32.5 billion, plus or minus 2%.
GAAP and non-GAAP gross margins are expected to be 74.4% and 75.0%, respectively, plus or minus 50 basis points. For the full year, gross margins are expected to be in the mid-70% range.
GAAP and non-GAAP operating expenses are expected to be approximately $4.3 billion and $3.0 billion, respectively. Full-year operating expenses are expected to grow in the mid- to upper-40% range.
GAAP and non-GAAP other income and expense are expected to be an income of approximately $350 million, excluding gains and losses from non-affiliated investments and publicly-held equity securities.
GAAP and non-GAAP tax rates are expected to be 17%, plus or minus 1%, excluding any discrete items.

Highlights

NVIDIA achieved progress since its previous earnings announcement in these areas:

Data Center

Second-quarter revenue was a record $26.3 billion, up 16% from the previous quarter and up 154% from a year ago.
Announced that the combination of NVIDIA H200 Tensor Core and NVIDIA Blackwell architecture B200 Tensor Core processors swept the latest industry-standard MLPerf benchmark results for inference.
Revealed that H200 GPU-powered systems are now available on CoreWeave , the first cloud service provider to announce general availability.
Unveiled an array of Blackwell systems featuring NVIDIA Grace™ CPUs, networking and infrastructure from top manufacturers such as GIGABYTE, QCT and Wiwynn.
Reported broad adoption of the NVIDIA Spectrum-X™ Ethernet networking platform by cloud service providers, GPU cloud providers and enterprises, as well as partners incorporating it into their offerings.
Released NVIDIA NIM™ for broad availability to developers globally and announced more than 150 companies are integrating microservices into their platforms to speed generative AI application development.
Unveiled an inference service with Hugging Face powered by NIM microservices on NVIDIA DGX™ Cloud to enable developers to deploy popular large language models.
Introduced an NVIDIA AI Foundry service and NIM inference microservices to accelerate generative AI for the world’s enterprises with the Llama 3.1 collection of models.
Announced Japan advanced its sovereign AI capabilities with its ABCI 3.0 supercomputer , integrating H200 GPUs and NVIDIA Quantum-2 InfiniBand networking.
Accelerated quantum computing efforts at national supercomputing centers around the world with the open-source NVIDIA CUDA-Q™ platform.

Gaming and AI PC

Second-quarter Gaming revenue was $2.9 billion, up 9% from the previous quarter and up 16% from a year ago.
Announced NVIDIA ACE , a suite of generative AI technologies that bring digital humans to life, now includes NVIDIA Nemotron-4 4B, a small language model for on-device inference, and is available in early access for RTX AI PCs.
Introduced Project G-Assist , a technology preview demonstrating the power of AI agents to assist gamers and creators in real time.
Announced new NVIDIA GeForce RTX and DLSS titles , including Indiana Jones and the Great Circle, Dune: Awakening and Dragon Age: The Veilguard, bringing the total number of RTX games and apps to over 600.
Surpassed 2,000 games on GeForce NOW , expanded the service into Japan and announced launches of Black Myth: Wukong and Star Wars Outlaws.

Professional Visualization

Second-quarter revenue was $454 million, up 6% from the previous quarter and up 20% from a year ago.
Introduced generative AI models and NIM microservices for OpenUSD to accelerate workflows and the development of industrial digital twins and robotics.
Announced major Taiwanese electronics makers are creating more autonomous factories with a new reference workflow that combines NVIDIA Metropolis vision AI, NVIDIA Omniverse™ simulation and NVIDIA Isaac™ AI robot development.

Automotive and Robotics

Second-quarter Automotive revenue was $346 million, up 5% from the previous quarter and up 37% from a year ago.
Unveiled the world’s leaders in robot development, including BYD Electronics, Siemens and Teradyne Robotics, are adopting the Isaac robotics platform for R&D and production.
Announced Omniverse Cloud Sensor RTX™ microservices to enable physically accurate sensor simulation to speed development of autonomous machines.
Won the Autonomous Grand Challenge at the Computer Vision and Pattern Recognition conference in the category of End-to-End Driving at Scale for advances in building physical, generative AI applications for autonomous vehicle development.

Non-GAAP Measures

To supplement NVIDIA’s condensed consolidated financial statements presented in accordance with GAAP, the company uses non-GAAP measures of certain components of financial performance. These non-GAAP measures include non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating expenses, non-GAAP income from operations, non-GAAP other income (expense), net, non-GAAP net income, non-GAAP net income, or earnings, per diluted share, and free cash flow. For NVIDIA’s investors to be better able to compare its current results with those of previous periods, the company has shown a reconciliation of GAAP to non-GAAP financial measures. These reconciliations adjust the related GAAP financial measures to exclude stock-based compensation expense, acquisition-related and other costs, other, gains from non-affiliated investments and publicly-held equity securities, net, interest expense related to amortization of debt discount, and the associated tax impact of these items where applicable. Free cash flow is calculated as GAAP net cash provided by operating activities less both purchases related to property and equipment and intangible assets and principal payments on property and equipment and intangible assets. NVIDIA believes the presentation of its non-GAAP financial measures enhances the user’s overall understanding of the company’s historical financial performance. The presentation of the company’s non-GAAP financial measures is not meant to be considered in isolation or as a substitute for the company’s financial results prepared in accordance with GAAP, and the company’s non-GAAP measures may be different from non-GAAP measures used by other companies.

https://www.globenewswire.com/news-release/2024/08/28/2937384/0/en/NVIDIA-Announces-Financial-Results-for-Second-Quarter-Fiscal-2025.html

NXP Semiconductors N.V.

NXP Semiconductors N.V. (NASDAQ: NXPI) is the trusted partner for innovative solutions in the automotive, industrial & IoT, mobile, and communications infrastructure markets. NXP's "Brighter Together" approach combines leading-edge technology with pioneering people to develop system solutions that make the connected world better, safer, and more secure. The company has operations in more than 30 countries and posted revenue of $13.28 billion in 2023. Find out more at www.nxp.com .

https://www.nxp.com/

NXP Semiconductors N.V. - NXP Semiconductors Reports Fourth Quarter and Full-Year 2024 Results – 3/2/2025

EINDHOVEN, The Netherlands, Feb. 03, 2025 (GLOBE NEWSWIRE) -- NXP Semiconductors N.V. (NASDAQ: NXPI) today reported financial results for the fourth quarter and full-year, which ended December 31, 2024. “NXP delivered full-year 2024 revenue of $12.61 billion, a decrease of 5 percent year-on-year. In the fourth quarter, revenue was $3.11 billion, a decrease of 9 percent year-on-year, modestly above the mid-point of our guidance range. In review, NXP delivered resilient results throughout 2024, reflecting solid execution, consistent gross margin, and healthy free cash flow generation despite a challenging market environment. We rigorously focus on managing what is in our control, to navigate a soft landing while executing our growth strategy,” said Kurt Sievers, NXP President and Chief Executive Officer.

Key Highlights for the Fourth Quarter and Full-year 2024:

Fourth quarter revenue was $3.11 billion, down 9 percent year-on-year. Full-year revenue was 12.61 billion, down 5 percent year-on-year;
Fourth quarter GAAP gross margin was 53.9 percent, GAAP operating margin was 21.7 percent and GAAP diluted Net Income per Share was $1.93. Full year GAAP gross margin was 56.4 percent, GAAP operating margin was 27.1 percent and GAAP diluted Net Income per Share was $9.73;
Fourth quarter Non-GAAP gross margin was 57.5 percent, non-GAAP operating margin was 34.2 percent, and non-GAAP diluted Net Income per Share was $3.18. Full-year Non-GAAP gross margin was 58.1 percent, non-GAAP operating margin was 34.6 percent, and non-GAAP diluted Net Income per Share was $13.09;
Fourth quarter cash flow from operations was $391 million, with net capex investments of $99 million, resulting in non-GAAP free cash flow of $292 million. Full-year cash flow from operations was $2,782 million, with net capex investments of $693 million, resulting in non-GAAP free cash flow of $2,089 million;
During the fourth quarter of 2024, NXP continued to execute its capital return policy with the payment of $258 million in cash dividends, and the repurchase of $455 million of its common shares. The total capital return of $713 million in the quarter represented 244 percent of fourth quarter non-GAAP free cash flow. On a trailing twelve month basis, capital return to shareholders represented $2.4 billion or 115 percent of non-GAAP free cash flow. The interim dividend for the fourth quarter 2024 was paid in cash on January 8, 2025 to shareholders of record as of December 5, 2024. Subsequent to the end of the fourth quarter, between January 1, 2025 and January 31, 2025, NXP executed via a 10b5-1 program additional share repurchases totaling $101 million;
On October 15, 2024, NXP introduced the S32J family of high-performance automotive Ethernet switches and network controllers to enable the next generation of software-defined vehicle development (SDV). The S32J family shares a common switch core with the NXP S32 portfolio of automotive processing devices to maximize software re-use and simplify network configuration and integration;
On October 23, 2024, NXP announced Audi has adopted the Trimension® NCJ29Dx Ultra Wide Band (UWB) product family in its advanced UWB platform delivering precise and secure real-time localization to enable hands-free secure car access via smart mobile device and other UWB-based features. Cars featuring NXP’s Trimension UWB devices, including the Audi Q6 e-tron, will hit the road in 2024;
On November 12, 2024, NXP announced the i.MX 94 family, the newest addition to its i.MX 9 series of applications processors, designed for industrial control, telematics, gateways, and building and energy control. The i.MX94 family includes Ethernet Time Sensitive Networking (TSN) switching capabilities;
On November 12, 2024, NXP announced industry-first wireless battery management system (BMS) based on Ultra-Wideband (UWB) connectivity, expanding its "FlexCom" family of wired and wireless BMS solutions. The new UWB-based BMS solutions enable increased battery energy density, decoupling the mechanical and electrical development for faster time to market;
On December 17, 2024, NXP announced it had entered into an definitive agreement to acquire Aviva Links, a provider of Automotive SerDes Alliance (ASA) compliant in-vehicle connectivity solutions in an all-cash transaction valued at $242.5 million. The acquisition of Aviva Links expands NXP's market leading in-vehicle networking (IVN) portfolio with the industry’s most advanced ASA compliant portfolio, supporting SerDes point-to-point (ASA-ML) and Ethernet-based connectivity (ASA-MLE) with data rates up to 16 Gbps;
On January 7, 2025, NXP announced it had entered into an definitive agreement to acquire TT Tech Auto, a leader in safety-critical systems and middleware for software-defined vehicles (SDVs). The all-cash transaction is valued at $625 million, and accelerates the NXP CoreRide platform, enabling automakers to reduce complexity, maximize system performance and shorten time to market. TT Tech Auto’s MotionWise middleware platform has a proven industry track record and is designed to manage the interconnected systems in SDVs, prioritizing safety-critical functions while ensuring seamless integration.

Summary of Reported Fourth Quarter and Full-year 2024 ($ millions, unaudited) (1)

	Q4 2024				Q3 2024				Q4 2023				Q - Q			Y - Y			2024				2023				Y - Y
Total Revenue	$	3,111		$		3,250		$		3,422		-4		%	-9		%	$		12,614		$		13,276		-5		%
GAAP Gross Profit	$	1,678		$		1,866		$		1,937		-10		%	-13		%	$		7,119		$		7,553		-6		%
Gross Profit Adjustments (i)	$	(111)		$		(26)		$		(73)								$		(213)		$		(209)
Non-GAAP Gross Profit	$	1,789		$		1,892		$		2,010		-5		%	-11		%	$		7,332		$		7,762		-6		%
GAAP Gross Margin		53.9	%			57.4	%			56.6	%									56.4	%			56.9	%
Non-GAAP Gross Margin		57.5	%			58.2	%			58.7	%									58.1	%			58.5	%
GAAP Operating Income (Loss)	$	675		$		990		$		907		-32		%	-26		%	$		3,417		$		3,661		-7		%
Operating Income Adjustments (i)	$	(390)		$		(163)		$		(312)								$		(952)		$		(1,001)
Non-GAAP Operating Income	$	1,065		$		1,153		$		1,219		-8		%	-13		%	$		4,369		$		4,662		-6		%
GAAP Operating Margin		21.7	%			30.5	%			26.5	%									27.1	%			27.6	%
Non-GAAP Operating Margin		34.2	%			35.5	%			35.6	%									34.6	%			35.1	%
GAAP Net Income (Loss) attributable to Stockholders	$	495		$		718		$		697								$		2,510		$		2,797
Net Income Adjustments (i)	$	(322)		$		(172)		$		(269)								$		(866)		$		(864)
Non-GAAP Net Income (Loss) Attributable to Stockholders	$	817		$		890		$		966								$		3,376		$		3,661
GAAP diluted Net Income (Loss) per Share (ii)	$	1.93		$		2.79		$		2.68								$		9.73		$		10.70
Non-GAAP diluted Net Income (Loss) per Share (ii)	$	3.18		$		3.45		$		3.71								$		13.09		$		14.01

Additional information
	Q4 2024		Q3 2024		Q4 2023		Q - Q		Y - Y		2024		2023		Y - Y
Automotive	$	1,790	$	1,829	$	1,899	-2	%	-6	%	$	7,151	$	7,484	-4	%
Industrial & IoT	$	516	$	563	$	662	-8	%	-22	%	$	2,269	$	2,351	-3	%
Mobile	$	396	$	407	$	406	-3	%	-2	%	$	1,497	$	1,327	13	%
Comm. Infra. & Other	$	409	$	451	$	455	-9	%	-10	%	$	1,697	$	2,114	-20	%
DIO		151		149		132
DPO		65		60		72
DSO		30		30		24
Cash Conversion Cycle		116		119		84
Channel Inventory (weeks)		8		8		7
Gross Financial Leverage (iii)	2.1x		1.9x		2.1x
Net Financial Leverage (iv)	1.5x		1.3x		1.3x

Additional Information for the Fourth Quarter and Full-year 2024:
For an explanation of GAAP to non-GAAP adjustments, please see “Non-GAAP Financial Measures”.
Refer to Table 1 below for the weighted average number of diluted shares for the presented periods.
Gross financial leverage is defined as gross debt divided by trailing twelve months adjusted EBITDA.
Net financial leverage is defined as net debt divided by trailing twelve months adjusted EBITDA.

Guidance for the First Quarter 2025: ($ millions, except Per Share data) (1)

	Guidance Range
	GAAP			Reconciliation	non-GAAP
	Low	Mid	High		Low	Mid	High
Total Revenue	$2,725	$2,825	$2,925		$2,725	$2,825	$2,925
Q-Q	-12%	-9%	-6%		-12%	-9%	-6%
Y-Y	-13%	-10%	-6%		-13%	-10%	-6%
Gross Profit	$1,489	$1,559	$1,630	$(31)	$1,520	$1,590	$1,661
Gross Margin	54.6%	55.2%	55.7%		55.8%	56.3%	56.8%
Operating Income (loss)	$652	$712	$773	$(178)	$830	$890	$951
Operating Margin	23.9%	25.2%	26.4%		30.5%	31.5%	32.5%
Financial Income (expense)	$(90)	$(90)	$(90)	$(10)	$(80)	$(80)	$(80)
Tax rate	18.0%-19.0%				17.0%-18.0%
Equity-accounted investees	$(4)	$(4)	$(4)	$(3)	$(1)	$(1)	$(1)
Non-controlling interests	$(5)	$(5)	$(5)		$(5)	$(5)	$(5)
Shares - diluted	256.0	256.0	256.0		256.0	256.0	256.0
Earnings Per Share - diluted	$1.75	$1.95	$2.14		$2.39	$2.59	$2.79

Note (1) Additional Information:

GAAP Gross Profit is expected to include Purchase Price Accounting (“PPA”) effects, $(7) million; Share-based Compensation, $(16) million; Other Incidentals, $(8) million;
GAAP Operating Income (loss) is expected to include PPA effects, $(35) million; Share-based Compensation, $(128) million; Restructuring and Other Incidentals, $(15) million;
GAAP Financial Income (expense) is expected to include Other financial expense $(10) million;
GAAP Results relating to equity-accounted investees is expected to include results relating to non-foundry equity-accounted investees $(3) million;
GAAP diluted EPS is expected to include the adjustments noted above for PPA effects, Share-based Compensation, Restructuring and Other Incidentals in GAAP Operating Income (loss), the adjustment for Other financial expense, the adjustment for Non-controlling interests & Other and the adjustment on Tax due to the earlier mentioned adjustments

NXP has based the guidance included in this release on judgments and estimates that management believes are reasonable given its assessment of historical trends and other information reasonably available as of the date of this release. Please note, the guidance included in this release consists of predictions only, and is subject to a wide range of known and unknown risks and uncertainties, many of which are beyond NXP's control. The guidance included in this release should not be regarded as representations by NXP that the estimated results will be achieved. Actual results may vary materially from the guidance we provide today. In relation to the use of non-GAAP financial information see the note regarding "Non-GAAP Financial Measures" below. For the factors, risks, and uncertainties to which judgments, estimates and forward-looking statements generally are subject see the note regarding "Forward-looking Statements." We undertake no obligation to publicly update or revise any forward-looking statements, including the guidance set forth herein, to reflect future events or circumstances.

Non-GAAP Financial Measures

In managing NXP's business on a consolidated basis, management develops an annual operating plan, which is approved by our Board of Directors, using non-GAAP financial measures, that are not in accordance with, nor an alternative to, U.S. generally accepted accounting principles (“GAAP”). In measuring performance against this plan, management considers the actual or potential impacts on these non-GAAP financial measures from actions taken to reduce costs with the goal of increasing our gross margin and operating margin and when assessing appropriate levels of research and development efforts. In addition, management relies upon these non-GAAP financial measures when making decisions about product spending, administrative budgets, and other operating expenses. We believe that these non-GAAP financial measures, when coupled with the GAAP results and the reconciliations to corresponding GAAP financial measures, provide a more complete understanding of the Company’s results of operations and the factors and trends affecting NXP’s business. We believe that they enable investors to perform additional comparisons of our operating results, to assess our liquidity and capital position and to analyze financial performance excluding the effect of expenses unrelated to core operating performance, certain non-cash expenses and share-based compensation expense, which may obscure trends in NXP's underlying performance. This information also enables investors to compare financial results between periods where certain items may vary independent of business performance, and allow for greater transparency with respect to key metrics used by management.

These non-GAAP financial measures are provided in addition to, and not as a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP. The presentation of these and other similar items in NXP’s non-GAAP financial results should not be interpreted as implying that these items are non-recurring, infrequent, or unusual. Reconciliations of these non-GAAP measures to the most comparable measures calculated in accordance with GAAP are provided in the financial statements portion of this release in a schedule entitled “Financial Reconciliation of GAAP to non-GAAP Results (unaudited).” Please refer to the NXP Historic Financial Model file found on the Financial Information page of the Investor Relations section of our website at https://investors.nxp.com for additional information related to our rationale for using these non-GAAP financial measures, as well as the impact of these measures on the presentation of NXP's operations.

In addition to providing financial information on a basis consistent with GAAP, NXP also provides the following selected financial measures on a non-GAAP basis: (i) Gross profit, (ii) Gross margin, (iii) Research and development, (iv) Selling, general and administrative, (v) Amortization of acquisition-related intangible assets, (vi) Other income, (vii) Operating income (loss), (viii) Operating margin, (ix) Financial Income (expense), (x) Income tax benefit (provision), (xi) Results relating to non-foundry equity-accounted investees, (xii) Net income (loss) attributable to stockholders, (xiii) Earnings per Share - Diluted, (xiv) EBITDA, adjusted EBITDA and trailing 12 month adjusted EBITDA, and (xv) free cash flow, trailing 12 month free cash flow and trailing 12 month free cash flow as a percent of Revenue. The non-GAAP information excludes, where applicable, the amortization of acquisition related intangible assets, the purchase accounting effect on inventory and property, plant and equipment, merger related costs (including integration costs), certain items related to divestitures, share-based compensation expense, restructuring and asset impairment charges, extinguishment of debt, foreign exchange gains and losses, income tax effect on adjustments described above and results from non-foundry equity-accounted investments.

The difference in the benefit (provision) for income taxes between our GAAP and non-GAAP results relates to the income tax effects of the GAAP to non-GAAP adjustments that we make and the income tax effect of any discrete items that occur in the interim period. Discrete items primarily relate to unexpected tax events that may occur as these amounts cannot be forecasted (e.g., the impact of changes in tax law and/or rates, changes in estimates or resolved tax audits relating to prior year tax provisions, the excess or deficit tax effects on share-based compensation, etc.).

About NXP Semiconductors

NXP Semiconductors N.V. (NASDAQ: NXPI) is the trusted partner for innovative solutions in the automotive, industrial & IoT, mobile, and communications infrastructure markets. NXP's "Brighter Together" approach combines leading-edge technology with pioneering people to develop system solutions that make the connected world better, safer, and more secure. The company has operations in more than 30 countries and posted revenue of $12.61 billion in 2024. Find out more at www.nxp.com .

Forward-looking Statements

This document includes forward-looking statements which include statements regarding NXP’s business strategy, financial condition, results of operations, market data, as well as any other statements which are not historical facts. By their nature, forward-looking statements are subject to numerous factors, risks and uncertainties that could cause actual outcomes and results to be materially different from those projected. These factors, risks and uncertainties include the following: market demand and semiconductor industry conditions; our ability to successfully introduce new technologies and products; the demand for the goods into which NXP’s products are incorporated; trade disputes between the U.S. and China, potential increase of barriers to international trade and resulting disruptions to NXP's established supply chains; the impact of government actions and regulations, including restrictions on the export of US-regulated products and technology; increasing and evolving cybersecurity threats and privacy risks, including theft of sensitive or confidential data; the ability to generate sufficient cash, raise sufficient capital or refinance corporate debt at or before maturity to meet both NXP's debt service and research and development and capital investment requirements; our ability to accurately estimate demand and match our production capacity accordingly or obtain supplies from third-party producers to meet demand; our access to production capacity from third-party outsourcing partners, and any events that might affect their business or NXP’s relationship with them; our ability to secure adequate and timely supply of equipment and materials from suppliers; our ability to avoid operational problems and product defects and, if such issues were to arise, to correct them quickly; our ability to form strategic partnerships and joint ventures and to successfully cooperate with our alliance partners; our ability to win competitive bid selection processes; our ability to develop products for use in customers’ equipment and products; the ability to successfully hire and retain key management and senior product engineers; global hostilities, including the invasion of Ukraine by Russia and resulting regional instability, sanctions and any other retaliatory measures taken against Russia and the continued hostilities and the armed conflict in the Middle East, which could adversely impact the global supply chain, disrupt our operations or negatively impact the demand for our products in our primary end markets; the ability to maintain good relationships with NXP's suppliers; and a change in tax laws could have an effect on our estimated effective tax rate. In addition, this document contains information concerning the semiconductor industry, our end markets and business generally, which is forward-looking in nature and is based on a variety of assumptions regarding the ways in which the semiconductor industry, our end markets and business will develop. NXP has based these assumptions on information currently available, if any one or more of these assumptions turn out to be incorrect, actual results may differ from those predicted. While NXP does not know what impact any such differences may have on its business, if there are such differences, its future results of operations and its financial condition could be materially adversely affected. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak to results only as of the date the statements were made. Except for any ongoing obligation to disclose material information as required by the United States federal securities laws, NXP does not have any intention or obligation to publicly update or revise any forward-looking statements after we distribute this document, whether to reflect any future events or circumstances or otherwise. For a discussion of potential risks and uncertainties, please refer to the risk factors listed in our SEC filings. Copies of our SEC filings are available on our Investor Relations website, www.nxp.com/investor or from the SEC website, www.sec.gov .

https://media.nxp.com/news-releases/news-release-details/nxp-semiconductors-reports-fourth-quarter-and-full-year-2024

ON Semiconductor Corporation (Nasdaq: ON)

onsemi (Nasdaq: ON) is driving disruptive innovations to help build a better future. With a focus on automotive and industrial end-markets, the company is accelerating change in megatrends such as vehicle electrification and safety, sustainable energy grids, industrial automation, and 5G and cloud infrastructure. onsemi offers a highly differentiated and innovative product portfolio, delivering intelligent power and sensing technologies that solve the world’s most complex challenges and leads the way to creating a safer, cleaner and smarter world. onsemi is recognized as a Fortune 500 ® company and included in the Nasdaq-100 Index ® and S&P 500 ® index. Learn more about onsemi at www.onsemi.com .

https://www.onsemi.com/

ON Semiconductor Corporation - onsemi Reports First Quarter 2025 Results – 5/5/2025

Returned 66% of first quarter Free Cash Flow to stockholders through share repurchases

SCOTTSDALE, Ariz., – May 5, 2025 – onsemi (the “Company”) (Nasdaq: ON) today announced its first quarter 2025 results with the following highlights:

Revenue of $1,445.7 million
GAAP gross margin and non-GAAP gross margin of 20.3% and 40.0%, respectively
GAAP operating margin and non-GAAP operating margin of (39.7)% and 18.3%, respectively
GAAP diluted loss per share and non-GAAP diluted earnings per share of $(1.15) and $0.55, respectively
Cash from operations of $602 million with free cash flow of $455 million, increasing 72% year-over-year to 31% of revenue

“Our results in the first quarter reflect the disciplined approach we have maintained through this downturn – managing our cost structure, right-sizing our manufacturing footprint, and rationalizing our portfolio – enabling us to generate increased free cash flow. We are committed to long-term value creation and we are accelerating our capital return to shareholders while investing in our future growth,” said Hassane El-Khoury, president and CEO, onsemi. “We continue to see strong design win momentum, driven by the industry-leading performance of our products and have secured key wins with major global customers across all end-markets.”

Q2 2025 Outlook

* Diluted shares outstanding can vary as a result of, among other things, the vesting of restricted stock units, the incremental dilutive shares from the convertible notes, and the repurchase or the issuance of stock or convertible notes or the sale of treasury shares. In periods when the quarterly average stock price per share exceeds $52.97 for the 0% Notes, and $103.87 for the 0.50% Notes, the non-GAAP diluted share count and non-GAAP net income per share include the anti-dilutive impact of the hedge transactions entered concurrently with the 0% Notes, and the 0.50% Notes, respectively. At an average stock price per share between $52.97 and $74.34 for the 0% Notes, and $103.87 and $156.78 for the 0.50% Notes, the hedging activity offsets the potentially dilutive effect of the 0% Notes, and the 0.50% Notes, respectively. In periods when the quarterly average stock price exceeds $74.34 for the 0% Notes, and $156.78 for the 0.50% Notes, the dilutive impact of the warrants issued concurrently with such notes is included in the diluted shares outstanding. GAAP and non-GAAP diluted share counts are based on either the previous quarter's average stock price or the stock price as of the last day of the previous quarter, whichever is higher.

** Special items may include: amortization of acquisition-related intangibles; expensing of appraised inventory fair market value step-up; restructuring-related cost of revenue charges; non-recurring facility costs; in-process research and development expenses; restructuring, asset impairments and other, net; goodwill impairment charges; gains and losses on debt prepayment; actuarial (gains) losses on pension plans and other pension benefits; and certain other special items, as necessary. These special items are out of our control and could change significantly from period to period. As a result, we are not able to reasonably estimate and separately present the individual impact or probable significance of these special items, and we are similarly unable to provide a reconciliation of the non-GAAP measures. The reconciliation that is unavailable would include a forward-looking income statement, balance sheet and statement of cash flows in accordance with GAAP. For this reason, we use a projected range of the aggregate amount of special items in order to calculate our projected non-GAAP operating expense outlook.

*** We believe these non-GAAP measures provide important supplemental information to investors. We use these measures, together with GAAP measures, for internal managerial purposes and as a means to evaluate period-to-period comparisons. However, we do not, and you should not, rely on non-GAAP financial measures alone as measures of our performance. We believe that non-GAAP financial measures reflect an additional way of viewing aspects of our operations that, when taken together with GAAP results and the reconciliations to corresponding GAAP financial measures that we also provide in our releases, provide a more complete understanding of factors and trends affecting our business. Because non-GAAP financial measures are not standardized, it may not be possible to compare these financial measures with other companies’ non-GAAP financial measures, even if they have similar names.

TELECONFERENCE

onsemi will host a conference call for the financial community at 9 a.m. Eastern Time (ET) on May 5, 2025 to discuss this announcement and onsemi’s 2025 first quarter results. The Company will also provide a real-time audio webcast of the teleconference on the Investor Relations page of its website at http://www.onsemi.com. The webcast replay will be available at this site approximately one hour following the live broadcast and will continue to be available for approximately 30 days following the conference call. Investors and interested parties can also access the conference call by pre-registering here.

FORWARD-LOOKING STATEMENTS

This document includes “forward-looking statements,” as that term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, included or incorporated in this document could be deemed forward-looking statements, particularly statements about the future financial performance of onsemi, including financial guidance for the second quarter of 2025. Forward-looking statements are often characterized by the use of words such as “believes,” “estimates,” “expects,” “projects,” “may,” “will,” “intends,” “plans,” “anticipates,” “should” or similar expressions or by discussions of strategy, plans or intentions. All forward-looking statements in this document are made based on our current expectations, forecasts, estimates and assumptions and involve risks, uncertainties and other factors that could cause results or events to differ materially from those expressed in the forward-looking statements. Certain factors that could affect our future results or events are described under Part I, Item 1A “Risk Factors” in the 2024 Annual Report on Form 10-K filed with the Securities and Exchange Commission (“SEC”) on February 10, 2025 (the “2024 Form 10-K”) and from time to time in our other SEC reports. Readers are cautioned not to place undue reliance on forward-looking statements. We assume no obligation to update such information, which speaks only as of the date made, except as may be required by law. Investing in our securities involves a high degree of risk and uncertainty, and you should carefully consider the trends, risks and uncertainties described in this document, our 2024 Form 10-K and other reports filed with or furnished to the SEC before making any investment decision with respect to our securities. If any of these trends, risks or uncertainties actually occurs or continues, our business, financial condition or operating results could be materially adversely affected, the trading prices of our securities could decline, and you could lose all or part of your investment. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by this cautionary statement.

About onsemi

onsemi (Nasdaq: ON) is driving disruptive innovations to help build a better future. With a focus on automotive and industrial end-markets, the company is accelerating change in megatrends such as vehicle electrification and safety, sustainable energy grids, industrial automation, and 5G and cloud infrastructure. onsemi offers a highly differentiated and innovative product portfolio, delivering intelligent power and sensing technologies that solve the world’s most complex challenges and leads the way to creating a safer, cleaner and smarter world. onsemi is recognized as a Fortune 500® company and included in the Nasdaq-100 Index® and S&P 500® index. Learn more about onsemi at www.onsemi.com .

https://www.onsemi.com/company/news-media/press-announcements/en/onsemi-reports-first-quarter-2025-results

Qualcomm Incorporated

Qualcomm relentlessly innovates to deliver intelligent computing everywhere, helping the world tackle some of its most important challenges. Our proven solutions drive transformation across major industries, and our Snapdragon® branded platforms power extraordinary consumer experiences. Building on our nearly 40-year leadership in setting industry standards and creating era-defining technology breakthroughs, we deliver leading edge AI, high-performance, low-power computing, and unrivaled connectivity. Together with our ecosystem partners, we enable next-generation digital transformation to enrich lives, improve businesses, and advance societies. At Qualcomm, we are engineering human progress. Qualcomm Incorporated includes our licensing business, QTL, and the vast majority of our patent portfolio. Qualcomm Technologies, Inc., a subsidiary of Qualcomm Incorporated, operates, along with its subsidiaries, substantially all of our engineering and research and development functions and substantially all of our products and services businesses, including our QCT semiconductor business. Snapdragon and Qualcomm branded products are products of Qualcomm Technologies, Inc. and/or its subsidiaries. Qualcomm patented technologies are licensed by Qualcomm Incorporated.

https://www.qualcomm.com/home

Qualcomm Incorporated - Qualcomm Announces First Quarter Fiscal 2025 Results – 6/2/2025

Record Revenues: $11.7 billion

GAAP EPS: $2.83, Record Non-GAAP EPS: $3.41

—Record Quarterly QCT Revenues of Greater Than $10 Billion—

—QCT Handsets: Record Quarterly Revenues—

—QCT Automotive: 6th Consecutive Quarter of Record Revenues—

SAN DIEGO - February 5, 2025 - Qualcomm Incorporated (NASDAQ: QCOM) today announced results for its fiscal first quarter ended December 29, 2024.

“We are very pleased to have achieved quarterly revenue records, which reflect the strength of our technology, product roadmap and end-customer demand,” said Cristiano Amon, CEO of Qualcomm Incorporated. “We are delivering growth across our diversification initiatives and remain committed to executing on our fiscal 2029 targets to achieve $22 billion of non-handset revenues.”

First Quarter Results1

	GAAP				Non-GAAP
(in millions, except per share data	Q1 Fiscal	Q1 Fiscal			Q1 Fiscal	Q1 Fiscal
and percentages)	2025	2024	Change	2025			2024	Change
Revenues	$11,669	$9,935	+17%	$11,669			$9,922	+18%
Earnings before taxes (EBT)	$3,635	$2,962	+23%	$4,427			$3,585	+23%
Net income	$3,180	$2,767	+15%	$3,830			$3,101	+24%
Diluted earnings per share (EPS)	$2.83	$2.46	+15%	$3.41			$2.75	+24%

(1) Discussion regarding our use of Non-GAAP financial measures and reconciliations between GAAP and Non-GAAP results are included at the end of this news release in the sections labeled “Note Regarding Use of Non-GAAP Financial Measures” and “Reconciliations of GAAP Results to Non-GAAP Results.”

Segment Results

		QCT			QTL
	Q1 Fiscal		Q1 Fiscal		Q1 Fiscal		Q1 Fiscal
(in millions, except percentages)	2025		2024	Change		2025	2024	Change
Revenues	$10,084		$8,423	+20%		$1,535	$1,460	+5%
EBT	$3,246		$2,593	+25%		$1,158	$1,080	+7%
EBT as % of revenues	32%		31%	+1 point		75%	74%	+1 point

QCT Revenue Streams 1

(in millions, except percentages)	Q1 Fiscal 2025	Q1 Fiscal 2024	Change
Handsets	$7,574	$6,687	+13%
Automotive	961	598	+61%
IoT	1,549	1,138	+36%
Total QCT revenues	$10,084	$8,423	+20%

We disaggregate QCT revenues based on the industries and applications in which our products are sold.

Return of Capital to Stockholders

During the first quarter of fiscal 2025, we returned $2.7 billion to stockholders, including $942 million, or

$0.85 per share, of cash dividends paid and $1.8 billion through repurchases of 11 million shares of common stock.

Business Outlook

The following statements are forward looking, and actual results may differ materially. The “Note Regarding Forward-Looking Statements” in this news release provides a description of certain risks that we face, and our most recent quarterly report on file with the Securities and Exchange Commission (SEC) provides a more complete description of our risks.

The following table summarizes GAAP and Non-GAAP guidance based on the current outlook.

	Current Guidance Q2 FY25 Estimates 1
GAAP Revenues	$10.3B - $11.2B
Less revenues attributable to other items 2	$0.1B - $0.2B
Non-GAAP Revenues	$10.2B - $11.0B
Supplemental Revenue Information
QCT revenues	$8.9B - $9.5B
QTL revenues	$1.25B - $1.45B
GAAP diluted EPS	$2.38 - $2.58
Less diluted EPS attributable to QSI	$—
Less diluted EPS attributable to share-based compensation	($0.52)
Less diluted EPS attributable to other items 2	$0.20
Non-GAAP diluted EPS	$2.70 - $2.90

Our outlook does not include provisions for proposed tax law changes, future asset impairments or for pending legal matters, other than future legal amounts that are probable and estimable. Further, due to their nature, certain income and expense items, such as certain investments, derivative and foreign currency transaction gains or losses, cannot be accurately forecast. Accordingly, we only include such items in our financial outlook to the extent they are reasonably certain. Our outlook includes the impact of any pending business combinations to the extent they are expected to close in the upcoming quarter. Actual results may differ materially from the outlook.
Our guidance for revenues and diluted EPS attributable to other items excluded from Non-GAAP for the second quarter of fiscal 2025 is primarily related to expected revenues resulting from the settlement of a dispute. Our guidance for diluted EPS attributable to other items excluded from Non-GAAP for the second quarter of fiscal 2025 also includes the requirement to capitalize research and development expenditures under U.S. Federal income tax law, partially offset by acquisition-related items.

Conference Call and Available Information

Qualcomm’s first quarter fiscal 2025 earnings conference call will be broadcast live on February 5, 2025, beginning at 1:45 p.m. Pacific Time (PT) at https://investor.qualcomm.com/news-events/investor-events. This conference call will include a discussion of “Non-GAAP financial measures” as defined in Regulation G. The most directly comparable GAAP financial measures and information reconciling these Non-GAAP financial measures to our financial results prepared in accordance with GAAP, as well as other financial and statistical information to be discussed on the conference call, will be posted to our Investor Relations website at https://investor.qualcomm.com immediately prior to the commencement of the call. An audio replay will be available on our website and via telephone following the live call for 30 days thereafter. To listen to the replay via telephone, U.S. callers may dial (877) 660-6853 and international callers may dial (201) 612-7415. Callers should use reservation number 13750899.

Our Investor Relations website at https://investor.qualcomm.com contains a significant amount of information about us, including financial and other information for investors, and it is possible that this information could be deemed to be material information. Accordingly, investors and others interested in Qualcomm should review the information posted on our website in addition to following our press releases, SEC filings and public conference calls and webcasts.

About Qualcomm

Qualcomm Incorporated includes our licensing business, QTL, and the vast majority of our patent portfolio. Qualcomm Technologies, Inc., a subsidiary of Qualcomm Incorporated, operates, along with its subsidiaries, substantially all of our engineering and research and development functions and substantially all of our products and services businesses, including our QCT semiconductor business. Snapdragon and Qualcomm branded products are products of Qualcomm Technologies, Inc. and/or its subsidiaries. Qualcomm patents are licensed by Qualcomm Incorporated.

Note Regarding Forward-Looking Statements

In addition to the historical information contained herein, this news release contains forward-looking statements that are inherently subject to risks and uncertainties, including but not limited to statements regarding: the strength of our technology, product roadmap and end-customer demand; our diversification initiatives; our fiscal 2029 targets to achieve $22 billion of non-handset revenues; our business outlook; and our estimates and guidance related to revenues and earnings per share (EPS). Forward-looking statements are generally identified by words such as “estimates,” “guidance,” “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks” and similar expressions. Actual results may differ materially from those referred to in the forward-looking statements due to a number of important factors, including but not limited to: our dependence on a small number of customers and licensees, and particularly from their sale of premium-tier handset devices; our customers vertically integrating; a significant portion of our business being concentrated in China, which is exacerbated by U.S./China trade and national security tensions; our ability to extend our technologies and products into new and expanded product areas, and industries and applications beyond mobile handsets; our strategic acquisitions, transactions and investments, and our ability to consummate strategic acquisitions; our dependence on a limited number of third-party suppliers; risks associated with the operation and control of our manufacturing facilities; security breaches of our information technology systems, or other misappropriation of our technology, intellectual property or other proprietary or confidential information; our ability to attract and retain qualified employees; the continued and future success of our licensing programs, which requires us to continue to evolve our patent portfolio and to renew or renegotiate license agreements that are expiring; efforts by some OEMs to avoid paying fair and reasonable royalties for the use of our intellectual property, and other attacks on our licensing business model; potential changes in our patent licensing practices, whether due to governmental investigations, legal challenges or otherwise; adverse rulings in governmental investigations or proceedings or other legal proceedings; our customers’ and licensees’ sales of products and services based on CDMA, OFDMA and other communications technologies, including 5G, and our customers’ demand for our products based on these technologies; competition in an environment of rapid technological change, and our ability to adapt to such change and compete effectively; failures in our products or in the products of our customers or licensees, including those resulting from security vulnerabilities, defects or errors; difficulties in enforcing and protecting our intellectual property rights; claims by third parties that we infringe their intellectual property; our use of open source software; the cyclical nature of the semiconductor industry, declines in global, regional or local economic conditions, or our stock price and earnings volatility; geopolitical conflicts, natural disasters, pandemics and other health crises, and other factors outside of our control; our ability to comply with laws, regulations, policies and standards; our indebtedness; and potential tax liabilities. These and other risks are set forth in our Quarterly Report on Form 10-Q for the fiscal quarter ended December 29, 2024 filed with the SEC. Our reports filed with the SEC are available on our website at www.qualcomm.com . We undertake no obligation to update, or continue to provide information with respect to, any forward-looking statement or risk factor, whether as a result of new information, future events or otherwise.

https://s204.q4cdn.com/645488518/files/doc_financials/2025/q1/FY2025-1st-Quarter-Earnings-Release.pdf

Renesas Electronics Corporation

Renesas Electronics Corporation ( TSE: 6723 ) empowers a safer, smarter and more sustainable future where technology helps make our lives easier. A leading global provider of microcontrollers, Renesas combines our expertise in embedded processing, analog, power and connectivity to deliver complete semiconductor solutions. These Winning Combinations accelerate time to market for automotive, industrial, infrastructure and IoT applications, enabling billions of connected, intelligent devices that enhance the way people work and live.

https://www.renesas.com/us/en

Renesas Electronics Corporation - Renesas Reports Financial Results for the First Quarter Ended March 31, 2025 – 24/4/2025

TOKYO, Japan — Renesas Electronics Corporation (TSE:6723) today announced consolidated financial results in accordance with IFRS for the three months ended March 31, 2025.

Summary of Consolidated Financial Results (Note 1)

Summary of Consolidated Financial Results (Non-GAAP basis) (Note 2)

	Three months ended March 31, 2025
	Billion yen	% of revenue
Revenue	308.8	100.0
Gross profit	175.2	56.7
Operating profit	83.8	27.1
Profit attributable to owners of parent	73.3	23.7
EBITDA (Note 3)	103.5	33.5

Summary of Consolidated Financial Results (IFRS basis)

	Three months ended March 31, 2025
	Billion yen	% of revenue
Revenue	308.8	100.0
Gross profit	172.9	56.0
Operating profit	21.5	7.0
Profit attributable to owners of parent	26.0	8.4
EBITDA (Note 3)	75.8	24.5

Reconciliation of Non-GAAP gross profit to IFRS gross profit and Non-GAAP operating profit to IFRS operating profit

(Billion yen)

	Three months ended March 31, 2025
Non-GAAP gross profit Non-GAAP gross margin	175.2 56.7%
Amortization of purchased intangible assets and depreciation of property, plant and equipment	(0.2)
Stock-based compensation	(0.8)
Other reconciliation items in non-recurring expenses and adjustments (Note 4)	(1.3)
IFRS gross profit IFRS gross margin	172.9 56.0%

Non-GAAP operating profit Non-GAAP operating margin	83.8 27.1%
Amortization of purchased intangible assets and depreciation of property, plant and equipment	(34.5)
Stock-based compensation	(9.7)
Other reconciliation items in non-recurring expenses and adjustments (Note 4)	(18.1)
IFRS operating profit IFRS operating margin	21.5 7.0%

Note 1: All figures are rounded to the nearest 100 million yen.

Note 2: Non-GAAP figures are calculated by removing or adjusting non-recurring items and other adjustments from GAAP (IFRS) figures following a certain set of rules. The Group believes Non-GAAP measures provide useful information in understanding and evaluating the Group’s constant business results.

Note 3: Operating profit + Depreciation and amortization.

Note 4: “Other reconciliation items in non-recurring expenses and adjustments” includes the non-recurring items related to acquisitions and other adjustments as well as non-recurring profits or losses the Group believes to be applicable.

About Renesas Electronics Corporation

Renesas Electronics Corporation ( TSE:6723 ) empowers a safer, smarter and more sustainable future where technology helps make our lives easier. A leading global provider of microcontrollers, Renesas combines our expertise in embedded processing, analog, power and connectivity to deliver complete semiconductor solutions. These Winning Combinations accelerate time to market for automotive, industrial, infrastructure and IoT applications, enabling billions of connected, intelligent devices that enhance the way people work and live. Learn more at renesas.com . Follow us on LinkedIn , Facebook , X , YouTube , and Instagram .

(FORWARD-LOOKING STATEMENTS)

The statements in this press release with respect to the plans, strategies and financial outlook of Renesas and its consolidated subsidiaries (collectively “we”) are forward-looking statements involving risks and uncertainties. Such forward-looking statements do not represent any guarantee by management of future performance. In many cases, but not all, we use such words as “aim,” “anticipate,” “believe,” “continue,” “endeavor,” “estimate,” “expect,” “initiative,” “intend,” “may,” “plan,” “potential,” “probability,” “project,” “risk,” “seek,” “should,” “strive,” “target,” “will” and similar expressions to identify forward-looking statements. You can also identify forward-looking statements by discussions of strategy, plans or intentions. These statements discuss future expectations, identify strategies, contain projections of our results of operations or financial condition, or state other forward-looking information based on our current expectations, assumptions, estimates and projections about our business and industry, our future business strategies and the environment in which we will operate in the future. Known and unknown risks, uncertainties and other factors could cause our actual results, performance or achievements to differ materially from those contained or implied in any forward-looking statement, including, but not limited to, general economic conditions in our markets, which are primarily Japan, North America, Asia, and Europe; demand for, and competitive pricing pressure on, products and services in the marketplace; ability to continue to win acceptance of products and services in these highly competitive markets; and fluctuations in currency exchange rates, particularly between the yen and the U.S. dollar. Among other factors, downturn of the world economy; deteriorating financial conditions in world markets, or deterioration in domestic and overseas stock markets, may cause actual results to differ from the projected results forecast.

This press release is based on the economic, regulatory, market and other conditions as in effect on the date hereof. It should be understood that subsequent developments may affect the information contained in this presentation, which neither we nor our advisors or representatives are under an obligation to update, revise or affirm.

https://www.renesas.com/en/about/newsroom/renesas-reports-financial-results-first-quarter-ended-march-31-2025

Samsung Semiconductor

Samsung inspires the world and shapes the future with transformative ideas and technologies. The company is redefining the worlds of TVs, smartphones, wearable devices, tablets, digital appliances, network systems, and memory, system LSI, foundry and LED solutions.

https://semiconductor.samsung.com/

Samsung Electronics Co., Ltd. - Earnings Presentation: 4Q 2023 Financial Results – 31/1/2024

For the full report see:

https://images.samsung.com/is/content/samsung/assets/global/ir/docs/2023_4Q_conference_eng_01.pdf

Semtech Corporation

Semtech Corporation (Nasdaq: SMTC) is a high-performance semiconductor, IoT systems and cloud connectivity service provider dedicated to delivering high-quality technology solutions that enable a smarter, more connected and sustainable planet. Our global teams are committed to empowering solution architects and application developers to develop breakthrough products for the infrastructure, industrial and consumer markets. To learn more about Semtech technology, visit us at Semtech.com or follow us on LinkedIn or X .

https://www.semtech.com/

Semtech Corporation - Semtech Announces Third Quarter of Fiscal Year 2025 Results – 25/11/2024

Semtech Corporation today reported unaudited financial results for its third quarter of fiscal year 2025, which ended November 25, 2024.

CAMARILLO, Calif., November 25, 2024 - Semtech Corporation (Nasdaq: SMTC), a high-performance semiconductor, IoT systems and cloud connectivity service provider, today reported unaudited financial results for its third quarter of fiscal year 2025, which ended October 27, 2024.

Net sales of $236.8 million, up 10% sequentially
Record data center net sales of $43.1 million, up 58% sequentially
GAAP gross margin of 51.1%, up 210 basis points sequentially and Non-GAAP gross margin of 52.4%, up 200 basis points sequentially
GAAP operating margin of 7.5%, up 390 basis points sequentially and Non-GAAP operating margin of 18.3%, up 410 basis points sequentially
GAAP diluted loss per share of $0.10 and Non-GAAP diluted earnings per share of $0.26
Adjusted EBITDA margin of 21.6%, up 280 basis points sequentially

"We are very pleased to report broad-based growth across each of our end markets, and particularly in data center, where we project AI-driven product demand to be a long-term and transformational growth engine for Semtech. Our results validate that our customers and target markets are moving toward us and highlight the effectiveness of our initiatives to drive market share gain and SAM expansion," said Hong Hou, Semtech's president and chief executive officer. "I believe we have achieved multi-generational roadmap alignment with customers and aspire to become the partner of choice for key technical and product solutions we provide."

"Our reported results and outlook demonstrate leverage in our operating model, targeting healthy net sales growth along with prudent spending," said Mark Lin, Semtech's executive vice president and chief financial officer. "We reported positive operating and free cash flows, and consistent with our previously stated capital allocation priority, we made principal prepayments on our credit facility in both the third and fourth quarters of this fiscal year."

Third Quarter of Fiscal Year 2025 Results

	GAAP Financial Results						Non-GAAP Financial Results
(in millions, except per share data)	Q325		Q225		Q324		Q325		Q225		Q324
Net sales	$	236.8	$	215.4	$	200.9	$	236.8	$	215.4	$	200.9
Gross margin		51.1%		49.0%		46.3%		52.4%		50.4%		51.3%
Operating expenses, net	$	103.2	$	97.7	$	105.3	$	80.6	$	77.9	$	82.5
Operating income (loss)	$	17.8	$	7.8	$	(12.4)	$	43.4	$	30.5	$	20.5
Operating margin		7.5%		3.6%		(6.2)%		18.3%		14.2%		10.2%
Interest expense, net	$	20.3	$	28.1	$	27.7	$	18.4	$	20.5	$	22.3
Net (loss) income attributable to common stockholders	$	(7.6)	$	(170.3)	$	(38.3)	$	20.3	$	8.1	$	1.5
Diluted (loss) earnings per share	$	(0.10)	$	(2.61)	$	(0.60)	$	0.26	$	0.11	$	0.02
Adjusted EBITDA							$	51.1	$	40.5	$	28.1
Adjusted EBITDA margin								21.6%		18.8%		14.0%

See "Non-GAAP Financial Measures" below for additional information about our non-GAAP financial results.

Fourth Quarter of Fiscal Year 2025 Outlook

(in millions, except per share data)
Net sales	$	250.0	+/-	$5.0
Non-GAAP Financial Measures
Gross margin		52.8%	+/-	50 bps
Operating expenses, net	$	82.8	+/-	$1.0
Operating income	$	49.2	+/-	$2.8
Operating margin		19.7%	+/-	70 bps
Interest expense, net	$	19.0
Normalized tax rate		15%
Diluted earnings per share	$	0.32	+/-	$0.03
Adjusted EBITDA	$	56.9	+/-	$2.8
Adjusted EBITDA margin		22.8%	+/-	70 bps

Diluted share count		80.0

See "Non-GAAP Financial Measures" below for additional information about our non-GAAP financial results.

The Company is unable to include a reconciliation of forward-looking non-GAAP results to the corresponding GAAP measures as this is not available without unreasonable efforts due to the high variability and low visibility with respect to the impact of transaction, integration and restructuring expenses, share-based awards, amortization of acquisition-related intangible assets and other items that are excluded from these non-GAAP measures. The Company expects the variability of the above charges to have a potentially significant impact on its GAAP financial results.

Non-GAAP Financial Measures

To supplement the Company's consolidated financial statements prepared in accordance with GAAP, this release includes a presentation of select non-GAAP financial measures. The Company's non-GAAP measures of gross margin, SG&A expense, product development and engineering expense, operating expenses, net, operating income or loss, operating margin, interest expense, net, diluted (loss) earnings per share, normalized tax rate, adjusted EBITDA and adjusted EBITDA margin exclude the following items, if any and as applicable, as set forth in the reconciliations in the tables below under "Supplemental Information: Reconciliation of GAAP to Non-GAAP Results:"

Share-based compensation
Intangible amortization
Transaction and integration related costs or recoveries (including costs associated with the acquisition and integration of Sierra Wireless, Inc.)
Restructuring and other reserves, including cumulative other reserves associated with historical activity including environmental, pension, deferred compensation and right-of-use asset impairments
Litigation costs or dispute settlement charges or recoveries
Gain on sale of business
Equity method income or loss
Investment gains, losses, reserves and impairments, including interest income from debt investments
Write-off and amortization of deferred financing costs
Loss on extinguishment of debt
Debt commitment fee
Goodwill and intangible impairment
Amortization of inventory step-up

In this release, the Company also presents adjusted EBITDA, adjusted EBITDA margin and free cash flow. Adjusted EBITDA is defined as net (loss) income attributable to common stockholders plus interest expense, interest income, provision (benefit) for income taxes, depreciation and amortization, and share-based compensation, and adjusted to exclude certain expenses, gains and losses that the Company believes are not indicative of its core results over time. Adjusted EBITDA margin is defined as adjusted EBITDA as a percentage of net sales. The Company considers free cash flow, which may be positive or negative, a non-GAAP financial measure defined as cash flows provided by (used in) operating activities less net capital expenditures. Management believes that the presentation of these non-GAAP measures provides useful information to investors regarding the Company's financial condition and results of operations. These non-GAAP financial measures are adjusted to exclude the items identified above because such items are either operating expenses that would not otherwise have been incurred by the Company in the normal course of the Company's business operations, or are not reflective of the Company's core results over time. These excluded items may include recurring as well as non-recurring items, and no inference should be made that all of these adjustments, charges, costs or expenses are unusual, infrequent or non-recurring. For example: certain restructuring and integration-related expenses (which consist of employee termination costs, facility closure or lease termination costs, and contract termination costs) may be considered recurring given the Company's ongoing efforts to be more cost effective and efficient; certain acquisition and disposition-related adjustments or expenses may be deemed recurring given the Company's regular evaluation of potential transactions and investments; and certain litigation expenses or dispute settlement charges or gains (which may include estimated losses for which the Company may have established a reserve, as well as any actual settlements, judgments, or other resolutions against, or in favor of, the Company related to litigation, arbitration, disputes or similar matters, and insurance recoveries received by the Company related to such matters) may be viewed as recurring given that the Company may from time to time be involved in, and may resolve, litigation, arbitration, disputes, and similar matters.

Notwithstanding that certain adjustments, charges, costs or expenses may be considered recurring, in order to provide meaningful comparisons, the Company believes that it is appropriate to exclude such items because they are not reflective of the Company's core results and tend to vary based on timing, frequency and magnitude.

These non-GAAP financial measures are provided to enhance the user's overall understanding of the Company's comparable financial performance between periods. In addition, the Company's management generally excludes the items noted above when managing and evaluating the performance of the business. The financial statements provided with this release include reconciliations of these non-GAAP financial measures to their most comparable GAAP measures for the second and third quarters of fiscal year 2025 and the third quarter of fiscal year 2024.

The Company adopted a full-year, normalized tax rate for the computation of the non-GAAP income tax provision in order to provide better comparability across the interim reporting periods by reducing the quarterly variability in non-GAAP tax rates that can occur throughout the year. In estimating the full-year non-GAAP normalized tax rate, the Company utilized a full-year financial projection that considers multiple factors such as changes to the Company's current operating structure, existing positions in various tax jurisdictions, the effect of key tax law changes, and other significant tax matters to the extent they are applicable to the full fiscal year financial projection. In addition to the adjustments described above, this normalized tax rate excludes the impact of share-based awards and the amortization of acquisition-related intangible assets. For fiscal year 2025, the Company's projected non-GAAP normalized tax rate is 15% and will be applied to each quarter of fiscal year 2025. The Company's non-GAAP normalized tax rate on non-GAAP net income may be adjusted during the year to account for events or trends that the Company believes materially impact the original annual non-GAAP normalized tax rate including, but not limited to, significant changes resulting from tax legislation, acquisitions, entity structures or operational changes and other significant events. These additional non-GAAP financial measures should not be considered substitutes for any measures derived in accordance with GAAP and may be inconsistent with similar measures presented by other companies.

To provide additional insight into the Company's fourth quarter outlook, this release also includes a presentation of forward-looking non-GAAP financial measures. See "Fourth Quarter of Fiscal Year 2025 Outlook" above for further information.

Forward-Looking and Cautionary Statements

This press release contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, as amended, based on the Company's current expectations, estimates and projections about its operations, industry, financial condition, performance, results of operations, and liquidity. Forward-looking statements are statements other than historical information or statements of current condition and relate to matters such as future financial performance including the fourth quarter of fiscal year 2025 outlook; future operational performance; the anticipated impact of specific items on future earnings; the Company's expectations regarding near term growth trends; and the Company's plans, objectives and expectations. Statements containing words such as "may," "believes," "anticipates," "expects," "intends," "plans," "projects," "estimates," "should," "could," "designed to," "projections," or "business outlook," or other similar expressions constitute forward-looking statements.

Forward-looking statements involve known and unknown risks and uncertainties that could cause actual results and events to differ materially from those projected. Potential factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to: the Company's ability to comply with, or pursue business strategies due to the covenants under the agreements governing its indebtedness; the Company's ability to remediate material weakness in its internal control over financial reporting, discovery of additional weaknesses, and its inability to achieve and maintain effective disclosure controls and procedures and internal control over financial reporting; the Company's ability to forecast and achieve anticipated net sales and earnings estimates in light of periodic economic uncertainty; the inherent risks, costs and uncertainties associated with integrating Sierra Wireless, Inc. successfully and risks of not achieving all or any of the anticipated benefits, or the risk that the anticipated benefits may not be fully realized or take longer to realize than expected; the uncertainty surrounding the impact and duration of supply chain constraints and any associated disruptions; export restrictions and laws affecting the Company's trade and investments, and tariffs or the occurrence of trade wars; worldwide economic and political disruptions, including as a result of inflation and current geopolitical conflicts; tightening credit conditions related to the United States banking system concerns; competitive changes in the marketplace including, but not limited to, the pace of growth or adoption rates of applicable products or technologies; downturns in the business cycle; decreasing average selling prices of the Company's products; the Company's reliance on a limited number of suppliers and subcontractors for components and materials; changes in projected or anticipated end-user markets; future responses to and effects of public health crises; and the Company's ability to forecast its annual non-GAAP normalized tax rate due to material changes that could occur during the fiscal year, which could include, but are not limited to, significant changes resulting from tax legislation, acquisitions, entity structures or operational changes and other significant events. Additionally, forward-looking statements should be considered in conjunction with the cautionary statements contained in the risk factors disclosed in the Company's filings with the Securities and Exchange Commission (the "SEC"), including the Company's Annual Report on Form 10-K for the fiscal year ended January 28, 2024, filed with the SEC on March 28, 2024 as such risk factors may be amended, supplemented or superseded from time to time by subsequent reports the Company files with the SEC. In light of the significant risks and uncertainties inherent in the forward-looking information included herein that may cause actual performance and results to differ materially from those predicted, any such forward-looking information should not be regarded as representations or guarantees by the Company of future performance or results, or that its objectives or plans will be achieved or that any of its operating expectations or financial forecasts will be realized. Reported results should not be considered an indication of future performance. Investors are cautioned not to place undue reliance on any forward-looking information contained herein, which reflect management's analysis only as of the date hereof. Except as required by law, the Company assumes no obligation to publicly release the results of any update or revision to any forward-looking statements that may be made to reflect new information, events or circumstances after the date hereof or to reflect the occurrence of unanticipated or future events, or otherwise.

Amounts reported in this press release are preliminary and subject to the finalization of the filing of our unaudited financial results on Form 10-Q for the three and nine months ended October 27, 2024. Reported amounts may not foot precisely due to rounding.

About Semtech

Semtech and the Semtech logo are registered trademarks or service marks of Semtech Corporation or its subsidiaries.

https://www.semtech.com/company/press/semtech-announces-third-quarter-fiscal-year-2025-results

SK Hynix Inc.

SK hynix Inc., headquartered in Korea, is the world’s top-tier semiconductor supplier offering Dynamic Random Access Memory chips (“DRAM”), flash memory chips (“NAND flash”), and CMOS Image Sensors (“CIS”) for a wide range of distinguished customers globally. The Company’s shares are traded on the Korea Exchange, and the Global Depository shares are listed on the Luxemburg Stock Exchange. Further information about SK hynix is available at www.skhynix.com , news.skhynix.com .

https://www.skhynix.com

SK Hynix - SK hynix Announces 1Q25 Financial Results – 24/4/2025

News Highlights

Revenues at 17.6391 trillion won, operating profit at 7.4405 trillion won, net profit at 8.1082 trillion won
Both revenues, operating profit achieve 2 nd highest quarterly records and operating margin improves for 8 th consecutive quarters
Company will strive to continue profit-centered growth based on AI memory leadership

Seoul, Apr 24, 2025

SK hynix Inc. (or “the company”, www.skhynix.com ) announced today that it recorded 17.6391 trillion won in revenues, 7.4405 trillion won in operating profit (with an operating margin of 42%), and 8.1082 trillion won in net profit (with a net margin of 46%) in the first quarter this year.

Both revenues and operating profit are the 2 nd highest records following last quarter when the company achieved its best quarterly results. Operating margin improved by 1%p compared to the previous quarter to 42%, resulting in 8 th consecutive quarterly growth.

SK hynix explained that memory market ramped up faster than expected due to competition to develop AI systems and inventory accumulation demand. The company responded to the demand with an expansion in sales of high value-added products such as 12-layer HBM3E and DDR5.

The company believes the strong financial results despite a low seasonality reflect its outstanding competitiveness compared to the past. The company plans to focus on enhancing the business fundamentals to achieve distinguished financial outcome, even in times of market correction.

Based on the financial result, cash and cash equivalents increased by 0.2 trillion won to 14.3 trillion won at the end of the first quarter, compared to the end of 2024, leading to an improvement in the debt and net debt ratio to 29% and 11%, respectively.

SK hynix will continue to strengthen collaboration with supply chain partners to meet customer needs despite demand fluctuation amid global uncertainties.

Due to the characteristics of the HBM market that supply volume is mutually agreed a year in advance, the company maintains its earlier projection that HBM demand will approximately double compared to the last year. As a result, sales of 12-layer HBM3E are expected to favorably increase to account for over 50% of total HBM3E revenues in the second quarter.

In addition, the company started to supply LPCAMM2 1 , high performance memory module for AI PC, to customers in the first quarter and plans to supply SOCAMM 2 , a low-power DRAM module for AI servers, when demand ramps up.

1 Low-Power Compression Attached Memory Module (LPCAMM2): LPDDR5X-based module solution that provides power efficiency and high performance as well as space savings. It has the performance effect of replacing two existing DDR5 SODIMMs with one LPCAMM2

2 Small Outline Compression Attached Memory Module (SOCAMM): A low-power DRAM-based memory module for AI server

For NAND, the company plans to actively respond to demand for high-capacity eSSD, while maintaining profitability-first operation with cautious approach for investment. For NAND, the company plans to actively respond to demand for high-capacity eSSD, while maintaining profitability-first operation with cautious approach for investment.

For NAND, the company plans to actively respond to demand for high-capacity eSSD, while maintaining profitability-first operation with cautious approach for investment.

“In compliance with the ‘Capex Discipline’, SK hynix will focus on products with demand feasibility and profitability to enhance investment efficiency,” said Kim Woohyun, Chief Financial Officer. “As an AI memory leader, we will strengthen collaboration with partners and carry out technological innovation in efforts to continue profit growth with industry-leading competitiveness.”

■ 1Q25 Financial Results (K-IFRS)

*Unit: Billion KRW

	1Q25	QoQ		YoY
	1Q25	4Q24	Change	1Q24	Change
Revenues	17,639.1	19,767.0	-11%	12,429.6	42%
Operating Profit	7,440.5	8,082.8	-8%	2,886.0	158%
Operating Margin	42%	41%	1%p	23%	19%p
Net Income	8,108.2	8,006.5	1%	1,917.0	323%

※ Financial information of the earnings is based on K-IFRS

※ Please note that the financial results discussed herein are preliminary and speak only as of April 24, 2025. Readers should not assume that this information remains operative at a later time.

About SK hynix Inc.

SK hynix Inc., headquartered in Korea, is the world’s top tier semiconductor supplier offering Dynamic Random Access Memory chips (“DRAM”) and flash memory chips (“NAND flash”) for a wide range of distinguished customers globally. The Company’s shares are traded on the Korea Exchange, and the Global Depository shares are listed on the Luxembourg Stock Exchange. Further information about SK hynix is available at www.skhynix.com , news.skhynix.com .

https://news.skhynix.com/sk-hynix-announces-1q25-financial-results/

Skyworks Solutions Inc.

Skyworks Solutions, Inc. is empowering the wireless networking revolution. Our highly innovative analog and mixed-signal semiconductors are connecting people, places and things spanning a number of new and previously unimagined applications within the aerospace, automotive, broadband, cellular infrastructure, connected home, defense, entertainment and gaming, industrial, medical, smartphone, tablet and wearable markets.

Skyworks is a global company with engineering, marketing, operations, sales and support facilities located throughout Asia, Europe and North America and is a member of the S&P 500 ® market index (Nasdaq: SWKS). For more information, please visit Skyworks’ website at: www.skyworksinc.com .

https://www.skyworksinc.com/

Skyworks Solutions, Inc. - Skyworks Reports Q3 FY24 Results – 30/7/2024

Delivers Revenue of $906 Million
Posts GAAP Diluted EPS of $0.75 and Non-GAAP Diluted EPS of $1.21
Year-to-Date Operating Cash Flow of $1.35 Billion and Free Cash Flow of $1.27 Billion; 43% Operating Cash Flow Margin and 40% Free Cash Flow Margin
Increases Quarterly Dividend by 3% to $0.70 Per Share

IRVINE, Calif.--(BUSINESS WIRE)--Jul. 30, 2024-- Skyworks Solutions, Inc. (Nasdaq: SWKS), an innovator of high-performance analog and mixed-signal semiconductors connecting people, places and things, today reported third fiscal quarter results for the period ended June 28, 2024.

Revenue for the third fiscal quarter of 2024 was $906 million. On a GAAP basis, operating income for the third fiscal quarter was $130 million with diluted earnings per share of $0.75. On a non-GAAP basis, operating income was $219 million with non-GAAP diluted earnings per share of $1.21.

“Skyworks generated solid results and strong profitability consistent with our guidance,” said Liam K. Griffin, chairman, chief executive officer and president of Skyworks. “Exiting the June quarter, our mobile business is ramping up while our broad markets business continues to recover. Over the medium-to-long-term, we expect generative AI applications will migrate to the edge, including the smartphone, driving a meaningful replacement cycle and leading to higher levels of RF complexity.”

Third Fiscal Quarter Business Highlights

Secured 5G content for premium Android smartphones including Google Pixel 8a, Samsung Galaxy M, Oppo Reno12 and several others
Supported the launches of Wi-Fi 7 tri-band routers and access points with NETGEAR, TP-Link and Cambium Networks
Accelerated our design win pipeline in automotive, including telematics, infotainment and CV2X

Fourth Fiscal Quarter 2024 Outlook

We provide earnings guidance on a non-GAAP basis because certain information necessary to reconcile such guidance to GAAP is difficult to estimate and dependent on future events outside of our control. Please refer to the attached Discussion Regarding the Use of Non-GAAP Financial Measures in this earnings release for a further discussion of our use of non-GAAP measures, including quantification of known expected adjustment items.

“For the September quarter, we expect revenue to be $1.00 billion to $1.04 billion with non-GAAP diluted earnings per share of $1.52 at the mid-point of the revenue range,” said Kris Sennesael, senior vice president and chief financial officer of Skyworks. “We expect our mobile business to be up approximately 20% sequentially, as demand and supply patterns appear to be normalizing. In broad markets, we expect modest improvement, representing three consecutive quarters of sequential growth. In addition, given our solid capital structure and strong year-to-date cash flow generation, we are announcing another increase to our quarterly dividend.”

Dividend Increase and Payment

Skyworks’ board of directors has declared a cash dividend of $0.70 per share of the Company’s common stock, representing a 3% increase from the prior quarterly dividend of $0.68 per share. The dividend is payable on Sept. 10, 2024, to stockholders of record at the close of business on Aug. 20, 2024.

About Skyworks

Safe Harbor Statement

This earnings release includes “forward-looking statements” intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements include information relating to future events, prospects, expectations and results of Skyworks (e.g., certain projections and business trends, as well as plans for dividend payments). Forward-looking statements can often be identified by words such as “anticipates,” “expects,” “forecasts,” “intends,” “believes,” “plans,” “may,” “will” or “continue,” and similar expressions and variations or negatives of these words. All such statements are subject to certain risks, uncertainties and other important factors that could cause actual results to differ materially and adversely from those projected and may affect our future operating results, financial position and cash flows.

These risks, uncertainties and other important factors include: the susceptibility of the semiconductor industry and the markets addressed by our, and our customers’, products to economic cycles or changes in economic conditions, including inflation and recession; our reliance on a small number of key customers for a large percentage of our sales; the availability and pricing of third-party semiconductor foundry, assembly and test capacity, raw materials, including rare earth and similar minerals, supplier components, equipment and shipping and logistics services, including limits on our customers’ ability to obtain such services and materials; the risks of doing business internationally, including increased import/export restrictions and controls (e.g., our ability to sell products to certain specified foreign entities only pursuant to a limited export license from the U.S. Department of Commerce or our ability to obtain foreign-sourced raw materials), imposition of trade protection measures (e.g., tariffs or taxes), security and health risks, possible disruptions in transportation networks, fluctuations in foreign currency exchange rates, and other economic, social, military and geopolitical conditions in the countries in which we, our customers or our suppliers operate, including the conflicts in Ukraine and the Middle East; delays in the deployment of commercial 5G networks or in consumer adoption of 5G-enabled devices; the volatility of our stock price; decreased gross margins and loss of market share as a result of increased competition; our ability to obtain design wins from customers; changes in laws, regulations and/or policies that could adversely affect our operations and financial results, the economy and our customers’ demand for our products, or the financial markets and our ability to raise capital; fluctuations in our manufacturing yields due to our complex and specialized manufacturing processes; our ability to develop, manufacture and market innovative products, avoid product obsolescence, reduce costs in a timely manner, transition our products to smaller geometry process technologies and achieve higher levels of design integration; the quality of our products and any defect remediation costs; our products’ ability to perform under stringent operating conditions; reduced flexibility in operating our business as a result of the indebtedness incurred in connection with the transaction with Silicon Laboratories Inc.; our ability to retain, recruit and hire key executives, technical personnel and other employees in the positions and numbers, with the experience and capabilities, and at the compensation levels needed to implement our business and product plans; the timing, rescheduling or cancellation of significant customer orders and our ability, as well as the ability of our customers, to manage inventory; the effects of global health crises on business conditions in our industry, including in the risk of significant disruptions to our business operations, as well as negative impacts to our financial condition; our ability to prevent theft of our intellectual property, disclosure of confidential information or breaches of our information technology systems; uncertainties of litigation, including potential disputes over intellectual property infringement and rights, as well as payments related to the licensing and/or sale of such rights; our ability to continue to grow and maintain an intellectual property portfolio and obtain needed licenses from third parties; our ability to make certain investments and acquisitions, integrate companies we acquire and/or enter into strategic alliances; and other risks and uncertainties, including those detailed from time to time in our filings with the Securities and Exchange Commission.

https://investors.skyworksinc.com/news-releases/news-release-details/skyworks-reports-q3-fy24-results

Sony Semiconductor

Sony Semiconductor Solutions Corporation is a wholly owned subsidiary of Sony Group Corporation and the global leader in image sensors. We strive to provide advanced imaging technologies that bring greater convenience and joy to people’s lives. In addition, we also work to develop and bring to market new kinds of sensing technologies with the aim of offering various solutions that will take the visual and recognition capabilities of both human and machines to greater heights.

https://www.sony-semicon.co.jp/e/

Sony Group Corporation - Quarterly Financial Statements for the Third Quarter Ended December 31, 2023 And Outlook for the Fiscal Year Ending March 31, 2024 – 14/2/2024

For the full report see:

https://www.sony.com/en/SonyInfo/IR/library/presen/er/pdf/23q3_sony.pdf

STMicroelectronics N.V.

At ST, we are 48,000 creators and makers of semiconductor technologies mastering the semiconductor supply chain with state-of-the-art manufacturing facilities. An integrated device manufacturer, we work with more than 200,000 customers and thousands of partners to design and build products, solutions, and ecosystems that address their challenges and opportunities, and the need to support a more sustainable world. Our technologies enable smarter mobility, more efficient power and energy management, and the wide-scale deployment of the Internet of Things and connectivity. ST is committed to becoming carbon neutral by 2027.

https://www.st.com/content/st_com/en.html

STMicroelectronics - STMicroelectronics Reports 2025 First Quarter Financial Results – 24/4/2025

Q1 net revenues $2.52 billion; gross margin 33.4%; operating income $3 million; net income $56 million
Business outlook at mid-point: Q2 net revenues of $2.71 billion and gross margin of 33.4%
Company-wide program to reshape manufacturing footprint and resize global cost base on track; annual cost savings target in the high triple-digit million-dollar range exiting 2027 confirmed.

https://newsroom.st.com/media-center/press-item.html/c3332.html

Taiwan Semiconductor Manufacturing Co., Ltd. (TSMC)

Established in 1987 and headquartered in Hsinchu Science Park, Taiwan, TSMC pioneered the pure-play foundry business model by focusing solely on manufacturing customers' products. Today, TSMC is the world's largest semiconductor foundry, manufacturing 10,436 different products using 261 distinct technologies for 481 different customers in 2018. With a large and diverse global customer base, TSMC manufactured semiconductors cover a wide range of applications in the computer, communications, consumer, industrial and standard segments and are used in a variety of end markets including mobile devices, high performance computing, automotive electronics and the Internet of Things (IoT).

http://www.tsmc.com

Taiwan Semiconductor Manufacturing Company Limited - TSMC September 2024 Revenue Report – 9/10/2024

HSINCHU, Taiwan, R.O.C. – Oct. 9, 2024 - TSMC (TWSE: 2330, NYSE: TSM) today announced its net revenue for September 2024: On a consolidated basis, revenue for September 2024 was approximately NT$251.87 billion, an increase of 0.4 percent from August 2024 and an increase of 39.6 percent from September 2023. Revenue for January through September 2024 totaled NT$2,025.85 billion, an increase of 31.9 percent compared to the same period in 2023.

https://pr.tsmc.com/english/news/3177

Toshiba Semiconductor

Creating technology that is intelligent -- that takes thought, vision and forward thinking -- that is what Toshiba is about. We work closely with our customers to create electronic components and storage products that are designed to excite the marketplace and deliver on our shared vision of success. We have spent decades developing strong relationships and applying our resources to your challenges. Toshiba is committed to work with you every step of the way in developing your product from design to delivery to ensure your success.

Toshiba offers a wide range of semiconductors and storage products, making us a single-source option for a number of solutions and customers. We work closely with OEMs, ODMs, CMs, VARs and fabless chip companies, as well as retailers and our distribution partners to define the right product mix and new technology innovations. Through proven commitment and lasting relationships, Toshiba semiconductors and storage products make possible todays' latest smartphones, tablets, ebooks, digital cameras, head mounted devices, medical devices, automotive applications, networking, enterprise applications, and PC and notebook storage.

https://www.global.toshiba/ww/top.html

United Microelectronics Corporation

UMC (NYSE: UMC, TWSE: 2303) is a leading global semiconductor foundry company. The company provides high-quality IC fabrication services, focusing on logic and various specialty technologies to serve all major sectors of the electronics industry. UMC’s comprehensive IC processing technologies and manufacturing solutions include Logic/Mixed-Signal, embedded High-Voltage, embedded Non-Volatile-Memory, RFSOI, BCD etc. Most of UMC's 12-in and 8-in fabs with its core R&D are located in Taiwan, with additional ones throughout Asia. UMC has a total of 12 fabs in production with combined capacity of more than 400,000 wafers per month (12-in equivalent), and all of them are certified with IATF 16949 automotive quality standard. UMC is headquartered in Hsinchu, Taiwan, plus local offices in United States, Europe, China, Japan, Korea & Singapore, with a worldwide total of 20,000 employees. For more information, please visit: http://www.umc.com .

https://www.umc.com/en/Home/Index

United Microelectronics Corporation - UMC Reports Third Quarter 2024 Results – 30/10/2024

22/28nm shipments reached record high as Q3 net income increased 5% sequentially

Third Quarter 2024 Overview 1 :

• Revenue: NT$60.49 billion (US$1.91 billion)

• Gross margin: 33.8%; Operating margin: 23.3%

• Revenue from 22/28nm: 35%

• Capacity utilization rate: 71%

• Net income attributable to shareholders of the parent: NT$14.47 billion (US$457 million)

• Earnings per share: NT$1.16; earnings per ADS: US$0.183

Taipei, Taiwan, ROC – October 30, 2024 – United Microelectronics Corporation (NYSE: UMC; TWSE: 2303) (“UMC” or “The Company”), a leading global semiconductor foundry, today announced its consolidated operating results for the third quarter of 2024.

Third quarter consolidated revenue was NT$60.49 billion, increasing 6.5% from NT$56.80 billion in 2Q24. Compared to a year ago, 3Q24 revenue increased 6.0%. Consolidated gross margin for 3Q24 was 33.8%. Net income attributable to the shareholders of the parent was NT$14.47 billion, with earnings per ordinary share of NT$1.16.

Jason Wang, co-president of UMC, said, “In the third quarter, we delivered results that were in line with guidance. In particular, wafer shipments grew more than expected, increasing 7.8% sequentially due to strong demand for 22/28nm products. Our strategy is to develop specialty technology solutions that deliver best-in-class performance, and I am pleased to report that revenue in absolute dollar derived from our specialty portfolio hit a record high in the third quarter, accounting for 53.1% of total sales. In our industry, technology is fundamental. We continue to invest significantly in technology development every year to ensure we are ready to support customers’ next-generation product features with more advanced solutions. For instance, our 22nm display driver solution was the first to be made available to the market and offers unparalleled performance, and we foresee strong tape-out momentum in the upcoming months.”

1 Unless otherwise stated, all financial figures discussed in this announcement are prepared in accordance with TIFRSs recognized by Financial Supervisory Commission in the ROC, which is different from IFRSs issued by the International Accounting Standards Board. They represent comparisons among the three-month period ending September 30, 2024, the three-month period ending June 30, 2024, and the equivalent three-month period that ended September 30, 2023. For all 3Q24 results, New Taiwan Dollar (NT$) amounts have been converted into U.S. Dollars at the September 30, 2024 exchange rate of NT$ 31.65 per U.S. Dollar.

Co-president Wang commented, “With regards to Q4 outlook, we are seeing demand stabilizing across end markets and a clear downward trend in inventory levels. Looking ahead, we have a number of exciting technology and collaboration projects in the pipeline as we continue to align closely with our customers’ product roadmaps. In addition, as we hear consistently from customers, UMC’s diversified manufacturing footprint is also very important in supporting their long-term strategies. Our new fab expansion in Singapore is nearing completion while our collaboration with Intel remains on track. These projects will further enhance our value proposition to customers and strengthen our position in the foundry industry.”

Co-president Wang added, “We released our 2023 Sustainability Report during the third quarter, which is available on our website for all stakeholders to read. I would like to highlight the progress we have made towards our energy transition goals, with renewable energy use doubling in 2023 from the previous year to account for 11.1% of UMC’s total energy consumption. With a 181-megawatt peak renewable energy purchase agreement coming into effect this year, we are on track to achieving our progressive targets of 25% renewable energy by 2025 and 50% by 2030.”

Summary of Operating Results

Operating Results
(Amount: NT$ million)	3Q24	2Q24	QoQ% change	3Q23	YoY % change
Operating Revenues	60,485	56,799	6.5	57,069	6.0
Gross Profit	20,429	19,983	2.2	20,461	(0.2)
Operating Expenses	(6,559)	(6,311)	3.9	(5,722)	14.6
Net Other Operating Income and Expenses	230	219	4.8	573	(59.9)
Operating Income	14,100	13,891	1.5	15,312	(7.9)
Net Non-Operating Income and Expenses	2,464	2,529	(2.5)	3,336	(26.1)
Net Income Attributable to Shareholders of the Parent	14,472	13,786	5.0	15,971	(9.4)
EPS (NT$ per share)	1.16	1.11		1.29
(US$ per ADS)	0.183	0.175		0.204

Third quarter operating revenues increased 6.5% sequentially to NT$60.49 billion. Revenue contribution from 40nm and below technologies represented 48% of wafer revenue. Gross profit grew 2.2% QoQ to NT$20.43 billion, or 33.8% of revenue. Operating expenses increased 3.9% to NT$6.56 billion. Net other operating income was NT$0.23 billion. Net non-operating income totaled NT$2.46 billion. Net income attributable to shareholders of the parent amounted to NT$14.47 billion.

Earnings per ordinary share for the quarter was NT$1.16. Earnings per ADS was US$0.183. The basic weighted average number of shares outstanding in 3Q24 was 12,436,436,695, compared with 12,414,189,313 shares in 2Q24 and 12,371,129,866 shares in 3Q23. The diluted weighted average number of shares outstanding was 12,559,358,115 in 3Q24, compared with 12,529,942,186 shares in 2Q24 and 12,566,773,628 shares in 3Q23. The fully diluted shares

counted on September 30, 2024 were approximately 12,602,544,000.

Detailed Financials Section

Operating revenues increased to NT$60.49 billion. COGS increased 8.8% to NT$40.06 billion, which included 10.5% increase in depreciation and 8.2% increase in other manufacturing costs. Gross profit increased 2.2% QoQ to NT$20.43

billion. Operating expenses increased to NT$6.56 billion, as R&D grew 4.4% to NT$4.02 billion or 6.6% of revenue, while Sales & Marketing also grew 5.7% to NT$0.72 billion. Net other operating income was NT$0.23 billion. In 3Q24, operating income increased 1.5% QoQ to NT$14.10 billion.

COGS & Expenses
(Amount: NT$ million)	3Q24	2Q24	QoQ% change	3Q23	YoY % change
Operating Revenues	60,485	56,799	6.5	57,069	6.0
COGS	(40,056)	(36,816)	8.8	(36,608)	9.4
Depreciation	(10,449)	(9,460)	10.5	(8,485)	23.1
Other Mfg. Costs	(29,607)	(27,356)	8.2	(28,123)	5.3
Gross Profit	20,429	19,983	2.2	20,461	(0.2)
Gross Margin (%)	33.8%	35.2%		35.9%
Operating Expenses	(6,559)	(6,311)	3.9	(5,722)	14.6
Sales & Marketing	(717)	(678)	5.7	(735)	(2.6)
G&A	(1,820)	(1,804)	0.9	(1,731)	5.3
R&D	(4,022)	(3,853)	4.4	(3,255)	23.5
Expected credit impairment gain (loss)	(0)	24	-	(1)	(91.9)
Net Other Operating Income & Expenses	230	219	4.8	573	(59.9)
Operating Income	14,100	13,891	1.5	15,312	(7.9)

Net non-operating income in 3Q24 was NT$2.46 billion, primarily due to the NT$2.79 billion in net investment gain, the NT$0.32 billion in net interest income offset by the NT$0.65 billion in exchange loss.

Non-Operating Income and Expenses
(Amount: NT$ million)	3Q24	2Q24	3Q23
Non-Operating Income and Expenses	2,464	2,529	3,336
Net Interest Income and Expenses	324	701	617
Net Investment Gain and Loss	2,791	1,440	1,885
Exchange Gain and Loss	(652)	407	324
Other Gain and Loss	1	(19)	510

In 3Q24, cash inflow from operating activities was NT$17.35 billion. Cash outflow from investing activities totaled NT$23.93 billion, which included NT$22.30 billion in capital expenditure, resulting in free cash outflow of NT$4.95 billion. Cash outflow from financing was NT$12.75 billion, primarily from NT$37.59 billion in dividend distribution offset by the NT$25.05 billion in bank loans. Net cash outflow in 3Q24 amounted to NT$18.26 billion. Over the next 12 months, the company expects to repay NT$4.97 billion in bank loans.

Cash Flow Summary
(Amount: NT$ million)	For the 3-Month Period Ended Sep. 30, 2024	For the 3-Month Period Ended Jun. 30, 2024
Cash Flow from Operating Activities	17,347	22,728
Net income before tax	16,564	16,420
Depreciation & Amortization	12,702	11,117
Share of profit of associates and joint ventures	(843)	(1,267)
Income tax paid	(3,755)	(5,831)
Changes in working capital & others	(7,321)	2,289
Cash Flow from Investing Activities	(23,927)	(15,131)
Decrease (increase) in financial assets measured at amortized cost	(1,988)	3,219
Acquisition of PP&E	(21,729)	(20,042)
Changes in refundable deposits	(205)	1,507
Acquisition of intangible assets	(499)	(578)
Others	494	763
Cash Flow from Financing Activities	(12,750)	(5,705)
Bank loans	25,050	(2,503)
Redemption of bonds	-	(3,000)
Cash dividends	(37,585)	-
Others	(215)	(202)
Effect of Exchange Rate	1,073	341
Net Cash Flow	(18,257)	2,233
Beginning balance	121,234	119,431
Changes in non-current assets held for sale	430	(430)
Ending balance	103,407	121,234

Cash and cash equivalents decreased to NT$103.41 billion. Days of inventory decreased 3 days to 85 days.

Current Assets
(Amount: NT$ billion)	3Q24	2Q24	3Q23
Cash and Cash Equivalents	103.41	121.23	140.64
Notes & Accounts Receivable	33.74	32.53	31.11
Days Sales Outstanding	50	51	49
Inventories, net	38.09	36.33	36.56
Days of Inventory	85	88	89
Total Current Assets	193.61	207.22	219.28

Current liabilities declined to NT$88.27 billion. Short-term credit / bonds increased to NT$30.86 billion while payables on equipment was NT$14.89 billion. Total liabilities decreased to NT$205.80 billion, leading to a debt to equity ratio of 56%.

Liabilities
(Amount: NT$ billion)	3Q24	2Q24	3Q23
Total Current Liabilities	88.27	124.97	92.07
Accounts Payable	9.01	8.18	8.37
Short-Term Credit / Bonds	30.86	16.21	30.07
Payables on Equipment	14.89	22.36	15.95
Dividends Payable	-	37.59	-
Other	33.51	40.63	37.68
Long-Term Credit / Bonds	58.13	47.48	49.38
Total Liabilities	205.80	230.87	197.26
Debt to Equity	56%	65%	56%

Analysis of Revenue 2

Revenue Breakdown by Region

Revenue from Asia-Pacific grew to 65% while business from North America was 26% of sales. Business from Europe declined to 5% while contribution from Japan remained unchanged at 4%.

Region	3Q24	2Q24	1Q24	4Q23	3Q23
North America	26%	25%	25%	23%	27%
Asia Pacific	65%	64%	63%	62%	58%
Europe	5%	7%	8%	11%	12%
Japan	4%	4%	4%	4%	3%

Revenue Breakdown by Geometry

Revenue contribution from 22/28nm was 35% of the wafer revenue, while 40nm contribution increased to 13% of sales.

Geometry	3Q24	2Q24	1Q24	4Q23	3Q23
14nm and below	0%	0%	0%	0%	0%
14nm<x<=28nm	35%	33%	33%	36%	32%
28nm<x<=40nm	13%	12%	14%	14%	13%
40nm<x<=65nm	15%	15%	18%	16%	19%
65nm<x<=90nm	10%	12%	10%	9%	8%
90nm<x<=0.13um	10%	11%	9%	9%	12%
0.13um<x<=0.18um	11%	10%	11%	9%	9%
0.18um<x<=0.35um	5%	5%	4%	5%	5%
0.5um and above	1%	2%	1%	2%	2%

Revenue Breakdown by Customer Type

Revenue from fabless customers accounted for 85% of revenue.

Customer Type	3Q24	2Q24	1Q24	4Q23	3Q23
Fabless	85%	87%	82%	78%	79%
IDM	15%	13%	18%	22%	21%

Revenue Breakdown by Application (1)

Revenue from the communication segment increased to 42%, while business from computer applications declined to 13%. Business from consumer applications remained at 31% as other segments decreased to 14% of revenue.

Application	3Q24	2Q24	1Q24	4Q23	3Q23
Computer	13%	15%	13%	13%	13%
Communication	42%	39%	48%	47%	46%
Consumer	31%	31%	23%	23%	23%
Others	14%	15%	16%	17%	18%

(1) Computer consists of ICs such as CPU, GPU, HDD controllers, DVD/CD-RW control ICs, PC chipset, audio codec,

keyboard controller, monitor scaler, USB, I/O chipset, WLAN. Communication consists of handset components, broadband, bluetooth, Ethernet, LAN, DSP, etc. Consumer consists of ICs used for DVD players, DTV, STB, MP3/MP4, flash controller, game consoles, DSC, smart cards, toys, etc.

2 Revenue in this section represents wafer sales

https://www.umc.com/upload/media/08_Investors/Financials/Quarterly_Results/Quarterly_2020-2029_English_pdf/2024/Q3_2024/UMC24Q3_report.pdf

Vishay Intertechnology Inc. (NYSE: VSH)

The Vishay journey began with one man, Dr. Felix Zandman, and a revolutionary technology. From there we would grow and strengthen over decades, arriving where we are today: one of the world’s most trusted manufacturers of electronic components. From discrete semiconductors to passive components; from the smallest diode to the most powerful capacitor, Vishay’s breadth of products is the very foundation that brings modern technology to life, every day, for everyone. We call it The DNA of tech.™

This DNA is more than infrastructure for today’s most vital electronic products, it’s a platform to enable growth. Vishay is well-positioned to propel such timely macroeconomic growth drivers as sustainability, connectivity and mobility. Through R&D, manufacturing, engineering, quality, sales and marketing, we generate the essential components that enable inventors and innovators to create new generations of products—ones that span many sectors: automotive, industrial, consumer, computer, telecommunications, military, aerospace, and medical.

Together with the manufacturers of today and tomorrow’s most compelling electronic innovations, names you know, we are enabling next level automation in factories, the electrification of the automobile, 5G network technology, and the rapid expansion of connectivity across everything (IoT) to highlight a few areas of strong growth. This diversity of opportunity is the reason Vishay has thrived, and why we are driven to be the DNA behind the success of our customers and partners and to be part of making a future that’s safer, sustainable and more productive.

https://www.vishay.com/

Vishay Intertechnology - Vishay Intertechnology Reports Third Quarter 2024 Results – 6/11/2024

MALVERN, Pa., Aug. 07, 2024 (GLOBE NEWSWIRE) -- Vishay Intertechnology, Inc., (NYSE: VSH), one of the world's largest manufacturers of discrete semiconductors and passive electronic components, today announced results for the fiscal second quarter ended June 29, 2024.

Highlights

2Q 2024 revenues of $741.2 million
Gross margin was 22.0% and included the negative impact of approximately 170 basis points related to the addition of Newport
EPS of $0.17
2Q 2024 book-to-bill of 0.86 with book-to-bill of 0.82 for semiconductors and 0.90 for passive components
Backlog at quarter end was 4.6 months

“During the second quarter, we executed well on our Vishay 3.0 strategic plan, deepening our customer engagements supported by capacity that has landed and that we will continue to expand, and advancing our silicon carbide strategy as we prepare for the megatrends in sustainability and e-mobility,” said Joel Smejkal, President and CEO. “Revenue, including a full quarter of Newport, was flat quarter over quarter, primarily reflecting schedule agreement adjustments by automotive Tier 1 customers. At mid-year 2024, it is apparent that the industry recovery is taking longer than we had expected at the beginning of the year. As a result, we are adjusting the timetable of the Itzehoe, Germany expansion project beyond 2024 while holding to our planned capital investment of $2.6 billion between 2023 and 2028. For 2024, we now plan to invest between $360 million to $390 million in capex.”

3Q 2024 Outlook

For the third quarter of 2024, management expects revenues in the range of $745 million +/- $20 million, with gross profit margin in the range of 21.0% +/- 50 basis points, including the negative impact of approximately 175 to 200 basis points from the addition of Newport.

About Vishay

Vishay manufactures one of the world’s largest portfolios of discrete semiconductors and passive electronic components that are essential to innovative designs in the automotive, industrial, computing, consumer, telecommunications, military, aerospace, and medical markets. Serving customers worldwide, Vishay is The DNA of tech®. Vishay Intertechnology, Inc. is a Fortune 1,000 Company listed on the NYSE (VSH). More on Vishay at www.Vishay.com .

This press release includes certain financial measures which are not recognized in accordance with U.S. generally accepted accounting principles ("GAAP"), including free cash; earnings before interest, taxes, depreciation and amortization ("EBITDA"); and EBITDA margin; which are considered "non-GAAP financial measures" under the U.S. Securities and Exchange Commission rules. These non-GAAP measures supplement our GAAP measures of performance or liquidity and should not be viewed as an alternative to GAAP measures of performance or liquidity. Non-GAAP measures such as free cash, EBITDA, and EBITDA margin do not have uniform definitions. These measures, as calculated by Vishay, may not be comparable to similarly titled measures used by other companies. Management believes that such measures are meaningful to investors because they provide insight with respect to intrinsic operating results of the Company. Although the terms "free cash" and "EBITDA" are not defined in GAAP, the measures are derived using various line items measured in accordance with GAAP. The calculations of these measures are indicated on the accompanying reconciliation schedules and are more fully described in the Company's financial statements presented in its annual report on Form 10-K and its quarterly reports presented on Forms 10-Q.

Statements contained herein that relate to the Company's future performance, including forecasted revenues and margins, capital investment, capacity expansion, stockholder returns, and the performance of the economy in general, are forward-looking statements within the safe harbor provisions of Private Securities Litigation Reform Act of 1995. Words and expressions such as "intend," "suggest," "guide," "will," "expect," or other similar words or expressions often identify forward-looking statements. Such statements are based on current expectations only, and are subject to certain risks, uncertainties and assumptions, many of which are beyond our control. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results, performance, or achievements may vary materially from those anticipated, estimated or projected. Among the factors that could cause actual results to materially differ include: general business and economic conditions; manufacturing or supply chain interruptions or changes in customer demand (including due to political, economic, and health instability and military conflicts and hostilities); delays or difficulties in implementing our cost reduction strategies; delays or difficulties in expanding our manufacturing capacities; an inability to attract and retain highly qualified personnel; changes in foreign currency exchange rates; uncertainty related to the effects of changes in foreign currency exchange rates; competition and technological changes in our industries; difficulties in new product development; difficulties in identifying suitable acquisition candidates, consummating a transaction on terms which we consider acceptable, and integration and performance of acquired businesses; that the Newport wafer fab will not be integrated successfully into the Company’s overall business; that the expected benefits of the acquisition may not be realized; that the fab’s standards, procedures and controls will not be brought into conformance within the Company’s operation; difficulties in transitioning and retaining fab employees following the acquisition; difficulties in consolidating facilities and transferring processes and know-how; the diversion of our management’s attention from the management of our current business; changes in U.S. and foreign trade regulations and tariffs, and uncertainty regarding the same; changes in applicable domestic and foreign tax regulations, and uncertainty regarding the same; changes in applicable accounting standards and other factors affecting our operations that are set forth in our filings with the Securities and Exchange Commission, including our annual reports on Form 10-K and our quarterly reports on Form 10-Q. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

https://www.globenewswire.com/news-release/2024/08/07/2925849/0/en/Vishay-Intertechnology-Reports-Second-Quarter-2024-Results.html

Xilinx Inc. (NASDAQ: XLNX)

Xilinx is now part of AMD. AMD now has the industry's broadest product portfolio and a highly complementary set of technologies, reaching customers in a diverse set of markets. Together, AMD and Xilinx leverage the right engine for the right workload to address the compute needs for our customers.

https://www.xilinx.com/

ACQ_REF: IS/50005/20250605/XXX/0/25

ACQ_AUTHOR: Associate/Donny Stanley

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