Quarterly earnings results are a good time to check in on a company’s progress, especially compared to its peers in the same sector. Today we are looking at KLA Corporation (NASDAQ: KLAC) and the best and worst performers in the semiconductor manufacturing industry.

The semiconductor industry is driven by demand for advanced electronic products like smartphones, PCs, servers, and data storage. The need for technologies like artificial intelligence, 5G networks, and smart cars is also creating the next wave of growth for the industry. Keeping up with this dynamism requires new tools that can design, fabricate, and test chips at ever smaller sizes and more complex architectures, creating a dire need for semiconductor capital manufacturing equipment.

The 14 semiconductor manufacturing stocks we track reported a very strong Q4. As a group, revenues beat analysts’ consensus estimates by 3% while next quarter’s revenue guidance was in line.

Thankfully, share prices of the companies have been resilient as they are up 8.5% on average since the latest earnings results.

KLA Corporation (NASDAQ: KLAC)

Formed by the 1997 merger of the two leading semiconductor yield management companies, KLA Corporation (NASDAQ: KLAC) is the leading supplier of equipment used to measure and inspect semiconductor chips.

KLA Corporation reported revenues of $3.30 billion, up 7.2% year on year. This print exceeded analysts’ expectations by 1.3%. Overall, it was a strong quarter for the company with a decent beat of analysts’ adjusted operating income estimates and revenue guidance for next quarter topping analysts’ expectations.

"KLA delivered a record quarter and calendar 2025 for revenue, non-GAAP operating income, and free cash flow generation. This performance was fueled by our differentiated product portfolio and solid company execution in an environment where the relevance of process control at the leading edge for foundry/logic and memory is increasing. As the market leader in process control, KLA is well positioned to take advantage of this long-term trend," said Rick Wallace, president and CEO of KLA Corporation.

The stock is down 8.7% since reporting and currently trades at $1,538.

Read why we think that KLA Corporation is one of the best semiconductor manufacturing stocks, our full report is free.

Best Q4: Teradyne (NASDAQ: TER)

Sporting most major chip manufacturers as its customers, Teradyne (NASDAQ: TER) is a US-based supplier of automated test equipment for semiconductors as well as other technologies and devices.

Teradyne reported revenues of $1.08 billion, up 43.9% year on year, outperforming analysts’ expectations by 11%. The business had an incredible quarter with a significant improvement in its inventory levels and a beat of analysts’ EPS estimates.

Teradyne scored the biggest analyst estimates beat and fastest revenue growth among its peers. The market seems happy with the results as the stock is up 29.1% since reporting. It currently trades at $322.03.

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

Weakest Q4: Amtech (NASDAQ: ASYS)

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

Amtech reported revenues of $18.97 million, down 22.2% year on year, in line with analysts’ expectations. It was a slower quarter as it posted a significant miss of analysts’ EPS estimates and an increase in its inventory levels.

Amtech delivered the weakest performance against analyst estimates and slowest revenue growth in the group. As expected, the stock is down 24.4% since the results and currently trades at $11.99.

Read our full analysis of Amtech’s results here.

IPG Photonics (NASDAQ: IPGP)

Both a designer and manufacturer of its products, IPG Photonics (NASDAQ: IPGP) is a provider of high-performance fiber lasers used for cutting, welding, and processing raw materials.

IPG Photonics reported revenues of $274.5 million, up 17.1% year on year. This result topped analysts’ expectations by 10%. It was a stunning quarter as it also produced a significant improvement in its inventory levels and a beat of analysts’ EPS estimates.

The stock is up 14.5% since reporting and currently trades at $126.97.

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

Lam Research (NASDAQ: LRCX)

Founded in 1980 by David Lam, the man who pioneered semiconductor etching technology, Lam Research (NASDAQ: LRCX) is one of the leading providers of wafer fabrication equipment used to make semiconductors.

Lam Research reported revenues of $5.34 billion, up 22.1% year on year. This print surpassed analysts’ expectations by 1.8%. Overall, it was an exceptional quarter as it also logged a beat of analysts’ EPS estimates and revenue guidance for next quarter exceeding analysts’ expectations.

The stock is down 3% since reporting and currently trades at $232.46.

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

Market Update

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

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

Want to invest in winners with rock-solid fundamentals? Check out our Top 5 Growth Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.