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LivestreamMenuKey semiconductor stocks like Sandisk and Advanced Micro Devices are reporting earnings in the new week, and analysts have set high expectations. Some 130 S & P 500 companies are set to post quarterly results this week, headlined by SpaceX , Disney and Caterpillar . CNBC Pro screened data from FactSet to identify the S & P 500 companies reporting this week that have seen accelerated earnings momentum lately. The stocks in the table below met the following criteria: At least 15 upward earnings-per-share estimate revisions in the past three months Less than 5 downward earnings-per-share estimate revisions in the past three months Earnings-per-share estimates up 10% or more in past three and six months Sandisk is expected to report earnings on Wednesday , and analysts revised their earnings forecast up 34 times in the last three months as the stock continues to surge. Sandisk has gained more than 400% this year. Wells Fargo analyst Aaron Rakers increased his price target to $1,620 from $1,250, implying a 33% upside from Friday’s close. “We’ve clearly missed the momentum in SNDK — underappreciating the overall supply < demand dynamics in the NAND market as continually driving meaningfully higher blended [average selling price per gigabyte] and the industry’s transformation toward long-term supply agreements,” Rakers wrote. Advanced Micro Devices is expected to report its earnings on Tuesday , and analysts have revised their earnings up 54 times in the past three months. The Santa Clara-based tech company has climbed 122% this year. Susquehanna recently raised its price target to $500 from $450, implying 5% upside from Friday’s close in its earnings preview. “We expect better results/guidance, driven primarily by DC [Data Centers],” analyst Christopher Rolland wrote. “We now expect modest [Gross Margin] pressure in the back half as the ramp in DC GPU gets partially offset by growth in Server/Embedded. In short, we expect generally better results/guidance due to healthy server sales and general upside from MI350.” The MI350 series is AMD’s line of graphics processing units designed for AI. Microchip Technology is another semiconductor stock that analysts see performing well, with revised earnings estimates going up 19% in the past three months. Shares are up 16% this year. Quarterly results are due Thursday . In a July 27 note, UBS analyst Timothy Arcuri screened several semiconductor stocks and noted a positive outlook for the Arizona-based semiconductor manufacturer ahead of earnings. “We see June revenue coming in slightly above the high end of guidance, driven by broad-based strength across end markets. We expect September-quarter revenue guidance to mark a seventh consecutive quarter of above-seasonal growth,” Arcuri wrote. “Our intra-quarter checks point to earnings upside, supported by improving demand (particularly in Industrial and Data Center), longer lead times, and Q/Q inventory declines”. Other companies reporting include Palantir , Western Digital and Cummins .Read More
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