Semiconductor Stocks Beat Q1 Estimates; Seagate Revenue Surges 44%

The semiconductor sector posted robust first-quarter results, with aggregate revenue exceeding analyst consensus by 2.6%, as demand for data storage and analog chips remained strong. Next-quarter guidance aligned with expectations, signaling sustained momentum. Seagate Technology (NASDAQ:STX) led gains, reporting revenue of $3.11 billion, up 44.1% year-over-year and 5.4% above estimates, driven by cloud and data center demand. The stock has surged 59.2% since the April report. Texas Instruments (NASDAQ:TXN) also outperformed, with revenue up 18.6% to $4.83 billion, beating forecasts by 6.6%. Its shares climbed 24% post-earnings. Universal Display (NASDAQ:OLED) was a rare miss, with revenue dropping 14.5% to $142.2 million, missing estimates by 11% and issuing weak full-year guidance. Microchip Technology (NASDAQ:MCHP) and Applied Materials (NASDAQ:AMAT) both exceeded expectations, with revenue rising 35.1% and 11.4%, respectively.