These semiconductor stocks are rising the most as Micron CEO is upbeat about Huawei and China

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Semiconductor stocks were on fire Wednesday after Micron Technology CEO Sanjay Mehrotra offered encouraging words that helped the sector.

During an earnings conference call after the market close Tuesday, Mehrotra said the company had resumed some shipments to Huawei after a full analysis of U.S. restrictions. He also said the company had “successfully mitigated approximately 90% of the impact from tariffs,” according to a transcript provided by FactSet.

Shares of Micron












MU, +14.35%










were up as much as 13.8% in early trading Wednesday.

For its fiscal third quarter ended May 30, Micron reported sales of $4.79 billion, down 39% from a year earlier. However, sales came in well ahead of the $4.67 consensus estimate among analysts polled by FactSet. Adjusted earnings came in at $1.05 a share, soundly beating the 79 cents estimated by analysts. Click here for more details about Micron’s results and its revised outlook.

Read: Micron investors may be too hopeful that the end of the downturn is near

Wednesday’s chip winners

Before listing the day’s biggest winners among large semiconductor companies traded in the U.S., it would help to put things into perspective by looking at charts of the iShares PHLX Semiconductor ETF












SOXX, +3.30%










which holds the 30 components of the PHLX Semiconductor Index












SOX, +3.38%









Here’s how SOXX has performed over the past year, along with the S&P 500 Index












SPX, +0.16%










with dividends reinvested:

FactSet


Three years:

FactSet


Five years:

FactSet


So short-term volatility has been the norm for the semiconductor group. But the industry’s ideal positioning, as an ever-growing array of consumer products make use of its products, is obvious from its excellent long-term performance.

SOXX was up as much as 3.6% in early trading Wednesday.

All 30 stocks held by the ETF were up as of 10:15 ET Wednesday:

Company Ticker Price change – June 26, 2019 Price change – 2019 Decline from 52-week high Price change – 2018
Micron Technology Inc.












MU, +14.35%









12.3% 15.6% -36.9% -22.8%
Nvidia Corp.












NVDA, +5.87%









5.7% 20.0% -45.3% -31.0%
Advanced Micro Devices Inc.












AMD, +4.18%









4.3% 63.1% -12.2% 79.6%
Qorvo Inc.












QRVO, +3.92%









3.7% 8.4% -23.9% -8.8%
Applied Materials Inc.












AMAT, +3.51%









3.6% 32.8% -13.7% -36.0%
Xilinx Inc.












XLNX, +4.27%









3.6% 33.7% -19.6% 26.3%
Qualcomm Inc.












QCOM, +3.68%









3.4% 31.8% -16.9% -11.1%
Monolithic Power Systems Inc.












MPWR, +4.34%









3.4% 10.5% -20.3% 3.5%
Silicon Laboratories Inc.












SLAB, +3.42%









3.3% 25.2% -10.7% -10.7%
MKS Instruments Inc.












MKSI, +3.17%









3.1% 17.4% -27.0% -31.6%
Microchip Technology Inc.












MCHP, +3.45%









2.8% 20.0% -14.8% -18.2%
ON Semiconductor Corp.












ON, +3.17%









2.8% 19.8% -18.6% -21.2%
Lam Research Corp.












LRCX, +3.33%









2.8% 32.7% -13.7% -26.0%
Intel Corp.












INTC, +2.89%









2.8% 2.6% -19.2% 1.7%
Texas Instruments Inc.












TXN, +2.82%









2.7% 21.1% -4.1% -9.5%
Skyworks Solutions Inc.












SWKS, +2.46%









2.4% 13.6% -26.8% -29.4%
NXP Semiconductors NV












NXPI, +2.48%









2.4% 32.9% -14.0% -37.4%
ASML Holding NV ADR












ASML, +2.31%









2.4% 30.9% -8.1% -10.5%
Cree Inc.












CREE, +2.85%









2.4% 32.0% -18.4% 15.2%
Maxim Integrated Products Inc.












MXIM, +2.43%









2.2% 15.9% -7.5% -2.7%
Broadcom Inc.












AVGO, +1.46%









2.2% 11.1% -12.6% -1.0%
KLA-Tencor Corp.












KLAC, +2.33%









2.1% 29.1% -10.5% -14.8%
Marvell Technology Group Ltd.












MRVL, +2.03%









1.9% 47.4% -7.3% -24.6%
Teradyne Inc.












TER, +1.73%









1.8% 47.5% -7.1% -25.1%
Analog Devices Inc.












ADI, +1.19%









1.4% 30.3% -5.6% -3.6%
Taiwan Semiconductor Manufacturing Co. ADR












TSM, +0.80%









0.8% 6.3% -14.1% -6.9%
Mellanox Technologies, Ltd.












MLNX, +0.90%









0.7% 21.0% -7.7% 42.8%
Entegris Inc.












ENTG, +0.67%









0.6% 34.9% -10.4% -8.4%
Silicon Motion Technology Corp. ADR












SIMO, +0.75%









0.2% 17.4% -34.5% -34.9%
Cypress Semiconductor Corp.












CY, +0.93%









0.2% 74.6% -1.0% -16.5%
Source: FactSet

Don’t miss: Dividend stocks, hot this year, may get even hotter thanks to the Federal Reserve

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