Key Highlights

  • Seagate revenue rose 61% to $4.233 billion, with a non-GAAP gross margin of 57.8% against 40.1% a year earlier.
  • Corning core EPS rose 36% to $0.91 as Optical Communications sales grew 44% to $2.379 billion.
  • NXP authorized a new $5 billion share repurchase program, on top of $1.3 billion remaining under the prior one.
  • Logitech guided third-quarter sales to $1,360 million to $1,430 million after estimating a $70 million to $80 million supplier-related hit.
  • Itron reported a quarterly book-to-bill of 0.80, against 0.97 over the trailing twelve months.

Which Semiconductor and Hardware Earnings Stood Out After the Tuesday, October 27 Reports?

Six technology hardware names reported on Tuesday, October 27, 2026, and their growth rates were far apart. Seagate Technology (NASDAQ:STX) posted revenue of $4.233 billion, up 61%. Corning (NYSE:GLW) reported core EPS of $0.91, up 36%, and NXP Semiconductors (NASDAQ:NXPI) paired revenue of $3,786 million with a new $5 billion buyback. Teradyne (NASDAQ:TER) reported EPS of $2.29 against a screened estimate of $2.06, while Logitech (NASDAQ:LOGI) beat on EPS but guided next-quarter sales down 4% to up 1%. Itron (NASDAQ:ITRI) beat on margin, yet its quarterly book-to-bill fell to 0.80.

The sections below condense each report using the company's own figures. Comparisons marked calculated are derived from those figures, and no share reactions are cited because none are stated for these names.

Seagate: How Did Revenue Jump 61% With a 57.8% Gross Margin?

Seagate reported fiscal first-quarter results after the close on Tuesday, October 27. Revenue was $4.233 billion against $2.629 billion, and non-GAAP diluted EPS was $7.68 against $2.61. The estimate was $7.43 as screened, a 3.36% surprise. Non-GAAP operating margin reached 50.7% from 29.0%, because operating expenses barely moved at $300 million.

Free cash flow was $1.48 billion, and gross debt fell to about $2.4 billion after roughly $1.2 billion of repayments. The company returned $568 million, including $400 million of buybacks, and raised the quarterly dividend about 3% to $0.76. Fiscal second-quarter revenue is guided to $4.8 billion, plus or minus $100 million, with non-GAAP EPS of $9.20, plus or minus $0.20.

Corning: Why Did Optical Sales Jump 44% While Solar Posted a Loss?

Corning reported core sales of $5.081 billion, up 19%, and core EPS of $0.91 against $0.67. The estimate was $0.88 as screened. Optical Communications sales rose 44% to $2.379 billion, and management said products used in generative AI data centers more than doubled.

Core operating margin rose 310 basis points to 22.7%. Solar sales rose 37% to $436 million but the segment lost $7 million as production ramped slowly, and Glass Innovations sales fell 3%. Fourth-quarter guidance is core sales of $5.2 billion to $5.3 billion and core EPS of $0.96 to $1.00, with no new numeric full-year range.

NXP Semiconductors: Why Did a Revenue Beat Come With a $5 Billion Buyback?

NXP reported third-quarter revenue of $3,786 million, up 19% year over year and above its $3.65 billion to $3.85 billion guide. Non-GAAP diluted EPS was $4.20 against $3.11, and the estimate was $4.12 as screened. Automotive revenue of $2,070 million remained the largest business at about 55% of revenue (calculated), while mobile fell 4% to $411 million.

Non-GAAP operating margin was 37.1% and free cash flow was $1,206 million. The company returned $359 million, only $103 million of it through buybacks, before the board approved the new $5 billion program. Fourth-quarter revenue is guided to $3.75 billion to $3.95 billion.

Teradyne: Did the Third Quarter Top Management's Own Guidance?

Teradyne released results after the close on Tuesday, October 27, ahead of a call on Wednesday, October 28. EPS was $2.29 and revenue about $1.31 billion. July guidance called for revenue of $1,200 million to $1,300 million and non-GAAP EPS of $1.85 to $2.15, so both figures sit above the range. EPS is about 14.5% above the $2.00 midpoint (calculated).

The prior quarter set a record at $1,329 million of revenue, up 104%, with gross margin of 59.8%. Management tied demand to AI data center testing and recently introduced products for memory test and burn-in. Cash was $349.5 million at the end of June.

Logitech: Did a Chip Supplier Incident Overshadow the Gross Margin Beat?

Logitech reported fiscal second-quarter net sales of $1,218.8 million, up 3% in US dollars. Non-GAAP EPS was $1.51 against $1.45 and a screened estimate of $1.33. Non-GAAP gross margin rose to 45.2% from 43.8%, though operating expenses grew 10% and the non-GAAP operating margin eased to 18.9%.

The outlook is the sticking point. Third-quarter sales are guided to $1,360 million to $1,430 million, including an estimated $70 million to $80 million hit from a semiconductor supplier whose facility is ramping below required capacity. Full production is expected by the end of the year, and the company returned $406 million in the quarter.

Itron: Did the Earnings Beat Hide a 0.80 Book-to-Bill?

Itron reported non-GAAP EPS of $1.94, up 26%, against a $1.56 estimate, on revenue of $599.3 million, up 3%. Adjusted gross margin rose 350 basis points to 41.3%, so the beat came mostly from margin. Bookings were $482 million, a book-to-bill of 0.80, with backlog of $4.3 billion.

Free cash flow fell 16% to $95.5 million on working capital, cash taxes and lower interest income. Fourth-quarter revenue is guided to $621 million to $636 million and non-GAAP EPS to $1.70 to $1.80. Full-year revenue is guided to $2.37 billion to $2.385 billion.

Semiconductor and Hardware Earnings Compared: Who Grew Fastest and Who Guided Highest?

Seagate's 61% revenue growth is 42 percentage points above NXP's 19% (calculated), while Logitech and Itron each grew 3%. On margin, Seagate's 50.7% non-GAAP operating margin is 32.9 points above Itron's 17.8% (calculated), with NXP at 37.1%, Corning at 22.7% on a core basis and Logitech at 18.9%.

Guidance midpoints against the quarter just reported (all calculated) put Seagate about 13.4% higher at $4.8 billion, Itron about 4.9% higher at $628.5 million, Corning about 3.3% higher at $5.25 billion and NXP about 1.7% higher at $3.85 billion. Logitech's midpoint implies a 1.5% decline from a year earlier. On EPS against screened estimates, Teradyne's surprise was 11.17%, Itron's about 24.4% and Logitech's about 13.5% (the last two calculated), versus 3.36% for Seagate, 3.41% for Corning and 2.01% for NXP.

What to Watch Next: Teradyne's Call, Logitech's Supplier Ramp and Seagate's $4.8 Billion Guide

Teradyne's call on Wednesday, October 28 is the first checkpoint, with attention on fourth-quarter ranges and gross margin against 59.8%. Seagate pays its dividend on January 7, 2027, to holders of record on December 23, 2026, and its next report will test the $4.8 billion midpoint. Logitech expects full supplier production by the end of the year, Itron must show bookings recovering toward 0.97, and NXP and Corning will be measured against fourth-quarter guides of $3.75 billion to $3.95 billion and $5.2 billion to $5.3 billion.