SANTA CLARA, Calif., Nov. 9, 2026 /PRNewswire/ -- Fly On Wall Street News Commentary - Semiconductor shares opened the week pulling in different directions. As of 10:02 a.m. ET on Monday, the PHLX Semiconductor Sector Index was up 4.33% at 9,796.62, while shares of one chipmaker whose board said on Sunday that it is initiating an independent investigation were trading 4.77% lower. The four other chipmakers covered below, each of which reported quarterly results within the past two weeks, were all trading higher at the same time stamp. Active Companies from around the markets with current developments this week include: NVIDIA Corporation (NASDAQ: NVDA), ON Semiconductor Corporation (Nasdaq: ON), Lattice Semiconductor Corporation (Nasdaq: LSCC), NXP Semiconductors N.V. (NASDAQ: NXPI), and Astera Labs, Inc. (Nasdaq: ALAB).
What the board said
On Sunday, November 8, the board of NVIDIA Corporation (NASDAQ: NVDA) said in a published statement that it is initiating an independent investigation "in light of recent reporting that founder and CEO Jensen Huang has been the target of a foreign intelligence effort." The board said it "has no reason to believe that either national security or NVIDIA secrets were compromised," and that its inquiry will examine all available information. The same day, NVIDIA published an email Mr. Huang sent to NVIDIA employees, in which he addressed the investigation.
"Regarding the national security concerns raised in news reports, NVIDIA's Board of Directors has initiated an independent investigation. I support the investigation and will cooperate fully," wrote NVIDIA founder and CEO Jensen Huang. As of 10:02 a.m. ET, NVIDIA shares were down 4.77% at $177.74.
Power and programmable chips report growth
ON Semiconductor Corporation (Nasdaq: ON), or onsemi, reported third quarter 2026 results on November 2, with revenue of $1,722 million, which the company said increased 11% year-over-year, and free cash flow of $489 million, which it said grew 31% year-over-year to 28% of revenue. Among its business highlights, onsemi said it announced an agreement to acquire Ferric and raised its AI data center 2030 revenue target by $500 million to greater than $3 billion.
"Increasing power requirements are driving accelerated demand in our AI data center and industrial end markets, as customers adopt and ramp our differentiated products," said Hassane El-Khoury, President and CEO of onsemi. As of 10:02 a.m. ET, onsemi shares were up 5.86%.
Lattice Semiconductor Corporation (Nasdaq: LSCC) reported on November 2 that revenue for its fiscal third quarter, ended October 3, 2026, was $291.0 million, with non-GAAP net income per diluted share of $0.72. The company noted that it completed its acquisition of AMI on July 27, 2026, and that its third quarter results include AMI's results from that date, while the prior periods presented do not.
"We delivered record third quarter revenue of $291 million and non-GAAP EPS of $0.72, up 118% and approximately 160% year-over-year, respectively. FPGA revenue grew approximately 90%, fueled by accelerating data center AI demand and continued momentum across Industrial & Embedded applications," said Ford Tamer, Chief Executive Officer. As of 10:02 a.m. ET, Lattice shares were up 4.02%.
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Automotive, industrial and data center connectivity
NXP Semiconductors N.V. (NASDAQ: NXPI) reported third quarter results on October 27, with revenue of $3.79 billion, up 19 percent year-on-year, and non-GAAP free cash flow of $1.21 billion, or 31.9 percent of revenue. GAAP diluted net income per share was $3.48, and non-GAAP diluted net income per share was $4.20. The company also announced a $5 billion increase in its share repurchase authorization.
"NXP delivered third-quarter revenue of $3.8 billion, up 19 percent year-on-year and 8 percent sequentially. Our performance was driven by accelerating contributions from our company-specific growth drivers in automotive and industrial as well as continued momentum in data center infrastructure," said Rafael Sotomayor, NXP President and Chief Executive Officer. As of 10:02 a.m. ET, NXP shares were up 2.03%.
Astera Labs, Inc. (Nasdaq: ALAB), which describes itself as a leader in semiconductor-based connectivity solutions for rack-scale AI infrastructure, reported third quarter 2026 results on November 3. The company said its Scorpio fabric switches became its largest product family, led by volume production of the Scorpio X-Series 320-lane fabric switch, and that its portfolio expanded across memory, optical and copper signal conditioning, and rack-scale AI platforms with Leo 2 and Leo X-Series, Aries 7 and Orion.
"Astera Labs delivered outstanding Q3 2026 results, with record quarterly revenue of $584.9 million, up 49% sequentially and up 154% year-over-year, with broad-based growth led by Scorpio, which ramped to high-volume production and became our largest product family by revenue," said Jitendra Mohan, Astera Labs' Chief Executive Officer. As of 10:02 a.m. ET, Astera Labs shares were up 9.84%.
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This article is independent news commentary. Fly On Wall Street is wholly owned and operated by Market Equities Limited ("MEL"), a company incorporated under the laws of Ireland. MEL has not been paid by any company mentioned in this article. MEL and/or its owners, operators, directors, and affiliates own shares of NVIDIA Corporation and do not intend to sell any of those shares within 30 days of the date of this article. They reserve the right to, and will, buy shares of NVIDIA Corporation at any time without further notice, and after that 30-day period reserve the right to, and will, sell shares of NVIDIA Corporation at any time without further notice. This ownership constitutes a conflict of interest as to our ability to remain objective in our communication regarding NVIDIA Corporation, and individuals are strongly encouraged to not use this publication as the basis for any investment decision. MEL and its owners, operators, directors, and affiliates do not currently own any shares of the other companies mentioned in this article, but reserve the right to, and will, buy and sell shares of those companies at any time without further notice. Index and share price figures are as of 10:02 a.m. ET on November 9, 2026, from third-party market data, and may have changed since. NVIDIA information is drawn from statements published on the NVIDIA newsroom on November 8, 2026; other company information is drawn from each company's news release or SEC filing. Information is drawn from company news releases and filings, government and industry data, published reporting and third-party data believed to be reliable, but its accuracy is not guaranteed. Investing in securities carries risk, including the loss of some or all of your investment. This document is governed by the laws of Ireland.
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