Ten stocks stood firmer on Thursday, with four hitting record highs, as investors loaded portfolios amid the earnings season.
In contrast, Wall Street’s three major indices all ended in the red, with the Nasdaq leading the drop by 0.89 percent, followed by the S&P 500 decreasing 0.41 percent, and the Dow Jones declining 0.36 percent.
In this article, we focus on the 10 top-performing stocks on Thursday and detail the reasons behind their gains.
To come up with the list, we focused on the stocks with a $2 billion market capitalization and 5 million shares in trading volume.
Stock market charts. Photo by Kaboompics.com on Pexels
10. ON Semiconductor Corp. (NASDAQ:ON)
ON Semiconductor climbed to an over two-year high on Thursday, extending a rally for 14 straight days, as investors resumed buying positions following an investment firm’s high double-digit price target upgrade, while loading portfolios ahead of its earnings outcome.
In intra-day trading, the stock climbed to a record high of $99.18 before paring gains to end the day just up by 9.88 percent at $7.78 apiece.
This followed B. Riley’s 80-percent price target upgrade for its stock to $115 from $64, while upgrading its recommendation to “buy” from “neutral” previously.
B. Riley said that the upgrade was based on expectations that ON Semiconductor Corp. (NASDAQ:ON) will report first-quarter earnings in line with consensus, citing emerging growth factors and progress on its exit from non-core revenue streams.
The chipmaker is set to announce its financial and operating highlights after market close on May 4, 2026.
For the period, ON Semiconductor Corp. (NASDAQ:ON) is targeted to report total revenues of $1.435 billion to $1.535 billion, or an implied 0.7 percent decline to a 6 percent growth from the $1.446 billion in the same period last year.
Investors are also expected to watch for ON Semiconductor Corp.’s (NASDAQ:ON) outlook for the second quarter of the year.
9. Microchip Technology Inc. (NASDAQ:MCHP)
Microchip jumped to a nearly two-year high on Thursday, as investors resumed buying positions ahead of the results of its earnings performance for the fourth quarter of fiscal year 2026.
In intra-day trading, the stock surged to a record high of $92.24 before trimming gains to finish the session just up by 9.89 percent at $90.64 apiece. The rally was supported by a flurry of strong earnings performance from the firm’s counterparts, which bolstered growth expectations for the company in the same period.
Microchip Technology Inc. (NASDAQ:MCHP) is set to announce its financial and operating highlights for the fiscal year 2026 ending March after market close on May 7, 2026. A conference call will be organized to discuss the results.
For the period, Microchip Technology Inc. (NASDAQ:MCHP) is targeting to report net sales of $1.24 billion to $1.28 billion, or an implied growth of 28 percent to 32 percent from the $970 million in the same period last year.
It also expects to swing to a GAAP net income of $72.4 million to $95.5 million, from a GAAP net loss of $154.6 million in the same quarter a year earlier.
Microchip Technology Inc. (NASDAQ:MCHP) is a broadline supplier of semiconductors. On Wednesday, it unveiled a new family of plug-in timing modules called MD-990-0011-B, which it developed along with Intel Corp. The new module was designed to serve current AI workloads and deliver turnkey, high-precision synchronization for data center servers and 5G virtualized Radio Access Networks.
8. Liberty Energy Inc. (NYSE:LBRT)
Liberty Energy extended its winning streak to a 4th consecutive day on Thursday, to end just a few cents shy of its all-time high, as investors took heart from its strong earnings performance helped by the recent tensions between the US and Iran.
At market close, the stock finished 9.86 percent higher at $32.32, or just 8-cents shy of its all-time high of $32.40.
In an updated report, Liberty Energy Inc. (NYSE:LBRT) said that it grew its net income for the period by 12 percent to $22.5 million from $20.1 million in the same quarter a year earlier, while revenues broke past the $1 billion mark, ending at $1.02 billion or 4 percent higher than the $977 million year-on-year.
Liberty Energy Inc. (NYSE:LBRT) CEO Ron Gusek pointed to the “unprecedented oil and gas supply disruptions” as among the factors that sparked a strong earnings performance, with crude oil and natural gas prices seen hitting historic highs over the past few weeks amid the tensions in the Middle East.
In other news, Liberty Energy Inc. (NYSE:LBRT) announced the distribution of dividends amounting to $0.09 per Class A common share held by its shareholders on record as of June 4, 2026, payable on June 18.
7. Mobileye Global Inc. (NASDAQ:MBLY)
Mobileye soared by 10.13 percent on Thursday to end at $8.70 apiece, as investor sentiment was bolstered by its higher growth outlook for 2026, which overshadowed a mixed earnings performance for the first quarter.
In an updated report, Mobileye Global Inc. (NASDAQ:MBLY) raised its revenue growth outlook for full-year 2026 to a range of $1.935 billion to $2.015 billion, from the $1.9 billion to $1.98 billion as expected previously.
Adjusted operating income was also pegged at a range of $185 million to $235 million, higher than the $170 million to $220 million prior, to reflect operating leverage on the higher revenue outlook.
In the first quarter of the year, Mobileye Global Inc. (NASDAQ:MBLY) grew its GAAP revenues by 27 percent to $558 million from $438 million in the same period a year earlier, thanks to a 28-percent expansion in EyeQ SoC volumes attributable to higher demand. However, it widened its net loss by 3,643 percent to $3.818 billion from only $102 million in the same comparable period.
Commenting on the results, Mobileye Global Inc. (NASDAQ:MBLY) President and CEO Amnon Shashua said that the first quarter results reflected a stronger-than-expected start to 2026.
“Continued favorable demand trends enable us to modestly increase our 2026 outlook,” he said, noting that it secured an important design win with Mahindra, which adds a third Surround ADAS customer and a second customer for its next-generation SuperVision product.
6. STMicroelectronics NV (NYSE:STM)
STMicroelectronics climbed to a new two-year high on Thursday, as investors took heart from its upbeat outlook for the second quarter, alongside a strong revenue performance for the first three months of the year.
In intra-day trading, the stock soared to a record high of $51.40 before trimming gains to end the session just up by 10.81 percent at $49.71 apiece.
In a statement, STMicroelectronics NV (NYSE:STM) reported a 23-percent expansion in its revenues for the first quarter of the year, at $3.095 billion versus $2.517 billion in the same period last year.
Gross margin was at 33.8 percent, or a 40-basis point increase from the 33.4 percent a year earlier.
“Q1 net revenues, excluding the contribution of our acquisition of NXP’s MEMS sensor business, came above the mid-point of our business outlook range, driven mainly by higher revenues in our engaged customer programs in Personal electronics and CECP,” said President and CEO Jean-Marc Chery.
“Gross margin was above the mid-point of our business outlook range mainly due to better product mix,” he added.
Net income, however, declined by 33.7 percent year-on-year to $37 million from $56 million, but marked a significant improvement from the $30 million net loss posted in the fourth quarter of 2025.
Despite the mixed results, STMicroelectronics NV (NYSE:STM) posted an upbeat outlook for the second quarter of the year, with revenues targeted to grow by 24.5 percent to $3.45 billion from $2.77 billion in the same quarter last year.
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