Intel (INTC - Analyst Report) was down close to 5% upon revising its first quarter revenue expectations.  This was a surprise to some as investors were led to believe that Intel's PC sales were showing growth after years of stagnation.

Intel now expects revenue from $12.5 billion-$13.1 billion, in line with the actual revenue for this quarter a year ago.  Investors are dissapointed, as Intel's previous expectations indicated that the company would start growing again after years of stagnation.  However, that's not the case as it seems as though Intel's growth profile will remain sluggish for a while. 

Have no fear though, as we have three alternative semiconductor stocks which, unlike Intel, are looking quite promising right now.  This is indicated through rising estimate revisions as well as solid growth stats, which suggest that any of the three below may serve as better alternatives than Intel right now:

Amkor Technology Inc (AMKR)

Amkor is the largest provider of semiconductor packaging and test services on the planet.  Many of the world's largest semiconductor companies are customers of Amkor, relying on the company for its packaging and test services.  The company has a growth rate for next year of 25%, while Intel's is only 9.7%. 

Amkor is a Zacks Rank #1 (Strong Buy).  The company has recieved two positive estimate revisions in the last 60 days.  The company has also recieved 0 negative estimate revisions in the last two months. 

Our EPS consensus has gone up in the last 30 days, from a consensus EPS of $0.09 to $0.10.  It is also worth noting that the company beat our earnings consensus when it reported earnings last quarter, posting a beat by 192.31%.  Amkor gives its next earnings report on 4/27/15.

Cirrus Logic Inc (CRUS - Snapshot Report)

Cirrus Logic specialize in supplying high performance analog circuits and advanced mixed signal chip solutions.  Expect less volatility with the stock, as it has a beta of 0.69.

CRUS has had two analysts post positive estimate revisions for the company in the last 60 days, with no negative revisions by analysts in that time.  Our current earnings per share consensus calls for EPS of $0.34, up from $0.21 60 days ago. 
 

It is worth noting that Cirrus Logic has beaten our earnings consensus in each of the last four quarters by an average of 43.43%.  Intel has beaten our estimate in the last four quarters as well, though only by an average of 5.53%.  Cirrus reports its earnings on 4/23/15.

Tower Semiconductor Ltd (TSEM)

Tower Semiconductor focuses on making and providing services for integrated circuits on silicon wafers.  The company recently hit a 52 week high of $18.20, and closed at the bell today with a share price of $17.00.  TSEM has a PEG of 0.48 and a forward PE of 7.2.

Tower Semiconductor has a growth rate of 21.6% for next year, while Intel's is 9.7%.  There have been two analysts posting positive estimate revisions in the last 60 days.  There have been no negative revisions in the last 60 days for TSEM. 

The EPS consensus estimate calls for EPS of $0.51 right now, up from $0.32 a month ago.  The year ago EPS for the first quarter was $0.38.  This makes it evident that TSEM is on a journey, likely heading much higher if the estimates keep going in the right direction. 

The company has beaten our EPS consensus in each of the last four quarters by an average of 37.51%.  If Tower beats our current consensus estimate when it reports earnings on 5/21/15, the company's share value will likely continue to react positively, as it has in recent earnings beats.