Wall Street analysts expect that Skyworks Solutions Inc (NASDAQ:SWKS) will announce sales of $825.46 million for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have made estimates for Skyworks Solutions’ earnings. The lowest sales estimate is $825.00 million and the highest is $827.29 million. Skyworks Solutions reported sales of $894.30 million during the same quarter last year, which indicates a negative year over year growth rate of 7.7%. The company is expected to announce its next earnings report on Thursday, July 18th.
According to Zacks, analysts expect that Skyworks Solutions will report full year sales of $3.57 billion for the current financial year, with estimates ranging from $3.51 billion to $3.69 billion. For the next financial year, analysts expect that the business will post sales of $3.81 billion, with estimates ranging from $3.70 billion to $3.93 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Skyworks Solutions.
Skyworks Solutions (NASDAQ:SWKS) last posted its quarterly earnings data on Thursday, May 2nd. The semiconductor manufacturer reported $1.47 EPS for the quarter, beating the consensus estimate of $1.43 by $0.04. The business had revenue of $810.40 million for the quarter, compared to analysts’ expectations of $809.52 million. Skyworks Solutions had a net margin of 29.06% and a return on equity of 28.25%. The firm’s revenue was down 11.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.64 EPS.
Several equities research analysts recently commented on SWKS shares. B. Riley raised shares of Skyworks Solutions from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $80.00 to $90.00 in a research report on Monday, January 28th. Canaccord Genuity boosted their price target on shares of Skyworks Solutions from $84.00 to $99.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. ValuEngine raised shares of Skyworks Solutions from a “sell” rating to a “hold” rating in a research report on Thursday, February 7th. BidaskClub cut shares of Skyworks Solutions from a “hold” rating to a “sell” rating in a research report on Tuesday. Finally, Macquarie cut shares of Skyworks Solutions from an “outperform” rating to a “neutral” rating and set a $92.80 price target on the stock. in a research report on Wednesday, April 17th. Four research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and ten have issued a buy rating to the stock. Skyworks Solutions presently has a consensus rating of “Hold” and a consensus target price of $90.28.
In other news, CTO Peter L. Gammel sold 1,881 shares of the business’s stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $93.53, for a total transaction of $175,929.93. Following the transaction, the chief technology officer now directly owns 9,240 shares in the company, valued at approximately $864,217.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Peter L. Gammel sold 2,351 shares of the business’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $82.81, for a total transaction of $194,686.31. Following the transaction, the insider now owns 11,121 shares in the company, valued at $920,930.01. The disclosure for this sale can be found here. Insiders have sold a total of 114,315 shares of company stock worth $9,981,691 over the last 90 days. 0.64% of the stock is owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in the company. Garrison Point Advisors LLC grew its stake in Skyworks Solutions by 2.2% in the 1st quarter. Garrison Point Advisors LLC now owns 5,690 shares of the semiconductor manufacturer’s stock valued at $469,000 after buying an additional 120 shares during the last quarter. Xact Kapitalforvaltning AB grew its stake in Skyworks Solutions by 0.3% in the 1st quarter. Xact Kapitalforvaltning AB now owns 48,916 shares of the semiconductor manufacturer’s stock valued at $4,035,000 after buying an additional 124 shares during the last quarter. BOKF NA grew its stake in Skyworks Solutions by 3.7% in the 4th quarter. BOKF NA now owns 3,767 shares of the semiconductor manufacturer’s stock valued at $252,000 after buying an additional 133 shares during the last quarter. Capital Investment Counsel Inc grew its stake in Skyworks Solutions by 0.3% in the 1st quarter. Capital Investment Counsel Inc now owns 42,646 shares of the semiconductor manufacturer’s stock valued at $3,517,000 after buying an additional 135 shares during the last quarter. Finally, Greenwich Wealth Management LLC grew its stake in Skyworks Solutions by 0.6% in the 4th quarter. Greenwich Wealth Management LLC now owns 21,762 shares of the semiconductor manufacturer’s stock valued at $1,459,000 after buying an additional 136 shares during the last quarter. Institutional investors own 81.95% of the company’s stock.
SWKS traded up $1.07 during trading on Friday, hitting $69.53. The company had a trading volume of 3,309,401 shares, compared to its average volume of 2,093,649. The stock has a market capitalization of $12.05 billion, a P/E ratio of 10.49, a P/E/G ratio of 1.01 and a beta of 0.70. Skyworks Solutions has a one year low of $60.12 and a one year high of $104.20.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 11th. Stockholders of record on Tuesday, May 21st will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Monday, May 20th. This represents a $1.52 annualized dividend and a dividend yield of 2.19%. Skyworks Solutions’s dividend payout ratio is presently 22.93%.
Skyworks Solutions declared that its board has authorized a stock repurchase program on Tuesday, February 5th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the semiconductor manufacturer to purchase up to 15.4% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
Skyworks Solutions Company Profile
Skyworks Solutions, Inc, together with its subsidiaries, designs, develops, manufactures, and markets proprietary semiconductor products, including intellectual property worldwide. Its product portfolio includes amplifiers, antenna tuners, attenuators, circulators/isolators, DC/DC converters, demodulators, detectors, diodes, directional couplers, diversity receive modules, filters, front-end modules, hybrids, LED drivers, low noise amplifiers, mixers, modulators, optocouplers/optoisolators, phase locked loops, phase shifters, power dividers/combiners, receivers, switches, synthesizers, technical ceramics, voltage controlled oscillators/synthesizers, and voltage regulators.
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