Wall Street brokerages expect Skyworks Solutions (NASDAQ:SWKS) to announce $910.39 million in sales for the current quarter, according to Zacks. Eight analysts have made estimates for Skyworks Solutions’ earnings, with the lowest sales estimate coming in at $910.00 million and the highest estimate coming in at $912.40 million. Skyworks Solutions reported sales of $851.70 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 6.9%. The firm is expected to issue its next earnings report after the market closes on Thursday, May 3rd.
On average, analysts expect that Skyworks Solutions will report full-year sales of $3.96 billion for the current financial year, with estimates ranging from $3.89 billion to $4.01 billion. For the next financial year, analysts forecast that the company will post sales of $4.31 billion per share, with estimates ranging from $4.12 billion to $4.43 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Skyworks Solutions.
Skyworks Solutions (NASDAQ:SWKS) last released its quarterly earnings results on Monday, February 5th. The semiconductor manufacturer reported $2.00 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.91 by $0.09. Skyworks Solutions had a return on equity of 30.21% and a net margin of 21.72%. The company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same period in the previous year, the company posted $1.61 earnings per share. The firm’s revenue was up 15.0% on a year-over-year basis.
SWKS has been the topic of several research reports. Piper Jaffray restated a “buy” rating and set a $115.00 price target on shares of Skyworks Solutions in a research report on Wednesday, December 27th. Canaccord Genuity reissued a “buy” rating and issued a $115.00 target price on shares of Skyworks Solutions in a report on Wednesday, January 24th. BidaskClub downgraded Skyworks Solutions from a “hold” rating to a “sell” rating in a report on Friday, December 29th. ValuEngine downgraded Skyworks Solutions from a “buy” rating to a “hold” rating in a report on Monday, April 2nd. Finally, Standpoint Research raised Skyworks Solutions from a “hold” rating to a “buy” rating in a report on Tuesday, February 27th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-two have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $116.89.
Shares of NASDAQ SWKS traded up $1.72 during mid-day trading on Friday, hitting $99.45. 1,306,236 shares of the stock traded hands, compared to its average volume of 2,340,491. Skyworks Solutions has a 52 week low of $93.05 and a 52 week high of $117.65. The firm has a market capitalization of $17,937.83, a PE ratio of 16.66, a P/E/G ratio of 0.98 and a beta of 0.63.
Skyworks Solutions declared that its board has authorized a stock buyback program on Monday, February 5th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the semiconductor manufacturer to buy shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.
In other news, insider Peter L. Gammel sold 7,800 shares of the business’s stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $100.60, for a total value of $784,680.00. Following the completion of the transaction, the insider now owns 12,680 shares in the company, valued at $1,275,608. 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 9,000 shares of the business’s stock in a transaction on Thursday, April 12th. The stock was sold at an average price of $99.19, for a total value of $892,710.00. Following the completion of the transaction, the insider now owns 21,420 shares of the company’s stock, valued at approximately $2,124,649.80. The disclosure for this sale can be found here. Insiders sold 105,050 shares of company stock valued at $11,308,448 in the last 90 days. Company insiders own 0.47% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. Elkfork Partners LLC purchased a new stake in Skyworks Solutions during the fourth quarter valued at $16,145,000. Xact Kapitalforvaltning AB increased its position in Skyworks Solutions by 7.0% during the fourth quarter. Xact Kapitalforvaltning AB now owns 64,589 shares of the semiconductor manufacturer’s stock valued at $6,133,000 after acquiring an additional 4,233 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in Skyworks Solutions by 3.6% during the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 106,028 shares of the semiconductor manufacturer’s stock valued at $10,067,000 after acquiring an additional 3,727 shares during the last quarter. We Are One Seven LLC purchased a new stake in Skyworks Solutions during the fourth quarter valued at $235,000. Finally, HM Payson & Co. increased its position in Skyworks Solutions by 5.2% during the fourth quarter. HM Payson & Co. now owns 92,832 shares of the semiconductor manufacturer’s stock valued at $8,814,000 after acquiring an additional 4,561 shares during the last quarter. Institutional investors own 83.32% of the company’s stock.
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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, 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 shifters, phase locked loops, power dividers/combiners, receivers, switches, synthesizers, technical ceramics, voltage controlled oscillators/synthesizers, and voltage regulators.
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