Wall Street brokerages expect Skyworks Solutions (NASDAQ:SWKS) to announce $886.81 million in sales for the current quarter, according to Zacks. Nine analysts have issued estimates for Skyworks Solutions’ earnings, with the lowest sales estimate coming in at $880.00 million and the highest estimate coming in at $893.00 million. Skyworks Solutions reported sales of $900.80 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 1.6%. The business is expected to report its next earnings report on Thursday, July 19th.
According to Zacks, analysts expect that Skyworks Solutions will report full-year sales of $3.86 billion for the current fiscal year, with estimates ranging from $3.82 billion to $3.96 billion. For the next fiscal year, analysts forecast that the company will post sales of $4.13 billion per share, with estimates ranging from $4.00 billion to $4.35 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for Skyworks Solutions.
Skyworks Solutions (NASDAQ:SWKS) last announced its earnings results on Thursday, May 3rd. The semiconductor manufacturer reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. The company had revenue of $913.40 million for the quarter, compared to analyst estimates of $911.02 million. Skyworks Solutions had a return on equity of 30.35% and a net margin of 22.69%. Skyworks Solutions’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.45 earnings per share.
A number of equities research analysts have recently issued reports on the company. B. Riley cut their target price on Skyworks Solutions from $131.00 to $128.00 and set a “buy” rating on the stock in a research report on Tuesday, February 6th. Vetr lowered Skyworks Solutions from a “sell” rating to a “strong sell” rating and set a $91.21 target price on the stock. in a research report on Wednesday, February 7th. UBS raised Skyworks Solutions from a “hold” rating to a “buy” rating in a research report on Tuesday, February 6th. BidaskClub upgraded Skyworks Solutions from a “sell” rating to a “hold” rating in a report on Wednesday, May 9th. Finally, Canaccord Genuity lifted their price target on Skyworks Solutions from $115.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, February 6th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and twenty-two have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $115.16.
Shares of Skyworks Solutions traded up $0.02, reaching $100.06, on Friday, Marketbeat reports. 1,502,661 shares of the company were exchanged, compared to its average volume of 2,383,208. The firm has a market capitalization of $18.00 billion, a PE ratio of 16.73, a price-to-earnings-growth ratio of 1.22 and a beta of 0.66. Skyworks Solutions has a fifty-two week low of $86.13 and a fifty-two week high of $117.65.
Skyworks Solutions declared that its Board of Directors has approved a share repurchase plan on Monday, February 5th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the semiconductor manufacturer to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 12th. Shareholders of record on Tuesday, May 22nd will be paid a $0.32 dividend. The ex-dividend date of this dividend is Monday, May 21st. This represents a $1.28 dividend on an annualized basis and a yield of 1.28%. Skyworks Solutions’s dividend payout ratio (DPR) is currently 21.40%.
In other Skyworks Solutions news, insider David J. Aldrich sold 35,000 shares of the business’s stock in a transaction dated Friday, March 9th. The stock was sold at an average price of $113.03, for a total value of $3,956,050.00. Following the transaction, the insider now owns 177,252 shares in the company, valued at $20,034,793.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Christine King sold 2,401 shares of the business’s stock in a transaction dated Friday, May 11th. The shares were sold at an average price of $97.67, for a total value of $234,505.67. Following the completion of the transaction, the director now owns 14,928 shares in the company, valued at approximately $1,458,017.76. The disclosure for this sale can be found here. Insiders sold 57,151 shares of company stock worth $6,278,773 in the last 90 days. Corporate insiders own 0.47% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Amalgamated Bank boosted its stake in shares of Skyworks Solutions by 9.8% during the 1st quarter. Amalgamated Bank now owns 26,716 shares of the semiconductor manufacturer’s stock worth $2,679,000 after acquiring an additional 2,374 shares in the last quarter. Wesbanco Bank Inc. boosted its stake in shares of Skyworks Solutions by 1,574.7% during the 1st quarter. Wesbanco Bank Inc. now owns 61,077 shares of the semiconductor manufacturer’s stock worth $6,123,000 after acquiring an additional 57,430 shares in the last quarter. CIBC World Markets Inc. boosted its stake in shares of Skyworks Solutions by 106.3% during the 1st quarter. CIBC World Markets Inc. now owns 8,082 shares of the semiconductor manufacturer’s stock worth $810,000 after acquiring an additional 4,165 shares in the last quarter. Atlantic Trust Group LLC boosted its stake in shares of Skyworks Solutions by 1.1% during the 1st quarter. Atlantic Trust Group LLC now owns 181,592 shares of the semiconductor manufacturer’s stock worth $18,207,000 after acquiring an additional 1,928 shares in the last quarter. Finally, Highbridge Capital Management LLC bought a new stake in shares of Skyworks Solutions during the 1st quarter worth about $773,000. Institutional investors own 80.31% of the company’s stock.
About Skyworks Solutions
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.
Get a free copy of the Zacks research report on Skyworks Solutions (SWKS)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Skyworks Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Skyworks Solutions and related companies with MarketBeat.com's FREE daily email newsletter.