Skyworks Solutions (NASDAQ:SWKS) Issues Q3 2024 Earnings Guidance

Skyworks Solutions (NASDAQ:SWKS) issued an update on its third quarter 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 1.210-1.210 for the period, compared to the consensus earnings per share estimate of 1.470. The company issued revenue guidance of $882.0 million-$918.0 million, compared to the consensus revenue estimate of $1.0 billion.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SWKS. StockNews.com lowered shares of Skyworks Solutions from a buy rating to a hold rating in a report on Friday, March 29th. Piper Sandler reaffirmed a neutral rating and set a $90.00 price objective on shares of Skyworks Solutions in a report on Thursday, January 4th. B. Riley lifted their target price on Skyworks Solutions from $110.00 to $115.00 and gave the stock a neutral rating in a research note on Wednesday, January 31st. Susquehanna boosted their price objective on Skyworks Solutions from $120.00 to $125.00 and gave the company a positive rating in a research note on Wednesday, January 31st. Finally, Rosenblatt Securities restated a buy rating and issued a $130.00 price objective on shares of Skyworks Solutions in a research note on Wednesday, January 31st. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Hold and a consensus price target of $115.10.

Skyworks Solutions Trading Down 1.2 %

Skyworks Solutions stock traded down $1.27 during trading on Tuesday, reaching $106.59. 3,508,063 shares of the company were exchanged, compared to its average volume of 2,309,100. Skyworks Solutions has a 52-week low of $85.06 and a 52-week high of $115.69. The company has a debt-to-equity ratio of 0.16, a current ratio of 5.02 and a quick ratio of 3.51. The company has a market capitalization of $17.08 billion, a P/E ratio of 18.90, a PEG ratio of 1.93 and a beta of 1.37. The stock’s 50 day simple moving average is $104.15 and its two-hundred day simple moving average is $101.91.

Skyworks Solutions (NASDAQ:SWKS) last posted its earnings results on Tuesday, January 30th. The semiconductor manufacturer reported $1.97 EPS for the quarter, beating analysts’ consensus estimates of $1.95 by $0.02. Skyworks Solutions had a return on equity of 18.68% and a net margin of 19.48%. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter in the previous year, the business earned $2.33 earnings per share. The company’s revenue for the quarter was down 9.6% on a year-over-year basis. On average, equities research analysts expect that Skyworks Solutions will post 5.65 earnings per share for the current fiscal year.

Skyworks Solutions Dividend Announcement

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 $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.55%. Skyworks Solutions’s payout ratio is presently 48.23%.

About Skyworks Solutions

Skyworks Solutions, Inc, together with its subsidiaries, designs, develops, manufactures, and markets proprietary semiconductor products in the United States, China, South Korea, Taiwan, Europe, the Middle East, Africa, and the rest of Asia-Pacific. Its product portfolio includes amplifiers, antenna tuners, attenuators, automotive tuners and digital radios, DC/DC converters, demodulators, detectors, diodes, wireless analog system on chip products, directional couplers, diversity receive modules, filters, front-end modules, hybrids, light emitting diode drivers, low noise amplifiers, mixers, modulators, optocouplers/optoisolators, phase locked loops, phase shifters, power dividers/combiners, power over ethernet, power isolators, receivers, switches, synthesizers, timing devices, voltage controlled oscillators/synthesizers, and voltage regulators.