Zacks: Brokerages Expect Skyworks Solutions Inc (SWKS) Will Post Quarterly Sales of $810.56 Million

Equities research analysts predict that Skyworks Solutions Inc (NASDAQ:SWKS) will report sales of $810.56 million for the current quarter, according to Zacks. Seven analysts have made estimates for Skyworks Solutions’ earnings, with the highest sales estimate coming in at $812.20 million and the lowest estimate coming in at $809.97 million. Skyworks Solutions reported sales of $913.40 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 11.3%. The firm is expected to announce its next earnings report on Thursday, May 2nd.

On average, analysts expect that Skyworks Solutions will report full year sales of $3.60 billion for the current year, with estimates ranging from $3.46 billion to $3.95 billion. For the next financial year, analysts expect that the business will post sales of $3.79 billion, with estimates ranging from $3.55 billion to $4.03 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Skyworks Solutions.

Skyworks Solutions (NASDAQ:SWKS) last announced its earnings results on Tuesday, February 5th. The semiconductor manufacturer reported $1.83 EPS for the quarter, beating analysts’ consensus estimates of $1.71 by $0.12. Skyworks Solutions had a net margin of 29.91% and a return on equity of 29.30%. The business had revenue of $972.00 million during the quarter, compared to analysts’ expectations of $974.70 million. During the same period in the prior year, the company earned $2.00 earnings per share. The business’s revenue was down 7.6% compared to the same quarter last year.

SWKS has been the subject of several analyst reports. B. Riley raised shares of Skyworks Solutions from a “neutral” rating to a “buy” rating and increased their price target for the stock from $80.00 to $90.00 in a report on Monday, January 28th. CIBC reissued a “market perform” rating on shares of Skyworks Solutions in a report on Monday, January 7th. Canaccord Genuity reissued a “buy” rating and set a $84.00 price target (down from $96.00) on shares of Skyworks Solutions in a report on Wednesday, January 9th. Goldman Sachs Group raised shares of Skyworks Solutions from a “neutral” rating to a “buy” rating and set a $96.00 price target for the company in a report on Wednesday, February 6th. Finally, Craig Hallum reissued a “buy” rating and set a $90.00 price target (down from $105.00) on shares of Skyworks Solutions in a report on Wednesday, January 9th. Two research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $93.00.

NASDAQ SWKS traded down $0.34 during trading hours on Friday, hitting $81.43. 1,811,331 shares of the stock were exchanged, compared to its average volume of 2,103,711. The stock has a market capitalization of $14.35 billion, a P/E ratio of 12.28, a P/E/G ratio of 1.26 and a beta of 0.69. Skyworks Solutions has a 12-month low of $60.12 and a 12-month high of $112.16.

Skyworks Solutions declared that its Board of Directors has initiated a share buyback plan on Tuesday, February 5th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the semiconductor manufacturer to repurchase up to 15.4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 19th. Shareholders of record on Tuesday, February 26th will be issued a $0.38 dividend. The ex-dividend date of this dividend is Monday, February 25th. This represents a $1.52 dividend on an annualized basis and a yield of 1.87%. Skyworks Solutions’s dividend payout ratio (DPR) is presently 22.93%.

In other Skyworks Solutions news, Director David J. Aldrich sold 3,000 shares of the stock in a transaction dated Friday, February 8th. The shares were sold at an average price of $81.05, for a total value of $243,150.00. Following the completion of the transaction, the director now directly owns 203,922 shares of the company’s stock, valued at $16,527,878.10. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CTO Peter L. Gammel sold 2,652 shares of the stock in a transaction dated Wednesday, January 16th. The shares were sold at an average price of $68.45, for a total transaction of $181,529.40. Following the completion of the transaction, the chief technology officer now directly owns 15,123 shares of the company’s stock, valued at $1,035,169.35. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,567 shares of company stock valued at $585,367. 0.47% of the stock is currently owned by corporate insiders.

Institutional investors have recently modified their holdings of the business. JOYN Advisors Inc. grew its position in shares of Skyworks Solutions by 178.8% in the fourth quarter. JOYN Advisors Inc. now owns 368 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 236 shares during the last quarter. Lindbrook Capital LLC acquired a new stake in shares of Skyworks Solutions in the fourth quarter valued at approximately $25,000. Manchester Capital Management LLC acquired a new stake in shares of Skyworks Solutions in the fourth quarter valued at approximately $39,000. AdvisorNet Financial Inc grew its position in shares of Skyworks Solutions by 98.5% in the fourth quarter. AdvisorNet Financial Inc now owns 405 shares of the semiconductor manufacturer’s stock valued at $27,000 after purchasing an additional 201 shares during the last quarter. Finally, Doyle Wealth Management acquired a new stake in shares of Skyworks Solutions in the fourth quarter valued at approximately $30,000. 81.15% of the stock is owned by institutional investors.

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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