Analysts Expect Skyworks Solutions (SWKS) Will Post Quarterly Sales of $886.81 Million

Equities research analysts expect Skyworks Solutions (NASDAQ:SWKS) to announce $886.81 million in sales for the current quarter, Zacks Investment Research reports. Nine analysts have made estimates for Skyworks Solutions’ earnings. The lowest sales estimate is $880.00 million and the highest is $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 firm is scheduled to issue its next quarterly earnings results 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 financial year, analysts anticipate that the business will post sales of $4.13 billion per share, with estimates ranging from $4.00 billion to $4.35 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Skyworks Solutions.

Skyworks Solutions (NASDAQ:SWKS) last issued its quarterly earnings results on Thursday, May 3rd. The semiconductor manufacturer reported $1.64 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate 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 net margin of 22.69% and a return on equity of 30.35%. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.45 earnings per share.

A number of analysts have issued reports on SWKS shares. Canaccord Genuity reiterated a “buy” rating and set a $115.00 price target on shares of Skyworks Solutions in a research note on Wednesday, January 24th. BidaskClub lowered shares of Skyworks Solutions from a “hold” rating to a “sell” rating in a research note on Friday, January 26th. Vetr lowered shares of Skyworks Solutions from a “sell” rating to a “strong sell” rating and set a $91.21 price target on the stock. in a research note on Thursday, February 1st. Drexel Hamilton reiterated a “buy” rating and set a $128.00 price target on shares of Skyworks Solutions in a research note on Monday, February 5th. Finally, BMO Capital Markets upgraded shares of Skyworks Solutions from a “market perform” rating to an “outperform” rating in a research note on Tuesday, February 6th. They noted that the move was a valuation call. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and twenty-three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $115.16.

In related news, Chairman David J. Aldrich sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $106.00, for a total value of $3,180,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Christine King sold 2,401 shares of the company’s stock in a transaction that occurred on 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 directly owns 14,928 shares of the company’s stock, valued at $1,458,017.76. The disclosure for this sale can be found here. Insiders sold 87,151 shares of company stock valued at $9,458,773 over the last ninety days. 0.47% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in SWKS. Pennsylvania Trust Co lifted its stake in Skyworks Solutions by 6.7% in the fourth quarter. Pennsylvania Trust Co now owns 25,357 shares of the semiconductor manufacturer’s stock valued at $2,408,000 after buying an additional 1,600 shares during the last quarter. Bank of Montreal Can lifted its stake in Skyworks Solutions by 21.4% in the fourth quarter. Bank of Montreal Can now owns 298,365 shares of the semiconductor manufacturer’s stock valued at $28,329,000 after buying an additional 52,631 shares during the last quarter. National Pension Service lifted its stake in Skyworks Solutions by 4.0% in the fourth quarter. National Pension Service now owns 214,060 shares of the semiconductor manufacturer’s stock valued at $20,325,000 after buying an additional 8,263 shares during the last quarter. Gateway Investment Advisers LLC lifted its stake in Skyworks Solutions by 18.2% in the fourth quarter. Gateway Investment Advisers LLC now owns 170,791 shares of the semiconductor manufacturer’s stock valued at $16,217,000 after buying an additional 26,237 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its stake in Skyworks Solutions by 3.7% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 632,386 shares of the semiconductor manufacturer’s stock valued at $60,046,000 after buying an additional 22,802 shares during the last quarter. 82.09% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ:SWKS opened at $99.71 on Friday. The stock has a market cap of $17.82 billion, a price-to-earnings ratio of 16.67, a price-to-earnings-growth ratio of 1.21 and a beta of 0.66. Skyworks Solutions has a 1 year low of $97.95 and a 1 year high of $98.84.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 12th. Investors of record on Tuesday, May 22nd will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date is Monday, May 21st. Skyworks Solutions’s dividend payout ratio (DPR) is 21.40%.

Skyworks Solutions declared that its Board of Directors has initiated a share buyback plan on Monday, February 5th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the semiconductor manufacturer to repurchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

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.

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Earnings History and Estimates for Skyworks Solutions (NASDAQ:SWKS)

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