Skyworks Solutions Inc (SWKS) Expected to Announce Earnings of $1.43 Per Share

Brokerages expect Skyworks Solutions Inc (NASDAQ:SWKS) to report earnings per share (EPS) of $1.43 for the current quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Skyworks Solutions’ earnings. The lowest EPS estimate is $1.43 and the highest is $1.44. Skyworks Solutions reported earnings of $1.64 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 12.8%. The firm is expected to announce its next earnings results on Thursday, May 2nd.

On average, analysts expect that Skyworks Solutions will report full year earnings of $6.55 per share for the current financial year, with EPS estimates ranging from $6.33 to $6.71. For the next fiscal year, analysts forecast that the firm will report earnings of $7.24 per share, with EPS estimates ranging from $6.81 to $7.82. Zacks’ earnings per share calculations are an average based on a survey of analysts that follow Skyworks Solutions.

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

SWKS has been the subject of several research analyst reports. Zacks Investment Research raised Skyworks Solutions from a “sell” rating to a “hold” rating in a report on Tuesday, January 15th. B. Riley raised Skyworks Solutions from a “neutral” rating to a “buy” rating and increased their price objective for the company from $80.00 to $90.00 in a report on Monday, January 28th. Loop Capital decreased their price target on Skyworks Solutions to $92.00 and set a “buy” rating for the company in a report on Thursday, January 10th. Canaccord Genuity reaffirmed 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. Finally, ValuEngine raised Skyworks Solutions from a “sell” rating to a “hold” rating in a report on Thursday, February 7th. Two analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have assigned a buy rating to the stock. Skyworks Solutions has a consensus rating of “Hold” and an average target price of $93.00.

Shares of SWKS stock traded up $0.65 during trading hours on Friday, hitting $86.01. The stock had a trading volume of 25,886 shares, compared to its average volume of 1,626,940. The company has a market capitalization of $14.90 billion, a P/E ratio of 12.93, a PEG ratio of 1.28 and a beta of 0.68. Skyworks Solutions has a twelve month low of $60.12 and a twelve month high of $104.20.

Skyworks Solutions announced that its Board of Directors has initiated a share repurchase program on Tuesday, February 5th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the semiconductor manufacturer to purchase up to 15.4% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 19th. Shareholders of record on Tuesday, February 26th were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date was Monday, February 25th. Skyworks Solutions’s payout ratio is 22.93%.

In other Skyworks Solutions news, Director David J. Aldrich sold 3,000 shares of the firm’s stock in a transaction dated Friday, February 8th. The stock was sold at an average price of $81.05, for a total value of $243,150.00. Following the sale, the director now directly owns 203,922 shares of the company’s stock, valued at approximately $16,527,878.10. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director David J. Aldrich sold 5,000 shares of the firm’s stock in a transaction dated Friday, March 29th. The stock was sold at an average price of $81.43, for a total value of $407,150.00. Following the completion of the sale, the director now directly owns 205,922 shares in the company, valued at $16,768,228.46. The disclosure for this sale can be found here. Over the last three months, insiders sold 14,918 shares of company stock worth $1,187,203. 0.47% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of the business. BMT Investment Advisors lifted its stake in shares of Skyworks Solutions by 17.2% in the 1st quarter. BMT Investment Advisors now owns 25,108 shares of the semiconductor manufacturer’s stock valued at $2,071,000 after purchasing an additional 3,692 shares in the last quarter. New England Research & Management Inc. acquired a new position in Skyworks Solutions during the 1st quarter worth approximately $938,000. Smithbridge Asset Management Inc. DE lifted its position in Skyworks Solutions by 2.9% during the 1st quarter. Smithbridge Asset Management Inc. DE now owns 36,253 shares of the semiconductor manufacturer’s stock worth $2,990,000 after acquiring an additional 1,010 shares in the last quarter. Pensionfund DSM Netherlands lifted its position in Skyworks Solutions by 16.3% during the 1st quarter. Pensionfund DSM Netherlands now owns 28,600 shares of the semiconductor manufacturer’s stock worth $2,359,000 after acquiring an additional 4,000 shares in the last quarter. Finally, Deutsche Bank AG lifted its position in Skyworks Solutions by 46.9% during the 4th quarter. Deutsche Bank AG now owns 1,875,809 shares of the semiconductor manufacturer’s stock worth $125,710,000 after acquiring an additional 598,980 shares in the last quarter. 82.03% of the stock is currently owned by hedge funds and other institutional investors.

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, 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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