Skyworks Solutions (NASDAQ:SWKS) Issues Earnings Results

by · The Cerbat Gem

Skyworks Solutions (NASDAQ:SWKSGet Free Report) posted its earnings results on Tuesday. The semiconductor manufacturer reported $1.54 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.13, FiscalAI reports. The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $999.02 million. Skyworks Solutions had a return on equity of 12.01% and a net margin of 11.67%.

Skyworks Solutions Price Performance

SWKS traded down $0.79 on Tuesday, reaching $56.04. The stock had a trading volume of 3,650,861 shares, compared to its average volume of 4,416,450. The company has a current ratio of 2.33, a quick ratio of 1.76 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $8.40 billion, a price-to-earnings ratio of 18.25 and a beta of 1.33. Skyworks Solutions has a fifty-two week low of $47.93 and a fifty-two week high of $90.90. The firm has a 50-day moving average of $63.08 and a 200-day moving average of $69.73.

Insider Activity

In other Skyworks Solutions news, EVP Reza Kasnavi sold 7,332 shares of the stock in a transaction that occurred on Wednesday, November 19th. The shares were sold at an average price of $62.26, for a total transaction of $456,490.32. Following the completion of the sale, the executive vice president owned 26,087 shares of the company’s stock, valued at approximately $1,624,176.62. This represents a 21.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Robert John Terry sold 4,945 shares of the business’s stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $62.28, for a total transaction of $307,974.60. Following the completion of the transaction, the senior vice president owned 19,824 shares in the company, valued at $1,234,638.72. This trade represents a 19.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.28% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of SWKS. Parallel Advisors LLC grew its holdings in Skyworks Solutions by 5.3% during the third quarter. Parallel Advisors LLC now owns 3,233 shares of the semiconductor manufacturer’s stock worth $249,000 after buying an additional 163 shares in the last quarter. Brown Brothers Harriman & Co. lifted its holdings in Skyworks Solutions by 70.7% during the third quarter. Brown Brothers Harriman & Co. now owns 560 shares of the semiconductor manufacturer’s stock worth $43,000 after acquiring an additional 232 shares during the period. Larson Financial Group LLC boosted its position in Skyworks Solutions by 18.2% in the third quarter. Larson Financial Group LLC now owns 2,229 shares of the semiconductor manufacturer’s stock worth $172,000 after purchasing an additional 343 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in Skyworks Solutions by 46.2% in the 2nd quarter. Smartleaf Asset Management LLC now owns 1,121 shares of the semiconductor manufacturer’s stock valued at $84,000 after purchasing an additional 354 shares during the period. Finally, Advisory Services Network LLC raised its stake in shares of Skyworks Solutions by 2.4% during the 3rd quarter. Advisory Services Network LLC now owns 15,496 shares of the semiconductor manufacturer’s stock worth $1,193,000 after purchasing an additional 361 shares during the period. Institutional investors and hedge funds own 85.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SWKS. Barclays cut their price objective on shares of Skyworks Solutions from $88.00 to $60.00 and set an “equal weight” rating for the company in a research report on Thursday, January 15th. JPMorgan Chase & Co. upped their price target on shares of Skyworks Solutions from $66.00 to $74.00 and gave the stock a “neutral” rating in a report on Wednesday, November 5th. UBS Group decreased their price objective on shares of Skyworks Solutions from $80.00 to $63.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 20th. B. Riley cut their target price on Skyworks Solutions from $70.00 to $60.00 and set a “neutral” rating for the company in a research note on Monday, January 26th. Finally, BNP Paribas Exane reduced their target price on Skyworks Solutions from $73.00 to $60.00 and set a “neutral” rating on the stock in a report on Wednesday, January 21st. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, eighteen have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $75.67.

View Our Latest Research Report on Skyworks Solutions

About Skyworks Solutions

(Get Free Report)

Skyworks Solutions, Inc is a leading semiconductor company that designs and manufactures analog and mixed-signal semiconductors for use in radio frequency (RF) and mobile communications markets. The company’s portfolio includes power amplifiers, front-end modules, switches, filters, low-noise amplifiers, and other components that enable wireless connectivity in smartphones, tablets, wearables, automotive telematics, and broadband infrastructure. With a focus on energy efficiency and integration, Skyworks serves a broad range of customers in the mobile, Internet of Things (IoT), automotive, connected home, and industrial end markets.

Headquartered in Irvine, California, Skyworks operates a network of design, development, and manufacturing facilities across North America, Europe, and the Asia-Pacific region.

Further Reading