Skyworks Solutions Inc (SWKS) Expected to Post Earnings of $1.42 Per Share
Wall Street brokerages expect Skyworks Solutions Inc (NASDAQ:SWKS) to announce $1.42 earnings per share for the current quarter, Zacks Investment Research reports. Eight analysts have issued estimates for Skyworks Solutions’ earnings. Skyworks Solutions posted earnings of $1.15 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 23.5%. The company is scheduled to report its next quarterly earnings results on Thursday, July 20th.
On average, analysts expect that Skyworks Solutions will report full year earnings of $5.89 per share for the current year, with EPS estimates ranging from $5.86 to $5.93. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side analysts that that provide coverage for Skyworks Solutions.
Skyworks Solutions (NASDAQ:SWKS) last announced its earnings results on Thursday, April 27th. The semiconductor manufacturer reported $1.33 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.30 by $0.03. Skyworks Solutions had a return on equity of 27.80% and a net margin of 27.40%. The business had revenue of $851.70 million for the quarter, compared to analysts’ expectations of $840.43 million. During the same period in the prior year, the business posted $1.25 earnings per share. The firm’s revenue was up 9.9% on a year-over-year basis.
SWKS has been the topic of a number of recent analyst reports. Vetr lowered Skyworks Solutions from a “buy” rating to a “hold” rating and set a $101.62 price objective on the stock. in a research report on Monday, April 3rd. Craig Hallum lifted their price objective on Skyworks Solutions from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Tuesday, April 4th. Zacks Investment Research lowered Skyworks Solutions from a “buy” rating to a “hold” rating in a research report on Tuesday, March 21st. ValuEngine lowered Skyworks Solutions from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, Canaccord Genuity lifted their price objective on Skyworks Solutions from $105.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, April 28th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the stock. Skyworks Solutions has a consensus rating of “Buy” and an average target price of $100.60.
In related news, insider Liam Griffin sold 18,250 shares of Skyworks Solutions stock in a transaction on Thursday, May 11th. The stock was sold at an average price of $101.88, for a total value of $1,859,310.00. Following the completion of the sale, the insider now owns 64,466 shares of the company’s stock, valued at $6,567,796.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Peter L. Gammel sold 1,500 shares of Skyworks Solutions stock in a transaction on Monday, April 17th. The stock was sold at an average price of $97.92, for a total value of $146,880.00. Following the completion of the sale, the insider now directly owns 17,605 shares of the company’s stock, valued at approximately $1,723,881.60. The disclosure for this sale can be found here. Insiders sold 91,458 shares of company stock valued at $9,278,031 in the last 90 days. Company insiders own 0.62% of the company’s stock.
Several hedge funds have recently modified their holdings of SWKS. BlackRock Inc. raised its stake in shares of Skyworks Solutions by 3,071.2% in the first quarter. BlackRock Inc. now owns 12,053,655 shares of the semiconductor manufacturer’s stock valued at $1,181,019,000 after buying an additional 11,673,555 shares during the last quarter. Winslow Capital Management LLC purchased a new stake in shares of Skyworks Solutions during the first quarter valued at approximately $205,388,000. Norges Bank purchased a new stake in shares of Skyworks Solutions during the fourth quarter valued at approximately $134,561,000. Boston Partners purchased a new stake in shares of Skyworks Solutions during the first quarter valued at approximately $82,702,000. Finally, AQR Capital Management LLC raised its stake in shares of Skyworks Solutions by 138.9% in the first quarter. AQR Capital Management LLC now owns 1,406,274 shares of the semiconductor manufacturer’s stock valued at $137,787,000 after buying an additional 817,721 shares during the last quarter. 82.29% of the stock is owned by institutional investors.
Shares of Skyworks Solutions (NASDAQ:SWKS) traded up 1.24% during mid-day trading on Thursday, reaching $106.73. The company had a trading volume of 236,737 shares. The firm has a market capitalization of $19.69 billion, a PE ratio of 22.00 and a beta of 0.88. Skyworks Solutions has a 12-month low of $57.11 and a 12-month high of $106.74. The stock has a 50 day moving average price of $101.69 and a 200 day moving average price of $90.01.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 6th. Stockholders of record on Tuesday, May 16th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 1.06%. The ex-dividend date is Friday, May 12th. Skyworks Solutions’s dividend payout ratio is currently 23.63%.
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About Skyworks Solutions
Skyworks Solutions Inc designs, develops, manufactures and markets semiconductor products, including intellectual property. The Company’s analog semiconductors are connecting people, places, and things, spanning a number of new and unimagined applications within the automotive, broadband, cellular infrastructure, connected home, industrial, medical, military, smartphone, tablet and wearable markets.
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