$980.58 Million in Sales Expected for Skyworks Solutions, Inc. (NASDAQ:SWKS) This Quarter
Equities research analysts expect that Skyworks Solutions, Inc. (NASDAQ:SWKS) will report $980.58 million in sales for the current fiscal quarter, according to Zacks Investment Research. Nine analysts have issued estimates for Skyworks Solutions’ earnings. The lowest sales estimate is $980.00 million and the highest is $982.30 million. Skyworks Solutions posted sales of $835.40 million during the same quarter last year, which suggests a positive year over year growth rate of 17.4%. The company is expected to announce its next earnings report on Thursday, November 2nd.
According to Zacks, analysts expect that Skyworks Solutions will report full year sales of $980.58 million for the current fiscal year. For the next year, analysts forecast that the company will post sales of $4.03 billion per share, with estimates ranging from $3.94 billion to $4.10 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that cover Skyworks Solutions.
Skyworks Solutions (NASDAQ:SWKS) last released its quarterly earnings data on Thursday, July 20th. The semiconductor manufacturer reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.52 by $0.05. Skyworks Solutions had a net margin of 27.86% and a return on equity of 28.67%. The company had revenue of $900.80 million during the quarter, compared to the consensus estimate of $890.58 million. During the same quarter in the prior year, the firm posted $1.24 earnings per share. Skyworks Solutions’s revenue for the quarter was up 19.8% on a year-over-year basis.
Several research firms have recently weighed in on SWKS. B. Riley reissued a “buy” rating and issued a $120.00 target price on shares of Skyworks Solutions in a research report on Wednesday, May 3rd. MKM Partners reissued a “buy” rating and issued a $115.00 target price on shares of Skyworks Solutions in a research report on Wednesday, July 26th. BidaskClub downgraded shares of Skyworks Solutions from a “strong-buy” rating to a “buy” rating in a research report on Thursday. Northland Securities reissued a “buy” rating and issued a $115.00 target price on shares of Skyworks Solutions in a research report on Friday. Finally, Vetr raised shares of Skyworks Solutions from a “buy” rating to a “strong-buy” rating and set a $117.35 target price for the company in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, twenty-two have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Skyworks Solutions presently has an average rating of “Buy” and a consensus target price of $109.28.
In related news, Director Christine King sold 3,500 shares of the business’s stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $108.84, for a total value of $380,940.00. Following the sale, the director now directly owns 16,436 shares in the company, valued at approximately $1,788,894.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Liam Griffin sold 8,056 shares of the business’s stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $105.31, for a total transaction of $848,377.36. Following the completion of the sale, the insider now owns 54,310 shares in the company, valued at $5,719,386.10. The disclosure for this sale can be found here. Insiders sold a total of 29,806 shares of company stock worth $3,088,627 over the last quarter. Insiders own 0.49% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Cadence Capital Management LLC increased its stake in Skyworks Solutions by 0.3% in the second quarter. Cadence Capital Management LLC now owns 7,687 shares of the semiconductor manufacturer’s stock worth $738,000 after buying an additional 21 shares during the last quarter. Winslow Evans & Crocker Inc. increased its stake in Skyworks Solutions by 3.3% in the second quarter. Winslow Evans & Crocker Inc. now owns 1,085 shares of the semiconductor manufacturer’s stock worth $104,000 after buying an additional 35 shares during the last quarter. Montag A & Associates Inc. increased its stake in Skyworks Solutions by 0.5% in the second quarter. Montag A & Associates Inc. now owns 9,108 shares of the semiconductor manufacturer’s stock worth $874,000 after buying an additional 41 shares during the last quarter. Cleararc Capital Inc. increased its stake in Skyworks Solutions by 1.1% in the first quarter. Cleararc Capital Inc. now owns 4,544 shares of the semiconductor manufacturer’s stock worth $445,000 after buying an additional 50 shares during the last quarter. Finally, First National Bank of Hutchinson increased its stake in Skyworks Solutions by 1.0% in the second quarter. First National Bank of Hutchinson now owns 6,774 shares of the semiconductor manufacturer’s stock worth $721,000 after buying an additional 70 shares during the last quarter. Institutional investors and hedge funds own 80.85% of the company’s stock.
Skyworks Solutions (NASDAQ SWKS) opened at 102.55 on Monday. Skyworks Solutions has a 1-year low of $65.14 and a 1-year high of $112.11. The firm has a market cap of $18.84 billion, a P/E ratio of 19.68 and a beta of 0.82. The firm has a 50-day moving average of $102.48 and a 200 day moving average of $99.30.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 29th. Investors of record on Tuesday, August 8th will be issued a $0.32 dividend. This is an increase from Skyworks Solutions’s previous quarterly dividend of $0.28. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date of this dividend is Friday, August 4th. Skyworks Solutions’s payout ratio is presently 21.50%.
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Skyworks Solutions Company Profile
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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