Skyworks Solutions (NASDAQ:SWKS) Issues Quarterly Earnings Results, Beats Expectations By $0.13 EPS

Skyworks Solutions (NASDAQ:SWKSGet Free Report) announced 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. Skyworks Solutions had a net margin of 11.67% and a return on equity of 12.01%. The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $999.02 million.

Skyworks Solutions Price Performance

SWKS stock traded down $0.90 during trading on Tuesday, reaching $55.93. 5,440,505 shares of the company were exchanged, compared to its average volume of 4,529,591. The company has a market capitalization of $8.39 billion, a price-to-earnings ratio of 18.22 and a beta of 1.33. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.33 and a quick ratio of 1.76. The company has a 50-day moving average of $63.08 and a two-hundred day moving average of $69.73. Skyworks Solutions has a twelve month low of $47.93 and a twelve month high of $90.90.

Analyst Ratings Changes

A number of equities analysts have weighed in on SWKS shares. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Skyworks Solutions in a research report on Thursday, January 22nd. JPMorgan Chase & Co. boosted their target price on Skyworks Solutions from $66.00 to $74.00 and gave the stock a “neutral” rating in a report on Wednesday, November 5th. Cfra Research raised shares of Skyworks Solutions from a “moderate sell” rating to a “hold” rating in a report on Tuesday, October 28th. Royal Bank Of Canada initiated coverage on Skyworks Solutions in a report on Wednesday, January 14th. They set a “sector perform” rating and a $65.00 target price for the company. Finally, Susquehanna reduced their price target on Skyworks Solutions from $75.00 to $65.00 and set a “neutral” rating on the stock in a research report on Thursday, January 22nd. Two analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, eighteen have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $75.67.

View Our Latest Research Report on SWKS

Insiders Place Their Bets

In other news, SVP Robert John Terry sold 4,945 shares of Skyworks Solutions stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $62.28, for a total transaction of $307,974.60. Following the transaction, the senior vice president owned 19,824 shares in the company, valued at approximately $1,234,638.72. The trade was a 19.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Reza Kasnavi sold 7,332 shares of the firm’s stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $62.26, for a total transaction of $456,490.32. Following the transaction, the executive vice president owned 26,087 shares of the company’s stock, valued at approximately $1,624,176.62. The trade was a 21.94% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.28% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. CYBER HORNET ETFs LLC bought a new stake in shares of Skyworks Solutions in the 2nd quarter worth $32,000. MUFG Securities EMEA plc purchased a new stake in Skyworks Solutions during the second quarter worth about $33,000. Brown Brothers Harriman & Co. raised its position in Skyworks Solutions by 70.7% in 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. Smartleaf Asset Management LLC boosted its stake in Skyworks Solutions by 46.2% in the second quarter. Smartleaf Asset Management LLC now owns 1,121 shares of the semiconductor manufacturer’s stock valued at $84,000 after acquiring an additional 354 shares during the last quarter. Finally, Quadrant Capital Group LLC bought a new position in shares of Skyworks Solutions during the 3rd quarter valued at approximately $94,000. Institutional investors own 85.43% of the company’s stock.

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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.

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Earnings History for Skyworks Solutions (NASDAQ:SWKS)

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