Skyworks Solutions Inc (NASDAQ:SWKS) Expected to Announce Quarterly Sales of $765.94 Million

Share on StockTwits

Analysts expect Skyworks Solutions Inc (NASDAQ:SWKS) to announce $765.94 million in sales for the current quarter, Zacks reports. Eight analysts have made estimates for Skyworks Solutions’ earnings, with the highest sales estimate coming in at $770.55 million and the lowest estimate coming in at $765.00 million. Skyworks Solutions posted sales of $894.30 million during the same quarter last year, which would indicate a negative year over year growth rate of 14.4%. The business is expected to report its next quarterly earnings results on Thursday, July 18th.

According to Zacks, analysts expect that Skyworks Solutions will report full year sales of $3.39 billion for the current fiscal year, with estimates ranging from $3.34 billion to $3.44 billion. For the next year, analysts forecast that the company will post sales of $3.44 billion, with estimates ranging from $3.27 billion to $3.65 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for Skyworks Solutions.

Skyworks Solutions (NASDAQ:SWKS) last released its quarterly earnings results on Thursday, May 2nd. The semiconductor manufacturer reported $1.47 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.04. The firm had revenue of $810.40 million for the quarter, compared to analysts’ expectations of $809.52 million. Skyworks Solutions had a return on equity of 28.25% and a net margin of 29.06%. The company’s revenue was down 11.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.64 EPS.

SWKS has been the subject of a number of research analyst reports. TheStreet raised Skyworks Solutions from a “c+” rating to a “b-” rating in a report on Wednesday, February 27th. BidaskClub raised shares of Skyworks Solutions from a “hold” rating to a “buy” rating in a research report on Saturday, April 13th. Canaccord Genuity upped their target price on shares of Skyworks Solutions from $84.00 to $99.00 and gave the company a “buy” rating in a report on Friday, May 3rd. Craig Hallum reaffirmed a “buy” rating and issued a $105.00 target price (up from $90.00) on shares of Skyworks Solutions in a report on Friday, May 3rd. Finally, Zacks Investment Research upgraded shares of Skyworks Solutions from a “hold” rating to a “buy” rating and set a $94.00 price target on the stock in a research note on Thursday, May 9th. Three analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and twelve have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $87.40.

SWKS traded down $1.07 on Friday, hitting $72.90. 63,817 shares of the company were exchanged, compared to its average volume of 2,095,187. Skyworks Solutions has a 12 month low of $60.12 and a 12 month high of $103.95. The firm has a market cap of $12.58 billion, a price-to-earnings ratio of 11.01, a PEG ratio of 1.22 and a beta of 0.92.

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 11th. Stockholders of record on Tuesday, May 21st were given a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 2.09%. The ex-dividend date was Monday, May 20th. Skyworks Solutions’s dividend payout ratio (DPR) is currently 22.93%.

In other news, CTO Peter L. Gammel sold 1,881 shares of the business’s stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $93.53, for a total value of $175,929.93. Following the completion of the sale, the chief technology officer now directly owns 9,240 shares in the company, valued at $864,217.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CTO Peter L. Gammel sold 2,250 shares of the business’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $77.43, for a total transaction of $174,217.50. Following the completion of the sale, the chief technology officer now owns 11,490 shares of the company’s stock, valued at $889,670.70. The disclosure for this sale can be found here. Over the last three months, insiders sold 111,964 shares of company stock worth $9,787,005. 0.64% of the stock is currently owned by insiders.

Hedge funds have recently made changes to their positions in the stock. Oppenheimer Asset Management Inc. purchased a new position in Skyworks Solutions during the fourth quarter valued at $832,000. Keybank National Association OH grew its stake in shares of Skyworks Solutions by 3.8% during the fourth quarter. Keybank National Association OH now owns 4,992 shares of the semiconductor manufacturer’s stock valued at $335,000 after buying an additional 182 shares during the last quarter. Advisors Asset Management Inc. raised its stake in Skyworks Solutions by 42.7% in the 4th quarter. Advisors Asset Management Inc. now owns 4,407 shares of the semiconductor manufacturer’s stock worth $295,000 after acquiring an additional 1,319 shares during the last quarter. TD Asset Management Inc. raised its stake in Skyworks Solutions by 5.4% in the 4th quarter. TD Asset Management Inc. now owns 193,557 shares of the semiconductor manufacturer’s stock worth $12,972,000 after acquiring an additional 9,871 shares during the last quarter. Finally, ETF Managers Group LLC grew its position in Skyworks Solutions by 496.2% during the 4th quarter. ETF Managers Group LLC now owns 6,695 shares of the semiconductor manufacturer’s stock worth $449,000 after purchasing an additional 5,572 shares during the period. 81.08% of the stock is currently owned by institutional investors and hedge funds.

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.

Recommended Story: Rule of 72

Get a free copy of the Zacks research report on Skyworks Solutions (SWKS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Skyworks Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Skyworks Solutions and related companies with MarketBeat.com's FREE daily email newsletter.