Skyworks Solutions (NASDAQ:SWKS) Releases Quarterly Earnings Results, Hits Expectations

Skyworks Solutions (NASDAQ:SWKS) posted its quarterly earnings results on Tuesday. The semiconductor manufacturer reported $1.21 EPS for the quarter, hitting analysts’ consensus estimates of $1.21, Briefing.com reports. The business had revenue of $905.50 million during the quarter, compared to analysts’ expectations of $900.41 million. Skyworks Solutions had a net margin of 18.85% and a return on equity of 17.00%. The business’s quarterly revenue was down 15.5% on a year-over-year basis. During the same period last year, the company posted $1.50 earnings per share. Skyworks Solutions updated its Q4 guidance to approx $1.52 EPS and its Q4 2024 guidance to 1.520-1.520 EPS.

Skyworks Solutions Stock Down 7.3 %

SWKS stock traded down $8.58 during trading on Wednesday, hitting $109.11. 549,500 shares of the stock traded hands, compared to its average volume of 2,460,123. Skyworks Solutions has a 1 year low of $85.06 and a 1 year high of $120.86. The firm’s 50 day moving average is $104.56 and its two-hundred day moving average is $103.18. The stock has a market cap of $17.51 billion, a price-to-earnings ratio of 22.12, a price-to-earnings-growth ratio of 5.59 and a beta of 1.23. The company has a debt-to-equity ratio of 0.16, a current ratio of 5.19 and a quick ratio of 3.81.

Skyworks Solutions Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Tuesday, August 20th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.57%. This is an increase from Skyworks Solutions’s previous quarterly dividend of $0.68. Skyworks Solutions’s dividend payout ratio is 51.13%.

Wall Street Analyst Weigh In

SWKS has been the topic of several research reports. UBS Group lowered their price objective on shares of Skyworks Solutions from $110.00 to $100.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 1st. Piper Sandler lowered their price objective on shares of Skyworks Solutions from $105.00 to $95.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 1st. Benchmark lowered shares of Skyworks Solutions from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. B. Riley raised shares of Skyworks Solutions from a “neutral” rating to a “buy” rating and boosted their price target for the company from $96.00 to $130.00 in a research report on Thursday, June 20th. Finally, Wells Fargo & Company lowered their price target on shares of Skyworks Solutions from $110.00 to $100.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Skyworks Solutions has a consensus rating of “Hold” and an average target price of $110.94.

Insider Activity at Skyworks Solutions

In related news, VP Philip Matthew Carter sold 452 shares of the firm’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $110.00, for a total value of $49,720.00. Following the transaction, the vice president now owns 9,564 shares of the company’s stock, valued at $1,052,040. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Skyworks Solutions news, VP Philip Matthew Carter sold 452 shares of Skyworks Solutions stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $110.00, for a total transaction of $49,720.00. Following the transaction, the vice president now owns 9,564 shares of the company’s stock, valued at $1,052,040. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Liam Griffin purchased 11,142 shares of the stock in a transaction on Thursday, May 2nd. The shares were purchased at an average cost of $90.00 per share, for a total transaction of $1,002,780.00. Following the acquisition, the chief executive officer now directly owns 104,153 shares of the company’s stock, valued at $9,373,770. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 26,337 shares of company stock valued at $2,399,797. 0.34% of the stock is owned by insiders.

About Skyworks Solutions

Skyworks Solutions, Inc, together with its subsidiaries, designs, develops, manufactures, and markets proprietary semiconductor products in the United States, China, South Korea, Taiwan, Europe, the Middle East, Africa, and the rest of Asia-Pacific. Its product portfolio includes amplifiers, antenna tuners, attenuators, automotive tuners and digital radios, DC/DC converters, demodulators, detectors, diodes, wireless analog system on chip products, directional couplers, diversity receive modules, filters, front-end modules, hybrids, light emitting diode drivers, low noise amplifiers, mixers, modulators, optocouplers/optoisolators, phase locked loops, phase shifters, power dividers/combiners, power over ethernet, power isolators, receivers, switches, synthesizers, timing devices, voltage controlled oscillators/synthesizers, and voltage regulators.