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

Skyworks Solutions (NASDAQ:SWKS) announced its quarterly earnings data on Tuesday. The semiconductor manufacturer reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.13, FiscalAI reports. The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $999.02 million. Skyworks Solutions had a return on equity of 12.01% and a net margin of 11.67%.

Skyworks Solutions Price Performance

SWKS traded down $0.79 during midday trading on Tuesday, hitting $56.04. The stock had a trading volume of 3,650,861 shares, compared to its average volume of 4,416,450. Skyworks Solutions has a 1 year low of $47.93 and a 1 year high of $90.90. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.76 and a current ratio of 2.33. The business has a fifty day moving average of $63.08 and a 200 day moving average of $69.73. The company has a market cap of $8.40 billion, a P/E ratio of 18.25 and a beta of 1.33.

Insiders Place Their Bets

In related news, EVP Reza Kasnavi sold 7,332 shares of the stock in a transaction on Wednesday, November 19th. The shares were 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. This trade represents a 21.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Robert John Terry sold 4,945 shares of the business’s stock in a transaction on Wednesday, November 19th. The stock was sold at an average price of $62.28, for a total transaction of $307,974.60. Following the completion of the sale, the senior vice president directly owned 19,824 shares of the company’s stock, valued at $1,234,638.72. This represents a 19.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.28% of the stock is currently owned by corporate insiders.

Institutional Trading of Skyworks Solutions

Several hedge funds and other institutional investors have recently bought and sold shares of SWKS. CYBER HORNET ETFs LLC purchased a new stake in shares of Skyworks Solutions during the second quarter valued at approximately $32,000. MUFG Securities EMEA plc bought a new stake in Skyworks Solutions during the 2nd quarter valued at $33,000. Brown Brothers Harriman & Co. boosted its position in Skyworks Solutions by 70.7% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 560 shares of the semiconductor manufacturer’s stock valued at $43,000 after buying an additional 232 shares during the period. Smartleaf Asset Management LLC grew its holdings in Skyworks Solutions by 46.2% in the 2nd quarter. Smartleaf Asset Management LLC now owns 1,121 shares of the semiconductor manufacturer’s stock worth $84,000 after acquiring an additional 354 shares during the last quarter. Finally, Quadrant Capital Group LLC purchased a new position in shares of Skyworks Solutions in the third quarter valued at about $94,000. Institutional investors own 85.43% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on SWKS shares. Citigroup raised shares of Skyworks Solutions from a “sell” rating to a “neutral” rating and upped their price objective for the company from $66.00 to $105.00 in a report on Wednesday, October 29th. JPMorgan Chase & Co. increased their price target on shares of Skyworks Solutions from $66.00 to $74.00 and gave the stock a “neutral” rating in a report on Wednesday, November 5th. BNP Paribas Exane dropped their price objective on Skyworks Solutions from $73.00 to $60.00 and set a “neutral” rating for the company in a research note on Wednesday, January 21st. Benchmark restated a “hold” rating on shares of Skyworks Solutions in a research note on Wednesday, October 29th. Finally, Stifel Nicolaus set a $72.00 price target on Skyworks Solutions in a research report on Wednesday, November 5th. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, eighteen have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Skyworks Solutions has an average rating of “Hold” and an average price target of $75.67.

Skyworks Solutions Company Profile

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.