Skyworks Solutions (NASDAQ:SWKS) Posts Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Skyworks Solutions (NASDAQ:SWKS) posted its quarterly earnings data on Tuesday. The semiconductor manufacturer reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.01, FiscalAI reports. The company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.04 billion. Skyworks Solutions had a net margin of 7.23% and a return on equity of 10.74%.

Skyworks Solutions Trading Up 0.3%

SWKS traded up $0.23 during trading on Tuesday, reaching $85.40. The company had a trading volume of 4,893,037 shares, compared to its average volume of 5,112,989. The company has a quick ratio of 1.94, a current ratio of 3.10 and a debt-to-equity ratio of 0.09. The business has a 50 day simple moving average of $80.84 and a 200-day simple moving average of $67.68. The stock has a market cap of $12.85 billion, a P/E ratio of 44.25, a PEG ratio of 2.38 and a beta of 1.48. Skyworks Solutions has a 52 week low of $51.93 and a 52 week high of $92.80.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. TD Cowen cut their price objective on shares of Skyworks Solutions from $75.00 to $65.00 and set a “hold” rating for the company in a research report on Wednesday, July 29th. Stifel Nicolaus reduced their price objective on shares of Skyworks Solutions from $75.00 to $70.00 and set a “hold” rating for the company in a research note on Wednesday, July 29th. B. Riley Financial upgraded shares of Skyworks Solutions from a “neutral” rating to a “buy” rating and lifted their target price for the company from $68.00 to $107.00 in a research note on Tuesday, October 6th. Mizuho increased their price target on Skyworks Solutions from $52.00 to $61.00 and gave the stock an “underperform” rating in a research note on Friday, October 9th. Finally, Susquehanna raised their price target on Skyworks Solutions from $65.00 to $90.00 and gave the company a “neutral” rating in a report on Wednesday, October 21st. Four investment analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $79.00.

Skyworks Solutions Company Profile

Skyworks Solutions, Inc (NASDAQ: SWKS) is a semiconductor company that designs and manufactures high-performance analog and mixed-signal products for wireless connectivity applications. Its portfolio includes radio-frequency front-end modules, amplifiers, filters, switches, antenna tuners, and other integrated solutions used to transmit, receive, and manage wireless signals.

The company serves a range of markets, including smartphones and other mobile devices, automotive systems, industrial equipment, home automation, medical devices, aerospace, and defense.