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

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

Skyworks Solutions Trading Down 7.6 %

Shares of Skyworks Solutions stock traded down $8.92 during mid-day trading on Wednesday, hitting $108.77. 1,919,248 shares of the stock were exchanged, compared to its average volume of 2,469,505. Skyworks Solutions has a twelve month low of $85.06 and a twelve month high of $120.86. The stock has a market capitalization of $17.45 billion, a price-to-earnings ratio of 20.57, a price-to-earnings-growth ratio of 5.59 and a beta of 1.23. The company has a 50-day simple moving average of $104.56 and a 200 day simple moving average of $103.18. The company has a current ratio of 5.19, a quick ratio of 3.81 and a debt-to-equity ratio of 0.16.

Skyworks Solutions Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 20th will be paid a dividend of $0.70 per share. This is a boost from Skyworks Solutions’s previous quarterly dividend of $0.68. This represents a $2.80 annualized dividend and a dividend yield of 2.57%. Skyworks Solutions’s dividend payout ratio (DPR) is currently 51.13%.

Insiders Place Their Bets

In other Skyworks Solutions news, Director Robert A. Schriesheim sold 25,433 shares of the firm’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $90.27, for a total transaction of $2,295,836.91. Following the sale, the director now directly owns 60,881 shares of the company’s stock, valued at approximately $5,495,727.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Robert A. Schriesheim sold 25,433 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $90.27, for a total value of $2,295,836.91. Following the transaction, the director now owns 60,881 shares in the company, valued at $5,495,727.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Liam Griffin purchased 11,142 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The stock was bought at an average price of $90.00 per share, with a total value of $1,002,780.00. Following the purchase, the chief executive officer now owns 104,153 shares of the company’s stock, valued at approximately $9,373,770. The disclosure for this purchase can be found here. Insiders have sold 26,337 shares of company stock valued at $2,399,797 in the last ninety days. Insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

SWKS has been the topic of a number of research analyst reports. Wolfe Research downgraded shares of Skyworks Solutions from an “outperform” rating to a “peer perform” rating in a research note on Thursday, May 9th. Craig Hallum upped their target price on shares of Skyworks Solutions from $125.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday. UBS Group decreased their price target on shares of Skyworks Solutions from $110.00 to $100.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. Wells Fargo & Company decreased their price target on shares of Skyworks Solutions from $110.00 to $100.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 1st. Finally, Rosenblatt Securities increased their price target on shares of Skyworks Solutions from $120.00 to $130.00 and gave the stock a “buy” rating in a research note on Wednesday. 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. Based on data from MarketBeat.com, Skyworks Solutions currently has an average rating of “Hold” and an average target price of $112.81.

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.