Brokerages Anticipate Skyworks Solutions Inc (NASDAQ:SWKS) Will Post Quarterly Sales of $825.39 Million

Equities analysts expect Skyworks Solutions Inc (NASDAQ:SWKS) to post sales of $825.39 million for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have made estimates for Skyworks Solutions’ earnings, with the lowest sales estimate coming in at $825.00 million and the highest estimate coming in at $827.12 million. Skyworks Solutions reported sales of $1.01 billion during the same quarter last year, which would suggest a negative year over year growth rate of 18.3%. The firm is scheduled to report its next earnings report on Thursday, November 14th.

On average, analysts expect that Skyworks Solutions will report full year sales of $3.38 billion for the current year, with estimates ranging from $3.37 billion to $3.39 billion. For the next year, analysts expect that the company will post sales of $3.38 billion, with estimates ranging from $3.28 billion to $3.54 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover Skyworks Solutions.

Skyworks Solutions (NASDAQ:SWKS) last released its earnings results on Wednesday, August 7th. The semiconductor manufacturer reported $1.35 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.21 by $0.14. Skyworks Solutions had a net margin of 26.10% and a return on equity of 26.60%. The business had revenue of $767.00 million during the quarter, compared to analysts’ expectations of $767.71 million. During the same quarter last year, the company earned $1.64 earnings per share. The firm’s revenue was down 14.2% on a year-over-year basis.



SWKS has been the subject of a number of research reports. Barclays downgraded Skyworks Solutions from an “overweight” rating to an “equal weight” rating and raised their price objective for the stock from $75.00 to $80.00 in a research report on Thursday, July 18th. Argus cut Skyworks Solutions from a “buy” rating to a “hold” rating and set a $69.00 price objective on the stock. in a research report on Friday, June 7th. Piper Jaffray Companies cut their target price on Skyworks Solutions from $100.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday, June 5th. Zacks Investment Research cut Skyworks Solutions from a “hold” rating to a “sell” rating and set a $85.00 target price for the company. in a research report on Wednesday, August 7th. Finally, BidaskClub upgraded shares of Skyworks Solutions from a “sell” rating to a “hold” rating in a research note on Saturday. Three equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and eleven have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $86.40.

In other Skyworks Solutions news, Director Timothy R. Furey sold 2,500 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $73.51, for a total transaction of $183,775.00. Following the sale, the director now directly owns 24,324 shares of the company’s stock, valued at $1,788,057.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director David J. Aldrich sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $75.50, for a total transaction of $377,500.00. Following the sale, the director now directly owns 208,032 shares of the company’s stock, valued at approximately $15,706,416. The disclosure for this sale can be found here. Insiders have sold a total of 48,499 shares of company stock valued at $3,896,149 over the last three months. 0.64% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SWKS. FMR LLC increased its holdings in Skyworks Solutions by 63.8% during the 1st quarter. FMR LLC now owns 3,517,246 shares of the semiconductor manufacturer’s stock valued at $290,102,000 after purchasing an additional 1,370,337 shares in the last quarter. Artisan Partners Limited Partnership bought a new stake in shares of Skyworks Solutions during the first quarter worth $81,554,000. Nuveen Asset Management LLC grew its holdings in shares of Skyworks Solutions by 20,005.5% during the second quarter. Nuveen Asset Management LLC now owns 937,520 shares of the semiconductor manufacturer’s stock worth $72,442,000 after purchasing an additional 932,857 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of Skyworks Solutions by 26.4% in the second quarter. AQR Capital Management LLC now owns 3,708,676 shares of the semiconductor manufacturer’s stock valued at $286,347,000 after buying an additional 775,470 shares in the last quarter. Finally, Platinum Investment Management Ltd. increased its stake in shares of Skyworks Solutions by 32.4% in the second quarter. Platinum Investment Management Ltd. now owns 2,553,417 shares of the semiconductor manufacturer’s stock valued at $197,303,000 after buying an additional 625,029 shares in the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

Skyworks Solutions stock traded up $3.21 during trading hours on Friday, hitting $83.51. The stock had a trading volume of 2,069,699 shares, compared to its average volume of 2,007,218. The company has a 50-day moving average of $78.65 and a two-hundred day moving average of $79.74. The company has a market cap of $13.69 billion, a PE ratio of 12.60, a price-to-earnings-growth ratio of 1.70 and a beta of 1.02. Skyworks Solutions has a fifty-two week low of $60.12 and a fifty-two week high of $94.39.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, August 27th will be given a dividend of $0.44 per share. The ex-dividend date is Monday, August 26th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.11%. This is a boost from Skyworks Solutions’s previous quarterly dividend of $0.38. Skyworks Solutions’s dividend payout ratio (DPR) is 26.55%.

Skyworks Solutions Company Profile

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.

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