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

Key Points

• Skyworks Solutions beat quarterly estimates, reporting EPS of $1.28 versus the $1.27 consensus and revenue of $1.05 billion versus expectations of $1.04 billion.
• The stock rose 0.3% to $85.40 in Tuesday trading. The company reported a 7.23% net margin and 10.74% return on equity.
• Analyst sentiment remains mostly cautious: 16 analysts rate the stock Hold, compared with four Buy and two Sell ratings; the consensus price target is $79.

Skyworks Solutions (NASDAQ:SWKS - Get Free Report) 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.