Skyworks Solutions (NASDAQ:SWKS) Issues Q3 2024 Earnings Guidance

Skyworks Solutions (NASDAQ:SWKS) issued an update on its third quarter 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 1.210-1.210 for the period, compared to the consensus earnings per share estimate of 1.470. The company issued revenue guidance of $882.0 million-$918.0 million, compared to the consensus revenue estimate of $1.0 billion.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on SWKS. Piper Sandler reaffirmed a neutral rating and issued a $90.00 price target on shares of Skyworks Solutions in a research note on Thursday, January 4th. Susquehanna boosted their target price on shares of Skyworks Solutions from $120.00 to $125.00 and gave the stock a positive rating in a research report on Wednesday, January 31st. Rosenblatt Securities restated a buy rating and set a $130.00 price target on shares of Skyworks Solutions in a report on Wednesday, January 31st. B. Riley upped their price objective on shares of Skyworks Solutions from $110.00 to $115.00 and gave the stock a neutral rating in a report on Wednesday, January 31st. Finally, StockNews.com lowered Skyworks Solutions from a buy rating to a hold rating in a report on Friday, March 29th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Hold and a consensus price target of $115.10.

Skyworks Solutions Stock Down 1.2 %

NASDAQ SWKS traded down $1.27 on Tuesday, reaching $106.59. The company had a trading volume of 3,508,063 shares, compared to its average volume of 2,309,100. The company’s fifty day moving average is $104.15 and its 200-day moving average is $101.91. Skyworks Solutions has a 1-year low of $85.06 and a 1-year high of $115.69. The firm has a market capitalization of $17.08 billion, a price-to-earnings ratio of 18.90, a price-to-earnings-growth ratio of 1.93 and a beta of 1.37. The company has a debt-to-equity ratio of 0.16, a quick ratio of 3.51 and a current ratio of 5.02.

Skyworks Solutions (NASDAQ:SWKS) last posted its quarterly earnings results on Tuesday, January 30th. The semiconductor manufacturer reported $1.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.95 by $0.02. Skyworks Solutions had a net margin of 19.48% and a return on equity of 18.68%. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same period in the prior year, the firm posted $2.33 earnings per share. The company’s quarterly revenue was down 9.6% compared to the same quarter last year. On average, research analysts forecast that Skyworks Solutions will post 5.65 earnings per share for the current fiscal year.

Skyworks Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 11th. Stockholders of record on Tuesday, May 21st will be given a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 2.55%. Skyworks Solutions’s payout ratio is 48.23%.

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.