Skyworks Solutions (NASDAQ:SWKS) Issues Q4 2022 Earnings Guidance

Skyworks Solutions (NASDAQ:SWKSGet Rating) issued an update on its fourth quarter 2022 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $2.90-$2.90 for the period, compared to the consensus estimate of $2.93. The company issued revenue guidance of $1.38 billion-$1.43 billion, compared to the consensus revenue estimate of $1.42 billion. Skyworks Solutions also updated its Q4 guidance to $2.90 EPS.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on SWKS. Cowen set a $132.00 price objective on Skyworks Solutions in a research note on Tuesday, July 19th. Barclays decreased their target price on Skyworks Solutions from $125.00 to $122.00 and set an equal weight rating on the stock in a research report on Monday, July 25th. Susquehanna dropped their price objective on shares of Skyworks Solutions from $160.00 to $135.00 in a research note on Wednesday, May 4th. TheStreet cut shares of Skyworks Solutions from a b- rating to a c+ rating in a research report on Tuesday, June 21st. Finally, KeyCorp reduced their price objective on Skyworks Solutions from $160.00 to $140.00 and set an overweight rating on the stock in a research note on Tuesday, July 12th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat, Skyworks Solutions has an average rating of Hold and an average price target of $142.95.

Skyworks Solutions Stock Performance

SWKS traded up $1.60 during trading on Thursday, reaching $113.52. 3,782,632 shares of the company’s stock were exchanged, compared to its average volume of 2,072,299. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.98 and a quick ratio of 2.65. Skyworks Solutions has a 1 year low of $88.76 and a 1 year high of $187.94. The company’s fifty day simple moving average is $100.90 and its 200-day simple moving average is $117.91. The stock has a market capitalization of $18.27 billion, a P/E ratio of 13.79, a price-to-earnings-growth ratio of 1.03 and a beta of 1.20.

Skyworks Solutions (NASDAQ:SWKSGet Rating) last announced its quarterly earnings results on Tuesday, May 3rd. The semiconductor manufacturer reported $2.29 earnings per share for the quarter, topping the consensus estimate of $2.23 by $0.06. Skyworks Solutions had a return on equity of 30.60% and a net margin of 25.98%. The company had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same period last year, the firm earned $2.03 EPS. The firm’s revenue for the quarter was up 14.0% compared to the same quarter last year. As a group, research analysts predict that Skyworks Solutions will post 9.8 earnings per share for the current fiscal year.

Skyworks Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Thursday, August 25th will be paid a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 2.18%. This is a positive change from Skyworks Solutions’s previous quarterly dividend of $0.56. Skyworks Solutions’s payout ratio is currently 27.22%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in SWKS. Lazard Asset Management LLC lifted its stake in Skyworks Solutions by 7.9% in the 1st quarter. Lazard Asset Management LLC now owns 2,880,928 shares of the semiconductor manufacturer’s stock valued at $383,969,000 after buying an additional 209,777 shares in the last quarter. Renaissance Technologies LLC purchased a new position in shares of Skyworks Solutions in the first quarter valued at approximately $22,762,000. Invesco Ltd. boosted its stake in shares of Skyworks Solutions by 11.9% in the first quarter. Invesco Ltd. now owns 1,366,381 shares of the semiconductor manufacturer’s stock worth $182,110,000 after acquiring an additional 145,794 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Skyworks Solutions by 37.7% during the first quarter. Goldman Sachs Group Inc. now owns 470,638 shares of the semiconductor manufacturer’s stock worth $62,726,000 after purchasing an additional 128,844 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in Skyworks Solutions by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 18,027,044 shares of the semiconductor manufacturer’s stock valued at $2,402,644,000 after purchasing an additional 94,095 shares during the last quarter. Hedge funds and other institutional investors own 72.09% of the company’s stock.

About Skyworks Solutions

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Skyworks Solutions, Inc, together with its subsidiaries, designs, develops, manufactures, and markets proprietary semiconductor products, including intellectual property in the United States, China, South Korea, Taiwan, Europe, the Middle East, Africa, and rest of Asia-Pacific. Its product portfolio includes amplifiers, antenna tuners, attenuators, automotive tuners and digital radios, circulators/isolators, 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, receivers, switches, synthesizers, timing devices, technical ceramics, voltage controlled oscillators/synthesizers, and voltage regulators.

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Earnings History and Estimates for Skyworks Solutions (NASDAQ:SWKS)

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