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

Skyworks Solutions (NASDAQ:SWKS) updated its third quarter 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 1.210-1.210 for the period, compared to the consensus 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.

Analysts Set New Price Targets

A number of research firms have issued reports on SWKS. 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. TD Cowen upped their price target on shares of Skyworks Solutions from $115.00 to $125.00 and gave the company an outperform rating in a report on Wednesday, January 31st. Susquehanna upped their price target on shares of Skyworks Solutions from $120.00 to $125.00 and gave the company a positive rating in a report on Wednesday, January 31st. KeyCorp cut shares of Skyworks Solutions from an overweight rating to a sector weight rating in a report on Monday, April 8th. Finally, StockNews.com cut shares of Skyworks Solutions from a buy rating to a hold rating in a research note on Friday, March 29th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus target price of $115.10.

Skyworks Solutions Price Performance

NASDAQ:SWKS traded down $1.27 during mid-day trading on Tuesday, hitting $106.59. The company’s stock had a trading volume of 3,508,063 shares, compared to its average volume of 2,309,100. Skyworks Solutions has a fifty-two week low of $85.06 and a fifty-two week high of $115.69. The company has a current ratio of 5.02, a quick ratio of 3.51 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $17.08 billion, a price-to-earnings ratio of 18.90, a P/E/G ratio of 1.93 and a beta of 1.37. The stock has a fifty day moving average of $104.15 and a 200-day moving average of $101.91.

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. The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.20 billion. Skyworks Solutions had a net margin of 19.48% and a return on equity of 18.68%. The company’s quarterly revenue was down 9.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.33 earnings per share. As a group, equities analysts forecast that Skyworks Solutions will post 5.65 EPS for the current fiscal year.

Skyworks Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 11th. Stockholders of record on Tuesday, May 21st will be issued a dividend of $0.68 per share. This represents a $2.72 annualized dividend 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.