Skyworks Solutions

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We hold our 12-month target at $110 on P/E of 13.3x our CY 25 EPS estimate of $8.27, below peers/historical given anemic demand but we do see Jun-Q as the cyclical trough. We reduce our FY 24 (Sep.) EPS view to $6.22 from $7.03 and FY 25 to $8.01 from $8.90. SWKS posts Mar-Q EPS of $1.55 vs. $2.02, beating the $1.53 consensus. Sales fell 13% from Dec-Q and are seen falling another 14% in Jun-Q, below expectations, as mobile customers digest excess inventories. We note that weakness in mobility partly stems from Apple inventory unwind (38% of Mar-Q sales), with segment revenue seen declining 20%-25% seq. in Jun-Q after -19% in Mar-Q, well below historical seasonal trends. We are growing more concerned about SWKS’s business prospects, […]

The following is a summary of the Skyworks Solutions, Inc. (SWKS) Q2 2024 Earnings Call Transcript: Financial Performance: Skyworks reported a Q2 2024 revenue of $1.046 billion, with earnings per share at $1.55. The company generated $300 million of operating cash flow, and the gross profit was $471 million, resulting in a gross margin of 45%. Operating expenses were $192 million, with an operating margin of 26.7%. The company anticipates Q3 revenue to be $900 million, projecting a gross margin in the range of 45% to 47%. Business Progress: Despite observing below-normal seasonal trends and lower end market demand in mobile business in Q2, a modest sequential growth was seen in broad markets. Skyworks showed optimism about growing EV penetration, fueling demand for their power isolation products, despite near-term headwinds. A multiyear upgrade cycle is expected with a strong design win pipeline for Wi-Fi 6E and Wi-Fi 7 in edge

Skyworks Solutions, a semiconductor maker, is seeing weaker-than-expected demand for tablets and phones. The company, which makes networking components with industrial, defense and mobile-device applications, says with 2Q results that end-market demand in mobile, which includes smartphones, tablets and smartwatches, was below normal seasonal trends. Skyworks expects another sequential drop in mobile as inventory clears. The commentary may be an early sign that a broader recovery in the smartphone market is stumbling. Shares fall 9.5% to $96.51 after-hours.

Skyworks Solutions, Inc. (NASDAQ:SWKS) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/31/2024 20.48% Rosenblatt → $130 Reiterates Buy → Buy 01/04/2024 -16.59% Piper Sandler → $90 Downgrades Overweight → Neutral 12/18/2023 15.85% Mizuho $108 → $125 Maintains Buy 11/03/2023 20.48% Rosenblatt $150 → $130 Maintains Buy 11/03/2023 -16.59% Piper Sandler $125 → $90 Maintains Overweight 11/03/2023 1.95% Susquehanna $115 → $110 Maintains Positive 11/03/2023 -11.96% Morgan Stanley $112 → $95 Maintains Equal-Weight 11/03/2023 11.21% Keybanc $130 → $120 Maintains Overweight 11/03/2023 — Summit Insights Group Downgrades Buy → Hold 10/24/2023 6.58% Susquehanna $130 → $115 Maintains Positive 10/10/2023 -19.37% Citigroup $116 → $87 Downgrades Neutral → Sell 09/20/2023 1.95% Exane BNP Paribas → $110 Downgrades Outperform → Neutral 09/14/2023 20.48% Keybanc → $130 Reiterates Overweight → Overweight 08/08/2023 15.85% Piper Sandler $107 → $125 Maintains Overweight 08/08/2023 20.48% Susquehanna $125 →

Rosenblatt analyst Kevin Cassidy reiterates Skyworks Solutions (NASDAQ:SWKS) with a Buy and maintains $130 price target.

Skyworks Reports Q1 FY24 Results — Delivers Revenue of $1.202 Billion — Posts GAAP Diluted EPS of $1.44 and Non-GAAP Diluted EPS of $1.97 — Generates Record Operating Cash Flow of $775 Million and Record Free Cash Flow of $753 Million IRVINE, Calif.–(BUSINESS WIRE)–January 30, 2024– Skyworks Solutions, Inc. (Nasdaq: SWKS), an innovator of high-performance analog and mixed-signal semiconductors connecting people, places and things, today reported first fiscal quarter results for the period ended Dec. 29, 2023. Revenue for the first fiscal quarter of 2024 was $1.202 billion. On a GAAP basis, operating income for the first fiscal quarter was $258.3 million with diluted earnings per share of $1.44. On a non-GAAP basis, operating income was $365.7 million with non-GAAP diluted earnings per share of $1.97. “Skyworks continues to execute well and generate robust profitability in light of ongoing macroeconomic volatility,” said Liam K. Griffin, chairman, chief executive officer and

The following is a summary of the Skyworks Solutions, Inc. (SWKS) Q1 2024 Earnings Call Transcript: Financial Performance: Skyworks reported Q1 2024 revenue of $1.202 billion, slightly above the outlook, and earnings per share of $1.97. The company generated $775 million of operating cash flow and a record free cash flow of $753 million, reflecting a 63% free cash flow margin. Gross profit stood at $557 million, with a gross margin of 46.4%. The company achieved an operating income of $366 million, with an operating margin at 30.4%. The net income was reported as $317 million, and internal inventory was reduced by $193 million to $927 million. With over $1 billion in cash and investments and $1 billion in debt, the company maintains strong financial health. The Q2 2024 revenue outlook stands between $1.020 billion and $1.070 billion with a projected gross margin in the range of 45% to 46%.

Skyworks Solutions (NASDAQ:SWKS) is set to give its latest quarterly earnings report on Tuesday, 2024-01-30. Here’s what investors need to know before the announcement. Analysts estimate that Skyworks Solutions will report an earnings per share (EPS) of $1.95. Skyworks Solutions bulls will hope to hear the company announce they’ve not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter. New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).

Skyworks Solutions, Inc.  (NASDAQ:SWKS) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/04/2024 -13.79% Piper Sandler → $90 Downgrades Overweight → Neutral 12/18/2023 19.73% Mizuho $108 → $125 Maintains Buy 11/03/2023 24.52% Rosenblatt $150 → $130 Maintains Buy 11/03/2023 -13.79% Piper Sandler $125 → $90 Maintains Overweight 11/03/2023 5.36% Susquehanna $115 → $110 Maintains Positive 11/03/2023 -9% Morgan Stanley $112 → $95 Maintains Equal-Weight 11/03/2023 14.94% Keybanc $130 → $120 Maintains Overweight 11/03/2023 — Summit Insights Group Downgrades Buy → Hold 10/24/2023 10.15% Susquehanna $130 → $115 Maintains Positive 10/10/2023 -16.67% Citigroup $116 → $87 Downgrades Neutral → Sell 09/20/2023 5.36% Exane BNP Paribas → $110 Downgrades Outperform → Neutral 09/14/2023 24.52% Keybanc → $130 Reiterates Overweight → Overweight 08/08/2023 19.73% Piper Sandler $107 → $125 Maintains Overweight 08/08/2023 24.52% Susquehanna $125 → $130 Maintains Positive 08/08/2023 7.28% Morgan Stanley $104 →

Piper Sandler analyst Harsh Kumar downgrades Skyworks Solutions (NASDAQ:SWKS) from Overweight to Neutral and announces $90 price target.

Mizuho analyst Vijay Rakesh maintains Skyworks Solutions (NASDAQ:SWKS) with a Buy and raises the price target from $108 to $125.

Skyworks Solutions, Inc.  (NASDAQ:SWKS) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 12/18/2023 12.37% Mizuho $108 → $125 Maintains Buy 11/03/2023 16.86% Rosenblatt $150 → $130 Maintains Buy 11/03/2023 -19.09% Piper Sandler $125 → $90 Maintains Overweight 11/03/2023 -1.11% Susquehanna $115 → $110 Maintains Positive 11/03/2023 -14.6% Morgan Stanley $112 → $95 Maintains Equal-Weight 11/03/2023 7.87% Keybanc $130 → $120 Maintains Overweight 11/03/2023 — Summit Insights Group Downgrades Buy → Hold 10/24/2023 3.38% Susquehanna $130 → $115 Maintains Positive 10/10/2023 -21.79% Citigroup $116 → $87 Downgrades Neutral → Sell 09/20/2023 -1.11% Exane BNP Paribas → $110 Downgrades Outperform → Neutral 09/14/2023 16.86% Keybanc → $130 Reiterates Overweight → Overweight 08/08/2023 12.37% Piper Sandler $107 → $125 Maintains Overweight 08/08/2023 16.86% Susquehanna $125 → $130 Maintains Positive 08/08/2023 0.68% Morgan Stanley $104 → $112 Maintains Equal-Weight 08/08/2023 9.67% Mizuho $125 → $122 Maintains