Skyworks Solutions (NASDAQ:SWKS) Releases Earnings Results, Beats Expectations By $0.01 EPS

Skyworks Solutions (NASDAQ:SWKS) announced its quarterly earnings results on Tuesday. The semiconductor manufacturer reported $1.28 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 10.74% and a net margin of 7.23%.

Skyworks Solutions Stock Up 0.3%

Shares of SWKS traded up $0.23 during midday trading on Tuesday, reaching $85.40. 4,893,037 shares of the company were exchanged, compared to its average volume of 5,112,989. The stock has a 50-day moving average price of $80.84 and a 200-day moving average price of $67.68. The company has a market cap of $12.85 billion, a price-to-earnings ratio of 44.25, a P/E/G ratio of 2.38 and a beta of 1.48. The company has a current ratio of 3.10, a quick ratio of 1.94 and a debt-to-equity ratio of 0.09. Skyworks Solutions has a 1-year low of $51.93 and a 1-year high of $92.80.

Analyst Ratings Changes

SWKS has been the subject of several recent research reports. Morgan Stanley lifted their target price on shares of Skyworks Solutions from $72.00 to $95.00 and gave the company an “equal weight” rating in a report on Monday. William Blair reiterated a “buy” rating on shares of Skyworks Solutions in a report on Wednesday, July 29th. UBS Group increased their price objective on Skyworks Solutions from $70.00 to $90.00 and gave the company a “neutral” rating in a research note on Thursday, October 29th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Skyworks Solutions in a report on Wednesday, October 28th. Finally, BMO Capital Markets initiated coverage on shares of Skyworks Solutions in a report on Friday, August 21st. They issued a “market perform” rating and a $70.00 target price for the company. Four investment analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Skyworks Solutions presently has a consensus rating of “Hold” and an average price target of $79.00.

About Skyworks Solutions

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.