Yahoo Finance Skyworks Solutions Earnings: What To Look For From SWKS
Wireless chips maker Skyworks Solutions (NASDAQ: SWKS) will be announcing earnings results tomorrow after the bell. Here's what you need to know.
Skyworks Solutions met analysts' revenue expectations last quarter, reporting revenues of $1.05 billion, down 9.3% year on year. It was a weak quarter for the company, with underwhelming revenue guidance for the next quarter and a decline in its operating margin.
Is Skyworks Solutions a buy or sell going into earnings? Read our full analysis here, it's free.
This quarter, analysts are expecting Skyworks Solutions's revenue to decline 15.9% year on year to $900.6 million, a further deceleration from the 13.1% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.21 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Skyworks Solutions has missed Wall Street's revenue estimates four times over the last two years.
Looking at Skyworks Solutions's peers in the analog semiconductors segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Impinj delivered year-on-year revenue growth of 19.2%, beating analysts' expectations by 5.2%, and Texas Instruments reported a revenue decline of 15.6%, in line with consensus estimates. Impinj traded up 4.6% following the results while Texas Instruments's stock price was unchanged.
Read our full analysis of Impinj's results here and Texas Instruments's results here.
Inflation fears have put pressure on growth stocks, and while some of the analog semiconductors stocks have fared somewhat better, they have not been spared, with share prices down 3.7% on average over the last month. Skyworks Solutions is up 6.3% during the same time and is heading into earnings with an average analyst price target of $105.5 (compared to the current share price of $113.05).
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