Wireless chips maker Skyworks Solutions (NASDAQ: SWKS) will be announcing earnings results this Tuesday after market close. Here’s what you need to know.
Skyworks Solutions beat analysts’ revenue expectations last quarter, reporting revenues of $1.04 billion, down 3.1% year on year. It was an exceptional quarter for the company, with a beat of analysts’ EPS estimates and an impressive beat of analysts’ adjusted operating income estimates.
Is Skyworks Solutions a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Skyworks Solutions’s revenue to decline 5.3% year on year, improving from the 8.9% decrease it recorded in the same quarter last year.
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 rarely misses Wall Street’s revenue estimates.
Looking at Skyworks Solutions’s peers in the analog semiconductors segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Texas Instruments delivered year-on-year revenue growth of 18.6%, beating analysts’ expectations by 6.6%, and Magnachip reported revenues up 3.3%, in line with consensus estimates. Texas Instruments traded up 19.4% following the results while Magnachip was down 31.8%.
Read our full analysis of Texas Instruments’s results here and Magnachip’s results here.
There has been positive sentiment among investors in the analog semiconductors segment, with share prices up 34.9% on average over the last month. Skyworks Solutions is up 23.6% during the same time and is heading into earnings with an average analyst price target of $67.21 (compared to the current share price of $69.18).
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