Skyworks Solutions, Inc.’s Stock Price Drops to $113.62, Sees 3.46% Decrease: A Red Flag or Buying Opportunity?

Skyworks Solutions, Inc. (SWKS)

113.62 USD -4.07 (-3.46%) Volume: 6.97M

Skyworks Solutions, Inc.’s stock price is currently at 113.62 USD, experiencing a decrease of -3.46% this trading session with a trading volume of 6.97M, yet showing resilience with a year-to-date increase of +1.07%, reflecting the dynamic nature of SWKS’s stock performance.

Latest developments on Skyworks Solutions, Inc.

Skyworks Solutions (SWKS) recently reported their Q3 2024 earnings, matching estimates but experiencing a 4% drop in shares despite in-line earnings and a revenue beat. Analysts have been closely monitoring the company, with recommendations coming in from various sources. Barclays raised price targets for Skyworks and Qorvo ahead of earnings, while JPMorgan raised Skyworks’ price target by $15. Despite a 38% profit slide to $121 million in Q3, Skyworks raised their quarterly dividend by 2.9% to 70 cents a share. The company’s stock price movements today are influenced by these key events and analyst forecasts.

Skyworks Solutions, Inc. on Smartkarma

Analysts at Baptista Research on Smartkarma have provided bullish coverage on Skyworks Solutions Inc., highlighting the company’s continued investment in technology and product roadmaps as major drivers for growth. In a recent earnings update, Skyworks Solutions demonstrated solid financial performance in the second fiscal quarter of 2024, with revenue of $1.046 billion and earnings per share of $1.55. The company also sees significant opportunities in the edge IoT market, with a robust design win pipeline for WiFi 6E and WiFi 7, suggesting a possible multiyear upgrade cycle.

Furthermore, Baptista Research‘s analysis on Smartkarma also emphasizes Skyworks Solutions‘ strategic expansion in mobile and broad markets as fueling growth. Despite challenging macroeconomic conditions, the company delivered strong financial results in Q1 2024, generating $1.202 billion in revenue and posting an earnings per share of $1.97. Skyworks Solutions also achieved a record free cash flow margin of 63%, showcasing effective working capital management and reduced capital expenditure intensity.

A look at Skyworks Solutions, Inc. Smart Scores

Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma

Based on Smartkarma Smart Scores, Skyworks Solutions has a positive long-term outlook. With a high score of 5 for Dividend, investors can expect a stable and potentially growing dividend income from the company. Additionally, the company scores well in Momentum with a score of 4, indicating strong market performance and investor interest. Although the Value and Growth scores are moderate at 3, Skyworks Solutions shows resilience with a score of 3, suggesting the company’s ability to withstand economic challenges.

Skyworks Solutions, Inc. is a wireless semiconductor company that specializes in designing and manufacturing radio frequency and semiconductor system solutions for mobile communications applications. The company offers front-end modules, radio frequency subsystems, and system solutions to wireless handset and infrastructure customers globally. With a solid overall outlook based on Smartkarma Smart Scores, Skyworks Solutions appears to be a promising investment option for those seeking a reliable dividend yield and strong market momentum in the long term.

Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
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