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Morning Stock Review: Skyworks Solutions, Inc.’s (NASDAQ: SWKS)

On Monday, Skyworks Solutions, Inc.’s (NASDAQ: SWKS) shares price traded between $93.07 and $94.30 during the last trading session upbeat with +0.77 percent at $93.81. Over the one year trading period, the stock has a peak price of $117.65 and its down is recorded at $86.13. The company has PEG ratio of 1.14 and price to cash ratio of 11.16.

Skyworks Solutions, Inc. (SWKS) recently stated 3rd fiscal quarter results for the period ended June 29, 2018. Revenue for the 3rd fiscal quarter was $894.3M, exceeding consensus estimates.

On a GAAP basis, operating income for the 3rd fiscal quarter of 2018 was $306.3M with record THIRD QUARTER diluted earnings per share of $1.57. On a non-GAAP basis, operating income was $324.8M with record 3rd QUARTER non-GAAP diluted earnings per share of $1.64, $0.05 better than company guidance.

3rd Fiscal Quarter Business Highlights

  • Expanded Sky5™ suite with 5G antenna tuners
  • Released connected street lighting modules with Philips for smart cities
  • Partnered with Sierra Wireless on LTE CAT-12 data cards for M2M applications
  • Commenced production of access solutions for Cisco’s enterprise systems
  • Enabled telematics at BMW and General Motors
  • Extended reach within Linksys’ new dual-band mesh networks
  • Ramped connectivity engines for Amazon’s voice-enabled 4K Fire TV platforms
  • Raised footprint across Nest thermostats, fire detectors and video doorbells leveraging Bluetooth® Low Energy, Zigbee®, Thread and Wi-Fi® protocols
  • Unveiled networking products supporting AT&T/DIRECTV routers
  • Introduced high-precision GPS functionality improving ride-sharing, mobile payment and fleet management services
  • Deployed massive MIMO base station architectures with a leading European infrastructure provider

4th Fiscal Quarter 2018 Outlook

We provide earnings guidance on a non-GAAP basis because certain information necessary to reconcile such guidance to GAAP is difficult to estimate and dependent on future events outside of our control. Please refer to the attached Discussion Regarding the Use of Non-GAAP Financial Measures in this press release for a further discussion of our use of non-GAAP measures, including quantification of known predictable adjustment items.

“Skyworks is on track to deliver another record year of top and bottom line results,” stated Kris Sennesael, senior vice president and chief financial officer of Skyworks. “Specifically, for the fourth fiscal quarter of 2018, we expect revenue to be up 11 to 13 percent sequentially as design win momentum transitions to volume production. At the $1B midpoint of this revenue range, we anticipate continued margin expansion and 16 percent sequential growth in non-GAAP diluted earnings per share to $1.91. Further, given our confidence in Skyworks’ planned outlook, recently we are announcing a substantial raise to our quarterly dividend.”

Dividend Raise and Payment

Skyworks’ Board of Directors has reported a cash dividend of $0.38 per share of the Company’s ordinary stock, representing a 19 percent raise from the previous quarterly dividend of $0.32 per share. The dividend is payable on August 28, 2018, to stockholders of record at the close of business on August 7, 2018.

During the past three month period the stock dropped -5.26 percent and decreased -9.88 percent in past six month. During the twelve month it lost -9.08 percent and year to date performance of -1.20 percent. SWKS quick ratio for most recent quarter was 5.90 while current ratio for time period was 7.30.

 

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Gary Williams

Written by Gary Williams

Gary Williams:- Technology

I am Gary Williams and I’m passionate about business and finance news with over 9 years in the industry starting as a writer working my way up into senior positions. I am the driving force behind newsstoriesworld.com with a vision to broaden the company’s readership throughout 2015. I am an editor and reporter of “Technology” category.

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