Skyworks Solutions (SWKS) Reports Earnings Tomorrow. What To Expect

Radek Strnad /
2023/11/01 3:02 am EDT

Wireless chips maker Skyworks Solutions (NASDAQ: SWKS) will be announcing earnings results tomorrow after market close. Here's what to expect.

Last quarter Skyworks Solutions reported revenues of $1.07 billion, down 13.1% year on year, missing analyst expectations by 0.19%. It was a weaker quarter for the company, with a decline in its gross and operating margin.

Is Skyworks Solutions buy or sell heading into the earnings? Read our full analysis here.

This quarter analysts are expecting Skyworks Solutions's revenue to decline 13.6% year on year to $1.22 billion, a deceleration on the 7.32% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $2.10 per share.

Skyworks Solutions Total Revenue

Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company missed Wall St's revenue estimates twice over the last two years.

Looking at Skyworks Solutions's peers in the analog semiconductors segment, some of them have already reported Q4 earnings results, giving us a hint of what we can expect. Impinj's revenues decreased 4.78% year on year, beating analyst estimates by 0.46%, and Texas Instruments reported revenue decline of 13.5% year on year, missing analyst estimates by 1.22%. Impinj traded up 20.7% on the results, Texas Instruments was down 4.2%.

Read our full analysis of Impinj's results here and Texas Instruments's results here.

Tech stocks have been facing declining investor sentiment since 2022, and while some of the analog semiconductors stocks have fared somewhat better, they have not been spared, with share price declining 8.81% over the last month. Skyworks Solutions is down 11.4% during the same time, and is heading into the earnings with analyst price target of $119.8, compared to share price of $86.

One way to find opportunities in the market is to watch for generational shifts in the economy. Almost every company is slowly finding itself becoming a technology company and facing cybersecurity risks and as a result, the demand for cloud-native cybersecurity is skyrocketing. This company is leading a massive technological shift in the industry and with revenue growth of 70% year on year and best-in-class SaaS metrics it should definitely be on your radar.

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The author has no position in any of the stocks mentioned.