Wireless chips maker Skyworks Solutions (NASDAQ: SWKS) will be reporting results this Tuesday after the bell. Here’s what you need to know.
Skyworks Solutions met analysts’ revenue expectations last quarter, reporting revenues of $953.2 million, down 8.9% year on year. It was a satisfactory quarter for the company, with a solid beat of analysts’ adjusted operating income estimates but an increase in its inventory levels.
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 grow 3.9% year on year to $940.8 million, a reversal from the 15.5% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.24 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 twice 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’s revenues decreased 4.5% year on year, beating analysts’ expectations by 4.3%, and Universal Display reported revenues up 8.4%, topping estimates by 6.1%. Impinj traded up 26.2% following the results while Universal Display’s stock price was unchanged.
Read our full analysis of Impinj’s results here and Universal Display’s results here.
Investors in the analog semiconductors segment have had fairly steady hands going into earnings, with share prices down 1.5% on average over the last month. Skyworks Solutions is down 8.1% during the same time and is heading into earnings with an average analyst price target of $71.16 (compared to the current share price of $70.02).
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