Skyworks Solutions, Inc.’s stock price plummets to $65.60, marking a staggering 24.67% drop

Skyworks Solutions, Inc. (SWKS)

65.60 USD -21.48 (-24.67%) Volume: 19.85M

Skyworks Solutions, Inc.’s stock price is currently at 65.60 USD, experiencing a significant drop of -24.67% in today’s trading session with a volume of 19.85M trades, reflecting a negative YTD change of -24.94%, making it a focal point for investors tracking tech sector performance.

Latest developments on Skyworks Solutions, Inc.

Today, Skyworks Solutions stock price plummeted as Apple, one of its major customers, turned to a competitor, leading to a significant loss in revenue. This comes amidst a series of challenges faced by Skyworks, including the departure of its CEO and a decline in quarterly revenue. Analysts have slashed their forecasts for the company following these events, with some downgrading Skyworks stock to sell. The company has also faced intense competition in the chip industry, further impacting its stock performance. Despite these setbacks, Skyworks recently announced a new CEO, Philip Brace, to lead the next growth chapter, outlining an EPS target for the upcoming quarter amidst growth opportunities in broad markets.

Skyworks Solutions, Inc. on Smartkarma

Analysts at Baptista Research have been bullish on Skyworks Solutions, highlighting the company’s strong financial performance in recent quarters. In their report titled “Skyworks Solutions: An Insight Into Its Diversification in Broad Markets & Other Major Drivers,” they noted that the company posted revenues of $1.025 billion and earnings per share (EPS) at $1.55 during the fourth fiscal quarter of 2024. Additionally, Skyworks Solutions generated $393 million in free cash flow, showcasing their ability to maintain strong cash generation for future growth.

In another report by Baptista Research titled “Skyworks Solutions: Advancements in Data Centers and Wireless Infrastructure! – Major Drivers,” analysts continued to express optimism about the company’s performance. Skyworks Solutions reported revenues of $906 million and an EPS of $1.21 in the fiscal third quarter of 2024, meeting or exceeding prior guidance. The company’s free cash flow generation also remained robust, totaling $249 million for the quarter and reaching $1.3 billion year-to-date, representing a significant 40% margin.

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

Looking at the Smartkarma Smart Scores for Skyworks Solutions, the company seems to have a positive long-term outlook. With high scores in Dividend and Value, investors may find the company to be a stable and potentially profitable investment. Additionally, Skyworks Solutions scores well in Resilience, indicating its ability to withstand market fluctuations. However, its lower scores in Growth and Momentum suggest that the company may not be experiencing rapid expansion or strong market momentum at the moment.

Skyworks Solutions, Inc. is a wireless semiconductor company that specializes in designing and manufacturing radio frequency and semiconductor solutions for mobile communications. The company offers a range of products to customers globally, including front-end modules and radio frequency subsystems. With solid scores in Dividend and Resilience, Skyworks Solutions may be seen as a reliable option for investors looking for steady returns in the long run.

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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