Advertisement
U.S. markets closed
  • S&P 500

    5,254.35
    +5.86 (+0.11%)
     
  • Dow 30

    39,807.37
    +47.29 (+0.12%)
     
  • Nasdaq

    16,379.46
    -20.06 (-0.12%)
     
  • Russell 2000

    2,124.55
    +10.20 (+0.48%)
     
  • Crude Oil

    83.11
    -0.06 (-0.07%)
     
  • Gold

    2,254.80
    +16.40 (+0.73%)
     
  • Silver

    25.10
    +0.18 (+0.74%)
     
  • EUR/USD

    1.0779
    -0.0014 (-0.13%)
     
  • 10-Yr Bond

    4.2060
    +0.0100 (+0.24%)
     
  • GBP/USD

    1.2620
    -0.0002 (-0.02%)
     
  • USD/JPY

    151.3990
    +0.0270 (+0.02%)
     
  • Bitcoin USD

    70,451.45
    +131.38 (+0.19%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • FTSE 100

    7,952.62
    +20.64 (+0.26%)
     
  • Nikkei 225

    40,369.44
    +201.37 (+0.50%)
     

Earnings Review and Free Research Report: Skyworks’ Quarterly Revenue Jumped 20%; EPS Soared 34.7%

LONDON, UK / ACCESSWIRE / July 26, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on Skyworks Solutions, Inc. (NASDAQ: SWKS), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=SWKS, following the Company's disclosure of its third quarter fiscal 2017 earnings results on July 20, 2017. The chipmaker surpassed top- and bottom-line expectations and also announced a 14% increase in dividend. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:

http://protraderdaily.com/register/

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on SWKS. With the links below you can directly download the report of your stock of interest free of charge at:

http://protraderdaily.com/optin/?symbol=SWKS

Earnings Reviewed

For the three months ended June 30, 2017, Skyworks' revenue was $900.8 million, up 20% compared to revenue of $751.7 million in Q3 FY16. The Company's revenue number exceeded analysts' expectations of $890.1 million.

Skyworks' gross profit was $453.6 million, up compared to gross profit of $378.3 million in Q3 FY16. The Company's operating expenses totaled $148.8 million compared to $139.7 million in the prior year's same quarter.

On a GAAP basis, Skyworks' operating income for Q3 FY17 was $304.8 million compared to $238.6 million in Q3 FY16. On a non-GAAP basis, operating income was $333.1 million for the reported quarter.

Skyworks' reported Q3 FY17 earnings of $246.2 million, or $1.32 per share, compared to net income of $185.0 million, or $0.98 per share, in Q3 FY16. The Woburn, Massachusetts-based Company's earnings, adjusted for stock option expense and pre-tax expenses, totaled $1.57 per share for the reported quarter, up 27% on a y-o-y basis and also came in ahead of Wall Street's forecast for earnings of $1.51 per share.

Liam K. Griffin, President and Chief Executive Officer of Skyworks stated:

"Our outperformance is being driven by global demand for Skyworks' highly integrated and ultra-efficient connectivity engines. As system-level complexity and performance requirements intensify across mobile and Internet of Things ecosystems, we are extending our product reach and capturing more content per platform. Further, we are well positioned to capitalize on the rapidly approaching 5G technology wave – enabling new markets from autonomous vehicles to emerging segments in artificial intelligence, robotics, and virtual reality."

Cash Matters

During Q3 FY17, Skyworks' cash flow from operations was $314 million, reflecting an increase of 123% on a y-o-y basis. The Company's capital expenditures were $113 million in the reported quarter. In Q3 FY17, Skyworks paid dividends worth $52 million, and repurchased 1.3 million shares of common stock for a total of $129 million. The Company ended the reported quarter with a cash balance of $1.4 billion, up nearly 50% on a y-o-y basis.

Skyworks' Board of Directors has declared a cash dividend of $0.32 per share of the Company's common stock, representing a 14% increase from the prior quarterly dividend of $0.28 per share. The dividend is payable on August 29, 2017, to stockholders of record at the close of business on August 08, 2017.

Outlook

For Q4 FY17, Skyworks is forecasting revenue to grow 17% on a y-o-y basis with further gross and operating margin expansion. The Company plans to deliver record financial results with revenue of $980 million and non-GAAP diluted earnings per share of $1.75. At this revenue level, Skyworks expects gross margin expansion to be 51% with operating expenses of $124 million.

Stock Performance

At the closing bell, on Tuesday, July 25, 2017, Skyworks Solutions' stock marginally climbed 0.50%, ending the trading session at $106.39. A total volume of 1.69 million shares have exchanged hands. The Company's stock price skyrocketed 2.30% in the last three months, 15.30% in the past six months, and 63.83% in the previous twelve months. Moreover, the stock soared 42.50% since the start of the year. The stock is trading at a PE ratio of 21.93 and has a dividend yield of 1.05%. The stock currently has a market cap of $19.66 billion.

Pro-Trader Daily:

Pro-Trader Daily (Pro-TD) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. PRO-TD has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles, and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

PRO-TD has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email contact@protraderdaily.com. Rohit Tuli, a CFA® charter holder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by PRO-TD. PRO-TD is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

PRO-TD, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. PRO-TD, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, PRO-TD, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither PRO-TD nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://protraderdaily.com/disclaimer/.

CONTACT

For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

Email: contact@protraderdaily.com

Phone number: (917) 341.4653

Office Address: Mainzer Landstrasse 50 Frankfurt am Main, Germany 60325

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: Pro-Trader Daily

Advertisement