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Skyworks stock rises following in-line results, weak forecast, $2 billion share buyback plan

1
Wallace Witkowski
·1 min read
Skyworks stock rises following in-line results, weak forecast, $2 billion share buyback plan

Skyworks Solutions Inc. (SWKS) shares rose in the extended session Monday after the chip maker coupled a $2 billion share buyback announcement with its in-line results and weak forecast. Skyworks shares rose as much as 3.5% after hours, following a 2.8% decline to close the regular session at $109.28. “Looking ahead to our second fiscal quarter of 2023, we anticipate revenue to be between $1.125 billion and $1.175 billion with non-GAAP diluted earnings per share of $2.02 at the midpoint of our revenue range,” said Kris Sennesael, chief financial officer of Skyworks, in a statement.

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