Stock Monitor: Analog Devices Post Earnings Reporting
LONDON, UK / ACCESSWIRE / June 6, 2018 / If you want access to our free earnings report on Skyworks Solutions, Inc. (NASDAQ: SWKS) ("Skyworks"), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=SWKS. The Company reported its financial results on May 03, 2018, for the second quarter of the fiscal year 2018 (Q2 FY18). The innovator of high-performance analogue semiconductors surpassed market estimates for revenues and earnings for Q2 FY18. Additionally, the Company provided its guidance for the third quarter of the fiscal year 2018. Register today and get access to over 1,000 Free Research Reports by joining our site below:
Active-Investors.com is currently working on the research report for Analog Devices, Inc. (NASDAQ: ADI), which also belongs to the Technology sector as the Company Skyworks Solutions. Do not miss out and become a member today for free to access this upcoming report at:
Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Skyworks Solutions most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
Earnings Highlights and Summary
For the second quarter of the fiscal year 2018, Skyworks' revenues improved 7.2% to $913.4 million compared to $851.7 million in the second quarter of 2017, primarily driven by an increase in demand for its components from a key smartphone customer. The Company's revenue numbers exceeded analysts' estimates of $910.4 million.
During Q2 FY18, Skyworks incurred cost of goods sold of $454.7 million versus $426.3 million in Q2 FY17. The Company's gross profit advanced 7.8% to $458.7 million in the reported quarter compared to $425.4 million in the prior year's same period, due to a favorable product mix, lower per-unit materials and manufacturing costs, and higher unit volumes.
Skyworks' total operating expenses increased 17.4% to $169.3 million in Q2 FY18 compared to $144.2 million in Q2 FY17. The Company's total expenses included research and development (R&D) expenses of $106.7 million and selling, general, and administrative expenses (SG&A) of $57.5 million in the reported quarter versus $89.4 million and $47.8 million, respectively, in the comparable period of the prior fiscal year.
Skyworks posted an operating income of $289.4 million in Q2 FY18 compared to $281.2 million in Q1 FY18. The Company's operating margin was 31.7 % in Q2 FY18, declining from 33.0 % in Q2 FY17. The Company's adjusted operating income grew 6% to $331.1 million in the reported quarter compared to $312.5 million in the corresponding quarter of last year.
For the reported quarter, Skyworks' net income soared 22.7% to $276.0 million compared to $224.9 million in the year ago same period. The Company posted an adjusted net income of $302.3 million in Q2 FY18 compared to $272.0 million in Q2 FY17, increasing 11.1% on a y-o-y basis.
Skyworks reported earnings per share (EPS) of $1.50 in Q2 FY18 compared to $1.20 in Q2 FY17, increasing 23% on a y-o-y basis. The Company's adjusted EPS surged 13.1% to $1.64 in the reported quarter versus $1.45 in the year ago comparable period, beating analysts' estimates of $1.60.
As of March 30, 2018, Skyworks' cash and cash equivalents stood at $1.88 billion compared to $1.41 billion as of March 31, 2017. During the second quarter of the fiscal year 2018, the Company generated cash inflows from operating activities of $795.0 million compared to $724.6 million in the second quarter of 2017.
During Q2 FY18, Skyworks repurchased 1.0 million shares of its common stock at a cost of $111.8 million. On May 03, 2018, the Company declared a cash dividend of $0.32 per share of its common stock, payable on June 12, 2018, to stockholders of record as of the close of business on May 22, 2018.
For Q3 FY18, Skyworks expects revenues to be in the range of $875.0 million to $900.0 million. In addition, the Company anticipates non-GAAP diluted EPS to be $1.59 for the third quarter of the fiscal year 2018.
Stock Performance Snapshot
June 05, 2018 - At Tuesday's closing bell, Skyworks Solutions' stock slightly declined 0.84%, ending the trading session at $99.51.
Volume traded for the day: 2.04 million shares.
Stock performance in the last month - up 3.44%; and year-to-date - up 4.80%
After yesterday's close, Skyworks Solutions' market cap was at $18.16 billion.
Price to Earnings (P/E) ratio was at 16.29.
The stock has a dividend yield of 1.29%.
The stock is part of the Technology sector, categorized under the Semiconductor - Integrated Circuits industry. This sector was up 0.4% at the end of the session.
Active-Investors (A-I) 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. A-I 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.
A-I 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 email@example.com. Rohit Tuli, a CFA® charterholder (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 A-I. A-I 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.
A-I, 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. A-I, 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, A-I, 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 A-I 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://active-investors.com/legal-disclaimer/.
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:
Phone number: 73 29 92 6381
Office Address: 6, Jalan Kia Peng, Kuala Lumpur, 50450 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.