Skyworks Solutions (SWKS) Advances While Market Declines: Some Information for Investors
Skyworks Solutions (SWKS) ended the recent trading session at $88.61, demonstrating a +0.05% swing from the preceding day's closing price. The stock's performance was ahead of the S&P 500's daily loss of 1.18%. On the other hand, the Dow registered a loss of 0.76%, and the technology-centric Nasdaq decreased by 1.76%.
Shares of the chipmaker witnessed a loss of 8.03% over the previous month, trailing the performance of the Computer and Technology sector with its loss of 2.96% and the S&P 500's loss of 3.35%.
Investors will be eagerly watching for the performance of Skyworks Solutions in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on November 2, 2023. The company's upcoming EPS is projected at $2.10, signifying a 30.46% drop compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $1.22 billion, indicating a 13.6% decrease compared to the same quarter of the previous year.
Investors should also take note of any recent adjustments to analyst estimates for Skyworks Solutions. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Skyworks Solutions is currently a Zacks Rank #3 (Hold).
In terms of valuation, Skyworks Solutions is presently being traded at a Forward P/E ratio of 9.9. Its industry sports an average Forward P/E of 16.9, so one might conclude that Skyworks Solutions is trading at a discount comparatively.
Meanwhile, SWKS's PEG ratio is currently 0.66. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. SWKS's industry had an average PEG ratio of 1.18 as of yesterday's close.
The Semiconductors - Radio Frequency industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 197, placing it within the bottom 22% of over 250 industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Skyworks Solutions, Inc. (SWKS) : Free Stock Analysis Report
