Skyworks Solutn Stock Price, News & Analysis

Skyworks Solutions, Inc. will hold a conference call on May 8, 2023, at 4:30 p.m. EDT to discuss its Q2 fiscal 2023 results and business outlook. Following the market close, the earnings press release will be available via Business Wire and Skyworks' website. Investors can listen to the call online or via phone using specific conference IDs. Replay will be accessible until May 15, 2023.

Skyworks specializes in high-performance analog and mixed signal semiconductors for various industries, including aerospace, automotive, and consumer electronics. The company operates globally and is a member of the S&P 500 index.

Rochester Electronics has announced its partnership with Skyworks Solutions (NASDAQ: SWKS) to offer a range of both active and end-of-life semiconductors. This collaboration aims to enhance Rochester's market position, supporting various global sectors. Rochester, recognized as a significant player in semiconductor distribution, holds over 15 billion devices and is authorized by over 70 leading manufacturers. Their extensive inventory and manufacturing capabilities are expected to facilitate faster market access for Skyworks’ RF and mixed signal solutions.

Skyworks Solutions (Nasdaq: SWKS) announced the appointment of Maryann Turcke to its board of directors. Turcke, an experienced executive in media and telecommunications, previously served as COO of the NFL and held senior roles at Bell Canada Enterprises. Her leadership in the telecommunications sector is expected to enhance Skyworks' growth in various markets, particularly in the Internet of Things. Liam K. Griffin, CEO of Skyworks, emphasized the strategic advantage Turcke brings as the company continues to innovate and expand its wireless technologies.

Skyworks Solutions reported first fiscal quarter 2023 revenue of $1.329 billion, exceeding estimates. GAAP diluted EPS stood at $1.93, while non-GAAP diluted EPS reached $2.59. The company achieved a record operating cash flow of $773.4 million and returned $265.6 million to stockholders via dividends and share repurchases. Skyworks has partnered with notable companies like AT&T and Cisco, enhancing its portfolio in mobile and IoT solutions. For Q2 2023, projected revenue ranges between $1.125 billion and $1.175 billion, with mid-point non-GAAP EPS of $2.02. A new $2 billion stock repurchase program was also announced.

Skyworks Solutions, Inc. (Nasdaq: SWKS) has authorized a new stock repurchase program of up to $2 billion, effective through February 1, 2025. This program replaces the previous $2 billion repurchase approved on January 26, 2021. The company plans to utilize its working capital, with approximately $993 million in cash and marketable securities as of December 30, 2022. Stock repurchases will be contingent upon market conditions and may be suspended or discontinued at any time.