In the latest trading session, Skyworks Solutions (SWKS) closed at $126.41, marking a -1.51% move from the previous day. This move was narrower than the S&P 500's daily loss of 2.59%. Elsewhere, the Dow lost 2.72%, while the tech-heavy Nasdaq lost 2.19%.
Wall Street will be looking for positivity from SWKS as it approaches its next earnings report date. The company is expected to report EPS of $1.13, down 16.3% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $690.06 million, down 10.03% from the prior-year quarter.
SWKS's full-year Zacks Consensus Estimates are calling for earnings of $5.55 per share and revenue of $3.13 billion. These results would represent year-over-year changes of -10.05% and -7.18%, respectively.
Any recent changes to analyst estimates for SWKS should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. SWKS is holding a Zacks Rank of #4 (Sell) right now.
Digging into valuation, SWKS currently has a Forward P/E ratio of 23.12. For comparison, its industry has an average Forward P/E of 23.12, which means SWKS is trading at a no noticeable deviation to the group.
Investors should also note that SWKS has a PEG ratio of 1.85 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Semiconductors - Radio Frequency industry currently had an average PEG ratio of 1.9 as of yesterday's close.
The Semiconductors - Radio Frequency industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 230, which puts it in the bottom 10% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Skyworks Solutions, Inc. (SWKS) : Free Stock Analysis Report
To read this article on Zacks.com click here.