Skyworks tumbles as sluggish smartphone market weighs on forecast
- On Tuesday, Skyworks Solutions forecast first-quarter revenue of $1.85 billion, missing Wall Street's $1.99 billion estimate amid persistent smartphone market weakness. Shares fell 5% in extended trading.
- The company reported its first combined results following the October 5 merger with Qorvo, facing pressure from approximately 60% exposure to smartphones where Android demand remains soft.
- For the fiscal fourth quarter, Skyworks reported standalone revenue of $1.05 billion with adjusted earnings per share of $1.28, exceeding the midpoint of guidance despite seasonal headwinds.
- Goldman Sachs reinstated coverage on November 4 with a Sell rating and $78 target, citing 60% smartphone exposure; Skyworks inventory days reached 157, exceeding its five-year average.
- CEO Phil Brace targets $500 million in annual cost synergies while positioning diversified growth markets—data center, defense, and automotive—to exceed 40% of future sales.
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13 Articles
Skyworks Is Still Up 31% This Year: Is SWKS Stock Topping Out and Breaking Down?
A rally that carried Skyworks Solutions (NASDAQ:SWKS) well ahead of its smartphone chip peers this year is facing its first real test since the company closed its Qorvo combination. Skyworks shares recently changed hands at $81.19, down 5%. Even so, the stock is still up 31% year to date (YTD). Skyworks shares dropped to $72.86 […]
News & Record
Winston-Salem JournalSkyworks Solutions profit drops 83% in final quarter report before Qorvo acquisition
“Today marks a new chapter for Skyworks,” Skyworks chief executive and president Phil Brace said in a statement. “Combining with Qorvo gives us the scale and the technology breadth to lead the next era of wireless, as AI moves from…
What Skyworks Solutions (SWKS) Said on Its Q4 Earnings Call
Skyworks Solutions (NASDAQ:SWKS) reported fourth-quarter fiscal 2026 results as a standalone company and outlined its first outlook as a combined business following the October 5 closing of its acquisition of Qorvo. Chief Executive Officer and President Phil Brace said the combination brings greate
Channel News Asia
Skyworks tumbles as sluggish smartphone market weighs on forecast
Nov 3 : Skyworks Solutions forecast first-quarter revenue and profit below Wall Street expectations on Tuesday, signaling persistent weakness in its core smartphone business.Shares of the chipmaker slumped more than 14 per cent in extended trading.Here are some details:• The company forecast f
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