Skyworks Q4 revenue slightly beats estimates

Overview

• US RF chipmaker's fiscal Q4 revenue was $1.05 bln, a slight beat versus analyst expectations

• Adjusted EPS for fiscal Q4 was $1.28, beating analyst expectations

• Q4 results reflect Skyworks standalone, with Qorvo merger closing after quarter end

Outlook

• Company expects December-qtr revenue of $1.80 bln to $1.90 bln

• Company sees December-qtr non-GAAP diluted EPS of $1.25 at midpoint of guidance

• Company expects Smartphone revenue to decline in low teens percent sequentially in December-qtr

Result Drivers

• PORTFOLIO EXPANSION - Co said expanded RF front-end platform and broader technology portfolio positioned it for next-generation smartphone and wireless markets

• DIVERSIFIED MARKETS - Co said expanded solutions drove reach across AI, defense, infrastructure and automotive markets

• COST SYNERGIES - Co said it is targeting $500 mln or more of annual cost synergies from Qorvo combination

Company press release:

Key Details

*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 3 "strong buy" or "buy", 19 "hold" and 3 "sell" or "strong sell"

• The average consensus recommendation for the semiconductors peer group is "buy."

• Wall Street's median 12-month price target for Skyworks Solutions, Inc. is $79.00, about 7.2% below its November 2 closing price of $85.17

• The stock recently traded at 17 times the next 12-month earnings vs. a P/E of 13 three months ago

Reuters Recommended Reads

• Nov 2 - Chipmaker Onsemi revises Synaptics deal, Q3 results beat

• Nov 2 - Lattice Semiconductor Q3 revenue more than doubles on AI-driven FPGA demand, AMI acquisition

• Nov 2 - Advanced Energy Q3 revenue beats on record semiconductor and data center computing sales

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)