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Skyworks Solutions Inc. (SWKS) is scheduled to report its Q3 2012 results on July 18, 2012, after the bell. The street expects EPS and revenue of $0.44 and $383.00M, respectively.

In this article I will recap the historical results of the company, its latest EPS estimates vs. surprises, the latest news from SWKS and the news from its closest competitors.

Skyworks Solutions Inc. Revenue and Net Income History

Recent EPS Actuals vs. Estimates

The company has met or beaten analysts' estimates in the last four quarters. In the last quarter it reported $0.42 EPS, beating analyst estimates of $0.40.

Skyworks Solutions Inc. EPS Historical Results vs Estimates

The consensus EPS estimate is $0.44 based on 19 analysts' estimates, down from $0.49 a year ago. Revenue estimates are $383.00M, up from $356.08M a year ago. The median target price by analysts for the stock is $31.50.

Average recommendation: Buy

Source: Marketwatch

Analyst Upgrades and Downgrades

  • On June 21, 2012, Canaccord Genuity initiated Buy rating for the company.
  • On May 23, 2012, Oppenheimer reiterated Outperform rating for the company.
  • On March 21, 2012, Barclays reiterated Overweight rating for the company.
  • On March 9, 2012, UBS reiterated Buy rating for the company.
  • On February 23, 2012, Avian initiated Positive rating for the company.
  • On February 20, 2012, Charter Equity upgraded the company from Mkt Perform to Buy.

Latest News

  • On April 26, 2012, Skyworks Solutions, Inc. announced that for third quarter of 2012, it expects revenue of $383 million with $0.44 of non-GAAP diluted earnings per share (EPS).
  • On January 20, 2012, Skyworks Solutions, Inc. announced that for the second quarter of 2012, it expects revenues of $360 million with $0.40 of non-GAAP diluted earnings per share .

Competitors

Broadcom Corp. (BRCM), Cirrus Logic Inc. (CRUS), QUALCOMM Incorporated (QCOM), RF Micro Devices Inc. (RFMD), and TriQuint Semiconductor, Inc. (TQNT) are considered major competitors for Skyworks Solutions and the table below provides the key metrics for these companies and the industry.

Skyworks Solutions Inc. key ratio comparison with direct competitors

The chart below compares the stock price changes as a percentage for the selected companies for the last one year period.

(click to enlarge)SWKS Chart

SWKS data by YCharts

Competitors' Latest Development

  • On July 5, 2012, Broadcom Corporation And Emulex Corporation announced that the companies have entered into a partial settlement and worldwide patent license agreement relating to the patent litigation in the U.S. Federal District Court in Santa Ana, California.
  • On July 3, 2012, Dow Jones reported that MIPS Technologies Inc. has signed a $26.5 million agreement that allows Broadcom Corp. to license its patents. Additionally, Broadcom--a semiconductor technology provider and MIPS' customer--has extended its license of the Company's architecture and core licenses.
  • On June 27, 2012, Broadcom Corporation announced that Wi-Fi Alliance selected Broadcom for its Wi-Fi CERTIFIED Passpoint Test Bed.
  • On June 27, 2012, QUALCOMM Inc. and Akamai Technologies, Inc. announced that the two companies are collaborating on the implementation of new protocol enhancements for mobile devices.
  • On June 18, 2012, QUALCOMM Inc. announced that it has acquired Summit Microelectronics (Summit), a developer and provider of programmable power integrated circuits based in Sunnyvale, CA. All employees of Summit Microelectronics have joined Qualcomm's CDMA Technologies division.
  • On May 24, 2012, Reuters reported that Bharti Airtel Limited agreed to buy a 49% stake in Qualcomm Inc's (QCOM.O) fourth-generation (4G) broadband venture in the country for $165 million.
  • On May 16, 2012, Reuters reported that Bharti Airtel Limited is in advanced talks to buyout the Indian partners of QUALCOMM Inc. in a fourth-generation (4G) broadband venture in the country.
  • On May 15, 2012, Avago Technologies Ltd And TriQuint Semiconductor, Inc. announced that they have agreed to settle all claims between the companies. The two parties have entered into patent cross licenses and have agreed to dismiss all related litigation.
  • On May 1, 2012, Broadcom Corporation announced that for second quarter of 2012, it expects net revenue to be roughly $1.9 billion to $2.0 billion. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $1.9 billion for second quarter of 2012.
  • On May 1, 2012, TriQuint Semiconductor, Inc. announced that it has been selected by the Defense Advanced Research Projects Agency (DARPA) to lead a $12.3 million development program focused on ultra-fast gallium nitride (GaN) switch technology for the Microscale Power Conversion (MPC) program.
  • On April 25, 2012, Cirrus Logic, Inc. announced that for the fourth quarter of 2012, it expects revenue of $110.6 million and for the first quarter of 2013, revenue is expected to range between $96-$106 million.
  • On April 25, 2012, TriQuint Semiconductor, Inc. announced that for the second quarter 2012, it expects revenues will be between $170 million and $185 million and non-GAAP net loss per share to be between $0.10 and $0.15 due to weak revenue and higher litigation costs.
  • On April 23, 2012, Cirrus Logic, Inc. announced the passing Of Chairman Mike Hackworth.
  • On April 23, 2012, Imagination Technologies Group plc announced that it has signed a license agreement with Qualcomm Incorporated, for certain IP from Imagination's Ensigma UCC broadcast, communications and connectivity IP family.
  • On April 18, 2012, QUALCOMM Inc. announced that for the third quarter of 2012, it expects revenues of $4.45-$4.85 billion, non-GAAP diluted earnings per share to be $0.83-$0.89 and GAAP EPS to be $0.67-$0.73. For fiscal 2012, it expects revenues of $18.7-$19.7 billion, non-GAAP diluted earnings per share to be $3.61-$3.76 and GAAP EPS to be $3.41-$3.56. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $4.80 billion, EPS of $0.90 for third quarter of 2012; revenue of $19.4 billion and EPS of $3.77 for fiscal 2012.
  • On April 16, 2012, TriQuint Semiconductor, Inc. announced that it has signed a Cooperative Research and Development Agreement (CRADA) with the U.S. Army Research Laboratory (ARL) to explore and fabricate new high-frequency and mixed signal integrated circuits (ICS) based on TriQuint gallium nitride (GaN) technology.
  • On April 5, 2012, Broadcom Corporation announced it has completed its acquisition of BroadLight, Inc., a leading provider of highly integrated networking and fiber access PON (Passive Optical Network) processors.
  • On April 3, 2012, QUALCOMM Inc. announced a quarterly cash dividend of $0.25 per common share, payable on June 20, 2012, to stockholders of record at the close of business on June 1, 2012.
  • On March 21, 2012, Broadcom Corporation announced it has signed a definitive agreement to acquire BroadLight, Inc., a Delaware corporation with an Israel-based subsidiary.
  • On March 20, 2012, Broadcom Corporation announced that Sumavision, a provider of video delivery solutions is deploying its DOCSIS-based Ethernet over Coax (EOC) cable architecture to Chinese cable operators.
  • On March 6, 2012, QUALCOMM Inc. announced that its Board of Directors has approved a 16% increase in the Company's quarterly cash dividend and, effective immediately, a new $4.0 billion stock repurchase program to replace the prior $3.0 billion stock repurchase program, which had $948 million of repurchase authority remaining, net of put options outstanding.
  • On February 27, 2012, Reuters reported that Qualcomm Inc, Telefonica SA and Mozilla Foundation have established an alliance to initiate competition in the smartphone software market, through the design and creation of a new Internet-based free technology for cheaper smartphones.
  • On February 23, 2012, Qualcomm Life Inc., a wholly owned subsidiary of Qualcomm Inc, and Orange Business Services of France Telecom SA, through its International M2M Center located in Brussels, announced a collaboration in which Qualcomm Life will use Orange Business Services' M2M connectivity services in Europe for its 2net Platform to seamlessly connect health care providers and patients and enable secure remote monitoring for various chronic diseases.
  • On February 17, 2012, Broadcom Corporation announced that it has completed its $3.7 billion acquisition of NetLogic Microsystems, Inc.
  • On February 15, 2012, iSonea Limited announced that it will design and market a home and mobile asthma monitoring platform with telecommunications corporation Qualcomm Life Inc., a wholly owned subsidiary of Qualcomm Inc .
  • On February 8, 2012, TriQuint Semiconductor, Inc. announced that for first quarter of 2012, it expects revenue to be in the range of $210-$220 million. First quarter 2012 non-GAAP net income is expected to be between $0.01 and $0.03 per share .
  • On February 1, 2012, QUALCOMM Inc. announced that for the second quarter of 2012, it expects revenues of $4.6 - $5.0 billion, non-GAAP diluted earnings per share to be $0.91 - $0.97 and GAAP EPS to be $1.20 - $1.26. According to I/B/E/S Estimates, analysts are expecting the Company to report EPS of $0.88 on revenue of $4.5 billion for the second quarter of 2012.
  • On January 31, 2012, Broadcom Corporation announced that its Board of Directors has approved an 11% increase in the quarterly cash dividend to $.10 per share ($.40 per share on an annual basis) payable to holders of the Company's Class A and Class B common stock.
  • On January 31, 2012, Broadcom Corporation announced that for first quarter of 2012, it expects net revenue to be roughly $1.7 billion to $1.8 billion, the midpoint of which is about 2 points better than mix-adjusted seasonality.
  • On January 27, 2012, Cirrus Logic, Inc. announced that for the fourth quarter of 2012, it expects revenues to a range between $108 million and $112 million. According to I/B/E/S Estimates, analysts were expecting the Company to report revenues of $104 million for fourth quarter of 2012.

Technical Overview


The stock has a market capitalization of $4.89B and is currently trading at $25.78 with a 52 week range of $13.72 - $29.09. The stock's year-to-date performance has been 58.94%. It is currently trading above 200SMA, but below 20and 50SMA.

Sources: Yahoo Finance, Google Finance, Marketwatch, Finviz, Reuters.

Source: Earnings Preview: Skyworks Solutions