Trading activity is bound to kick up this week as we enter the core of the earnings season, with releases coming from major players in all industries. There will be plenty of opportunities for traders to lock in bets ahead of these results. The technology sector in particular will be in the spotlight over the course of the next few days. Here are four companies for traders to consider ahead of their earnings releases on Wednesday.
The semiconductor manufacturer Skyworks Solutions, Inc. (SWKS) is slated to announce its fiscal Q3 results after the market close on Wednesday. The consensus among analysts is that the company will weigh in with EPS of $0.44 versus $0.49 in the prior-year quarter. Total revenue is expected to rise by 7.6%.
Skyworks is coming off of an impressive Q2 in which its top-line grew by 12.1% when compared to the prior-year quarter. The company has benefited from a robust demand for its handset solutions. Shares of Skyworks Solutions have rallied 65.4% this year.
Also reporting its fiscal Q3 results after the market close on Wednesday is Qualcomm Inc. (QCOM). The integrated circuit maker is expected to post a 17.8% pop in EPS on a 29.1% increase in total revenue. The 50-day moving average for the stock recently broke below its 200-day moving average.
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The telecommunications service company 8x8 Inc (EGHT) is set to announce its fiscal Q1 results on Wednesday afternoon. Analysts are calling for a 33.3% jump in EPS accompanied by a 34.3% gain in total revenue.
The company is coming off of a record Q4 in which revenue from business customers rose 44% on a year-over-year basis. This move was driven in part by a decline in business customer churn from 2.3% to 2.0%. Shares of the company's common stock are up 38.8% so far this year.
One other tech name for traders to keep an eye on in the coming days is F5 Networks, Inc. (FFIV). When the company reports after the close on Wednesday, Wall Street will be looking for a 17.5% advance in quarterly EPS and a 21.3% upswing in total revenue. Earlier this month, traders saw the 50-day moving average for this stock cut below its 200-day moving average.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.