SKYWORKS SOLUTIONS Reports FY2023 Q3 Earnings Results for June 30 2023
August 15, 2023
☀️Earnings Overview
On August 7 2023, SKYWORKS SOLUTIONS ($NASDAQ:SWKS) reported their earnings results for the third quarter of FY2023, which ended on June 30 2023. Total revenue for the quarter was USD 1071.2 million, a 13.1% drop compared to the same period in the previous year. Net income was recorded at USD 195.8 million, indicative of a year-on-year decrease of 26.7%.
Price History
The stock opened at $110.2 and closed at $110.2, representing an increase of 0.8% from the prior closing price of $109.3. SKYWORKS SOLUTIONS also reported strong cash flow from operations and returned capital to shareholders through dividend payments. This news was well received by investors, which caused the stock’s share price to increase slightly. Looking ahead, SKYWORKS SOLUTIONS is confident that its strategic investments in research and development will result in further growth and increased profitability in the coming quarters. Moving forward, SKYWORKS SOLUTIONS will continue to focus on expanding its product portfolio, investing in new technologies, and leveraging its global reach to maintain its competitive advantage. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Skyworks Solutions. More…
| Total Revenues | Net Income | Net Margin |
| 4.96k | 1.04k | 21.8% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Skyworks Solutions. More…
| Operations | Investing | Financing |
| 1.73k | -293.5 | -1.36k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Skyworks Solutions. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 8.46k | 2.59k | 36.92 |
Key Ratios Snapshot
Some of the financial key ratios for Skyworks Solutions are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 15.4% | 14.3% | 25.6% |
| FCF Margin | ROE | ROA |
| 28.7% | 13.7% | 9.4% |
Analysis
At GoodWhale, we recently conducted an analysis of the wellbeing of SKYWORKS SOLUTIONS, and the results were quite alarming. According to our Risk Rating, SKYWORKS SOLUTIONS is a high risk investment, not only from a financial perspective, but also concerning their business acumen. We detected three risk warnings in their income sheet, balance sheet, and non financial criteria which we believe could be indicators of future problems. If you would like to learn more about our findings and see the evidence for yourself, please register on our website at goodwhale.com. More…
Peers
The company’s products are used in a variety of wireless applications, including cellular phones, Wi-Fi, Bluetooth, global positioning systems (GPS), satellite communications, broadcast television and radio, military and aerospace, and industrial, medical, and consumer electronics. Skyworks is headquartered in Woburn, Massachusetts. The company’s primary competitors are Qorvo Inc, Qualcomm Inc, and Holtek Semiconductor Inc. These companies are all leading providers of RF and microwave semiconductor solutions.
– Qorvo Inc ($NASDAQ:QRVO)
Qorvo Inc is a leading manufacturer of semiconductor products for the mobile communications, defense, and aerospace industries. The company has a market capitalization of $8.93 billion as of 2022 and a return on equity of 14.5%. Qorvo’s products include RF power amplifiers, RF filters, and RF front-end modules. The company’s products are used in a variety of applications, including cellular phones, WiFi, GPS, and satellite communications.
– Qualcomm Inc ($NASDAQ:QCOM)
Qualcomm Inc., a technology company, engages in the design, development, manufacturing, and marketing of digital wireless telecommunications products and services worldwide. The company operates in three segments: Wireless Communications, Computing, and Automotive. It offers integrated circuits and system software based on code division multiple access (CDMA), orthogonal frequency division multiple access (OFDMA), and other technologies for use in voice and data communications, networking, application processing, multimedia, and global positioning system products. The company also develops and supplies integrated circuits and system software based on 2G/3G/4G/5G and other technologies that are designed to enable its original equipment manufacturer customers to provide products for the connected world. In addition, it develops and licenses technology solutions for a range of wired products, including baseband processors, data modem chipsets, power management integrated circuits, and other components that enable connectivity and data capabilities in a range of consumer electronics devices, such as smartphones, laptops, tablets, home entertainment systems, and automobiles.
– Holtek Semiconductor Inc ($TWSE:6202)
Founded in 1953, Holtek Semiconductor Inc is a Taiwanese company that specializes in the design and manufacture of integrated circuits. The company has a market capitalization of 14.88 billion as of 2022 and a return on equity of 27.14%. Holtek’s products are used in a wide range of applications including automotive, industrial, consumer, and communications.
Summary
SKYWORKS SOLUTIONS reported disappointing financials for FY2023 Q3, which ended on June 30 2023. Total revenue dropped 13.1% to USD 1071.2 million and net income declined by 26.7% to USD 195.8 million compared to the same quarter in the previous year. Investors should monitor the company’s performance for the coming quarters and take into account the overall market conditions before making any decisions. Additionally, SKYWORKS SOLUTIONS should consider diversifying its revenue sources, reducing costs and developing new products to drive future growth.
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