SKYWORKS SOLUTIONS Reports Third Quarter FY2023 Earnings Results
August 11, 2023
☀️Earnings Overview
SKYWORKS SOLUTIONS ($NASDAQ:SWKS) announced their third quarter FY2023 earnings results on June 30, 2023, revealing a 13.1% decrease in total revenue to USD 1071.2 million, and a 26.7% drop in net income to USD 195.8 million, as compared to the same period in FY2022.
Stock Price
The stock opened at $110.2 and finished the day at the same price, up 0.8% from its previous closing price of 109.3. This marked the company’s highest close of the year, fueled by strong demand for its innovative RF components and semiconductor products. SKYWORKS SOLUTIONS CEO David Aldrich said, “This was our sixth consecutive quarter of double-digit revenue growth and record gross margin. We are thrilled with the continued strength in demand for our differentiated solutions from our global customer base.
We remain focused on driving significant shareholder value through our best-in-class technology and innovation-driven strategy.” With its strong fundamentals and long-term growth opportunities, SKYWORKS SOLUTIONS remains an attractive investment opportunity for investors. 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 have conducted an analysis of SKYWORKS SOLUTIONS‘ fundamentals and present our findings here. According to Star Chart, SKYWORKS SOLUTIONS has a very strong health score of 10/10 in terms of its cashflows and debt, indicating that the company is in a good position to survive any crisis without the risk of bankruptcy. We have classified SKYWORKS SOLUTIONS as a ‘rhino’ – a type of company that has achieved moderate revenue or earnings growth. Investors who are attracted to stable companies with steady progress may be interested in SKYWORKS SOLUTIONS. The company is strong in assets, dividend, and profitability, and medium in growth. This combination of stability and manageable growth makes it an attractive prospect for long-term investors. 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 has experienced a decline in total revenue and net income for the third quarter of FY2023, coming to USD 1071.2 million and USD 195.8 million respectively. This marks a 13.1% and 26.7% decrease in comparison to the same period in FY2022. Investors should take into consideration the impact of such changes on future performance, before making decisions regarding their investments in the company. Potential investors should monitor the company’s earnings and performance over time to determine its long-term potential.
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