Skyworks Solutions (SWKS) Stock Pops in After-Hours Trading

Skyworks Solutions (SWKS) stock is jumping in after-hours trading following the semiconductor company's fourth quarter fiscal 2015 earnings results.
By U-Jin Lee ,

NEW YORK (TheStreet) -- Skyworks Solutions (SWKS) - Get Report stock is jumping 4.13% to $83.49 in after-hours trading on Thursday following the Woburn, MA-based semiconductor company's fourth quarter fiscal 2015 earnings results reported today after the closing bell. Profits met expectations while revenue beat.  

The company's profits for the latest quarter were $1.52 a share on revenue of $880.8 million.

Analysts had predicted the company to earn $1.52 a share on revenue of $877.74 million. 

In the same period last year, the company earned $1.12 a share on revenue of $718.2 million. 

Financial performance for the latest quarter was helped by extending momentum in the connected home and unveiling SkyOne and diversity receive modules in ZTE's Axon smartphone, the company said. 

Looking ahead, the company expects 2016 first quarter sales to be between the range of $925 million to $930 million and earnings to be $1.60. 

"Skyworks is playing a pivotal role in enabling major technology advancements within mobile connectivity, streaming media services, and the Internet of Things," CEO David J. Aldrich stated. 

Additionally, the company's board of directors declared a cash dividend of $0.26 a share of its common stock, payable on December 10, 2015 to stockholders of record at the close of business on November 19.

Separately, TheStreet Ratings team rates SKYWORKS SOLUTIONS INC as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:

We rate SKYWORKS SOLUTIONS INC (SWKS) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, expanding profit margins and good cash flow from operations. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook.

You can view the full analysis from the report here: SWKS

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