Skyworks (SWKS) Stock Climbs Ahead of Tomorrow's Q3 Results
NEW YORK (TheStreet) -- Shares of Skyworks Solutions (SWKS) - Get Report are gaining 1.98% to $69.68 in late-afternoon trading despite analysts' projections that the Woburn, MA-based company will report a year-over decline in third-quarter earnings and revenue after tomorrow's market close.
Analysts surveyed by Thomson Reuters are looking for adjusted earnings of $1.21 per share on $750.2 million in revenues for the most recent period.
Last year the chip maker reported adjusted earnings of $1.34 per share on $810 million in revenues for the 2015 third quarter.
Pacific Crest maintained a "sector weight" rating on the stock ahead of the results, writing that radio frequency (RF) content gains in the iPhone 7 will likely be tempered by a more muted iPhone 7 ramp and an inventory correction at Huawei.
The firm is anticipating in-line third-quarter results but lowered fourth-quarter guidance amid "greater risk" to 2017 first quarter estimates.
Separately, TheStreet Ratings team rates the stock as a "buy" with a ratings score of B.
Skyworks Solutions' strengths such as its impressive record of earnings per share growth, compelling growth in net income, revenue growth, largely solid financial position with reasonable debt levels by most measures and notable return on equity. We feel its strengths outweigh the fact that the company shows weak operating cash flow.
You can view the full analysis from the report here: SWKS
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.