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Skyworks Solutions
(NASDAQ:SWKS)
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Rating:62Neutral
Price Target:
$93.00
▲(38.06% Upside)
Action:Reiterated
Date:09/30/26
The score is driven primarily by pressured fundamentals (steep revenue decline and margin compression) despite a strong, low-leverage balance sheet and still-positive free cash flow. Technicals are supportive with clear uptrend signals, but valuation remains a headwind given the high P/E. M&A progress with Qorvo adds a positive catalyst, tempered by execution and integration considerations.
Positive Factors
Low leverage
The sharp reduction in debt relative to equity leaves Skyworks with a more resilient balance sheet and greater financial flexibility. Lower leverage can support investment, protect liquidity during semiconductor downturns, and provide capacity to manage strategic initiatives without excessive balance-sheet risk.
Negative Factors
Severe revenue contraction
Sustained revenue contraction indicates broad pressure on demand, customer volumes, or product content rather than a brief quarterly fluctuation. A shrinking top line can weaken operating leverage, reduce resources for innovation, and make recovery dependent on a durable improvement in end-market demand.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage
The sharp reduction in debt relative to equity leaves Skyworks with a more resilient balance sheet and greater financial flexibility. Lower leverage can support investment, protect liquidity during semiconductor downturns, and provide capacity to manage strategic initiatives without excessive balance-sheet risk.
Read all positive factors
Skyworks Solutions Key Performance Indicators (KPIs)
Any
Revenue by Geography
Shows the share of sales coming from each region (for example, Asia/China, North America, Europe), revealing where Skyworks earns its revenue and how exposed it is to regional demand swings, trade restrictions, or currency moves. Heavy concentration in China or other mobile-centric markets can amplify cyclical risk tied to smartphones, while rising sales in automotive, industrial, or IoT markets in North America and Europe point to diversification and more stable long-term growth.
Shows the share of sales coming from each region (for example, Asia/China, North America, Europe), revealing where Skyworks earns its revenue and how exposed it is to regional demand swings, trade restrictions, or currency moves. Heavy concentration in China or other mobile-centric markets can amplify cyclical risk tied to smartphones, while rising sales in automotive, industrial, or IoT markets in North America and Europe point to diversification and more stable long-term growth.
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The Fly
The FlySkyworks Solutions (SWKS) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$12.51B
Dividend Yield3.34%
Average Volume (3M)6.81M
Price to Earnings (P/E)43.8
Beta (1Y)1.38
Revenue Growth0.06%
EPS Growth-22.93%
CountryUS
Employees10,000
SectorTechnology
Sector Strength88
IndustrySemiconductors
Share Statistics
EPS (TTM)1.94
Shares Outstanding150,472,780
10 Day Avg. Volume6,461,393
30 Day Avg. Volume6,805,694
Financial Highlights & Ratios
PEG Ratio-1.47
Price to Book (P/B)2.07
Price to Sales (P/S)2.91
P/FCF Ratio10.77
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$68.27Price Target Upside1.35% Upside
Rating ConsensusHold
Number of Analyst Covering15
EPS Forecast (FY)4.96
Revenue Forecast (FY)$4.04B
Skyworks Solutions Business Overview & Revenue Model
Company Description
Skyworks Solutions, Inc., together with its subsidiaries, develops, manufactures, and markets analog and mixed-signal semiconductor products and solutions in the United States, Taiwan, China, South Korea, Europe, the Middle East, Africa, and the A...
How the Company Makes Money
Skyworks makes money primarily by selling semiconductor components and modules to original equipment manufacturers (OEMs) and device makers, either directly or through distributors, for inclusion in end products. Its main revenue stream is product...
Skyworks Solutions Earnings Call Summary
Earnings Call Date:May 05, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Oct 29, 2026
Earnings Call Sentiment Positive
The call communicated a largely positive operational and strategic picture: revenue and EPS beat, strong cash position and dividend, meaningful multigenerational Android design win (> $1B through 2030), robust broad market momentum (nine quarters of growth, +double-digit YoY) and progress on the Qorvo transaction with $500M+ synergies targeted. Offsetting items include near-term input cost pressures, customer concentration (~60% of revenue), seasonal Q3 guidance implying lower EPS (~$1.03 vs $1.15), and regulatory timing risk on the merger. Overall, the positives (beats, large design win, product roadmap, broad-market growth and merger upside) outweigh the manageable near-term headwinds and risks.Positive Updates
Revenue and EPS Beat
Reported revenue of $944 million, approximately $20 million above the high end of guidance; diluted EPS of $1.15, above guidance.
Negative Updates
Input Cost Pressures
Management cited increasing input costs (expedite fees, rising gold prices) as a modest headwind to gross margin and noted selective customer price increases; long-life cost pressures are being managed but present near-term margin risk.
Read all updates
Q2-2026 Updates
Positive
Negative
Revenue and EPS Beat
Reported revenue of $944 million, approximately $20 million above the high end of guidance; diluted EPS of $1.15, above guidance.
Read all positive updates
Company Guidance
For Q3 FY2026 Skyworks guided revenue of $900–$950 million (midpoint $925M), with mobile expected to decline low-single-digits sequentially and broad markets forecast to be roughly 43% of sales—up high-single-digits year‑over‑year and modestly sequentially; gross margin is projected at about 44.5%–45.5% (flat sequentially versus a historical ~70 basis‑point Q2→Q3 dip), operating expenses of $235–245 million, other expense of roughly $4 million, an effective tax rate of 10%, and a diluted share count of ~151 million, which at the midpoint implies diluted EPS of approximately $1.03.Skyworks Solutions Financial Statement Overview
Summary
Income Statement
44
Neutral
Balance Sheet
78
Positive
Cash Flow
60
Neutral
| Breakdown | TTM | Sep 2025 | Sep 2024 | Sep 2023 | Sep 2022 | Sep 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 4.01B | 4.09B | 4.18B | 4.77B | 5.49B | 5.11B |
| Gross Profit | 1.64B | 1.68B | 1.72B | 2.11B | 2.60B | 2.51B |
| EBITDA | 794.30M | 1.02B | 1.12B | 1.76B | 2.21B | 2.05B |
| Net Income | 290.10M | 477.10M | 596.00M | 982.80M | 1.28B | 1.50B |
Balance Sheet | ||||||
| Total Assets | 7.42B | 7.92B | 8.28B | 8.43B | 8.87B | 8.59B |
| Cash, Cash Equivalents and Short-Term Investments | 799.20M | 1.37B | 1.56B | 734.40M | 586.30M | 1.02B |
| Total Debt | 681.10M | 1.20B | 1.20B | 1.51B | 2.41B | 2.41B |
| Total Liabilities | 1.69B | 2.16B | 1.95B | 2.34B | 3.40B | 3.29B |
| Stockholders Equity | 5.74B | 5.76B | 6.34B | 6.08B | 5.47B | 5.30B |
Cash Flow | ||||||
| Free Cash Flow | 196.30M | 1.11B | 1.67B | 1.62B | 914.90M | 1.12B |
| Operating Cash Flow | 478.20M | 1.30B | 1.82B | 1.86B | 1.42B | 1.77B |
| Investing Cash Flow | -169.60M | -234.00M | -355.90M | -224.40M | -378.90M | -3.13B |
| Financing Cash Flow | -936.60M | -1.27B | -819.00M | -1.48B | -1.36B | 1.68B |
Skyworks Solutions Technical Analysis
Neutral
67.36
Price Trends
73.74
Positive
71.62
Positive
65.52
Positive
Market Momentum
4.02
Positive
52.13
Neutral
19.94
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SWKS, the sentiment is Neutral. The current price of 67.36 is below the 20-day moving average (MA) of 84.82, below the 50-day MA of 73.74, and above the 200-day MA of 65.52, indicating a neutral trend. The MACD of 4.02 indicates Positive momentum. The RSI at 52.13 is Neutral, neither overbought nor oversold. The STOCH value of 19.94 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for SWKS.
Skyworks Solutions Risk Analysis
Skyworks Solutions disclosed 32 risk factors in its most recent earnings report. Skyworks Solutions reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Skyworks Solutions Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | $1.64T | 44.06 | 43.91% | 0.73% | 48.69% | 99.97% | |
76 Outperform | $191.24B | 21.06 | 37.33% | 1.96% | 1.87% | -16.70% | |
72 Outperform | $23.04B | 100.50 | 17.09% | ― | 28.36% | ― | |
66 Neutral | $8.35B | -89.02 | -22.37% | ― | 50.50% | 52.01% | |
65 Neutral | $9.90B | 26.25 | 11.39% | ― | -0.18% | 403.74% | |
62 Neutral | $12.51B | 43.83 | 5.04% | 3.34% | 0.06% | -22.93% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% |
* Technology Sector Average
SWKS
Skyworks Solutions
85.03
9.70
12.88%
AVGO
Broadcom
355.14
19.27
5.74%
MTSI
MACOM Technology Solutions Holdings
321.60
194.19
152.41%
MXL
Maxlinear
105.93
89.48
543.95%
QCOM
Qualcomm
184.87
19.14
11.55%
QRVO
Qorvo
114.17
20.69
22.13%
Skyworks Solutions Corporate Events
Business Operations and StrategyM&A TransactionsPrivate Placements and FinancingRegulatory Filings and Compliance
Skyworks Clears Regulators for Merger with Qorvo
Positive
Sep 30, 2026
On September 30, 2026, Skyworks Solutions announced it had obtained all required regulatory clearances to move forward with its previously agreed cash-and-stock merger with Qorvo, a deal first unveiled on October 28, 2025. The companies expect to ...
Business Operations and StrategyM&A TransactionsPrivate Placements and Financing
Skyworks Extends Qorvo Note Exchange Amid Merger Plans
Positive
Sep 2, 2026
On September 1, 2026, Skyworks Solutions extended the expiration date for its offers to exchange Qorvo’s 4.375% Senior Notes due 2029 and 3.375% Senior Notes due 2031 for new Skyworks notes of the same maturities. The exchange deadline was m...
Business Operations and StrategyM&A TransactionsPrivate Placements and Financing
Skyworks Solutions Issues Notes to Support Qorvo Acquisition
Positive
Aug 10, 2026
On August 10, 2026, Skyworks Solutions issued $2.0 billion of senior unsecured notes in three tranches maturing in 2028, 2032 and 2036, with coupon rates ranging from 5.000% to 6.250%. The notes, sold under an August 4, 2026 underwriting agreement...
Business Operations and StrategyFinancial DisclosuresM&A Transactions
Skyworks Advances Strategic Qorvo RF Semiconductor Merger
Positive
Aug 3, 2026
On October 27, 2025, Skyworks Solutions, Inc. agreed a two-step merger transaction to acquire rival RF chipmaker Qorvo, Inc., via Comet Acquisition Corp. and Comet Acquisition II, LLC, both wholly owned Skyworks subsidiaries. Under the structure, ...
Business Operations and StrategyM&A TransactionsRegulatory Filings and Compliance
Skyworks’ Qorvo merger progresses as key approvals advance
Positive
Aug 3, 2026
On October 27, 2025, Skyworks Solutions entered into a merger agreement with fellow RF semiconductor maker Qorvo, structuring the deal as a two-step merger that will ultimately leave Qorvo as a wholly owned subsidiary within Skyworks’ corpor...
Business Operations and StrategyExecutive/Board ChangesM&A TransactionsRegulatory Filings and Compliance
Skyworks, Qorvo unveil leadership team for planned merger
Positive
Jul 28, 2026
On July 28, 2026, Skyworks Solutions and Qorvo, two U.S.-listed semiconductor companies, announced the expected executive leadership team for their planned combined entity, a key step in advancing their previously disclosed merger. Skyworks CEO Ph...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.