Skyworks Solutions is a leading provider of semiconductor products, specializing in the design and manufacture of innovative analog and mixed-signal devices
The company primarily serves the wireless communication market, offering a diverse range of products such as amplifiers, filters, and integrated circuits that enable connectivity in smartphones, tablets, and various other consumer electronics. With a focus on high-performance solutions, Skyworks plays a crucial role in advancing the capabilities of mobile technology and the Internet of Things (IoT), catering to the growing demand for efficient, reliable wireless communication systems.
Activist investor Starboard Value LP has reportedly acquired a 7.7% stake worth approximately $500 million in Qorvo Inc. on Thursday, targeting the struggling semiconductor manufacturer for potential operational changes.
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Quarterly earnings results are a good time to check in on a company’s progress, especially compared to its peers in the same sector. Today we are looking at Skyworks Solutions (NASDAQSWKS) and the best and worst performers in the analog semiconductors industry.
Wireless chips maker Skyworks Solutions (NASDAQSWKS) met Wall Street’s revenue expectations in Q3 CY2024, but sales fell 15.9% year on year to $1.02 billion. Next quarter’s revenue guidance of $1.07 billion was less impressive, coming in 2.8% below analysts’ estimates. Its non-GAAP profit of $1.55 per share was 1.9% above analysts’ consensus estimates.
The S&P 500 couldn’t keep its winning streak intact today, dipping just -17 points or -0.29% on the day. The Nasdaq slipped an identical -17 points, which was down -0.09% for the session.
October inflation data meets expectations with a slight uptick in annual rate, core inflation steady at 3.3%. Fed may cut rates in Dec. Market reacts positively.
