Skyworks Solutions (SWKS) Stock Moves -1.65%: What You Should Know
In the latest trading session, Skyworks Solutions (SWKS) closed at $147.29, marking a -1.65% move from the previous day. This change was narrower than the S&P 500's daily loss of 1.86%. At the same time, the Dow lost 2.3%, and the tech-heavy Nasdaq lost 1.64%.
Heading into today, shares of the chipmaker had gained 10.77% over the past month, outpacing the Computer and Technology sector's gain of 9.23% and the S&P 500's gain of 7.63% in that time.
SWKS will be looking to display strength as it nears its next earnings release, which is expected to be November 2, 2020. The company is expected to report EPS of $1.52, unchanged from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $842.51 million, up 1.83% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for SWKS. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.38% higher within the past month. SWKS is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that SWKS has a Forward P/E ratio of 22.03 right now. This valuation marks a no noticeable deviation compared to its industry's average Forward P/E of 22.03.
We can also see that SWKS currently has a PEG ratio of 1.74. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Semiconductors - Radio Frequency industry currently had an average PEG ratio of 1.65 as of yesterday's close.
The Semiconductors - Radio Frequency industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 80, putting it in the top 32% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow SWKS in the coming trading sessions, be sure to utilize Zacks.com.
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Skyworks Solutions, Inc. (SWKS): Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.