Skyworks Solutions (SWKS) Is Plunging By 8% In Open Market: What Should You Do To Gain From This Stock?

During after-hours trading, SWKS stock declined 5.6% to 186.65. It had gained 2.4% in the regular session. Skyworks late Thursday reported third-quarter earnings that topped Wall Street expectations, but its shares fell after hours. For the current quarter, the company forecast adjusted earnings of $2.15 a share to $2.53 a share. It expected revenue of about $1.27 billion to $1.33 billion.
For the third fiscal quarter of 2021, revenue was up 52% year over year. Operating income was up 52% year over year and exceeded consensus estimates. Skyworks’ third quarter 2021 results were strong, with revenue and earnings per share both increasing year-over-year. The rapid emergence of 5G across various end markets is accelerating the adoption of this new technology. With Skyworks’ long-term relationships and expertise in this field, we are well-equipped to address the diverse needs of the marketplace.

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With continued robust demand for mobile connectivity solutions, Skyworks (SWK) is expecting another strong year-on-year growth in its September quarter. For the fourth fiscal quarter of 2021, Skyworks expects revenue to be in the range of $1.270 billion to $1.330 billion, with non-GAAP diluted earnings per share of $2.53.

Richard McEntire

Finance and Entertainment ReporterRichard is a bottle of wine - the older the sweeter. He has already found the sweetest hobby in writing entertainment and finance news for Own Snap. Readers get the updated posts regularly from him searching for real-time news.

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