SWKS - Skyworks Solutions shares set for ninth straight session of gains

2023-12-08 13:24:18 ET

Skyworks Solutions ( NASDAQ: SWKS ) were on track for their ninth consecutive session of gains on Friday, as the stock rose nearly 1.5% to 103.89 in afternoon trade, its highest since Sept.6.

The California-based semiconductor firm, which has a market valuation of over $16 billion, gained about 8% in the preceding eight sessions. It has closed its last session at $102.28 with a gain of nearly 2%.

Overall, the stock has gained nearly 15% so far this year.

November has been a favourable month for the company, with 13 sessions in green and eight sessions in red.

Looking at Seeking Alpha's Quant Rating, SWKS has a Hold rating with a score of 2.90 out of 5. The company received an A for profitability and B- for valuation, while its growth prospects have been graded as F.

Turning to the Wall Street community, 12 analysts gave SWKS a Strong Buy, while two rated it Buy. 15 analysts have given the stock a Hold recommendation. There are two analysts with a Sell and lower rating.

Seeking Alpha analysts see the stock as a Buy, with a score of 3.50.

Last month, the company said it expects its mobile business to demonstrate momentum, while in broad markets it expects to continue to digest excess inventory in select segments, affecting revenue outlook.

“While the company's recent earnings report was lackluster, its strong free cash flow and sound balance sheet provide stability and potential for future growth,” pointed out a recent Seeking Alpha analysis.

More on Skyworks Solutions

• Skyworks: Still Hold, No Near-Term Catalyst Here
• Skyworks Solutions skids even as Wall Street sees 'glimmers of hope'
• Skyworks Solutions Non-GAAP EPS of $2.20 beats by $0.10, revenue of $1.22B in-line

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