Skyworks’ Forecast Points to an Air Pocket, Not an RF Crisis; Maintain $106 FVE
Skyworks Solutions reported solid fiscal first-quarter earnings and provided investors with a predictably soft second-quarter forecast that was not as bad as what we were fearing, in light of Apple’s iPhone X production cuts and soft wireless chip forecasts provided by peers such as Qorvo and Broadcom. We’re encouraged by Skyworks’ new $1 billion share repurchase plan and the firm’s revised target to pay out 60%-75% of free cash flow to shareholders going forward, up from prior guidance of 40%-5...Skyworks Solutions is a provider of analog semiconductors that connect people, places, and things, spanning a number of applications within the aerospace, automotive, broadband, cellular infrastructure, connected home, industrial, medical, military, smartphone, tablet and wearable markets. The company's product portfolio consists of various solutions, including: amplifiers, antenna tuners, attenuators, circulators/isolators, wireless analog system on chip, direct current (DC)/DC converters, demodulators, detectors, diodes, directional couplers, diversity receive modules, filters, front-end modules, hybrid, light emitting diode drivers, low noise amplifiers, mixers, and modulators.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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