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Skyworks Solutions Stock Price Notch $100, More Upside is Ahead

Skyworks Solutions (NASDAQ: SWKS) stock price hit the highest level in the last 18 months. The shares breached physiological $100 mark, up more than 47% year to date. The stock had previously traded around $110 at the beginning of 2018. The share price rally is supported by attractive valuations along with a positive outlook for the next year.

The investors haven’t been focusing on significant revenue and earnings decline in the final quarter of fiscal 2019. Its strategy of delivering compelling 5G solutions to a diverse suite of customers and markets is adding to investor’s confidence.

SWKS Skyworks Solutions, Inc. daily Stock Chart

Fiscal 2019 Remains Tough for Skyworks Solutions   

The company has generated a considerable decline in the fourth quarter and fiscal 2019 financial numbers. Its fourth-quarter revenue of $827 million declined 18% from the same period last year. Fiscal 2019 revenue of $3.3 billion plunged from $3.8 billion in the past year.

It also experienced pressure on margins and earnings. It’s fiscal 2019 operating earnings came in at $853 million, down from $918 billion in the past year.

On the positive side, the company generated robust growth in cash flows. Its operating cash flow of $1.3 billion rose 8% from the year-ago period. The cash flows are offering a complete cover to cash returns. It has returned $932 million to investors in 2019 in the form of buybacks and dividends. In addition, the company achieved several operational milestones.

Image result for skyworks solutions

Our systems-level approach, highlighted by our Sky5® platform, now includes strategic capabilities in BAW, Wi-Fi 6, MIMO and custom diversity receive. Collectively, these solutions are unleashing the true potential of 5G,” said Liam K. Griffin, president, and chief executive officer.

Outlook Support Skyworks Solutions Stock Price    

The company expects to generate growth in Q1 revenue and earnings on a sequential basis. It forecasts Q1 revenue in the range of $870 and $890 million while diluted earnings per share are likely to stand around $1.65 at the midpoint of its revenue range. Overall, prospects for 5G are likely to support Skyworks Solutions’ stock price in the coming days.

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Based in Saudi Arabia, Siraj has a strong understanding of and passion for accounting and finance. He has worked for international clients for many years on several projects related to the stock market, equity research and other business, accounting and finance related projects. Siraj is a published financial analyst on the world's leading websites including SeekingAlpha, TheStreet, MSN, and others.