Skyworks Solutions (SWKS - Free Report) closed at $98.48 in the latest trading session, marking a +0.18% move from the prior day. This change lagged the S&P 500's 0.37% gain on the day. Meanwhile, the Dow gained 0.42%, and the Nasdaq, a tech-heavy index, added 0.56%.
Heading into today, shares of the chipmaker had gained 17.85% over the past month, outpacing the Computer and Technology sector's gain of 5.93% and the S&P 500's gain of 4.42% in that time.
Investors will be hoping for strength from SWKS as it approaches its next earnings release, which is expected to be November 12, 2019. On that day, SWKS is projected to report earnings of $1.50 per share, which would represent a year-over-year decline of 22.68%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $825.39 million, down 18.15% from the year-ago period.
Any recent changes to analyst estimates for SWKS should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.46% higher. SWKS is currently sporting a Zacks Rank of #2 (Buy).
Investors should also note SWKS's current valuation metrics, including its Forward P/E ratio of 15.91. This represents a discount compared to its industry's average Forward P/E of 17.49.
We can also see that SWKS currently has a PEG ratio of 1.94. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Semiconductors - Radio Frequency was holding an average PEG ratio of 1.98 at yesterday's closing price.
The Semiconductors - Radio Frequency industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 43, putting it in the top 17% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.