Skyworks Solutions Inc
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Information Technology : Semiconductors & Semiconductor Equipment | Mid Cap Value
Company profile

Skyworks Solutions, Inc. is engaged in designing, manufacturing, and marketing, semiconductor products, including intellectual property. The Company’s analog semiconductors are connecting people, places, and things, across new applications within the aerospace, automotive, broadband, cellular infrastructure, connected home, entertainment, and gaming, industrial, medical, military, smartphone, tablet, and wearable markets. It operates engineering, manufacturing, sales, and service facilities throughout Asia, Europe, and North America. Its system solutions include Sky5, diversity receive (DRx) and multi-input multi-output (MIMO), SkyOne, antenna management, and integrated infrastructure. It offers a range of products, such as Amplifiers, Antenna Tuners, Attenuators, Automotive Tuners and Digital Radios, Circulators/Isolators, Demodulators, Detectors, Digital Power Isolators, Diodes, Directional Couplers, Diversity Receive Modules, Filters, Mixers, Modulators, Receivers, and Switches.

Closing Price
$113.41
Day's Change
3.16 (2.87%)
Bid
--
Ask
--
B/A Size
--
Day's High
113.97
Day's Low
110.99
Volume
(Light)
Volume:
1,520,722

10-day average volume:
2,004,971
1,520,722

Snap shares surge, recouping some of their recent losses

1:17 pm ET June 15, 2022 (MarketWatch)
Print

By James Rogers

Snap has a large user base and the resources to invest in Augmented Reality and Virtual Reality, according to KeyBanc analyst Justin Patterson

Shares of Snap Inc. were outperforming the market on Wednesday, recouping some of the losses that followed the company's recent profit warning.

Snap shares (SNAP) rose 7.4% to $12.79 on Wednesday, outpacing gains in the broader tech sector. The Nasdaq Composite was up 1.8%, while the S&P 500 rose 1.0%. The social-media company closed at $11.91 on Tuesday, 85.7% off the company's 52-week high, according to FactSet data.

Last month Snapchat parent Snap warned that second-quarter revenue and earnings will likely come in below prior estimates, citing a deteriorating economy. The news sent shares of Snap and other tech companies dependent on advertising, such as Alphabet Inc. (GOOGL) and Meta Platforms Inc. (META), tumbling.

However, an ad industry expert recently told MarketWatch that Snap's profit warning should be viewed within context After rapid growth during the pandemic, Snap's projections had been unrealistic, according to Brian Wieser, global president of business intelligence at media agency GroupM.

Snap's ongoing ability to harness key Internet-related trends has also been highlighted as a positive. In a new report entitled "Crypto/Web3: The Next Iteration of Money and the Internet" KeyBanc Capital Markets analyst Justin Patterson notes that Snap, like Google and Facebook, has a large user base and significant resources to invest in Augmented Reality and Virtual Reality experiences. Snap can also provide developers with tools to engage consumers in unique ways, he added.

Snap, which describes itself as a camera company, had 332 million daily active users as of the quarter ending March 31, 2022, an increase of 18% on the prior year's quarter.

See now:Profit warnings kicked into high gear, and there's still no slowdown in sight

Of 38 analysts surveyed by FactSet, 27 have a buy rating on Snap and 10 have a hold rating.

-James Rogers

	

(END) Dow Jones Newswires

June 15, 2022 13:17 ET (17:17 GMT)

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