Wireless chips maker Skyworks Solutions (NASDAQ: SWKS) will be reporting results tomorrow after market hours. Here’s what to expect.

Skyworks Solutions met analysts’ revenue expectations last quarter, reporting revenues of $1.02 billion, down 15.9% year on year. It was a satisfactory quarter for the company, with a significant improvement in its inventory levels.

Is Skyworks Solutions a buy or sell going into earnings? Read our full analysis here, it’s free.

This quarter, analysts are expecting Skyworks Solutions’s revenue to decline 11.3% year on year to $1.07 billion, a further deceleration from the 9.6% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.57 per share.

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Skyworks Solutions has missed Wall Street’s revenue estimates three times over the last two years.

Looking at Skyworks Solutions’s peers in the semiconductors segment, some have already reported their Q4 results, giving us a hint as to what we can expect. Texas Instruments’s revenues decreased 1.7% year on year, beating analysts’ expectations by 3.3%, and NXP Semiconductors reported a revenue decline of 9.1%, in line with consensus estimates. Texas Instruments traded down 7.5% following the results.

Read our full analysis of Texas Instruments’s results here and NXP Semiconductors’s results here.

Valuation multiples for many growth stocks have not yet reverted to their early 2021 highs, but the market has been optimistic as of late due to a soft landing. This is an economic situation where rate hikes successfully quelled inflation but did not send the economy into a recession. Furthermore, recent rate cuts and Donald Trump's triumph in the 2024 Presidential election have been tailwinds for the market, and while some of the semiconductors stocks have shown solid performance, the group has generally underpeformed, with share prices down 4.5% on average over the last month. Skyworks Solutions is down 6.1% during the same time and is heading into earnings with an average analyst price target of $94.87 (compared to the current share price of $85.37).

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