Skyworks Solutions Q1 Results: Revenue Up 11.4%, Broad Markets Drive Growth, and Buybacks Support Investment Narrative.

Skyworks Solutions reported Q1 2023 revenue of $1,035.4 million and net income of $79.2 million, beating guidance and confirming a $0.71 per-share dividend. The company also completed a $837.68 million share repurchase program and highlighted strength in Broad Markets areas such as Wi-Fi 7 and edge IoT. The shares have risen 11.4% but are still undervalued by 9%, according to fair value estimates from the Simply Wall St Community.