RTTNews | Apr 30, 2021 10:09AM EDT

10:09 Friday, April 30, 2021 (RTTNews.com) - Skyworks Solutions, Inc. (SWKS) shares are sliding on Friday morning trade after reaching a year-to-date high just prior to the second-quarter earnings announcement. The innovator of high-performance analog semiconductors reported growth in second-quarter profit on Thursday, while third-quarter earnings are seen below the consensus range.

Currently, shares are at $180.86, down 8.59 percent from the previous close of $197.86.

The company reported a second-quarter net profit of $325.0 million from $181.1 million last year. On a per-share basis, earnings were $1.95, up from $1.06 percent.

Revenue for the quarter surged 53 percent to $1.17 billion from $766.1 million a year ago.

Looking ahead to the third quarter, the company expects revenue in a range of $.075 billion-$1.125 billion. On an adjusted basis, earnings per share is expected to be $2.13.

On average, 26 analysts polled by Thomson Reuters expected the company to earn $2.1 per share for the third quarter in a range of $1.89-$2.31 per share, on revenue of $1.07 billion in a range of $970 million - $1.12 billion.

Skyworks' board of directors has declared a cash dividend of $0.50 per share of the Company's common stock, payable on June 8, 2021, to stockholders of record at the close of business on May 18, 2021.

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