In the fast-evolving semiconductor industry, Micron Technology, Inc. (MU) and Skyworks Solutions, Inc. (SWKS) stand out as prominent players with distinct yet overlapping market footprints. Both companies innovate in memory, storage, and connectivity solutions, catering to diverse sectors from mobile devices to automotive and industrial applications. This comparison aims to help investors navigate their options and identify which company presents the most compelling investment opportunity in 2026.
Table of contents
Companies Overview
I will begin the comparison between Micron Technology, Inc. and Skyworks Solutions, Inc. by providing an overview of these two companies and their main differences.
Micron Technology, Inc. Overview
Micron Technology, Inc. designs, manufactures, and sells memory and storage products globally. Operating through four segments—Compute and Networking, Mobile, Storage, and Embedded—it offers DRAM, NAND, and NOR memory products under brands like Micron and Crucial. Its markets include cloud servers, enterprise, client, graphics, networking, mobile devices, automotive, industrial, and consumer sectors.
Skyworks Solutions, Inc. Overview
Skyworks Solutions, Inc. develops and markets proprietary semiconductor products, including amplifiers, tuners, converters, and filters. Its product range serves aerospace, automotive, broadband, cellular infrastructure, connected home, gaming, industrial, medical, military, smartphone, tablet, and wearable markets. Skyworks sells mainly through direct sales, distributors, and independent representatives across multiple global regions.
Key similarities and differences
Both companies operate in the semiconductor industry and serve diverse technology markets, relying on direct sales and distribution channels. Micron focuses primarily on memory and storage technologies, while Skyworks offers a broader portfolio of analog and mixed-signal semiconductors. Micron’s business segments emphasize memory solutions, whereas Skyworks provides various components for communication and connectivity applications.
Income Statement Comparison
Below is the income statement comparison for Micron Technology, Inc. and Skyworks Solutions, Inc. for the most recent fiscal year available, 2025.
| Metric | Micron Technology, Inc. | Skyworks Solutions, Inc. |
|---|---|---|
| Market Cap | 373B | 8.9B |
| Revenue | 37.4B | 4.1B |
| EBITDA | 18.5B | 1.0B |
| EBIT | 10.1B | 554M |
| Net Income | 8.5B | 477M |
| EPS | 7.65 | 3.09 |
| Fiscal Year | 2025 | 2025 |
Income Statement Interpretations
Micron Technology, Inc.
Micron Technology showed strong growth with revenue rising from $15.5B in 2023 to $37.4B in 2025 and net income rebounding from a -$5.8B loss to $8.5B. Margins improved significantly, with gross margin at 39.8% and net margin at 22.8% in 2025. The latest year marked a robust recovery and margin expansion, reflecting operational efficiency gains.
Skyworks Solutions, Inc.
Skyworks Solutions experienced declining revenue, falling from $5.5B in 2022 to $4.1B in 2025, alongside net income dropping from $1.3B to $477M. Margins contracted, with gross margin at 41.2% but net margin halved to 11.7%. The most recent year saw continued revenue and profit declines, indicating challenges in growth and margin preservation.
Which one has the stronger fundamentals?
Micron Technology demonstrates stronger fundamentals, with consistent revenue and net income growth, expanding margins, and favorable income statement evaluations across all metrics. In contrast, Skyworks shows a downward trend in revenue, profits, and margins, with several unfavorable growth indicators, reflecting weaker income statement performance over the analyzed period.
Financial Ratios Comparison
The table below provides a side-by-side comparison of key financial ratios for Micron Technology, Inc. (MU) and Skyworks Solutions, Inc. (SWKS) based on their most recent fiscal year data.
| Ratios | Micron Technology, Inc. (MU) FY 2025 | Skyworks Solutions, Inc. (SWKS) FY 2025 |
|---|---|---|
| ROE | 15.76% | 8.29% |
| ROIC | 12.12% | 6.35% |
| P/E | 15.94 | 24.95 |
| P/B | 2.51 | 2.07 |
| Current Ratio | 2.52 | 2.33 |
| Quick Ratio | 1.79 | 1.76 |
| D/E (Debt-to-Equity) | 0.28 | 0.21 |
| Debt-to-Assets | 18.45% | 15.20% |
| Interest Coverage | 20.69 | 18.45 |
| Asset Turnover | 0.45 | 0.52 |
| Fixed Asset Turnover | 0.79 | 2.95 |
| Payout Ratio | 6.11% | 90.67% |
| Dividend Yield | 0.38% | 3.63% |
Interpretation of the Ratios
Micron Technology, Inc.
Micron Technology exhibits predominantly favorable financial ratios, including strong net margin at 22.84% and a solid return on equity of 15.76%. However, concerns arise from its unfavorable weighted average cost of capital at 10.52% and weaker asset turnover ratios. The company pays dividends with a low yield of 0.38%, indicating modest shareholder returns and a potentially cautious payout approach.
Skyworks Solutions, Inc.
Skyworks Solutions shows mixed ratio strengths with a favorable net margin of 11.67% and good liquidity metrics, but an unfavorable return on equity at 8.29% and neutral return on invested capital. Its dividend yield is robust at 3.63%, suggesting more attractive income for shareholders, supported by generally stable leverage and coverage ratios.
Which one has the best ratios?
Micron Technology presents a more favorable overall ratio profile with 57.14% favorable metrics versus Skyworks’ 50%. Despite Micron’s higher cost of capital and weaker turnover ratios, its stronger profitability and return measures contrast with Skyworks’ lower returns but better dividend yield. The choice depends on prioritizing profitability strength or income generation.
Strategic Positioning
This section compares the strategic positioning of Micron Technology, Inc. and Skyworks Solutions, Inc. across Market position, Key segments, and Exposure to technological disruption:
Micron Technology, Inc.
- Large market cap of $373B; faces high competition in semiconductors industry.
- Diversified segments: Compute, Mobile, Storage, Embedded; driven by DRAM and NAND memory sales.
- Operates in memory and storage technologies with established product lines; no explicit disruption noted.
Skyworks Solutions, Inc.
- Smaller market cap of $8.9B; competes in diverse semiconductor product markets.
- Focuses on proprietary semiconductor products including amplifiers, tuners, and front-end modules.
- Develops varied semiconductor components; exposure to innovation in aerospace, automotive, and communication sectors.
Micron Technology, Inc. vs Skyworks Solutions, Inc. Positioning
Micron shows a diversified business model with multiple segments including memory and storage, supporting large-scale operations. Skyworks is more concentrated in proprietary semiconductor components, targeting specialized markets but with smaller scale and scope.
Which has the best competitive advantage?
Micron’s MOAT evaluation is slightly favorable with growing ROIC, indicating improving profitability and value creation. Skyworks presents a very unfavorable MOAT with declining ROIC, reflecting value destruction and weaker competitive positioning.
Stock Comparison
The stock price movements over the past year reveal contrasting dynamics between Micron Technology, Inc. and Skyworks Solutions, Inc., characterized by strong bullish momentum for Micron and persistent bearish pressure on Skyworks.
Trend Analysis
Micron Technology, Inc. exhibited a robust bullish trend over the past 12 months with a 287.62% price increase, marked by acceleration and high volatility (std deviation 57.56). The stock reached a high of 345.09 and a low of 64.72.
Skyworks Solutions, Inc. showed a bearish trend over the same period, with a 42.36% price decline and deceleration in trend. Volatility was lower (std deviation 16.33), with a highest price at 116.18 and lowest at 52.78.
Comparing both, Micron delivered the highest market performance with a substantial price increase, while Skyworks experienced a significant decline, indicating divergent investor sentiment and market reception.
Target Prices
Analysts present a mixed but generally optimistic target consensus for these semiconductor companies.
| Company | Target High | Target Low | Consensus |
|---|---|---|---|
| Micron Technology, Inc. | 450 | 190 | 328.22 |
| Skyworks Solutions, Inc. | 140 | 65 | 88.22 |
Micron’s consensus target price at 328.22 is slightly below its current price of 333.35, indicating moderate upside risk. Skyworks’ consensus target at 88.22 is well above its current 59.86, suggesting potential for significant appreciation.
Analyst Opinions Comparison
This section compares analysts’ ratings and grades for Micron Technology, Inc. (MU) and Skyworks Solutions, Inc. (SWKS):
Rating Comparison
MU Rating
- Rating: B, considered Very Favorable overall.
- Discounted Cash Flow Score: 1, classified as Very Unfavorable.
- ROE Score: 4, rated Favorable for profit efficiency from equity.
- ROA Score: 5, rated Very Favorable for asset utilization.
- Debt To Equity Score: 3, rated Moderate indicating balanced financial risk.
- Overall Score: 3, rated Moderate in overall financial standing.
SWKS Rating
- Rating: B+, considered Very Favorable overall.
- Discounted Cash Flow Score: 4, classified as Favorable.
- ROE Score: 3, rated Moderate for profit efficiency from equity.
- ROA Score: 4, rated Favorable for asset utilization.
- Debt To Equity Score: 3, rated Moderate indicating balanced financial risk.
- Overall Score: 3, rated Moderate in overall financial standing.
Which one is the best rated?
Based strictly on the data, SWKS holds a slightly better overall rating with a B+ versus MU’s B. SWKS outperforms MU notably in discounted cash flow and maintains solid scores in ROA and debt metrics, while MU leads in ROE and ROA but lags significantly in discounted cash flow.
Scores Comparison
Here is the comparison of the Altman Z-Score and Piotroski Score for both companies:
MU Scores
- Altman Z-Score: 10.5, indicating a safe zone with very low bankruptcy risk.
- Piotroski Score: 7, categorized as strong financial health.
SWKS Scores
- Altman Z-Score: 4.67, also in the safe zone, showing low bankruptcy risk.
- Piotroski Score: 7, similarly indicating strong financial health.
Which company has the best scores?
Both MU and SWKS have Altman Z-Scores in the safe zone and identical Piotroski Scores of 7. MU has a notably higher Altman Z-Score, suggesting stronger financial stability compared to SWKS based on the data provided.
Grades Comparison
Here is a comparison of the latest available grades and ratings for Micron Technology, Inc. and Skyworks Solutions, Inc.:
Micron Technology, Inc. Grades
The following table summarizes recent analyst grades for Micron Technology, Inc.:
| Grading Company | Action | New Grade | Date |
|---|---|---|---|
| Keybanc | Maintain | Overweight | 2026-01-13 |
| B of A Securities | Maintain | Buy | 2026-01-13 |
| Lynx Global | Maintain | Buy | 2026-01-12 |
| Mizuho | Maintain | Outperform | 2026-01-09 |
| UBS | Maintain | Buy | 2026-01-07 |
| Piper Sandler | Maintain | Overweight | 2026-01-07 |
| Piper Sandler | Maintain | Overweight | 2025-12-18 |
| Barclays | Maintain | Overweight | 2025-12-18 |
| Keybanc | Maintain | Overweight | 2025-12-18 |
| Wolfe Research | Maintain | Outperform | 2025-12-18 |
Micron Technology consistently receives positive grades, predominantly “Buy,” “Overweight,” and “Outperform,” with no recent downgrades.
Skyworks Solutions, Inc. Grades
The following table summarizes recent analyst grades for Skyworks Solutions, Inc.:
| Grading Company | Action | New Grade | Date |
|---|---|---|---|
| Mizuho | Upgrade | Neutral | 2025-11-11 |
| JP Morgan | Maintain | Neutral | 2025-11-05 |
| UBS | Maintain | Neutral | 2025-11-05 |
| Citigroup | Upgrade | Neutral | 2025-10-29 |
| Benchmark | Maintain | Hold | 2025-10-29 |
| Piper Sandler | Upgrade | Overweight | 2025-10-29 |
| Barclays | Upgrade | Equal Weight | 2025-10-29 |
| Keybanc | Upgrade | Overweight | 2025-10-29 |
| UBS | Maintain | Neutral | 2025-10-29 |
| Citigroup | Maintain | Sell | 2025-08-06 |
Skyworks shows a mix of grades, with several upgrades from “Underperform” and “Sell” to “Neutral” and “Overweight,” but also holds and some neutral ratings remain.
Which company has the best grades?
Micron Technology, Inc. holds stronger and more consistent positive grades, mainly “Buy,” “Overweight,” and “Outperform,” compared to Skyworks Solutions, Inc., which shows more mixed and moderate ratings. This suggests a more robust analyst consensus and potentially higher confidence in Micron’s performance outlook.
Strengths and Weaknesses
Below is a comparison of key strengths and weaknesses of Micron Technology, Inc. (MU) and Skyworks Solutions, Inc. (SWKS) based on recent financial and operational data.
| Criterion | Micron Technology, Inc. (MU) | Skyworks Solutions, Inc. (SWKS) |
|---|---|---|
| Diversification | Moderate diversification with strong DRAM/NAND product focus; also segments in CNBU, EBU, MBU, SBU | Less diversified; concentrated in semiconductor components for wireless communications |
| Profitability | Favorable profitability: net margin 22.84%, ROE 15.76%, ROIC 12.12% | Moderate profitability: net margin 11.67%, ROE 8.29% (unfavorable), ROIC 6.35% (neutral) |
| Innovation | Growing ROIC trend (+8.2%) indicates improving operational efficiency and potential innovation | Declining ROIC trend (-67.9%) suggests challenges in maintaining competitive edge |
| Global presence | Strong global presence with products serving multiple markets worldwide | Established global footprint but more niche market focus |
| Market Share | Leading player in memory products (DRAM and NAND segments combined over $37B in 2025 revenue) | Smaller market share; focused on wireless semiconductor markets |
Key takeaways: Micron demonstrates stronger profitability and a positive ROIC trend, signaling improved value creation and operational efficiency, supported by significant revenue from diversified memory products. Skyworks faces declining profitability and ROIC, indicating value erosion and potential risks despite stable market presence. Investors should weigh Micron’s growth trajectory against Skyworks’ current challenges.
Risk Analysis
Below is a comparative table of key risks facing Micron Technology, Inc. (MU) and Skyworks Solutions, Inc. (SWKS) based on the most recent 2025 data:
| Metric | Micron Technology, Inc. (MU) | Skyworks Solutions, Inc. (SWKS) |
|---|---|---|
| Market Risk | High beta (1.503) indicates elevated volatility in semiconductor sector. | Moderate beta (1.297), slightly less volatile exposure. |
| Debt Level | Low debt-to-equity (0.28) and debt-to-assets (18.45%) suggest manageable leverage. | Lower debt-to-equity (0.21) and debt-to-assets (15.2%), financially stable. |
| Regulatory Risk | Moderate; exposure to global trade policies and semiconductor export controls. | Moderate; similar exposure due to international operations in semiconductors. |
| Operational Risk | Unfavorable asset turnover ratios (0.45) hint at efficiency challenges. | Neutral asset turnover (0.52), better operational efficiency. |
| Environmental Risk | Moderate; manufacturing processes may face increasing environmental compliance costs. | Moderate; also subject to environmental regulations in manufacturing. |
| Geopolitical Risk | High; supply chain dependencies in Asia-Pacific could be disrupted by geopolitical tensions. | High; similar exposure with global supply chains and cross-border trade. |
Synthesis: The most impactful and likely risks for both MU and SWKS stem from market volatility and geopolitical tensions affecting global semiconductor supply chains. Micron’s higher beta and weaker asset efficiency add to its operational risk, while both firms face regulatory and environmental compliance pressures. Investors should weigh these risks against favorable financial health indicators.
Which Stock to Choose?
Micron Technology, Inc. (MU) shows a strong income evolution with 48.85% revenue growth in the last year and favorable profitability metrics, including a 22.84% net margin. Financial ratios are mostly favorable, with low debt levels and a strong current ratio. Its rating is very favorable with a B grade, supported by solid ROE and ROA scores.
Skyworks Solutions, Inc. (SWKS) exhibits an unfavorable income evolution marked by negative growth in revenue and net income over the past year and overall period. While it maintains favorable liquidity and low debt, profitability ratios such as ROE are less robust. The company holds a very favorable B+ rating, though with a slightly favorable overall ratios outlook.
Considering ratings and financials, MU might appear more attractive for investors focused on growth and improving profitability, given its favorable income statement and stronger financial ratios. Conversely, SWKS could appeal to those prioritizing stability and moderate risk, with its consistent liquidity and less volatile financial condition despite weaker income trends.
Disclaimer: Investment carries a risk of loss of initial capital. The past performance is not a reliable indicator of future results. Be sure to understand risks before making an investment decision.
Go Further
I encourage you to read the complete analyses of Micron Technology, Inc. and Skyworks Solutions, Inc. to enhance your investment decisions:
