Latest news with #KrisSennesael
Yahoo
14-05-2025
- Business
- Yahoo
Western Digital announces $2B share repurchase program
Western Digital (WDC) announced that its board of directors has authorized a new $2B share repurchase program. The repurchase authorization is effective immediately. Share repurchases may be made on the open market or in privately negotiated transactions and may be made pursuant to a Rule 10b5-1 plan. Quickly and easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks straight to you inbox with TipRanks' Smart Value Newsletter Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See the top stocks recommended by analysts >> Read More on WDC: Disclaimer & DisclosureReport an Issue Western Digital Appoints Kris Sennesael as New CFO Western Digital names Kris Sennesael as CFO Western Digital price target lowered to $65 from $88 at Argus Western Digital price target set at $60 Loop Capital Western Digital put volume heavy and directionally bearish
Yahoo
07-05-2025
- Business
- Yahoo
Skyworks forecasts upbeat third-quarter results; appoints new CFO
(Reuters) -Apple supplier Skyworks Solutions on Wednesday forecast third-quarter revenue and profit above Wall Street estimates, signaling resilient demand for its analog chips despite ongoing trade tensions. Separately, the company announced that Mark Dentinger will take over as chief financial officer, effective June 2, succeeding Kris Sennesael, who will step down effective Friday, to pursue another opportunity. Dentinger was earlier the CFO at data management firm Veritas. Shares of the California-based company were up 2.7% in extended trading. "We remain encouraged by ongoing momentum in our broad markets that is on track for another quarter of sequential growth and improving year-over-year trends," the company said. It added that the mobile business is expected to decline in the low single digits sequentially. Skyworks forecast third-quarter revenue to be between $920 million and $960 million, with the mid-point higher than analysts' estimate of $922 million, according to data compiled by LSEG. It also forecast an adjusted profit of $1.24 per share for the June quarter, above analysts' average estimate of $1.06 per share. Skyworks, which competes with chip firms such as NXP Semiconductors, Qorvo and Texas Instruments, designs and manufactures analog and mixed-signal chips used in wireless communication, automotive, industrial and consumer electronics. Skyworks' revenue in the second quarter was $953 billion, beating analysts' estimates of $951.5 million. It reported adjusted profit per share of $1.24, exceeding estimates of $1.20. (Reporting by Priyanka.G in Bengaluru; Editing by Leroy Leo)
Reuters
07-05-2025
- Business
- Reuters
Skyworks forecasts upbeat third-quarter results; appoints new CFO
May 7 (Reuters) - Apple supplier Skyworks Solutions (SWKS.O), opens new tab on Wednesday forecast third-quarter revenue and profit above Wall Street estimates, signaling resilient demand for its analog chips despite ongoing trade tensions. Separately, the company announced that Mark Dentinger will take over as chief financial officer, effective June 2, succeeding Kris Sennesael, who will step down effective Friday, to pursue another opportunity. Dentinger was earlier the CFO at data management firm Veritas. Shares of the California-based company were up 2.7% in extended trading. "We remain encouraged by ongoing momentum in our broad markets that is on track for another quarter of sequential growth and improving year-over-year trends," the company said. It added that the mobile business is expected to decline in the low single digits sequentially. Skyworks forecast third-quarter revenue to be between $920 million and $960 million, with the mid-point higher than analysts' estimate of $922 million, according to data compiled by LSEG. It also forecast an adjusted profit of $1.24 per share for the June quarter, above analysts' average estimate of $1.06 per share. Skyworks, which competes with chip firms such as NXP Semiconductors (NXPI.O), opens new tab, Qorvo (QRVO.O), opens new tab and Texas Instruments (TXN.O), opens new tab, designs and manufactures analog and mixed-signal chips used in wireless communication, automotive, industrial and consumer electronics. Skyworks' revenue in the second quarter was $953 billion, beating analysts' estimates of $951.5 million. It reported adjusted profit per share of $1.24, exceeding estimates of $1.20.
Business Wire
07-05-2025
- Business
- Business Wire
Western Digital Names Finance Executive Kris Sennesael as Chief Financial Officer
SAN JOSE, Calif.--(BUSINESS WIRE)--Western Digital (Nasdaq: WDC) announced today that it has hired Kris Sennesael as Chief Financial Officer (CFO) effective May 12, 2025. With more than 25 years of experience in finance and general management across the semiconductor and technology industries, Sennesael most recently served as CFO at Skyworks Solutions. 'I am excited for Kris to join Western Digital. His tenure of being a hands-on leader and experience across all global markets will further strengthen our position moving forward,' said Irving Tan, Western Digital's Chief Executive Officer. 'I'm looking forward to his expertise and leadership as we build the future of Western Digital together, balancing investment for innovation and growth with operational efficiency to create sustainable, long-term shareholder value.' Sennesael will report directly to Tan and will lead Western Digital's global finance organization including finance, accounting, financial reporting, tax, treasury, internal audit, corporate real estate, and investor relations. In his prior role with Skyworks Solutions, Sennesael collaborated extensively with the Board of Directors, CEO, and the executive team to steer strategic initiatives aimed at creating shareholder value, and contributed to scaling the business through both organic and inorganic growth strategies. Prior to this role, he held the CFO position at both Enphase Energy and Standard Microsystems, and held leadership roles at ON Semiconductor, AMI Semiconductor, and Alcatel Microelectronics. About Western Digital Western Digital empowers the systems and people who rely on data. Consistently delivering massive capacity, high quality and low TCO, Western Digital is trusted by hyperscale cloud providers, enterprise data centers, content professionals and consumers around the world. Core to its values, the company recognizes the urgency to combat climate change and is on a mission to design storage technologies that not only meet today's data demands but also contribute to a more climate-conscious future. Follow Western Digital on LinkedIn and learn more at Forward-Looking Statements This press release contains forward-looking statements within the meaning of federal securities laws, including statements regarding expectations for: the company's future position and creation of shareholder value. These forward-looking statements are based on management's current expectations and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements. Key risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements include: adverse global or regional conditions, including new or additional tariffs or trade restrictions; volatility in demand for the company's products; inflation; increases in interest rates and an economic recession; future responses to and effects of global health crises; the impact of business and market conditions; the outcome and impact of the company's completed separation of the HDD and Flash businesses, including with respect to stock price volatility and the diversion of management's attention from ongoing business operations and opportunities; the impact of competitive products and pricing; the company's development and introduction of products based on new technologies and expansion into new data storage markets; risks associated with cost saving initiatives, restructurings, acquisitions, divestitures, mergers, joint ventures and the company's strategic relationships; difficulties or delays in manufacturing or other supply chain disruptions; hiring and retention of key employees; the company's level of debt and other financial obligations; changes to the company's relationships with key customers; compromise, damage or interruption from cybersecurity incidents or other data system security risks; actions by competitors; any decisions to reduce or discontinue paying cash dividends; the company's ability to achieve its greenhouse gas emissions reduction and other sustainability goals; the impact of international conflicts; risks associated with compliance with changing legal and regulatory requirements and the outcome of legal proceedings; and other risks and uncertainties listed in the company's filings with the Securities and Exchange Commission (the 'SEC'), including the company's Annual Report on Form 10-K filed with the SEC on August 20, 2024 and Quarterly Report on Form 10-Q filed with the SEC on May 2, 2025, to which your attention is directed. You should not place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to update or revise these forward-looking statements to reflect new information or events, except as required by law. © 2025 Western Digital Corporation or its affiliates. All rights reserved. Western Digital, the Western Digital design, and the Western Digital logo are registered trademarks or trademarks of Western Digital Corporation or its affiliates in the US and/or other countries. All other marks are the property of their respective owners.
Globe and Mail
29-03-2025
- Business
- Globe and Mail
SWKS SHAREHOLDER ACTION ALERT: Kaplan Fox Reminds Investors of a Class Action Lawsuit Against Skyworks Solutions, Inc. (SWKS) and Lead Plaintiff Deadline on May 5, 2025
NEW YORK - March 29, 2025 (NEWMEDIAWIRE) - Kaplan Fox & Kilsheimer LLP announces that a class action lawsuit has been filed against Skyworks Solutions, Inc. ('Skyworks' or the 'Company') (NASDAQ: SWKS) on behalf of investors that purchased or otherwise acquired Skyworks securities between July 30, 2024 and February 5, 2025 (the 'Class Period'). If you are an investor in Skyworks and have suffered losses, you may CLICK HERE to contact us. You may also contact Kaplan Fox by emailing pmayer@ or by calling (646) 315-9003. DEADLINE REMINDER: If you are a member of the proposed Class, you may move the court no later than May 5, 2025 to serve as a lead plaintiff for the purported class. If you have losses we encourage you to contact us to learn more about the lead plaintiff process. You need not seek to become a lead plaintiff in order to share in any possible recovery. The complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (i) Skyworks' long-standing relationship with Apple, its largest customer, did not guarantee that Apple would maintain its business relationship with Skyworks for its anticipated iPhone launch; and (ii) Skyworks oversold the company's position and ability to capitalize on AI in the smartphone upgrade cycle. On February 5, 2025, after market close, Skyworks announced its first quarter 2025 results. According to the complaint, Skyworks provided lower-than-anticipated revenue guidance and attributed its results and low guidance to a 'competitive landscape' that had 'intensified' in recent years. During the conference call to discuss its results, CFO Kris Sennesael stated as follows with respect to Skyworks' 'strategic partnership with [its] largest customer': '[T]he last couple of years have been challenging as the competitive landscape has intensified. As it relates to the upcoming phone cycle, expected to be launched in the fall of 2025, the Skyworks' team developed a suite of high-performance RF solutions. Despite our rich product offering, we did not get the result that we targeted. Although we were able to secure multiple sockets, including several highly integrated RF modules, our content position is expected to be down 20% to 25%.' On this news, the price of Skyworks stock fell $21.48 per share, over 24%, to close at $65.60 per share on February 6, 2025. WHY CONTACT KAPLAN FOX - Kaplan Fox is a leading national law firm focusing on complex litigation with offices in New York, Oakland, Los Angeles, Chicago and New Jersey. With over 50 years of experience in securities litigation, Kaplan Fox offers the professional experience and track record that clients demand. Through prosecuting cases on the federal and state levels, Kaplan Fox has successfully shaped the law through winning many important decisions on behalf of our clients. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules. If you have any questions about this Notice, your rights, or your interests, please contact: CONTACT: Pamela A. Mayer KAPLAN FOX & KILSHEIMER LLP 800 Third Avenue, 38th Floor New York, New York 10022 (646) 315-9003 pmayer@ Laurence D. King KAPLAN FOX & KILSHEIMER LLP 1999 Harrison Street, Suite 1560 Oakland, California 94612 (415) 772-4704 lking@ Contacting or submitting information to Kaplan Fox & Kilsheimer LLP does not create an attorney-client relationship, nor an obligation on the part of Kaplan Fox to retain you as a client.
