MKM Partners Reaffirms “Buy” Rating for Skyworks Solutions Inc. (SWKS)
MKM Partners reaffirmed their buy rating on shares of Skyworks Solutions Inc. (NASDAQ:SWKS) in a report released on Monday. The firm currently has a $93.00 target price on the semiconductor manufacturer’s stock.
Other research analysts have also issued reports about the stock. Vetr upgraded shares of Skyworks Solutions from a hold rating to a buy rating and set a $72.24 target price on the stock in a research note on Monday, July 25th. Drexel Hamilton restated a buy rating and issued a $90.00 price target on shares of Skyworks Solutions in a research report on Sunday, July 24th. Brean Capital restated a buy rating and issued a $80.00 price target on shares of Skyworks Solutions in a research report on Monday, July 18th. B. Riley restated a buy rating and issued a $93.00 price target on shares of Skyworks Solutions in a research report on Monday, July 25th. Finally, Needham & Company LLC restated a buy rating and issued a $73.00 price target on shares of Skyworks Solutions in a research report on Monday, July 25th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-one have issued a buy rating to the stock. The company has a consensus rating of Buy and an average price target of $84.63.
Shares of Skyworks Solutions (NASDAQ:SWKS) opened at 77.66 on Monday. The company’s 50-day moving average is $76.81 and its 200 day moving average is $69.79. Skyworks Solutions has a 1-year low of $54.50 and a 1-year high of $88.52. The firm has a market cap of $14.42 billion, a price-to-earnings ratio of 14.99 and a beta of 1.11.
Skyworks Solutions (NASDAQ:SWKS) last posted its earnings results on Thursday, November 3rd. The semiconductor manufacturer reported $1.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.04. Skyworks Solutions had a net margin of 30.26% and a return on equity of 28.16%. The business had revenue of $835.40 million for the quarter, compared to analyst estimates of $830.94 million. During the same period last year, the business posted $1.52 EPS. Skyworks Solutions’s revenue was down 5.2% compared to the same quarter last year. On average, equities research analysts expect that Skyworks Solutions will post $6.18 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 8th. Stockholders of record on Thursday, November 17th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 1.44%. The ex-dividend date is Tuesday, November 15th. Skyworks Solutions’s payout ratio is presently 21.62%.
In related news, Director Timothy R. Furey sold 5,000 shares of the company’s stock in a transaction dated Thursday, September 1st. The shares were sold at an average price of $74.87, for a total value of $374,350.00. Following the transaction, the director now directly owns 34,947 shares in the company, valued at $2,616,481.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Laura A. Gasparini sold 2,650 shares of the company’s stock in a transaction dated Friday, September 2nd. The shares were sold at an average price of $74.84, for a total transaction of $198,326.00. The disclosure for this sale can be found here. 0.62% of the stock is currently owned by insiders.
Several institutional investors have recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. acquired a new position in Skyworks Solutions during the first quarter valued at approximately $182,000. AXA increased its position in Skyworks Solutions by 38.8% in the first quarter. AXA now owns 53,203 shares of the semiconductor manufacturer’s stock valued at $4,145,000 after buying an additional 14,876 shares during the period. Geode Capital Management LLC increased its position in Skyworks Solutions by 3.1% in the first quarter. Geode Capital Management LLC now owns 1,744,832 shares of the semiconductor manufacturer’s stock valued at $135,677,000 after buying an additional 53,208 shares during the period. National Pension Service increased its position in Skyworks Solutions by 3.6% in the first quarter. National Pension Service now owns 145,558 shares of the semiconductor manufacturer’s stock valued at $11,339,000 after buying an additional 5,020 shares during the period. Finally, Wealthsource Partners LLC acquired a new position in Skyworks Solutions during the first quarter valued at approximately $252,000. Institutional investors and hedge funds own 76.63% of the company’s stock.
About Skyworks Solutions
Skyworks Solutions Inc is engaged in the production of analog semiconductors. The Company supports automotive, broadband, wireless infrastructure, energy management, Global Positioning System (GPS), industrial, medical, military, wireless networking, smartphone and tablet applications. The Company’s portfolio includes amplifiers, attenuators, circulators, demodulators, detectors, diodes, directional couplers, front-end modules, hybrids, infrastructure radio frequency (RF) subsystems, isolators, lighting and display solutions, mixers, modulators, optocouplers, optoisolators, phase shifters, phase locked loops (PLLs), synthesizers, voltage controlled oscillator power dividers (VCOs), power dividers/combiners, power management devices, receivers, switches, and technical ceramics.
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