Timothy R. Furey Sells 7,500 Shares of Skyworks Solutions Inc. (SWKS) Stock
Skyworks Solutions Inc. (NASDAQ:SWKS) Director Timothy R. Furey sold 7,500 shares of the firm’s stock in a transaction on Wednesday, November 9th. The stock was sold at an average price of $77.81, for a total value of $583,575.00. Following the completion of the transaction, the director now directly owns 27,447 shares in the company, valued at $2,135,651.07. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Shares of Skyworks Solutions Inc. (NASDAQ:SWKS) opened at 74.04 on Tuesday. Skyworks Solutions Inc. has a 1-year low of $54.50 and a 1-year high of $88.52. The stock’s 50 day moving average is $76.70 and its 200 day moving average is $69.85. The company has a market cap of $13.75 billion, a P/E ratio of 14.29 and a beta of 1.11.
Skyworks Solutions (NASDAQ:SWKS) last released its quarterly earnings results on Thursday, November 3rd. The semiconductor manufacturer reported $1.47 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.04. Skyworks Solutions had a net margin of 30.26% and a return on equity of 28.16%. The firm earned $835.40 million during the quarter, compared to the consensus estimate of $830.94 million. During the same quarter in the prior year, the firm earned $1.52 EPS. The company’s revenue for the quarter was down 5.2% on a year-over-year basis. On average, analysts predict that Skyworks Solutions Inc. will post $6.18 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 8th. Investors of record on Thursday, November 17th will be given a dividend of $0.28 per share. The ex-dividend date is Tuesday, November 15th. This represents a $1.12 annualized dividend and a dividend yield of 1.51%. Skyworks Solutions’s dividend payout ratio (DPR) is presently 21.62%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Capital Research Global Investors increased its position in Skyworks Solutions by 18.9% in the second quarter. Capital Research Global Investors now owns 23,273,661 shares of the semiconductor manufacturer’s stock valued at $1,472,757,000 after buying an additional 3,692,877 shares during the period. Manning & Napier Advisors LLC bought a new position in Skyworks Solutions during the third quarter valued at $278,774,000. Lazard Asset Management LLC increased its position in Skyworks Solutions by 21.2% in the third quarter. Lazard Asset Management LLC now owns 6,522,708 shares of the semiconductor manufacturer’s stock valued at $496,638,000 after buying an additional 1,141,188 shares during the period. Villere ST Denis J & Co. LLC bought a new position in Skyworks Solutions during the second quarter valued at $66,184,000. Finally, Snow Capital Management LP bought a new position in Skyworks Solutions during the third quarter valued at $48,654,000. Hedge funds and other institutional investors own 78.50% of the company’s stock.
SWKS has been the topic of a number of recent research reports. Vetr cut Skyworks Solutions from a “buy” rating to a “hold” rating and set a $70.16 target price on the stock. in a report on Monday, July 18th. Brean Capital reaffirmed a “buy” rating and issued a $80.00 target price on shares of Skyworks Solutions in a report on Monday, July 18th. Cowen and Company decreased their target price on Skyworks Solutions from $76.00 to $72.00 and set a “market perform” rating on the stock in a report on Friday, July 22nd. BMO Capital Markets reaffirmed a “hold” rating and issued a $65.00 target price on shares of Skyworks Solutions in a report on Friday, July 22nd. Finally, Drexel Hamilton reaffirmed a “buy” rating and issued a $90.00 target price on shares of Skyworks Solutions in a report on Sunday, July 24th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $84.71.
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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