Wells Fargo & Company Reiterates “Outperform” Rating for Skyworks Solutions, Inc. (NASDAQ:SWKS)
A number of other research analysts have also issued reports on SWKS. Vetr lowered shares of Skyworks Solutions from a buy rating to a hold rating and set a $101.62 price target on the stock. in a research note on Monday, April 3rd. Pacific Crest upgraded shares of Skyworks Solutions from a sector weight rating to an overweight rating and set a $120.00 target price on the stock in a research report on Tuesday, April 4th. Craig Hallum upped their target price on shares of Skyworks Solutions from $100.00 to $110.00 and gave the stock a buy rating in a research report on Tuesday, April 4th. Zacks Investment Research upgraded shares of Skyworks Solutions from a hold rating to a buy rating and set a $114.00 target price on the stock in a research report on Tuesday, April 11th. Finally, Barclays PLC upped their target price on shares of Skyworks Solutions from $100.00 to $110.00 and gave the stock an overweight rating in a research report on Tuesday, April 18th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, twenty-one have given a buy rating and three have given a strong buy rating to the company’s stock. The company has an average rating of Buy and an average price target of $108.09.
Shares of Skyworks Solutions (NASDAQ SWKS) traded down 2.09% on Monday, reaching $102.25. 680,064 shares of the company were exchanged. Skyworks Solutions has a 52-week low of $63.30 and a 52-week high of $112.11. The stock has a 50 day moving average of $102.48 and a 200-day moving average of $99.30. The company has a market capitalization of $18.79 billion, a P/E ratio of 19.63 and a beta of 0.82.
Skyworks Solutions (NASDAQ:SWKS) last issued its quarterly earnings results on Thursday, July 20th. The semiconductor manufacturer reported $1.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.52 by $0.05. Skyworks Solutions had a net margin of 27.86% and a return on equity of 28.67%. The business had revenue of $900.80 million for the quarter, compared to analyst estimates of $890.58 million. During the same period in the previous year, the business posted $1.24 earnings per share. The business’s revenue was up 19.8% compared to the same quarter last year. On average, analysts predict that Skyworks Solutions will post $6.39 EPS for the current fiscal year.
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The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 29th. Shareholders of record on Tuesday, August 8th will be paid a dividend of $0.32 per share. The ex-dividend date is Friday, August 4th. This represents a $1.28 dividend on an annualized basis and a yield of 1.23%. This is an increase from Skyworks Solutions’s previous quarterly dividend of $0.28. Skyworks Solutions’s dividend payout ratio (DPR) is currently 21.50%.
In other Skyworks Solutions news, insider Liam Griffin sold 8,056 shares of the stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $105.31, for a total transaction of $848,377.36. Following the transaction, the insider now owns 54,310 shares of the company’s stock, valued at $5,719,386.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Christine King sold 3,500 shares of the stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $108.84, for a total transaction of $380,940.00. Following the transaction, the director now directly owns 16,436 shares in the company, valued at approximately $1,788,894.24. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 29,806 shares of company stock worth $3,088,627. 0.49% of the stock is currently owned by insiders.
A number of institutional investors have recently bought and sold shares of SWKS. BlackRock Inc. increased its position in Skyworks Solutions by 3,071.2% in the first quarter. BlackRock Inc. now owns 12,053,655 shares of the semiconductor manufacturer’s stock worth $1,181,019,000 after buying an additional 11,673,555 shares in the last quarter. Winslow Capital Management LLC bought a new position in Skyworks Solutions during the first quarter worth $205,388,000. Boston Partners bought a new position in Skyworks Solutions during the first quarter worth $82,702,000. AQR Capital Management LLC increased its position in Skyworks Solutions by 138.9% in the first quarter. AQR Capital Management LLC now owns 1,406,274 shares of the semiconductor manufacturer’s stock worth $137,787,000 after buying an additional 817,721 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in Skyworks Solutions by 2.7% in the first quarter. Vanguard Group Inc. now owns 17,823,006 shares of the semiconductor manufacturer’s stock worth $1,746,298,000 after buying an additional 466,480 shares in the last quarter. 80.85% of the stock is currently owned by institutional investors.
About Skyworks Solutions
Skyworks Solutions Inc designs, develops, manufactures and markets semiconductor products, including intellectual property. The Company’s analog semiconductors are connecting people, places, and things, spanning a number of new and unimagined applications within the automotive, broadband, cellular infrastructure, connected home, industrial, medical, military, smartphone, tablet and wearable markets.
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