KeyCorp Reaffirms “Buy” Rating for Skyworks Solutions, Inc. (SWKS)
KeyCorp reaffirmed their buy rating on shares of Skyworks Solutions, Inc. (NASDAQ:SWKS) in a report published on Friday. KeyCorp currently has a $120.00 target price on the semiconductor manufacturer’s stock.
SWKS has been the topic of a number of other research reports. ValuEngine downgraded Skyworks Solutions from a buy rating to a hold rating in a report on Tuesday, May 23rd. Zacks Investment Research upgraded Skyworks Solutions from a hold rating to a buy rating and set a $114.00 price target on the stock in a report on Monday, August 28th. Vetr upgraded Skyworks Solutions from a buy rating to a strong-buy rating and set a $114.47 price target on the stock in a report on Tuesday, August 29th. BMO Capital Markets reiterated a hold rating and set a $100.00 price target on shares of Skyworks Solutions in a report on Friday, July 21st. Finally, Raymond James Financial, Inc. reiterated an outperform rating and set a $120.00 price target on shares of Skyworks Solutions in a report on Friday, June 16th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the company. The company has an average rating of Buy and a consensus target price of $110.18.
Shares of Skyworks Solutions (NASDAQ SWKS) opened at 105.57 on Friday. The firm has a 50-day moving average price of $104.18 and a 200-day moving average price of $101.35. Skyworks Solutions has a 52 week low of $65.76 and a 52 week high of $112.11. The firm has a market capitalization of $19.40 billion, a price-to-earnings ratio of 20.26 and a beta of 0.81.
Skyworks Solutions (NASDAQ:SWKS) last issued its quarterly earnings results on Thursday, July 20th. The semiconductor manufacturer reported $1.57 earnings per share for the quarter, beating analysts’ consensus estimates of $1.52 by $0.05. Skyworks Solutions had a return on equity of 28.67% and a net margin of 27.86%. The business had revenue of $900.80 million for the quarter, compared to the consensus estimate of $890.58 million. During the same quarter in the previous year, the company posted $1.24 earnings per share. Skyworks Solutions’s revenue for the quarter was up 19.8% compared to the same quarter last year. On average, equities analysts expect that Skyworks Solutions will post $6.39 earnings per share for the current fiscal year.
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The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 29th. Investors of record on Tuesday, August 8th were given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.21%. The ex-dividend date of this dividend was Friday, August 4th. This is a boost from Skyworks Solutions’s previous quarterly dividend of $0.28. Skyworks Solutions’s payout ratio is currently 24.57%.
In other Skyworks Solutions news, insider Liam Griffin sold 2,610 shares of the company’s stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $99.98, for a total value of $260,947.80. Following the completion of the transaction, the insider now owns 50,408 shares of the company’s stock, valued at approximately $5,039,791.84. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.49% of the stock is currently owned by insiders.
A number of institutional investors have recently bought and sold shares of SWKS. Macquarie Group Ltd. raised its holdings in Skyworks Solutions by 100.0% in the 4th quarter. Macquarie Group Ltd. now owns 10,400 shares of the semiconductor manufacturer’s stock valued at $776,000 after acquiring an additional 5,200 shares in the last quarter. State of Alaska Department of Revenue acquired a new position in Skyworks Solutions in the 1st quarter valued at approximately $196,000. Waldron LP raised its holdings in Skyworks Solutions by 5.7% in the 1st quarter. Waldron LP now owns 3,076 shares of the semiconductor manufacturer’s stock valued at $301,000 after acquiring an additional 165 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in Skyworks Solutions by 3.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 17,354 shares of the semiconductor manufacturer’s stock valued at $1,700,000 after acquiring an additional 511 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in Skyworks Solutions by 44.8% in the 1st quarter. Russell Investments Group Ltd. now owns 227,452 shares of the semiconductor manufacturer’s stock valued at $22,294,000 after acquiring an additional 70,374 shares in the last quarter. 80.86% of the stock is owned by hedge funds and other institutional investors.
Skyworks Solutions Company Profile
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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