Instinet assumed coverage on shares of Skyworks Solutions, Inc. (NASDAQ:SWKS) in a research note released on Wednesday, MarketBeat.com reports. The firm issued a buy rating and a $115.00 price objective on the semiconductor manufacturer’s stock.

Several other research analysts also recently commented on the stock. Citigroup Inc. raised shares of Skyworks Solutions from a sell rating to a buy rating and set a $125.00 price objective for the company in a report on Tuesday. KeyCorp reaffirmed a buy rating and issued a $120.00 price objective on shares of Skyworks Solutions in a report on Friday, September 1st. Vetr raised shares of Skyworks Solutions from a buy rating to a strong-buy rating and set a $114.47 price objective for the company in a report on Tuesday, August 29th. Zacks Investment Research raised shares of Skyworks Solutions from a hold rating to a buy rating and set a $114.00 price objective for the company in a report on Monday, August 28th. Finally, BidaskClub downgraded shares of Skyworks Solutions from a strong-buy rating to a buy rating in a report on Wednesday, August 23rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has an average rating of Buy and an average price target of $111.71.

Shares of Skyworks Solutions (NASDAQ:SWKS) opened at 104.64 on Wednesday. The company has a 50 day moving average price of $104.30 and a 200 day moving average price of $101.72. The company has a market capitalization of $19.23 billion, a PE ratio of 20.08 and a beta of 0.81. Skyworks Solutions has a 52 week low of $65.76 and a 52 week high of $112.11.

Skyworks Solutions (NASDAQ:SWKS) last released its quarterly earnings data on Thursday, July 20th. The semiconductor manufacturer reported $1.57 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.52 by $0.05. The company had revenue of $900.80 million during the quarter, compared to the consensus estimate of $890.58 million. Skyworks Solutions had a net margin of 27.86% and a return on equity of 28.67%. Skyworks Solutions’s revenue for the quarter was up 19.8% on a year-over-year basis. During the same period last year, the firm earned $1.24 EPS. On average, equities research analysts expect that Skyworks Solutions will post $6.39 earnings per share for the current year.

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The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 29th. Shareholders of record on Tuesday, August 8th were given a $0.32 dividend. This is a boost from Skyworks Solutions’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Friday, August 4th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.22%. Skyworks Solutions’s payout ratio is presently 24.57%.

In other Skyworks Solutions news, Director Christine King sold 3,705 shares of the business’s stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $106.82, for a total value of $395,768.10. Following the transaction, the director now owns 16,641 shares in the company, valued at $1,777,591.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Liam Griffin sold 2,610 shares of the business’s stock in a transaction dated Tuesday, August 29th. The shares were sold at an average price of $99.98, for a total transaction of $260,947.80. Following the completion of the transaction, the insider now owns 50,408 shares in the company, valued at approximately $5,039,791.84. The disclosure for this sale can be found here. Insiders sold 14,371 shares of company stock worth $1,505,093 in the last 90 days. Corporate insiders own 0.49% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in shares of Skyworks Solutions by 2.8% in the second quarter. Vanguard Group Inc. now owns 18,326,001 shares of the semiconductor manufacturer’s stock valued at $1,758,380,000 after acquiring an additional 502,995 shares during the period. BlackRock Inc. increased its position in shares of Skyworks Solutions by 3,071.2% in the first quarter. BlackRock Inc. now owns 12,053,655 shares of the semiconductor manufacturer’s stock valued at $1,181,019,000 after acquiring an additional 11,673,555 shares during the period. State Street Corp increased its position in shares of Skyworks Solutions by 0.5% in the first quarter. State Street Corp now owns 7,739,120 shares of the semiconductor manufacturer’s stock valued at $758,285,000 after acquiring an additional 38,898 shares during the period. Bank of New York Mellon Corp increased its position in shares of Skyworks Solutions by 3.8% in the second quarter. Bank of New York Mellon Corp now owns 2,652,096 shares of the semiconductor manufacturer’s stock valued at $254,468,000 after acquiring an additional 95,860 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Skyworks Solutions by 9.6% in the first quarter. Geode Capital Management LLC now owns 2,170,250 shares of the semiconductor manufacturer’s stock valued at $212,388,000 after acquiring an additional 189,313 shares during the period. Hedge funds and other institutional investors own 80.86% of the company’s stock.

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.

Analyst Recommendations for Skyworks Solutions (NASDAQ:SWKS)

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