Skyworks Solutions (NASDAQ:SWKS) Lifted to Positive at Susquehanna

Susquehanna upgraded shares of Skyworks Solutions (NASDAQ:SWKS – Get Rating) from a neutral rating to a positive rating in a research report sent to investors on Thursday morning, Marketbeat Ratings reports. They currently have $135.00 target price on the semiconductor manufacturer’s stock, up from their previous target price of $110.00.

Other equities analysts have also recently issued research reports about the company. KGI Securities upgraded Skyworks Solutions from a neutral rating to an outperform rating in a report on Wednesday, November 30th. Craig Hallum boosted their price objective on Skyworks Solutions from $120.00 to $130.00 and gave the company a buy rating in a report on Tuesday, February 7th. KeyCorp boosted their price objective on Skyworks Solutions from $120.00 to $130.00 and gave the company an overweight rating in a report on Tuesday, February 7th. Cowen boosted their price objective on Skyworks Solutions from $120.00 to $135.00 and gave the company an outperform rating in a report on Tuesday, February 7th. Finally, Raymond James restated a market perform rating on shares of Skyworks Solutions in a report on Thursday, March 2nd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $120.35.

Skyworks Solutions Price Performance

Shares of Skyworks Solutions stock opened at $114.07 on Thursday. The stock has a market cap of $18.13 billion, a price-to-earnings ratio of 15.56, a price-to-earnings-growth ratio of 0.94 and a beta of 1.29. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.75 and a current ratio of 2.79. The stock has a 50 day moving average price of $111.20 and a 200-day moving average price of $98.52. Skyworks Solutions has a one year low of $76.16 and a one year high of $141.26.

Skyworks Solutions (NASDAQ:SWKS – Get Rating) last announced its earnings results on Monday, February 6th. The semiconductor manufacturer reported $2.59 EPS for the quarter, hitting analysts’ consensus estimates of $2.59. The firm had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Skyworks Solutions had a return on equity of 28.65% and a net margin of 22.33%. The company’s quarterly revenue was down 12.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.90 EPS. Equities analysts expect that Skyworks Solutions will post 8.21 EPS for the current year.

Skyworks Solutions declared that its Board of Directors has authorized a stock buyback program on Monday, February 6th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the semiconductor manufacturer to purchase up to 11.5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Skyworks Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 21st. Stockholders of record on Tuesday, February 28th will be given a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 2.17%. The ex-dividend date is Monday, February 27th. Skyworks Solutions’s payout ratio is 33.83%.

Insider Buying and Selling

In other Skyworks Solutions news, SVP Karilee A. Durham sold 2,716 shares of the business’s stock in a transaction dated Monday, January 23rd. The stock was sold at an average price of $110.00, for a total transaction of $298,760.00. Following the sale, the senior vice president now owns 13,428 shares in the company, valued at approximately $1,477,080. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Skyworks Solutions news, SVP Karilee A. Durham sold 2,716 shares of the business’s stock in a transaction dated Monday, January 23rd. The stock was sold at an average price of $110.00, for a total transaction of $298,760.00. Following the sale, the senior vice president now owns 13,428 shares in the company, valued at approximately $1,477,080. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Reza Kasnavi sold 3,000 shares of the business’s stock in a transaction dated Friday, February 10th. The shares were sold at an average price of $120.03, for a total value of $360,090.00. Following the sale, the senior vice president now owns 16,994 shares in the company, valued at approximately $2,039,789.82. The disclosure for this sale can be found here. 0.31% of the stock is owned by company insiders.

Institutional Trading of Skyworks Solutions

Hedge funds have recently modified their holdings of the stock. Smithbridge Asset Management Inc. DE raised its position in Skyworks Solutions by 7.4% during the fourth quarter. Smithbridge Asset Management Inc. DE now owns 49,533 shares of the semiconductor manufacturer’s stock valued at $4,514,000 after acquiring an additional 3,399 shares in the last quarter. Voya Investment Management LLC lifted its stake in shares of Skyworks Solutions by 2.7% in the 4th quarter. Voya Investment Management LLC now owns 64,799 shares of the semiconductor manufacturer’s stock valued at $5,905,000 after purchasing an additional 1,707 shares during the period. Natixis lifted its stake in shares of Skyworks Solutions by 599.7% in the 4th quarter. Natixis now owns 203,539 shares of the semiconductor manufacturer’s stock valued at $18,549,000 after purchasing an additional 174,449 shares during the period. Alamar Capital Management LLC purchased a new stake in Skyworks Solutions during the fourth quarter worth $1,674,000. Finally, National Pension Service grew its position in Skyworks Solutions by 3.3% during the fourth quarter. National Pension Service now owns 294,798 shares of the semiconductor manufacturer’s stock valued at $26,865,000 after buying an additional 9,348 shares during the period. Hedge funds and other institutional investors own 75.37% of the company’s stock.

About Skyworks Solutions

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Skyworks Solutions, Inc engages in the design, development, and manufacture of proprietary semiconductor products. Its products include amplifiers, attenuators, circulators, demodulators, detectors, diodes, directional couplers, front-end modules, hybrids, isolators, lighting and display solutions, mixers, modulators, optocouplers, optoisolators, phase shifters, synthesizers, power dividers and combiners, receivers, switches, and technical ceramics.