Raymond James Financial, Inc. Reiterates Outperform Rating for Skyworks Solutions, Inc. (SWKS)

Skyworks Solutions, Inc. (NASDAQ:SWKS)‘s stock had its “outperform” rating reissued by equities researchers at Raymond James Financial, Inc. in a research report issued to clients and investors on Friday, MarketBeat reports. They currently have a $120.00 price objective on the semiconductor manufacturer’s stock. Raymond James Financial, Inc.’s price objective indicates a potential upside of 15.32% from the company’s previous close.

Several other equities analysts also recently commented on SWKS. B. Riley restated a “buy” rating and issued a $120.00 price target on shares of Skyworks Solutions in a research note on Friday, April 28th. Vetr downgraded shares of Skyworks Solutions from a “strong-buy” rating to a “buy” rating and set a $112.92 price target on the stock. in a research note on Thursday, April 20th. Drexel Hamilton upped their price target on shares of Skyworks Solutions from $105.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, April 28th. Barclays PLC upped their price target on shares of Skyworks Solutions from $100.00 to $110.00 and gave the company an “overweight” rating in a research note on Tuesday, April 18th. Finally, Needham & Company LLC restated a “buy” rating and issued a $108.00 price target (up from $92.00) on shares of Skyworks Solutions in a research note on Friday, April 28th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. Skyworks Solutions presently has a consensus rating of “Buy” and an average target price of $101.33.

Analyst Recommendations for Skyworks Solutions (NASDAQ:SWKS)

Skyworks Solutions (NASDAQ SWKS) opened at 104.06 on Friday. Skyworks Solutions has a 1-year low of $57.11 and a 1-year high of $112.11. The company has a market cap of $19.20 billion, a P/E ratio of 21.45 and a beta of 0.77. The stock has a 50 day moving average price of $104.31 and a 200 day moving average price of $93.77.

Skyworks Solutions (NASDAQ:SWKS) last released its quarterly earnings data on Thursday, April 27th. The semiconductor manufacturer reported $1.33 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.30 by $0.03. Skyworks Solutions had a net margin of 27.27% and a return on equity of 28.00%. The firm had revenue of $851.70 million for the quarter, compared to the consensus estimate of $840.43 million. During the same period in the previous year, the company earned $1.25 earnings per share. The company’s quarterly revenue was up 9.9% on a year-over-year basis. On average, equities research analysts anticipate that Skyworks Solutions will post $6.32 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 6th. Stockholders of record on Tuesday, May 16th were issued a $0.28 dividend. The ex-dividend date of this dividend was Friday, May 12th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.08%. Skyworks Solutions’s dividend payout ratio (DPR) is currently 23.05%.

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In related news, insider Liam Griffin sold 18,250 shares of the firm’s stock in a transaction that occurred on Thursday, May 11th. The shares were sold at an average price of $101.88, for a total value of $1,859,310.00. Following the completion of the transaction, the insider now owns 64,466 shares in the company, valued at approximately $6,567,796.08. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Christine King sold 3,500 shares of the firm’s stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $108.84, for a total transaction of $380,940.00. Following the completion of the transaction, the director now owns 16,436 shares of the company’s stock, valued at approximately $1,788,894.24. The disclosure for this sale can be found here. Insiders sold 94,958 shares of company stock valued at $9,658,971 in the last three months. Company insiders own 0.49% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Invictus RG acquired a new position in shares of Skyworks Solutions during the first quarter worth about $101,000. Winslow Evans & Crocker Inc. raised its position in shares of Skyworks Solutions by 5.0% in the first quarter. Winslow Evans & Crocker Inc. now owns 1,050 shares of the semiconductor manufacturer’s stock worth $103,000 after buying an additional 50 shares during the period. Tompkins Financial Corp acquired a new position in shares of Skyworks Solutions during the first quarter worth about $107,000. WFG Advisors LP raised its position in shares of Skyworks Solutions by 18.6% in the first quarter. WFG Advisors LP now owns 1,155 shares of the semiconductor manufacturer’s stock worth $113,000 after buying an additional 181 shares during the period. Finally, TrimTabs Asset Management LLC raised its position in shares of Skyworks Solutions by 89.0% in the first quarter. TrimTabs Asset Management LLC now owns 1,410 shares of the semiconductor manufacturer’s stock worth $138,000 after buying an additional 664 shares during the period. Institutional investors and hedge funds own 81.30% 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.

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