Vetr lowered shares of Skyworks Solutions, Inc. (NASDAQ:SWKS) from a buy rating to a hold rating in a report published on Monday. The firm currently has $112.42 target price on the semiconductor manufacturer’s stock.
A number of other equities analysts also recently commented on SWKS. ValuEngine downgraded shares of Skyworks Solutions from a buy rating to a hold rating in a report on Tuesday, May 23rd. Raymond James Financial, Inc. reaffirmed an outperform rating and issued a $120.00 price objective on shares of Skyworks Solutions in a report on Friday, June 16th. Pacific Crest reaffirmed an overweight rating and issued a $120.00 price objective on shares of Skyworks Solutions in a report on Wednesday, June 21st. BidaskClub downgraded shares of Skyworks Solutions from a strong-buy rating to a buy rating in a report on Thursday, June 29th. Finally, Argus initiated coverage on shares of Skyworks Solutions in a report on Thursday, July 6th. They issued a buy rating and a $120.00 price objective for the company. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average price target of $111.82.
Shares of Skyworks Solutions (SWKS) opened at 103.51 on Monday. Skyworks Solutions has a 52-week low of $71.65 and a 52-week high of $112.11. The company has a 50-day moving average of $104.54 and a 200 day moving average of $102.42. The stock has a market cap of $19.02 billion, a P/E ratio of 19.87 and a beta of 0.81.
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 analysts’ consensus estimates of $1.52 by $0.05. The firm 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%. The firm’s revenue was up 19.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.24 earnings per share. Equities research analysts forecast that Skyworks Solutions will post $6.39 EPS for the current fiscal year.
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The company also recently announced a quarterly dividend, which was paid on Tuesday, August 29th. Investors of record on Tuesday, August 8th were issued a dividend of $0.32 per share. This is a positive change from Skyworks Solutions’s previous quarterly dividend of $0.28. This represents a $1.28 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend was Friday, August 4th. Skyworks Solutions’s payout ratio is presently 24.57%.
In related news, Director Christine King sold 3,705 shares of Skyworks Solutions stock in a transaction dated Wednesday, September 6th. The stock was 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 of the company’s stock, valued at approximately $1,777,591.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Liam Griffin sold 2,610 shares of Skyworks Solutions stock in a transaction dated 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 directly owns 50,408 shares in the company, valued at approximately $5,039,791.84. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 14,371 shares of company stock worth $1,505,093. 0.49% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. Invictus RG purchased a new position in Skyworks Solutions in the 1st quarter worth about $101,000. Winslow Evans & Crocker Inc. increased its stake in Skyworks Solutions by 3.3% in the 2nd quarter. Winslow Evans & Crocker Inc. now owns 1,085 shares of the semiconductor manufacturer’s stock worth $104,000 after purchasing an additional 35 shares in the last quarter. WFG Advisors LP increased its stake in Skyworks Solutions by 18.6% in the 1st quarter. WFG Advisors LP now owns 1,155 shares of the semiconductor manufacturer’s stock worth $113,000 after purchasing an additional 181 shares in the last quarter. Sun Life Financial INC increased its stake in Skyworks Solutions by 551.5% in the 2nd quarter. Sun Life Financial INC now owns 1,342 shares of the semiconductor manufacturer’s stock worth $129,000 after purchasing an additional 1,136 shares in the last quarter. Finally, TrimTabs Asset Management LLC increased its stake in Skyworks Solutions by 89.0% in the 1st quarter. TrimTabs Asset Management LLC now owns 1,410 shares of the semiconductor manufacturer’s stock worth $138,000 after purchasing an additional 664 shares in the last quarter. 80.84% of the stock is currently owned by hedge funds and other 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.
To view Vetr’s full report, visit Vetr’s official website.
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