Cowen and Company reaffirmed their market perform rating on shares of Skyworks Solutions, Inc. (NASDAQ:SWKS) in a research report released on Friday, July 21st, The Fly reports. They currently have a $110.00 price target on the semiconductor manufacturer’s stock.
A number of other research analysts have also recently issued reports on the stock. Zacks Investment Research raised shares of Skyworks Solutions from a hold rating to a buy rating and set a $114.00 price target for the company in a report on Tuesday, April 11th. Craig Hallum raised their price target on shares of Skyworks Solutions from $100.00 to $110.00 and gave the stock a buy rating in a report on Tuesday, April 4th. Macquarie started coverage on shares of Skyworks Solutions in a report on Thursday, March 30th. They set an outperform rating and a $110.00 target price for the company. Mizuho reissued a buy rating on shares of Skyworks Solutions in a report on Friday, April 28th. Finally, Charter Equity reissued a buy rating on shares of Skyworks Solutions in a report on Saturday, April 29th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty have given a buy rating and two have assigned a strong buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $110.43.
Shares of Skyworks Solutions (NASDAQ SWKS) remained flat at $102.21 during trading on Friday. The company had a trading volume of 1,139,401 shares. The firm’s 50-day moving average price is $103.08 and its 200-day moving average price is $100.50. Skyworks Solutions has a 12 month low of $65.76 and a 12 month high of $112.11. The stock has a market capitalization of $18.78 billion, a price-to-earnings ratio of 19.62 and a beta of 0.82.
Skyworks Solutions (NASDAQ:SWKS) last posted its quarterly earnings results on Thursday, July 20th. The semiconductor manufacturer reported $1.57 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.52 by $0.05. The business had revenue of $900.80 million during the quarter, compared to analysts’ expectations of $890.58 million. Skyworks Solutions had a net margin of 27.86% and a return on equity of 28.67%. The business’s quarterly revenue was up 19.8% on a year-over-year basis. During the same quarter last year, the company posted $1.24 earnings per share. Equities analysts expect that Skyworks Solutions will post $6.39 earnings per share for the current fiscal year.
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The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 29th. Shareholders of record on Tuesday, August 8th will be paid a dividend of $0.32 per share. The ex-dividend date is Friday, August 4th. This is an increase from Skyworks Solutions’s previous quarterly dividend of $0.28. This represents a $1.28 dividend on an annualized basis and a yield of 1.25%. Skyworks Solutions’s payout ratio is 24.57%.
In other news, Director Christine King sold 3,500 shares of the business’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 value of $380,940.00. Following the sale, the director now directly owns 16,436 shares of the company’s stock, valued at approximately $1,788,894.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Liam Griffin sold 8,056 shares of the business’s stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $105.31, for a total transaction of $848,377.36. Following the completion of the sale, the insider now directly owns 54,310 shares in the company, valued at $5,719,386.10. The disclosure for this sale can be found here. 0.49% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in SWKS. Invictus RG acquired a new position in shares of Skyworks Solutions during the first quarter worth $101,000. Winslow Evans & Crocker Inc. boosted its position in Skyworks Solutions by 5.0% in the first quarter. Winslow Evans & Crocker Inc. now owns 1,050 shares of the semiconductor manufacturer’s stock valued at $103,000 after buying an additional 50 shares during the period. Tompkins Financial Corp purchased a new position in Skyworks Solutions during the first quarter valued at approximately $107,000. WFG Advisors LP boosted its position in Skyworks Solutions by 18.6% in the first quarter. WFG Advisors LP now owns 1,155 shares of the semiconductor manufacturer’s stock valued at $113,000 after buying an additional 181 shares during the period. Finally, Sun Life Financial INC boosted its position in Skyworks Solutions by 551.5% in the second quarter. Sun Life Financial INC now owns 1,342 shares of the semiconductor manufacturer’s stock valued at $129,000 after buying an additional 1,136 shares during the period. Hedge funds and other institutional investors own 81.26% 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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