Longbow Research assumed coverage on shares of Skyworks Solutions (NASDAQ:SWKS) in a research report report published on Wednesday morning. The brokerage issued a buy rating and a $120.00 target price on the semiconductor manufacturer’s stock.
Other equities research analysts have also issued reports about the company. Vetr lowered Skyworks Solutions from a sell rating to a strong sell rating and set a $91.21 price target on the stock. in a research report on Wednesday, February 7th. UBS upgraded Skyworks Solutions from a hold rating to a buy rating in a research report on Tuesday, February 6th. B. Riley dropped their price target on Skyworks Solutions from $131.00 to $128.00 and set a buy rating on the stock in a research report on Tuesday, February 6th. BidaskClub upgraded Skyworks Solutions from a sell rating to a hold rating in a research report on Wednesday, May 9th. Finally, Canaccord Genuity lifted their price target on Skyworks Solutions from $115.00 to $120.00 and gave the company a buy rating in a research report on Tuesday, February 6th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twenty-two have given a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus target price of $115.16.
Skyworks Solutions opened at $98.49 on Wednesday, according to MarketBeat. Skyworks Solutions has a twelve month low of $86.13 and a twelve month high of $117.65. The company has a market cap of $17.93 billion, a P/E ratio of 15.13, a PEG ratio of 1.22 and a beta of 0.66.
Skyworks Solutions (NASDAQ:SWKS) last released its quarterly earnings results on Thursday, May 3rd. The semiconductor manufacturer reported $1.64 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.60 by $0.04. Skyworks Solutions had a return on equity of 30.35% and a net margin of 22.69%. The company had revenue of $913.40 million for the quarter, compared to analyst estimates of $911.02 million. During the same period in the previous year, the company posted $1.45 earnings per share. The firm’s revenue was up 7.2% on a year-over-year basis. research analysts predict that Skyworks Solutions will post 6.41 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 12th. Shareholders of record on Tuesday, May 22nd will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 1.30%. The ex-dividend date of this dividend is Monday, May 21st. Skyworks Solutions’s dividend payout ratio (DPR) is 21.40%.
Skyworks Solutions declared that its Board of Directors has initiated a share repurchase plan on Monday, February 5th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the semiconductor manufacturer to purchase shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its stock is undervalued.
In other news, insider Peter L. Gammel sold 10,750 shares of the company’s stock in a transaction on Thursday, March 15th. The stock was sold at an average price of $111.21, for a total transaction of $1,195,507.50. Following the transaction, the insider now directly owns 18,670 shares of the company’s stock, valued at $2,076,290.70. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman David J. Aldrich sold 30,000 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $106.00, for a total value of $3,180,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 87,151 shares of company stock worth $9,458,773. Corporate insiders own 0.47% of the company’s stock.
Large investors have recently made changes to their positions in the company. Signaturefd LLC bought a new position in shares of Skyworks Solutions during the first quarter valued at $100,000. Mckinley Capital Management LLC Delaware lifted its holdings in shares of Skyworks Solutions by 67.2% during the first quarter. Mckinley Capital Management LLC Delaware now owns 1,478 shares of the semiconductor manufacturer’s stock valued at $148,000 after purchasing an additional 594 shares in the last quarter. Highland Capital Management LP bought a new position in shares of Skyworks Solutions during the first quarter valued at $201,000. Syntal Capital Partners LLC bought a new position in shares of Skyworks Solutions during the first quarter valued at $201,000. Finally, Dearborn Partners LLC bought a new position in shares of Skyworks Solutions during the first quarter valued at $208,000. 82.09% of the stock is currently owned by hedge funds and other institutional investors.
Skyworks Solutions Company Profile
Skyworks Solutions, Inc, together with its subsidiaries, designs, develops, manufactures, and markets proprietary semiconductor products, including intellectual property worldwide. Its product portfolio includes amplifiers, attenuators, circulators/isolators, DC/DC converters, demodulators, detectors, diodes, directional couplers, diversity receive modules, filters, front-end modules, hybrids, LED drivers, low noise amplifiers, mixers, modulators, optocouplers/optoisolators, phase shifters, phase locked loops, power dividers/combiners, receivers, switches, synthesizers, technical ceramics, voltage controlled oscillators/synthesizers, and voltage regulators.
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