Skyworks Solutions Inc. (SWKS) Sees Large Volume Increase
Shares of Skyworks Solutions Inc. (NASDAQ:SWKS) saw unusually-strong trading volume on Tuesday . Approximately 2,892,898 shares traded hands during trading, an increase of 23% from the previous session’s volume of 2,344,515 shares.The stock last traded at $74.17 and had previously closed at $75.22.
Several equities research analysts recently commented on SWKS shares. Morgan Stanley started coverage on shares of Skyworks Solutions in a research note on Monday, June 27th. They set an “underweight” rating and a $61.00 price objective on the stock. Zacks Investment Research upgraded shares of Skyworks Solutions from a “strong sell” rating to a “hold” rating in a research note on Wednesday, June 29th. B. Riley downgraded shares of Skyworks Solutions to a “buy” rating in a research note on Monday, June 13th. Pacific Crest reiterated an “overweight” rating on shares of Skyworks Solutions in a research note on Monday, May 16th. Finally, Vetr upgraded shares of Skyworks Solutions from a “buy” rating to a “strong-buy” rating and set a $72.85 target price on the stock in a research note on Monday, June 27th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $84.69.
The stock has a market cap of $13.91 billion and a price-to-earnings ratio of 14.70. The firm’s 50 day moving average is $68.64 and its 200 day moving average is $68.52.
Skyworks Solutions (NASDAQ:SWKS) last posted its earnings results on Thursday, July 21st. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.03. The firm had revenue of $751.70 million for the quarter, compared to analysts’ expectations of $750.22 million. On average, analysts expect that Skyworks Solutions Inc. will post $5.53 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, August 25th. Stockholders of record on Thursday, August 4th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 1.51%. This is an increase from Skyworks Solutions’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Tuesday, August 2nd.
In related news, Chairman David J. Aldrich sold 15,000 shares of the business’s stock in a transaction on Tuesday, June 7th. The shares were sold at an average price of $67.10, for a total value of $1,006,500.00. Following the completion of the sale, the chairman now owns 152,811 shares of the company’s stock, valued at approximately $10,253,618.10. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.
A number of large investors recently modified their holdings of SWKS. BlackRock Advisors LLC raised its stake in shares of Skyworks Solutions by 176.8% in the fourth quarter. BlackRock Advisors LLC now owns 327,929 shares of the semiconductor manufacturer’s stock valued at $25,195,000 after buying an additional 209,475 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Skyworks Solutions by 0.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 681,057 shares of the semiconductor manufacturer’s stock valued at $52,338,000 after buying an additional 2,712 shares during the last quarter. Finally, BNP Paribas Arbitrage SA raised its stake in shares of Skyworks Solutions by 38.3% in the fourth quarter. BNP Paribas Arbitrage SA now owns 64,390 shares of the semiconductor manufacturer’s stock valued at $4,947,000 after buying an additional 17,843 shares during the last quarter.
Skyworks Solutions Inc is engaged in the production of analog semiconductors. The Company supports automotive, broadband, wireless infrastructure, energy management, Global Positioning System (GPS), industrial, medical, military, wireless networking, smartphone and tablet applications. The Company’s portfolio includes amplifiers, attenuators, circulators, demodulators, detectors, diodes, directional couplers, front-end modules, hybrids, infrastructure radio frequency (RF) subsystems, isolators, lighting and display solutions, mixers, modulators, optocouplers, optoisolators, phase shifters, phase locked loops (PLLs), synthesizers, voltage controlled oscillator power dividers (VCOs), power dividers/combiners, power management devices, receivers, switches, and technical ceramics.
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