Skyworks Solutions’ (SWKS) “Buy” Rating Reaffirmed at Canaccord Genuity
Skyworks Solutions Inc. (NASDAQ:SWKS)‘s stock had its “buy” rating restated by equities research analysts at Canaccord Genuity in a research note issued on Friday. They presently have a $92.00 price objective on the semiconductor manufacturer’s stock. Canaccord Genuity’s price target would suggest a potential upside of 19.64% from the stock’s current price.
Several other equities research analysts have also issued reports on SWKS. BMO Capital Markets reiterated a “market perform” rating and set a $69.00 target price on shares of Skyworks Solutions in a research report on Tuesday, May 31st. Pacific Crest restated an “overweight” rating and issued a $90.00 price objective on shares of Skyworks Solutions in a report on Tuesday, June 7th. Vetr lowered shares of Skyworks Solutions from a “strong-buy” rating to a “buy” rating and set a $74.14 price objective for the company. in a report on Tuesday, June 7th. B. Riley lowered shares of Skyworks Solutions to a “buy” rating in a report on Monday, June 13th. Finally, Brean Capital restated a “buy” rating on shares of Skyworks Solutions in a report on Wednesday, June 15th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. Skyworks Solutions currently has a consensus rating of “Buy” and a consensus price target of $82.92.
Skyworks Solutions (NASDAQ:SWKS) traded down 0.69% during midday trading on Friday, reaching $76.37. 485,096 shares of the company’s stock were exchanged. The firm has a 50-day moving average price of $71.83 and a 200 day moving average price of $69.38. Skyworks Solutions has a 12-month low of $54.50 and a 12-month high of $89.72. The company has a market cap of $14.32 billion, a price-to-earnings ratio of 15.13 and a beta of 1.15.
Skyworks Solutions (NASDAQ:SWKS) last announced its earnings results on Thursday, July 21st. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.03. Skyworks Solutions had a net margin of 29.32% and a return on equity of 29.31%. The business earned $751.70 million during the quarter, compared to analyst estimates of $750.22 million. On average, analysts expect that Skyworks Solutions will post $5.53 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, August 25th. Shareholders of record on Thursday, August 4th were paid a dividend of $0.28 per share. The ex-dividend date was Tuesday, August 2nd. This represents a $1.12 annualized dividend and a yield of 1.46%. This is a boost from Skyworks Solutions’s previous quarterly dividend of $0.26. Skyworks Solutions’s dividend payout ratio is currently 22.18%.
In other Skyworks Solutions news, VP Mark V. B. Tremallo sold 7,692 shares of the company’s stock in a transaction dated Tuesday, September 20th. The shares were sold at an average price of $75.64, for a total transaction of $581,822.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman David J. Aldrich sold 15,000 shares of the company’s stock in a transaction dated Tuesday, June 28th. The shares were sold at an average price of $60.21, for a total transaction of $903,150.00. Following the transaction, the chairman now owns 145,327 shares in the company, valued at approximately $8,750,138.67. The disclosure for this sale can be found here. Company insiders own 0.62% of the company’s stock.
A number of institutional investors have recently bought and sold shares of SWKS. Fuller & Thaler Asset Management Inc. boosted its position in Skyworks Solutions by 260.0% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 1,800 shares of the semiconductor manufacturer’s stock valued at $114,000 after buying an additional 1,300 shares in the last quarter. Bellwether Investment Group LLC bought a new position in Skyworks Solutions during the second quarter valued at about $125,000. Synovus Financial Corp boosted its position in Skyworks Solutions by 16.0% in the second quarter. Synovus Financial Corp now owns 2,282 shares of the semiconductor manufacturer’s stock valued at $143,000 after buying an additional 315 shares in the last quarter. Checchi Capital Advisers LLC boosted its position in Skyworks Solutions by 39.7% in the second quarter. Checchi Capital Advisers LLC now owns 2,369 shares of the semiconductor manufacturer’s stock valued at $150,000 after buying an additional 673 shares in the last quarter. Finally, Mizuho Asset Management Co. Ltd. boosted its position in Skyworks Solutions by 101.5% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,585 shares of the semiconductor manufacturer’s stock valued at $164,000 after buying an additional 1,302 shares in the last quarter. Institutional investors and hedge funds own 76.66% of the company’s stock.
About Skyworks Solutions
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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