Skyworks Solutions, Inc. (NASDAQ:SWKS) Downgraded to Buy at BidaskClub
BidaskClub lowered shares of Skyworks Solutions, Inc. (NASDAQ:SWKS) from a strong-buy rating to a buy rating in a research report report published on Thursday.
A number of other equities analysts also recently issued reports on SWKS. B. Riley reissued a buy rating and issued a $120.00 price target on shares of Skyworks Solutions in a research note on Wednesday, May 3rd. MKM Partners reissued a buy rating and issued a $115.00 price target on shares of Skyworks Solutions in a research note on Wednesday, July 26th. Cowen and Company reaffirmed a market perform rating and set a $110.00 target price on shares of Skyworks Solutions in a research note on Friday, July 21st. Charter Equity reaffirmed an outperform rating on shares of Skyworks Solutions in a research note on Saturday, July 22nd. Finally, Zacks Investment Research raised shares of Skyworks Solutions from a hold rating to a buy rating and set a $121.00 target price for the company in a research note on Monday, July 24th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, twenty-two have issued a buy rating and two have issued a strong buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $109.28.
Shares of Skyworks Solutions (SWKS) traded up 1.06% during mid-day trading on Thursday, hitting $102.55. The stock had a trading volume of 1,713,466 shares. The stock’s 50-day moving average is $102.48 and its 200 day moving average is $99.30. The firm has a market capitalization of $18.84 billion, a price-to-earnings ratio of 19.68 and a beta of 0.82. Skyworks Solutions has a 1-year low of $65.14 and a 1-year high of $112.11.
Skyworks Solutions (NASDAQ:SWKS) last released 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. Skyworks Solutions had a net margin of 27.86% and a return on equity of 28.67%. The company had revenue of $900.80 million during the quarter, compared to the consensus estimate of $890.58 million. During the same period in the prior year, the firm earned $1.24 earnings per share. Skyworks Solutions’s revenue was up 19.8% on a year-over-year basis. Equities research analysts predict that Skyworks Solutions will post $6.39 EPS for the current fiscal year.
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The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 29th. Stockholders of record on Tuesday, August 8th will be issued a dividend of $0.32 per share. This is a boost from Skyworks Solutions’s previous quarterly dividend of $0.28. The ex-dividend date is Friday, August 4th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.25%. Skyworks Solutions’s dividend payout ratio is presently 21.50%.
In related news, insider Liam Griffin sold 18,250 shares of the firm’s stock in a transaction that occurred on Thursday, May 11th. The shares were sold at an average price of $101.88, for a total value of $1,859,310.00. Following the sale, the insider now owns 64,466 shares in the company, valued at $6,567,796.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Christine King sold 3,500 shares of the firm’s stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $108.84, for a total transaction of $380,940.00. Following the completion of the sale, the director now owns 16,436 shares in the company, valued at approximately $1,788,894.24. The disclosure for this sale can be found here. In the last quarter, insiders have sold 29,806 shares of company stock worth $3,088,627. Corporate insiders own 0.49% of the company’s stock.
A number of large investors have recently modified their holdings of the company. Cim LLC boosted its stake in shares of Skyworks Solutions by 3.6% in the first quarter. Cim LLC now owns 6,118 shares of the semiconductor manufacturer’s stock valued at $599,000 after buying an additional 215 shares in the last quarter. Advisory Services Network LLC bought a new stake in shares of Skyworks Solutions during the first quarter valued at about $1,340,000. Contravisory Investment Management Inc. bought a new stake in shares of Skyworks Solutions during the first quarter valued at about $6,378,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in shares of Skyworks Solutions by 3.1% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 29,878 shares of the semiconductor manufacturer’s stock valued at $2,927,000 after buying an additional 886 shares in the last quarter. Finally, Swiss National Bank boosted its stake in shares of Skyworks Solutions by 26.3% in the first quarter. Swiss National Bank now owns 658,400 shares of the semiconductor manufacturer’s stock valued at $64,510,000 after buying an additional 137,100 shares in the last quarter. Institutional investors own 80.85% of the company’s stock.
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.
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