Skyworks Solutions’ (NASDAQ:SWKS) “Buy” Rating Reiterated at Northland Securities
Northland Securities reaffirmed their buy rating on shares of Skyworks Solutions, Inc. (NASDAQ:SWKS) in a research report released on Friday morning. The brokerage currently has a $115.00 target price on the semiconductor manufacturer’s stock.
Several other equities analysts have also recently issued reports on the stock. Zacks Investment Research upgraded shares of Skyworks Solutions from a hold rating to a buy rating and set a $114.00 target price for the company in a research note on Tuesday, April 11th. Mizuho reiterated a buy rating on shares of Skyworks Solutions in a research note on Friday, April 28th. Charter Equity reiterated a buy rating on shares of Skyworks Solutions in a research note on Saturday, April 29th. Craig Hallum boosted their target price on shares of Skyworks Solutions from $110.00 to $120.00 and gave the company a buy rating in a research note on Friday, April 28th. Finally, Pacific Crest reiterated an overweight rating on shares of Skyworks Solutions in a research note on Monday, April 24th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, twenty-two have assigned a buy rating and two have issued a strong buy rating to the stock. Skyworks Solutions presently has an average rating of Buy and an average price target of $109.28.
Shares of Skyworks Solutions (NASDAQ SWKS) opened at 102.55 on Friday. The stock has a market capitalization of $18.84 billion, a PE ratio of 19.68 and a beta of 0.82. Skyworks Solutions has a 52 week low of $65.14 and a 52 week high of $112.11. The stock has a 50 day moving average of $102.48 and a 200-day moving average of $99.30.
Skyworks Solutions (NASDAQ:SWKS) last posted its earnings results on Thursday, July 20th. The semiconductor manufacturer reported $1.57 earnings per share (EPS) for the quarter, beating the 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 firm had revenue of $900.80 million during the quarter, compared to analysts’ expectations of $890.58 million. During the same period in the previous year, the business posted $1.24 EPS. The business’s revenue was up 19.8% compared to the same quarter last year. On average, equities research analysts expect that Skyworks Solutions will post $6.39 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 29th. Investors of record on Tuesday, August 8th will be issued a $0.32 dividend. The ex-dividend date of this dividend is Friday, August 4th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.25%. This is a positive change from Skyworks Solutions’s previous quarterly dividend of $0.28. Skyworks Solutions’s dividend payout ratio is currently 24.57%.
In related news, insider Liam Griffin sold 8,056 shares of the company’s stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $105.31, for a total value of $848,377.36. Following the completion of the sale, the insider now owns 54,310 shares of the company’s stock, valued at $5,719,386.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Christine King sold 3,500 shares of the company’s stock in a transaction dated Monday, June 5th. The shares were 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 directly owns 16,436 shares of the company’s stock, valued at approximately $1,788,894.24. The disclosure for this sale can be found here. Insiders sold 29,806 shares of company stock valued at $3,088,627 in the last three months. 0.49% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Quotient Investors LLC bought a new position in Skyworks Solutions during the first quarter worth approximately $764,000. Barometer Capital Management Inc. bought a new position in Skyworks Solutions during the first quarter worth approximately $4,341,000. DnB Asset Management AS boosted its position in Skyworks Solutions by 17.5% in the first quarter. DnB Asset Management AS now owns 21,516 shares of the semiconductor manufacturer’s stock worth $2,108,000 after buying an additional 3,200 shares during the last quarter. Gateway Investment Advisers LLC boosted its position in Skyworks Solutions by 4.5% in the first quarter. Gateway Investment Advisers LLC now owns 165,993 shares of the semiconductor manufacturer’s stock worth $16,264,000 after buying an additional 7,112 shares during the last quarter. Finally, Cim LLC boosted its position in Skyworks Solutions by 3.6% in the first quarter. Cim LLC now owns 6,118 shares of the semiconductor manufacturer’s stock worth $599,000 after buying an additional 215 shares during the last quarter. 81.19% of the stock is currently owned by institutional investors.
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.
Receive News & Ratings for Skyworks Solutions Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Skyworks Solutions Inc. and related companies with MarketBeat.com's FREE daily email newsletter.