Skyworks Solutions (SWKS) Upgraded at BidaskClub
SWKS has been the subject of several other research reports. TheStreet upgraded Skyworks Solutions from a c+ rating to a b- rating in a research report on Wednesday, February 27th. Zacks Investment Research cut Skyworks Solutions from a hold rating to a sell rating in a research report on Monday, March 25th. B. Riley reiterated a neutral rating and issued a $80.00 price objective (down previously from $89.00) on shares of Skyworks Solutions in a research report on Wednesday, January 9th. ValuEngine upgraded Skyworks Solutions from a sell rating to a hold rating in a research report on Thursday, February 7th. Finally, Morgan Stanley cut their price objective on Skyworks Solutions from $74.00 to $71.00 and set an equal weight rating for the company in a research report on Monday, January 7th. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have given a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $93.00.
NASDAQ:SWKS opened at $90.28 on Friday. The firm has a market capitalization of $15.62 billion, a price-to-earnings ratio of 13.62, a price-to-earnings-growth ratio of 1.34 and a beta of 0.68. Skyworks Solutions has a 1 year low of $60.12 and a 1 year high of $104.20.
Skyworks Solutions declared that its Board of Directors has authorized a share repurchase plan on Tuesday, February 5th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the semiconductor manufacturer to reacquire up to 15.4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.
The company also recently declared a quarterly dividend, which was paid on Tuesday, March 19th. Stockholders of record on Tuesday, February 26th were given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date of this dividend was Monday, February 25th. Skyworks Solutions’s dividend payout ratio is currently 22.93%.
In related news, insider Liam Griffin sold 19,083 shares of the stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $85.12, for a total transaction of $1,624,344.96. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Peter L. Gammel sold 2,652 shares of the stock in a transaction on Wednesday, January 16th. The shares were sold at an average price of $68.45, for a total value of $181,529.40. Following the sale, the chief technology officer now directly owns 15,123 shares in the company, valued at approximately $1,035,169.35. The disclosure for this sale can be found here. In the last 90 days, insiders sold 64,501 shares of company stock valued at $5,505,448. Company insiders own 0.64% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. boosted its stake in shares of Skyworks Solutions by 3.0% during the fourth quarter. BlackRock Inc. now owns 13,271,115 shares of the semiconductor manufacturer’s stock valued at $889,431,000 after acquiring an additional 385,052 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its stake in shares of Skyworks Solutions by 6,143.7% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 2,733,478 shares of the semiconductor manufacturer’s stock valued at $41,000 after acquiring an additional 2,689,698 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Skyworks Solutions by 9.9% during the fourth quarter. Geode Capital Management LLC now owns 2,693,315 shares of the semiconductor manufacturer’s stock valued at $180,234,000 after acquiring an additional 242,983 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Skyworks Solutions by 6.1% during the fourth quarter. Northern Trust Corp now owns 2,441,004 shares of the semiconductor manufacturer’s stock valued at $163,596,000 after acquiring an additional 139,555 shares during the last quarter. Finally, LSV Asset Management boosted its stake in shares of Skyworks Solutions by 30.1% during the fourth quarter. LSV Asset Management now owns 2,410,600 shares of the semiconductor manufacturer’s stock valued at $161,558,000 after acquiring an additional 558,200 shares during the last quarter. 82.53% of the stock is currently owned by institutional investors and hedge funds.
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, antenna tuners, 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 locked loops, phase shifters, power dividers/combiners, receivers, switches, synthesizers, technical ceramics, voltage controlled oscillators/synthesizers, and voltage regulators.
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