BidaskClub upgraded shares of Skyworks Solutions (NASDAQ:SWKS) from a sell rating to a hold rating in a research report released on Saturday morning, BidAskClub reports.
A number of other research firms also recently issued reports on SWKS. BMO Capital Markets cut their price objective on shares of Skyworks Solutions from $105.00 to $100.00 and set an outperform rating for the company in a report on Thursday, August 8th. Zacks Investment Research downgraded Skyworks Solutions from a hold rating to a sell rating and set a $85.00 price target on the stock. in a research report on Wednesday, August 7th. Mizuho lowered their price objective on Skyworks Solutions from $89.00 to $75.00 and set a neutral rating on the stock in a research note on Wednesday, June 5th. B. Riley lowered their price objective on Skyworks Solutions from $110.00 to $95.00 and set a buy rating on the stock in a research note on Wednesday, June 5th. Finally, Piper Jaffray Companies dropped their price objective on Skyworks Solutions from $100.00 to $90.00 and set an overweight rating for the company in a report on Wednesday, June 5th. Three research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and eleven have assigned a buy rating to the company’s stock. Skyworks Solutions currently has an average rating of Hold and an average target price of $86.40.
SWKS stock opened at $80.30 on Friday. Skyworks Solutions has a fifty-two week low of $60.12 and a fifty-two week high of $94.39. The stock has a market capitalization of $13.79 billion, a price-to-earnings ratio of 12.11, a PEG ratio of 1.70 and a beta of 1.02. The business’s fifty day moving average price is $78.68 and its two-hundred day moving average price is $79.74.
Skyworks Solutions (NASDAQ:SWKS) last announced its earnings results on Wednesday, August 7th. The semiconductor manufacturer reported $1.35 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.21 by $0.14. Skyworks Solutions had a net margin of 26.10% and a return on equity of 26.60%. The company had revenue of $767.00 million during the quarter, compared to analysts’ expectations of $767.71 million. During the same quarter in the previous year, the business posted $1.64 earnings per share. Skyworks Solutions’s quarterly revenue was down 14.2% on a year-over-year basis. Equities research analysts expect that Skyworks Solutions will post 5.72 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, August 27th will be given a dividend of $0.44 per share. This is an increase from Skyworks Solutions’s previous quarterly dividend of $0.38. This represents a $1.76 annualized dividend and a dividend yield of 2.19%. The ex-dividend date of this dividend is Monday, August 26th. Skyworks Solutions’s dividend payout ratio is currently 26.55%.
In related news, Director David J. Aldrich sold 999 shares of Skyworks Solutions stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $76.45, for a total transaction of $76,373.55. Following the sale, the director now directly owns 204,031 shares of the company’s stock, valued at approximately $15,598,169.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Timothy R. Furey sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $73.51, for a total transaction of $183,775.00. Following the transaction, the director now owns 24,324 shares of the company’s stock, valued at $1,788,057.24. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 48,499 shares of company stock valued at $3,896,149. 0.64% of the stock is owned by corporate insiders.
A number of institutional investors have recently modified their holdings of the business. Next Capital Management LLC boosted its position in Skyworks Solutions by 118.7% during the 2nd quarter. Next Capital Management LLC now owns 339 shares of the semiconductor manufacturer’s stock worth $26,000 after buying an additional 184 shares during the period. Cribstone Capital Management LLC bought a new position in shares of Skyworks Solutions during the second quarter valued at $37,000. Stonebridge Capital Advisors LLC acquired a new position in shares of Skyworks Solutions during the second quarter worth $37,000. Griffin Asset Management Inc. acquired a new position in shares of Skyworks Solutions during the second quarter worth $42,000. Finally, Accurate Investment Solutions Inc. lifted its holdings in shares of Skyworks Solutions by 42.5% during the second quarter. Accurate Investment Solutions Inc. now owns 580 shares of the semiconductor manufacturer’s stock worth $45,000 after purchasing an additional 173 shares during the period. Hedge funds and other institutional investors own 80.66% of the company’s stock.
About Skyworks Solutions
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.
Featured Story: What is a stock split?
Receive News & Ratings for Skyworks Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Skyworks Solutions and related companies with MarketBeat.com's FREE daily email newsletter.