Skyworks Solutions (NASDAQ:SWKS) Trading 5.2% Higher

Skyworks Solutions Inc (NASDAQ:SWKS)’s stock price traded up 5.2% during mid-day trading on Thursday . The stock traded as high as $85.49 and last traded at $84.89, 2,819,237 shares changed hands during trading. An increase of 42% from the average session volume of 1,985,448 shares. The stock had previously closed at $80.71.

Several research analysts recently issued reports on the company. Cowen raised Skyworks Solutions from a “market perform” rating to an “outperform” rating and upped their target price for the company from $80.00 to $95.00 in a research report on Thursday. Charter Equity reissued a “hold” rating on shares of Skyworks Solutions in a report on Monday, August 12th. Craig Hallum increased their price objective on Skyworks Solutions from $85.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Benchmark started coverage on Skyworks Solutions in a report on Friday, September 20th. They issued a “buy” rating and a $94.00 price objective on the stock. Finally, Canaccord Genuity cut their price objective on Skyworks Solutions from $83.00 to $82.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Three research analysts have rated the stock with a sell rating, sixteen have given a hold rating and fourteen have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $87.21.

The stock has a market cap of $13.86 billion, a PE ratio of 13.15, a P/E/G ratio of 1.70 and a beta of 1.04. The business has a 50 day moving average price of $78.58 and a 200 day moving average price of $79.46.

Skyworks Solutions (NASDAQ:SWKS) last issued its earnings results on Wednesday, August 7th. The semiconductor manufacturer reported $1.35 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.14. Skyworks Solutions had a return on equity of 26.60% and a net margin of 26.10%. The firm had revenue of $767.00 million for the quarter, compared to the consensus estimate of $767.71 million. During the same quarter in the prior year, the business earned $1.64 earnings per share. The company’s revenue was down 14.2% compared to the same quarter last year. As a group, equities analysts predict that Skyworks Solutions Inc will post 5.72 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, August 27th were paid a $0.44 dividend. This is an increase from Skyworks Solutions’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Monday, August 26th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.06%. Skyworks Solutions’s dividend payout ratio is presently 26.55%.

In other Skyworks Solutions news, SVP Robert John Terry sold 3,250 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $79.68, for a total transaction of $258,960.00. Following the transaction, the senior vice president now owns 15,326 shares in the company, valued at $1,221,175.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David J. Aldrich sold 5,000 shares of the stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $81.85, for a total value of $409,250.00. Following the transaction, the director now owns 208,032 shares in the company, valued at approximately $17,027,419.20. The disclosure for this sale can be found here. Insiders sold 32,749 shares of company stock worth $2,701,484 in the last 90 days. Company insiders own 0.64% of the company’s stock.

Hedge funds have recently modified their holdings of the business. Orrstown Financial Services Inc. lifted its position in shares of Skyworks Solutions by 9.0% in the third quarter. Orrstown Financial Services Inc. now owns 1,633 shares of the semiconductor manufacturer’s stock valued at $123,000 after acquiring an additional 135 shares in the last quarter. Parallel Advisors LLC lifted its position in shares of Skyworks Solutions by 10.1% in the second quarter. Parallel Advisors LLC now owns 1,482 shares of the semiconductor manufacturer’s stock valued at $115,000 after acquiring an additional 136 shares in the last quarter. Cerebellum GP LLC lifted its position in shares of Skyworks Solutions by 3.9% in the first quarter. Cerebellum GP LLC now owns 3,916 shares of the semiconductor manufacturer’s stock valued at $323,000 after acquiring an additional 146 shares in the last quarter. Rowland & Co. Investment Counsel ADV lifted its position in shares of Skyworks Solutions by 1.1% in the third quarter. Rowland & Co. Investment Counsel ADV now owns 13,443 shares of the semiconductor manufacturer’s stock valued at $1,062,000 after acquiring an additional 150 shares in the last quarter. Finally, MML Investors Services LLC lifted its position in shares of Skyworks Solutions by 2.3% in the second quarter. MML Investors Services LLC now owns 7,344 shares of the semiconductor manufacturer’s stock valued at $567,000 after acquiring an additional 168 shares in the last quarter. Institutional investors own 80.55% of the company’s stock.

Skyworks Solutions Company Profile (NASDAQ:SWKS)

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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