Skyworks Solutions (NASDAQ:SWKS) Reaches New 1-Year Low – Here’s Why

Shares of Skyworks Solutions, Inc. (NASDAQ:SWKS) hit a new 52-week low on Thursday . The company traded as low as $60.01 and last traded at $60.62, with a volume of 453967 shares traded. The stock had previously closed at $64.80.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on SWKS. Citigroup upped their target price on Skyworks Solutions from $72.00 to $84.00 and gave the company a “sell” rating in a report on Friday, January 10th. Bank of America dropped their target price on shares of Skyworks Solutions from $88.00 to $60.00 and set an “underperform” rating for the company in a research report on Thursday, February 6th. Argus cut shares of Skyworks Solutions from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. Needham & Company LLC reissued a “hold” rating on shares of Skyworks Solutions in a research note on Thursday, February 6th. Finally, Stifel Nicolaus cut Skyworks Solutions from a “buy” rating to a “hold” rating and cut their price objective for the company from $105.00 to $62.00 in a research report on Thursday, February 6th. Three analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $83.78.

Skyworks Solutions Stock Down 7.0 %

The company has a fifty day simple moving average of $70.01 and a 200-day simple moving average of $84.18. The company has a quick ratio of 4.73, a current ratio of 5.94 and a debt-to-equity ratio of 0.16. The firm has a market cap of $8.48 billion, a P/E ratio of 16.19, a price-to-earnings-growth ratio of 1.79 and a beta of 1.18.

Skyworks Solutions (NASDAQ:SWKS) last announced its quarterly earnings data on Wednesday, February 5th. The semiconductor manufacturer reported $1.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.26). Skyworks Solutions had a return on equity of 12.60% and a net margin of 13.02%. On average, equities analysts anticipate that Skyworks Solutions, Inc. will post 3.7 earnings per share for the current year.

Skyworks Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, February 24th were given a dividend of $0.70 per share. The ex-dividend date was Monday, February 24th. This represents a $2.80 annualized dividend and a dividend yield of 5.31%. Skyworks Solutions’s dividend payout ratio (DPR) is 85.89%.

Insider Activity

In other news, CEO Philip G. Brace bought 10,000 shares of the stock in a transaction on Tuesday, February 25th. The stock was bought at an average cost of $66.13 per share, for a total transaction of $661,300.00. Following the completion of the purchase, the chief executive officer now directly owns 10,000 shares in the company, valued at approximately $661,300. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On Skyworks Solutions

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Stephens Inc. AR lifted its holdings in Skyworks Solutions by 9.5% in the fourth quarter. Stephens Inc. AR now owns 4,284 shares of the semiconductor manufacturer’s stock valued at $380,000 after acquiring an additional 372 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of Skyworks Solutions by 126.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 102,289 shares of the semiconductor manufacturer’s stock worth $9,047,000 after buying an additional 57,146 shares in the last quarter. Barclays PLC grew its position in shares of Skyworks Solutions by 96.4% in the third quarter. Barclays PLC now owns 1,934,037 shares of the semiconductor manufacturer’s stock valued at $191,023,000 after purchasing an additional 949,407 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Skyworks Solutions in the 4th quarter worth $29,000. Finally, Proficio Capital Partners LLC purchased a new position in Skyworks Solutions during the fourth quarter worth about $2,509,000. 85.43% 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 in the United States, China, South Korea, Taiwan, Europe, the Middle East, Africa, and the rest of Asia-Pacific. Its product portfolio includes amplifiers, antenna tuners, attenuators, automotive tuners and digital radios, DC/DC converters, demodulators, detectors, diodes, wireless analog system on chip products, directional couplers, diversity receive modules, filters, front-end modules, hybrids, light emitting diode drivers, low noise amplifiers, mixers, modulators, optocouplers/optoisolators, phase locked loops, phase shifters, power dividers/combiners, power over ethernet, power isolators, receivers, switches, synthesizers, timing devices, voltage controlled oscillators/synthesizers, and voltage regulators.