Skyworks Solutions Inc (NASDAQ:SWKS) had its price target upped by Barclays PLC from $100.00 to $110.00 in a research note released on Tuesday, April 18th. The firm currently has an overweight rating on the semiconductor manufacturer’s stock.
Other equities analysts have also issued research reports about the company. Brean Capital lifted their price objective on Skyworks Solutions to $95.00 in a research note on Friday, January 20th. Needham & Company LLC lifted their price objective on Skyworks Solutions to $92.00 in a research note on Friday, January 20th. Zacks Investment Research upgraded Skyworks Solutions from a hold rating to a buy rating and set a $89.00 price objective for the company in a research note on Friday, January 20th. Canaccord Genuity lifted their price objective on Skyworks Solutions from $92.00 to $96.00 and gave the company a buy rating in a research note on Friday, January 20th. Finally, Vetr lowered Skyworks Solutions from a strong-buy rating to a buy rating and set a $85.81 price target for the company. in a research note on Wednesday, January 11th. Two analysts have rated the stock with a sell rating, five have given a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the stock. Skyworks Solutions currently has an average rating of Buy and an average target price of $100.60.
Skyworks Solutions (NASDAQ:SWKS) traded up 0.65% on Tuesday, hitting $103.87. The stock had a trading volume of 1,236,611 shares. The company has a market capitalization of $19.17 billion, a price-to-earnings ratio of 21.41 and a beta of 0.88. Skyworks Solutions has a 52 week low of $57.11 and a 52 week high of $105.51. The firm has a 50-day moving average of $100.94 and a 200 day moving average of $89.05.
Skyworks Solutions (NASDAQ:SWKS) last released its quarterly earnings data on Thursday, April 27th. The semiconductor manufacturer reported $1.33 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.30 by $0.03. The business had revenue of $851.70 million during the quarter, compared to analyst estimates of $840.43 million. Skyworks Solutions had a return on equity of 27.80% and a net margin of 27.40%. The company’s revenue was up 9.9% on a year-over-year basis. During the same quarter last year, the business posted $1.25 EPS. On average, analysts predict that Skyworks Solutions will post $6.32 earnings per share for the current year.
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The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 6th. Investors of record on Tuesday, May 16th will be issued a dividend of $0.28 per share. The ex-dividend date is Friday, May 12th. This represents a $1.12 annualized dividend and a yield of 1.09%. Skyworks Solutions’s dividend payout ratio is currently 23.63%.
In other Skyworks Solutions news, insider Liam Griffin sold 18,250 shares of the stock in a transaction dated Thursday, May 11th. The shares were sold at an average price of $101.88, for a total value of $1,859,310.00. Following the completion of the transaction, the insider now directly owns 64,466 shares of the company’s stock, valued at $6,567,796.08. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Peter L. Gammel sold 1,500 shares of the stock in a transaction dated Monday, April 17th. The shares were sold at an average price of $97.92, for a total transaction of $146,880.00. Following the completion of the transaction, the insider now directly owns 17,605 shares of the company’s stock, valued at $1,723,881.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 91,458 shares of company stock valued at $9,278,031. 0.62% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in SWKS. Bank of Nova Scotia raised its stake in shares of Skyworks Solutions by 920.7% in the first quarter. Bank of Nova Scotia now owns 42,308 shares of the semiconductor manufacturer’s stock worth $4,145,000 after buying an additional 38,163 shares during the period. Meridian Wealth Management LLC bought a new position in shares of Skyworks Solutions during the first quarter worth $230,000. Green Square Capital LLC raised its position in shares of Skyworks Solutions by 12.0% in the first quarter. Green Square Capital LLC now owns 15,409 shares of the semiconductor manufacturer’s stock worth $1,510,000 after buying an additional 1,657 shares during the period. Provident Investment Management Inc. raised its position in shares of Skyworks Solutions by 1.3% in the first quarter. Provident Investment Management Inc. now owns 295,098 shares of the semiconductor manufacturer’s stock worth $28,914,000 after buying an additional 3,876 shares during the period. Finally, First Financial Equity Corporation bought a new position in shares of Skyworks Solutions during the first quarter worth $415,000. Hedge funds and other institutional investors own 82.29% of the company’s stock.
About Skyworks Solutions
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.
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