Zacks Investment Research upgraded shares of Skyworks Solutions (NASDAQ:SWKS) from a sell rating to a hold rating in a research note released on Friday, November 10th.
According to Zacks, “Skyworks ended fiscal 2017 on a strong note. The company reported impressive fourth-quarter results as both earnings and revenues increased on a year-over-year basis. The strong results reflected the company’s growing clout in the connectivity solutions and 5G market. The emergence of connected homes, autonomous vehicles, artificial intelligence (AI), augmented reality, wearables and network infrastructure presents significant growth opportunity for Skyworks’ connectivity solutions. We note that Skyworks has outperformed the broader market on a year-to-date basis. However, heavy investments in research & development are escalating operating expenses, which will continue to drag down margins. Moreover, significant pricing pressure and high concentration risks are other headwinds.”
SWKS has been the subject of several other reports. Vetr raised shares of Skyworks Solutions from a hold rating to a buy rating and set a $118.57 price objective for the company in a report on Tuesday, November 7th. Craig Hallum boosted their price objective on shares of Skyworks Solutions from $120.00 to $125.00 and gave the company a buy rating in a report on Friday, July 21st. Barclays boosted their price objective on shares of Skyworks Solutions from $110.00 to $120.00 and gave the company an overweight rating in a report on Wednesday, October 18th. DA Davidson reissued a buy rating and set a $130.00 price objective on shares of Skyworks Solutions in a report on Tuesday, November 7th. Finally, Canaccord Genuity restated a buy rating and set a $117.00 target price (up from $115.00) on shares of Skyworks Solutions in a research report on Saturday, July 22nd. One research analyst has rated the stock with a sell rating, six have given a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $115.68.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 12th. Stockholders of record on Tuesday, November 21st will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.22%. The ex-dividend date of this dividend is Monday, November 20th. Skyworks Solutions’s dividend payout ratio is currently 23.66%.
In other news, SVP Carlos S. Bori sold 3,745 shares of the company’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $109.53, for a total value of $410,189.85. Following the transaction, the senior vice president now directly owns 14,723 shares in the company, valued at $1,612,610.19. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Christine King sold 3,705 shares of the company’s stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $106.82, for a total transaction of $395,768.10. Following the completion of the transaction, the director now owns 16,641 shares in the company, valued at $1,777,591.62. The disclosure for this sale can be found here. In the last three months, insiders sold 137,479 shares of company stock worth $14,994,846. Insiders own 0.49% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Winslow Evans & Crocker Inc. grew its holdings in Skyworks Solutions by 3.3% during the 2nd quarter. Winslow Evans & Crocker Inc. now owns 1,085 shares of the semiconductor manufacturer’s stock worth $104,000 after acquiring an additional 35 shares in the last quarter. Financial Engines Advisors L.L.C. bought a new position in Skyworks Solutions during the 3rd quarter worth about $126,000. WFG Advisors LP grew its holdings in Skyworks Solutions by 14.8% during the 2nd quarter. WFG Advisors LP now owns 1,326 shares of the semiconductor manufacturer’s stock worth $127,000 after acquiring an additional 171 shares in the last quarter. Sun Life Financial INC grew its holdings in Skyworks Solutions by 551.5% during the 2nd quarter. Sun Life Financial INC now owns 1,342 shares of the semiconductor manufacturer’s stock worth $129,000 after acquiring an additional 1,136 shares in the last quarter. Finally, Dubuque Bank & Trust Co. bought a new position in Skyworks Solutions during the 2nd quarter worth about $182,000. Hedge funds and other institutional investors own 81.94% of the company’s stock.
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Skyworks Solutions Company Profile
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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