Zacks Investment Research upgraded shares of Skyworks Solutions, Inc. (NASDAQ:SWKS) from a sell rating to a hold rating in a research report report published on Friday.
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.”
Several other equities analysts have also weighed in on SWKS. BidaskClub upgraded shares of Skyworks Solutions from a buy rating to a strong-buy rating in a report on Sunday, July 16th. Vetr lowered shares of Skyworks Solutions from a strong-buy rating to a buy rating and set a $116.12 target price on the stock. in a report on Monday, July 17th. B. Riley reiterated a buy rating and issued a $120.00 target price on shares of Skyworks Solutions in a report on Monday, July 17th. Mizuho boosted their target price on shares of Skyworks Solutions from $115.00 to $120.00 and gave the company a buy rating in a report on Friday, July 21st. Finally, Craig Hallum boosted their target price 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. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. Skyworks Solutions currently has an average rating of Buy and an average price target of $115.68.
Skyworks Solutions (NASDAQ:SWKS) opened at $110.37 on Friday. The firm has a market cap of $20,286.74, a PE ratio of 18.34, a price-to-earnings-growth ratio of 1.09 and a beta of 0.90. Skyworks Solutions has a fifty-two week low of $71.65 and a fifty-two week high of $117.65.
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The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 12th. Stockholders of record on Tuesday, November 21st will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend is Monday, November 20th. Skyworks Solutions’s payout ratio is 23.66%.
In other news, Director Christine King sold 3,705 shares of the company’s stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $106.82, for a total value of $395,768.10. Following the completion of the transaction, the director now owns 16,641 shares in the company, valued at approximately $1,777,591.62. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Liam Griffin sold 2,610 shares of the company’s stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $99.98, for a total transaction of $260,947.80. Following the completion of the transaction, the insider now owns 50,408 shares of the company’s stock, valued at approximately $5,039,791.84. The disclosure for this sale can be found here. In the last 90 days, insiders sold 20,173 shares of company stock valued at $2,072,726. Company insiders own 0.49% of the company’s stock.
A number of large investors have recently modified their holdings of the stock. Girard Partners LTD. boosted its stake in Skyworks Solutions by 0.3% during the 2nd quarter. Girard Partners LTD. now owns 5,819 shares of the semiconductor manufacturer’s stock worth $558,000 after purchasing an additional 16 shares during the period. Cadence Capital Management LLC boosted its stake in Skyworks Solutions by 0.3% during the 2nd quarter. Cadence Capital Management LLC now owns 7,687 shares of the semiconductor manufacturer’s stock worth $738,000 after purchasing an additional 21 shares during the period. Winslow Evans & Crocker Inc. boosted its stake 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 purchasing an additional 35 shares during the period. Montag A & Associates Inc. boosted its stake in Skyworks Solutions by 0.5% during the 2nd quarter. Montag A & Associates Inc. now owns 9,108 shares of the semiconductor manufacturer’s stock worth $874,000 after purchasing an additional 41 shares during the period. Finally, Krilogy Financial LLC boosted its stake in Skyworks Solutions by 1.9% during the 2nd quarter. Krilogy Financial LLC now owns 2,726 shares of the semiconductor manufacturer’s stock worth $262,000 after purchasing an additional 50 shares during the period. Hedge funds and other institutional investors own 80.58% of the company’s stock.
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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