Zacks Investment Research upgraded shares of Skyworks Solutions, Inc. (NASDAQ:SWKS) from a sell rating to a hold rating in a research note published 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.”
Other research analysts have also recently issued reports about the company. Bank of America Corporation raised their target price on Skyworks Solutions from $120.00 to $125.00 in a research report on Tuesday, November 7th. B. Riley reaffirmed a buy rating and set a $120.00 price objective on shares of Skyworks Solutions in a research report on Monday, July 17th. Vetr cut Skyworks Solutions from a strong-buy rating to a buy rating and set a $116.12 price objective on the stock. in a research report on Monday, July 17th. Craig Hallum lifted their target price on Skyworks Solutions from $120.00 to $125.00 and gave the company a buy rating in a research note on Friday, July 21st. Finally, Mizuho lifted their target price on Skyworks Solutions from $115.00 to $120.00 and gave the company a buy rating in a research note on Friday, July 21st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of Buy and a consensus price target of $115.68.
Shares of Skyworks Solutions (NASDAQ SWKS) opened at $108.54 on Friday. The company has a market capitalization of $19,940.00, a PE ratio of 18.31, a P/E/G ratio of 1.09 and a beta of 0.90. Skyworks Solutions has a twelve month low of $71.65 and a twelve month high of $117.65.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 12th. Shareholders of record on Tuesday, November 21st will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Monday, November 20th. This represents a $1.28 annualized dividend and a yield of 1.18%. Skyworks Solutions’s dividend payout ratio (DPR) is 23.66%.
In other Skyworks Solutions news, insider Liam Griffin sold 2,610 shares of Skyworks Solutions stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $99.98, for a total transaction of $260,947.80. Following the completion of the sale, the insider now directly owns 50,408 shares of the company’s stock, valued at approximately $5,039,791.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman David J. Aldrich sold 45,000 shares of Skyworks Solutions stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $110.08, for a total value of $4,953,600.00. Following the sale, the chairman now directly owns 184,842 shares of the company’s stock, valued at $20,347,407.36. The disclosure for this sale can be found here. Insiders sold 120,094 shares of company stock valued at $13,065,904 over the last ninety days. Insiders own 0.49% of the company’s stock.
A number of hedge funds have recently modified their holdings of SWKS. Winslow Evans & Crocker Inc. increased its position in Skyworks Solutions by 3.3% in the 2nd quarter. Winslow Evans & Crocker Inc. now owns 1,085 shares of the semiconductor manufacturer’s stock valued at $104,000 after acquiring an additional 35 shares during the period. Financial Engines Advisors L.L.C. acquired a new position in Skyworks Solutions in the 3rd quarter valued at about $126,000. WFG Advisors LP increased its position in Skyworks Solutions by 14.8% in the 2nd quarter. WFG Advisors LP now owns 1,326 shares of the semiconductor manufacturer’s stock valued at $127,000 after acquiring an additional 171 shares during the period. Sun Life Financial INC increased its position in Skyworks Solutions by 551.5% in the 2nd quarter. Sun Life Financial INC now owns 1,342 shares of the semiconductor manufacturer’s stock valued at $129,000 after acquiring an additional 1,136 shares during the period. Finally, Dubuque Bank & Trust Co. acquired a new position in Skyworks Solutions in the 2nd quarter valued at about $182,000. Hedge funds and other institutional investors own 80.00% 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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