Zacks Investment Research upgraded shares of Skyworks Solutions, Inc. (NASDAQ:SWKS) from a hold rating to a buy rating in a report released on Monday, September 11th. Zacks Investment Research currently has $117.00 target price on the semiconductor manufacturer’s stock.
According to Zacks, “Skyworks has outperformed the industry on a year-to-date basis. The company is gaining from strong demand for its Wi-Fi, Zigbee and LTE solutions. Further, strategic design wins in IoT, automotive and 5G markets are significant positives for the company in the long haul. The upcoming launch of iPhone 8 is a key catalyst for the company. However, heavy investments in R&D and escalating operating expenses are affecting margins, which is a headwind.”
Several other equities analysts have also recently commented on SWKS. Vetr cut shares of Skyworks Solutions from a buy rating to a hold rating and set a $110.24 price target on the stock. in a research report on Wednesday, June 7th. Barclays PLC reaffirmed an overweight rating on shares of Skyworks Solutions in a research report on Friday, July 21st. Mizuho increased their price target on shares of Skyworks Solutions from $115.00 to $120.00 and gave the stock a buy rating in a research report on Friday, July 21st. Craig Hallum increased their price objective on shares of Skyworks Solutions from $120.00 to $125.00 and gave the stock a buy rating in a research note on Friday, July 21st. Finally, Cowen and Company reiterated a market perform rating and set a $110.00 price objective on shares of Skyworks Solutions in a research note on Friday, July 21st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of Buy and an average target price of $111.82.
Skyworks Solutions (SWKS) traded up 1.07% on Monday, hitting $103.22. The stock had a trading volume of 727,804 shares. The company has a 50 day moving average price of $104.54 and a 200-day moving average price of $102.42. The company has a market cap of $18.97 billion, a price-to-earnings ratio of 19.81 and a beta of 0.81. Skyworks Solutions has a 52-week low of $71.65 and a 52-week high of $112.11.
Skyworks Solutions (NASDAQ:SWKS) last released its quarterly earnings data on Thursday, July 20th. The semiconductor manufacturer reported $1.57 EPS for the quarter, topping analysts’ consensus estimates of $1.52 by $0.05. Skyworks Solutions had a return on equity of 28.67% and a net margin of 27.86%. The business had revenue of $900.80 million during the quarter, compared to the consensus estimate of $890.58 million. During the same period in the prior year, the firm posted $1.24 EPS. The business’s revenue for the quarter was up 19.8% on a year-over-year basis. On average, equities research analysts predict that Skyworks Solutions will post $6.39 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 29th. Stockholders of record on Tuesday, August 8th were issued a dividend of $0.32 per share. The ex-dividend date was Friday, August 4th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.25%. This is an increase from Skyworks Solutions’s previous quarterly dividend of $0.28. Skyworks Solutions’s dividend payout ratio (DPR) is currently 24.57%.
In related news, insider Liam Griffin sold 8,056 shares of Skyworks Solutions stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $105.31, for a total value of $848,377.36. Following the transaction, the insider now owns 54,310 shares in the company, valued at approximately $5,719,386.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Christine King sold 3,705 shares of Skyworks Solutions stock in a transaction on 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 approximately $1,777,591.62. The disclosure for this sale can be found here. Insiders have sold a total of 14,371 shares of company stock worth $1,505,093 in the last 90 days. 0.49% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Girard Partners LTD. grew its position in Skyworks Solutions by 0.3% in 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 last quarter. Cadence Capital Management LLC grew its position in Skyworks Solutions by 0.3% in 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 last quarter. Winslow Evans & Crocker Inc. grew 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 worth $104,000 after purchasing an additional 35 shares during the last quarter. Montag A & Associates Inc. grew its position in Skyworks Solutions by 0.5% in 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 last quarter. Finally, Cleararc Capital Inc. grew its position in Skyworks Solutions by 1.1% in the 1st quarter. Cleararc Capital Inc. now owns 4,544 shares of the semiconductor manufacturer’s stock worth $445,000 after purchasing an additional 50 shares during the last quarter. Institutional investors own 80.84% 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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