Oppenheimer Holdings Inc. Reiterates “Outperform” Rating for Skyworks Solutions Inc. (SWKS)
Skyworks Solutions Inc. (NASDAQ:SWKS)‘s stock had its “outperform” rating restated by Oppenheimer Holdings Inc. in a research report issued to clients and investors on Friday. They presently have a $100.00 target price on the semiconductor manufacturer’s stock. Oppenheimer Holdings Inc.’s target price points to a potential upside of 31.42% from the company’s previous close.
A number of other equities research analysts have also recently issued reports on the company. Vetr cut Skyworks Solutions from a “buy” rating to a “hold” rating and set a $77.08 price objective for the company. in a report on Thursday, September 15th. Pacific Crest reiterated an “equal weight” rating on shares of Skyworks Solutions in a research note on Thursday, September 15th. Brean Capital reiterated a “buy” rating on shares of Skyworks Solutions in a research note on Tuesday, September 13th. Mizuho reiterated a “neutral” rating and issued a $68.00 price target on shares of Skyworks Solutions in a research note on Wednesday, August 31st. Finally, Drexel Hamilton reiterated a “buy” rating and issued a $90.00 price target on shares of Skyworks Solutions in a research note on Tuesday, August 30th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $83.04.
Shares of Skyworks Solutions (NASDAQ:SWKS) opened at 76.09 on Friday. Skyworks Solutions has a 12-month low of $54.50 and a 12-month high of $89.72. The firm has a market capitalization of $14.27 billion, a PE ratio of 15.07 and a beta of 1.15. The company’s 50-day moving average price is $70.87 and its 200-day moving average price is $69.25.
Skyworks Solutions (NASDAQ:SWKS) last issued its quarterly earnings data on Thursday, July 21st. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.03. Skyworks Solutions had a return on equity of 29.31% and a net margin of 29.32%. The company earned $751.70 million during the quarter, compared to analysts’ expectations of $750.22 million. Analysts anticipate that Skyworks Solutions will post $5.53 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, August 25th. Shareholders of record on Thursday, August 4th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Tuesday, August 2nd. This represents a $1.12 dividend on an annualized basis and a yield of 1.47%. This is a boost from Skyworks Solutions’s previous quarterly dividend of $0.26. Skyworks Solutions’s dividend payout ratio is 22.18%.
In other news, Director Timothy R. Furey sold 5,000 shares of the stock in a transaction dated Thursday, September 1st. The shares were sold at an average price of $74.87, for a total transaction of $374,350.00. Following the transaction, the director now owns 34,947 shares of the company’s stock, valued at approximately $2,616,481.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Bruce J. Freyman sold 3,221 shares of the stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $75.00, for a total transaction of $241,575.00. The disclosure for this sale can be found here. Company insiders own 0.62% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Fuller & Thaler Asset Management Inc. boosted its position in Skyworks Solutions by 260.0% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 1,800 shares of the semiconductor manufacturer’s stock worth $114,000 after buying an additional 1,300 shares during the period. Bellwether Investment Group LLC bought a new position in Skyworks Solutions during the second quarter worth about $125,000. Synovus Financial Corp boosted its position in Skyworks Solutions by 16.0% in the second quarter. Synovus Financial Corp now owns 2,282 shares of the semiconductor manufacturer’s stock worth $143,000 after buying an additional 315 shares during the period. Checchi Capital Advisers LLC boosted its position in Skyworks Solutions by 39.7% in the second quarter. Checchi Capital Advisers LLC now owns 2,369 shares of the semiconductor manufacturer’s stock worth $150,000 after buying an additional 673 shares during the period. Finally, Mizuho Asset Management Co. Ltd. boosted its position in Skyworks Solutions by 101.5% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,585 shares of the semiconductor manufacturer’s stock worth $164,000 after buying an additional 1,302 shares during the period. 76.67% of the stock is currently owned by institutional investors.
Skyworks Solutions Company Profile
Skyworks Solutions Inc is engaged in the production of analog semiconductors. The Company supports automotive, broadband, wireless infrastructure, energy management, Global Positioning System (GPS), industrial, medical, military, wireless networking, smartphone and tablet applications. The Company’s portfolio includes amplifiers, attenuators, circulators, demodulators, detectors, diodes, directional couplers, front-end modules, hybrids, infrastructure radio frequency (RF) subsystems, isolators, lighting and display solutions, mixers, modulators, optocouplers, optoisolators, phase shifters, phase locked loops (PLLs), synthesizers, voltage controlled oscillator power dividers (VCOs), power dividers/combiners, power management devices, receivers, switches, and technical ceramics.
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