Pacific Crest Reiterates Equal Weight Rating for Skyworks Solutions Inc. (SWKS)
Skyworks Solutions Inc. (NASDAQ:SWKS)‘s stock had its “equal weight” rating reiterated by Pacific Crest in a report issued on Thursday.
Other equities analysts have also recently issued research reports about the company. B. Riley reiterated a “buy” rating and issued a $93.00 price objective on shares of Skyworks Solutions in a research note on Monday, July 25th. Oppenheimer Holdings Inc. reiterated an “outperform” rating and issued a $100.00 price objective on shares of Skyworks Solutions in a research note on Friday, July 15th. BMO Capital Markets reiterated a “market perform” rating and issued a $69.00 price objective on shares of Skyworks Solutions in a research note on Tuesday, May 31st. Credit Agricole SA upgraded Skyworks Solutions from an “underperform” rating to an “outperform” rating and lifted their price objective for the company from $73.00 to $77.00 in a research note on Tuesday, August 9th. Finally, Mizuho cut Skyworks Solutions from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $99.00 to $68.00 in a research note on Friday, July 1st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Skyworks Solutions has an average rating of “Buy” and a consensus target price of $83.04.
Skyworks Solutions (NASDAQ:SWKS) opened at 76.07 on Thursday. The stock’s 50 day moving average is $69.82 and its 200 day moving average is $69.06. The firm has a market cap of $14.26 billion, a P/E ratio of 15.07 and a beta of 1.15. Skyworks Solutions has a 12-month low of $54.50 and a 12-month high of $92.63.
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. The firm earned $751.70 million during the quarter, compared to the consensus estimate of $750.22 million. Skyworks Solutions had a return on equity of 29.31% and a net margin of 29.32%. On average, equities research analysts expect that Skyworks Solutions will post $5.53 EPS for the current year.
The company also recently announced 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. This represents a $1.12 dividend on an annualized basis and a yield of 1.47%. This is an increase from Skyworks Solutions’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Tuesday, August 2nd. Skyworks Solutions’s payout ratio is presently 22.18%.
In other news, Director Timothy R. Furey sold 5,000 shares of the company’s stock in a transaction on Thursday, September 1st. The stock was sold at an average price of $74.87, for a total value of $374,350.00. Following the sale, the director now directly owns 34,947 shares in the company, valued at $2,616,481.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Bruce J. Freyman sold 3,221 shares of the company’s stock in a transaction on Monday, August 29th. The shares were sold at an average price of $75.00, for a total value of $241,575.00. The disclosure for this sale can be found here. Company insiders own 0.62% of the company’s stock.
Several hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP increased its stake in shares of Skyworks Solutions by 220.3% in the first quarter. Wellington Management Group LLP now owns 6,231,589 shares of the semiconductor manufacturer’s stock valued at $485,441,000 after buying an additional 4,286,283 shares in the last quarter. Capital Research Global Investors increased its stake in shares of Skyworks Solutions by 18.9% in the second quarter. Capital Research Global Investors now owns 23,273,661 shares of the semiconductor manufacturer’s stock valued at $1,472,757,000 after buying an additional 3,692,877 shares in the last quarter. Norges Bank bought a new stake in shares of Skyworks Solutions during the fourth quarter valued at about $129,236,000. Villere ST Denis J & Co. LLC bought a new stake in shares of Skyworks Solutions during the second quarter valued at about $66,184,000. Finally, JPMorgan Chase & Co. increased its stake in shares of Skyworks Solutions by 568.4% in the first quarter. JPMorgan Chase & Co. now owns 849,066 shares of the semiconductor manufacturer’s stock valued at $66,142,000 after buying an additional 1,030,325 shares in the last quarter. Institutional investors and hedge funds own 76.67% of the company’s stock.
About Skyworks Solutions
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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