Skyworks Solutions, Inc. Expected to Post Q2 2019 Earnings of $1.77 Per Share (SWKS)
Skyworks Solutions, Inc. (NASDAQ:SWKS) – Equities research analysts at B. Riley issued their Q2 2019 earnings per share estimates for Skyworks Solutions in a research note issued on Tuesday. B. Riley analyst C. Ellis forecasts that the semiconductor manufacturer will post earnings of $1.77 per share for the quarter. B. Riley currently has a “Buy” rating and a $128.00 price objective on the stock. B. Riley also issued estimates for Skyworks Solutions’ Q3 2019 earnings at $1.90 EPS and Q4 2019 earnings at $2.19 EPS.
Skyworks Solutions (NASDAQ:SWKS) last issued its quarterly earnings results on Monday, November 6th. The semiconductor manufacturer reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.64 by $0.05. Skyworks Solutions had a net margin of 21.72% and a return on equity of 30.21%. The firm had revenue of $984.60 million for the quarter, compared to analyst estimates of $980.58 million.
Shares of Skyworks Solutions (NASDAQ:SWKS) traded up $3.60 during mid-day trading on Thursday, reaching $102.64. 3,275,170 shares of the company’s stock traded hands, compared to its average volume of 3,005,985. Skyworks Solutions has a 12-month low of $90.53 and a 12-month high of $117.65. The firm has a market cap of $18,300.00, a price-to-earnings ratio of 23.27, a P/E/G ratio of 1.01 and a beta of 0.69.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Thursday, February 22nd will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date is Wednesday, February 21st. Skyworks Solutions’s dividend payout ratio is currently 29.02%.
Skyworks Solutions declared that its board has initiated a share buyback program on Monday, February 5th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the semiconductor manufacturer to repurchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.
In other Skyworks Solutions news, Chairman David J. Aldrich sold 45,000 shares of the business’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $110.08, for a total value of $4,953,600.00. Following the completion of the sale, the chairman now owns 184,842 shares of the company’s stock, valued at approximately $20,347,407.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Peter L. Gammel sold 7,800 shares of the business’s stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $100.60, for a total transaction of $784,680.00. Following the completion of the sale, the insider now directly owns 12,680 shares of the company’s stock, valued at approximately $1,275,608. The disclosure for this sale can be found here. Insiders sold a total of 157,523 shares of company stock valued at $16,684,175 in the last three months. Insiders own 0.49% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Union Bankshares Corp acquired a new position in shares of Skyworks Solutions in the 4th quarter valued at approximately $1,912,000. Cullen Frost Bankers Inc. increased its position in Skyworks Solutions by 9.4% during the 4th quarter. Cullen Frost Bankers Inc. now owns 148,581 shares of the semiconductor manufacturer’s stock worth $14,108,000 after purchasing an additional 12,828 shares in the last quarter. Van ECK Associates Corp increased its position in Skyworks Solutions by 69.2% during the 3rd quarter. Van ECK Associates Corp now owns 307,568 shares of the semiconductor manufacturer’s stock worth $31,341,000 after purchasing an additional 125,792 shares in the last quarter. Pinebridge Investments L.P. increased its position in Skyworks Solutions by 88.2% during the 3rd quarter. Pinebridge Investments L.P. now owns 108,618 shares of the semiconductor manufacturer’s stock worth $11,069,000 after purchasing an additional 50,898 shares in the last quarter. Finally, Gateway Investment Advisers LLC increased its position in Skyworks Solutions by 18.2% during the 4th quarter. Gateway Investment Advisers LLC now owns 170,791 shares of the semiconductor manufacturer’s stock worth $16,217,000 after purchasing an additional 26,237 shares in the last quarter. 81.77% of the stock is owned by hedge funds and other institutional investors.
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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