Skyworks Solutions’ (SWKS) “Buy” Rating Reaffirmed at MKM Partners
MKM Partners reaffirmed their buy rating on shares of Skyworks Solutions, Inc. (NASDAQ:SWKS) in a research report released on Wednesday. They currently have a $115.00 target price on the semiconductor manufacturer’s stock.
Other research analysts have also issued reports about the company. B. Riley restated a buy rating and issued a $120.00 target price on shares of Skyworks Solutions in a research note on Friday, April 28th. Vetr lowered Skyworks Solutions from a strong-buy rating to a buy rating and set a $112.92 target price for the company. in a research note on Thursday, April 20th. Barclays PLC restated an overweight rating on shares of Skyworks Solutions in a research note on Friday, July 21st. Craig Hallum upped 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, Cowen and Company restated a market perform rating and issued a $110.00 target price on shares of Skyworks Solutions in a research note on Friday, July 21st. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty-one have issued a buy rating and three have given a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and an average price target of $108.09.
Skyworks Solutions (NASDAQ:SWKS) opened at 105.76 on Wednesday. The firm has a market cap of $19.48 billion, a P/E ratio of 20.30 and a beta of 0.81. The firm has a 50-day moving average of $102.52 and a 200-day moving average of $98.60. Skyworks Solutions has a 12-month low of $63.30 and a 12-month high of $112.11.
Skyworks Solutions (NASDAQ:SWKS) last issued its quarterly earnings results 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 company had revenue of $900.80 million during the quarter, compared to analyst estimates of $890.58 million. During the same period in the previous year, the company earned $1.24 earnings per share. The company’s quarterly revenue was up 19.8% compared to the same quarter last year. On average, analysts expect that Skyworks Solutions will post $6.38 EPS for the current year.
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The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 29th. Investors of record on Tuesday, August 8th will be issued a $0.32 dividend. This is a boost from Skyworks Solutions’s previous quarterly dividend of $0.28. The ex-dividend date is Friday, August 4th. This represents a $1.28 annualized dividend and a yield of 1.21%. Skyworks Solutions’s dividend payout ratio (DPR) is currently 21.50%.
In related news, insider Liam Griffin sold 8,056 shares of the firm’s stock in a transaction dated Tuesday, July 25th. The stock was 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 $5,719,386.10. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Robert John Terry sold 3,233 shares of the firm’s stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $100.26, for a total value of $324,140.58. The disclosure for this sale can be found here. In the last quarter, insiders sold 101,514 shares of company stock worth $10,360,468. 0.49% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in Skyworks Solutions by 2.7% in the first quarter. Vanguard Group Inc. now owns 17,823,006 shares of the semiconductor manufacturer’s stock valued at $1,746,298,000 after buying an additional 466,480 shares in the last quarter. BlackRock Inc. boosted its position in Skyworks Solutions by 3,071.2% in the first quarter. BlackRock Inc. now owns 12,053,655 shares of the semiconductor manufacturer’s stock valued at $1,181,019,000 after buying an additional 11,673,555 shares in the last quarter. State Street Corp boosted its position in Skyworks Solutions by 0.5% in the first quarter. State Street Corp now owns 7,739,120 shares of the semiconductor manufacturer’s stock valued at $758,285,000 after buying an additional 38,898 shares in the last quarter. Geode Capital Management LLC boosted its position in Skyworks Solutions by 9.6% in the first quarter. Geode Capital Management LLC now owns 2,170,250 shares of the semiconductor manufacturer’s stock valued at $212,388,000 after buying an additional 189,313 shares in the last quarter. Finally, Winslow Capital Management LLC bought a new position in Skyworks Solutions during the first quarter valued at $205,388,000. Institutional investors and hedge funds own 81.24% 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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