Vetr Inc. Lowers Skyworks Solutions, Inc. (SWKS) to Hold
Vetr downgraded shares of Skyworks Solutions, Inc. (NASDAQ:SWKS) from a buy rating to a hold rating in a research note released on Monday. Vetr currently has $112.42 price target on the semiconductor manufacturer’s stock.
A number of other equities analysts have also recently issued reports on SWKS. ValuEngine cut shares of Skyworks Solutions from a buy rating to a hold rating in a research note on Tuesday, May 23rd. Raymond James Financial, Inc. reiterated an outperform rating and issued a $120.00 price target on shares of Skyworks Solutions in a research note on Friday, June 16th. Pacific Crest reiterated an overweight rating and issued a $120.00 price target on shares of Skyworks Solutions in a research note on Wednesday, June 21st. BidaskClub cut shares of Skyworks Solutions from a strong-buy rating to a buy rating in a research note on Thursday, June 29th. Finally, Argus initiated coverage on shares of Skyworks Solutions in a research note on Thursday, July 6th. They issued a buy rating and a $120.00 price target on the stock. One analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of Buy and an average price target of $111.82.
Skyworks Solutions (NASDAQ SWKS) opened at 102.13 on Monday. The company has a market capitalization of $18.77 billion, a price-to-earnings ratio of 19.60 and a beta of 0.81. Skyworks Solutions has a 52-week low of $71.65 and a 52-week high of $112.11. The company’s 50 day moving average is $104.54 and its 200-day moving average is $102.42.
Skyworks Solutions (NASDAQ:SWKS) last released its earnings results on Thursday, July 20th. The semiconductor manufacturer reported $1.57 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.52 by $0.05. The firm had revenue of $900.80 million for the quarter, compared to the consensus estimate of $890.58 million. Skyworks Solutions had a net margin of 27.86% and a return on equity of 28.67%. The company’s revenue was up 19.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.24 EPS. Equities analysts anticipate that Skyworks Solutions will post $6.39 EPS for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 29th. Shareholders of record on Tuesday, August 8th were issued a dividend of $0.32 per share. This is a positive change from Skyworks Solutions’s previous quarterly dividend of $0.28. This represents a $1.28 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date was Friday, August 4th. Skyworks Solutions’s dividend payout ratio (DPR) is 24.57%.
In other Skyworks Solutions news, insider Liam Griffin sold 2,610 shares of the stock in a transaction that occurred on Tuesday, August 29th. The shares were sold at an average price of $99.98, for a total transaction of $260,947.80. Following the completion of the sale, the insider now directly owns 50,408 shares of the company’s stock, valued at approximately $5,039,791.84. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Christine King sold 3,705 shares of the stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $106.82, for a total transaction of $395,768.10. Following the sale, the director now directly owns 16,641 shares of the company’s stock, valued at $1,777,591.62. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 14,371 shares of company stock valued at $1,505,093. Insiders own 0.49% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the business. Invictus RG purchased a new stake in Skyworks Solutions during the 1st quarter valued at approximately $101,000. Winslow Evans & Crocker Inc. grew its holdings in Skyworks Solutions by 3.3% during the 2nd quarter. Winslow Evans & Crocker Inc. now owns 1,085 shares of the semiconductor manufacturer’s stock valued at $104,000 after buying an additional 35 shares in the last quarter. WFG Advisors LP grew its holdings in Skyworks Solutions by 18.6% during the 1st quarter. WFG Advisors LP now owns 1,155 shares of the semiconductor manufacturer’s stock valued at $113,000 after buying an additional 181 shares in the last quarter. Sun Life Financial INC grew its holdings in Skyworks Solutions by 551.5% during the 2nd quarter. Sun Life Financial INC now owns 1,342 shares of the semiconductor manufacturer’s stock valued at $129,000 after buying an additional 1,136 shares in the last quarter. Finally, TrimTabs Asset Management LLC grew its holdings in Skyworks Solutions by 89.0% during the 1st quarter. TrimTabs Asset Management LLC now owns 1,410 shares of the semiconductor manufacturer’s stock valued at $138,000 after buying an additional 664 shares in the last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.
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.
To view Vetr’s full report, visit Vetr’s official website.
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