Skyworks Solutions EVP Sells $2,703,750 in Stock (SWKS)
Skyworks Solutions (NASDAQ:SWKS) EVP Bruce J. Freyman sold 51,500 shares of the stock on the open market in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $52.50, for a total value of $2,703,750.00. Following the transaction, the executive vice president now directly owns 29,496 shares of the company’s stock, valued at approximately $1,548,540. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
SWKS has been the subject of a number of recent research reports. Analysts at Canaccord Genuity raised their price target on shares of Skyworks Solutions from $55.00 to $62.00 in a research note on Tuesday. They now have a “buy” rating on the stock. Separately, analysts at Pacific Crest reiterated an “outperform” rating on shares of Skyworks Solutions in a research note on Thursday, August 7th. Finally, analysts at Tigress Financial downgraded shares of Skyworks Solutions from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 24th. Two investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $55.47.
Shares of Skyworks Solutions (NASDAQ:SWKS) traded up 3.05% during mid-day trading on Wednesday, hitting $54.01. The stock had a trading volume of 3,865,534 shares. Skyworks Solutions has a 52 week low of $23.27 and a 52 week high of $54.50. The stock has a 50-day moving average of $50.00 and a 200-day moving average of $41.42. The company has a market cap of $10.236 billion and a P/E ratio of 27.43. Skyworks Solutions also saw a large increase in short interest in July. As of July 31st, there was short interest totalling 5,423,855 shares, an increase of 73.4% from the July 15th total of 3,127,848 shares. Approximately 2.9% of the shares of the stock are short sold. Based on an average daily volume of 5,336,447 shares, the short-interest ratio is presently 1.0 days.
Skyworks Solutions (NASDAQ:SWKS) last released its earnings data on Thursday, July 17th. The company reported $0.83 earnings per share for the quarter, missing the analysts’ consensus estimate of $80.00 by $79.17. The company had revenue of $587.00 million for the quarter, compared to the consensus estimate of $570.37 million. During the same quarter last year, the company posted $0.54 earnings per share. Skyworks Solutions’s revenue was up 34.6% compared to the same quarter last year. Analysts expect that Skyworks Solutions will post $3.13 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, August 21st. Investors of record on Thursday, August 7th will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 0.81%. The ex-dividend date is Tuesday, August 5th.
Skyworks Solutions, Inc (NASDAQ:SWKS) is a producer of analog semiconductors.
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