Insider Selling: Skyworks Solutions CEO Unloads 30,000 Shares of Stock (SWKS)
Skyworks Solutions (NASDAQ:SWKS) CEO David J. Aldrich sold 30,000 shares of the company’s stock on the open market in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $53.74, for a total transaction of $1,612,200.00. Following the completion of the transaction, the chief executive officer now directly owns 209,542 shares in the company, valued at approximately $11,260,787. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Skyworks Solutions (NASDAQ:SWKS) traded up 1.66% on Friday, hitting $54.39. 2,909,570 shares of the company’s stock traded hands. Skyworks Solutions has a 52-week low of $23.27 and a 52-week high of $54.88. The stock has a 50-day moving average of $50.43 and a 200-day moving average of $41.68. The company has a market cap of $10.308 billion and a price-to-earnings ratio of 28.00.
Skyworks Solutions (NASDAQ:SWKS) last posted its quarterly earnings results 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 declared a quarterly dividend, which is scheduled for Thursday, August 21st. Shareholders of record on Thursday, August 7th will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date of this dividend is Tuesday, August 5th.
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 equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $55.47.
Skyworks Solutions, Inc (NASDAQ:SWKS) is a producer of analog semiconductors.
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