Insider Selling: Skyworks Solutions Director Sells 10,000 Shares of Stock (SWKS)
Skyworks Solutions (NASDAQ:SWKS) Director Balakrishnan S. Iyer unloaded 10,000 shares of the company’s stock on the open market in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $55.34, for a total value of $553,400.00. Following the transaction, the director now directly owns 32,247 shares in the company, valued at approximately $1,784,549. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Skyworks Solutions (NASDAQ:SWKS) traded down 1.00% on Thursday, hitting $55.26. 1,847,778 shares of the company’s stock traded hands. Skyworks Solutions has a 52-week low of $23.27 and a 52-week high of $56.08. The stock’s 50-day moving average is $51.35 and its 200-day moving average is $42.39. The company has a market cap of $10.473 billion and a P/E ratio of 29.21.
Skyworks Solutions (NASDAQ:SWKS) last announced its 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. On average, analysts predict that Skyworks Solutions will post $3.13 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, August 21st. Investors 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 0.80%. 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, August 12th. 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 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 company. Skyworks Solutions currently has an average 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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