Skyworks Solutions’ (SWKS) Buy Rating Reaffirmed at Brean Capital
Skyworks Solutions Inc. (NASDAQ:SWKS)‘s stock had its “buy” rating reiterated by analysts at Brean Capital in a research note issued on Wednesday.
Several other brokerages have also recently weighed in on SWKS. B. Riley cut Skyworks Solutions to a “buy” rating in a research report on Monday, June 13th. Pacific Crest reiterated an “equal weight” rating on shares of Skyworks Solutions in a research report on Thursday, September 15th. Vetr upgraded Skyworks Solutions from a “hold” rating to a “buy” rating and set a $72.24 price target on the stock in a research report on Monday, July 25th. Zacks Investment Research upgraded shares of Skyworks Solutions from a “strong sell” rating to a “hold” rating in a research report on Wednesday, June 29th. Finally, Drexel Hamilton restated a “buy” rating on shares of Skyworks Solutions in a research report on Wednesday, July 6th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $83.04.
Skyworks Solutions (NASDAQ:SWKS) traded up 0.95% during midday trading on Wednesday, reaching $76.44. 627,528 shares of the company traded hands. The stock’s 50 day moving average is $71.14 and its 200 day moving average is $69.27. Skyworks Solutions has a one year low of $54.50 and a one year high of $89.72. The company has a market capitalization of $14.33 billion, a price-to-earnings ratio of 15.14 and a beta of 1.15.
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Skyworks Solutions (NASDAQ:SWKS) last announced its quarterly earnings results on Thursday, July 21st. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.21 by $0.03. Skyworks Solutions had a return on equity of 29.31% and a net margin of 29.32%. The firm had revenue of $751.70 million for the quarter, compared to analysts’ expectations of $750.22 million. On average, equities analysts anticipate that Skyworks Solutions will post $5.53 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, August 25th. Shareholders of record on Thursday, August 4th were given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 1.48%. This is a boost from Skyworks Solutions’s previous quarterly dividend of $0.26. The ex-dividend date was Tuesday, August 2nd. Skyworks Solutions’s dividend payout ratio (DPR) is presently 22.18%.
In other Skyworks Solutions news, Chairman David J. Aldrich sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, July 5th. The stock was sold at an average price of $59.46, for a total value of $891,900.00. Following the transaction, the chairman now directly owns 140,327 shares of the company’s stock, valued at $8,343,843.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Bruce J. Freyman sold 3,221 shares of the firm’s stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $75.00, for a total value of $241,575.00. The disclosure for this sale can be found here. 0.62% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in SWKS. Norges Bank purchased a new position in shares of Skyworks Solutions during the fourth quarter valued at about $129,236,000. Chevy Chase Trust Holdings Inc. boosted its position in shares of Skyworks Solutions by 2.5% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 162,518 shares of the semiconductor manufacturer’s stock valued at $12,660,000 after buying an additional 3,911 shares during the last quarter. DnB Asset Management AS purchased a new position in shares of Skyworks Solutions during the first quarter valued at about $1,215,000. Investment Centers of America Inc. boosted its position in shares of Skyworks Solutions by 8.0% in the first quarter. Investment Centers of America Inc. now owns 10,873 shares of the semiconductor manufacturer’s stock valued at $847,000 after buying an additional 807 shares during the last quarter. Finally, Sii Investments Inc. WI boosted its position in shares of Skyworks Solutions by 3.0% in the first quarter. Sii Investments Inc. WI now owns 4,958 shares of the semiconductor manufacturer’s stock valued at $393,000 after buying an additional 144 shares during the last quarter. 76.66% of the stock is currently owned by institutional investors and hedge funds.
About Skyworks Solutions
Skyworks Solutions Inc is engaged in the production of analog semiconductors. The Company supports automotive, broadband, wireless infrastructure, energy management, Global Positioning System (GPS), industrial, medical, military, wireless networking, smartphone and tablet applications. The Company’s portfolio includes amplifiers, attenuators, circulators, demodulators, detectors, diodes, directional couplers, front-end modules, hybrids, infrastructure radio frequency (RF) subsystems, isolators, lighting and display solutions, mixers, modulators, optocouplers, optoisolators, phase shifters, phase locked loops (PLLs), synthesizers, voltage controlled oscillator power dividers (VCOs), power dividers/combiners, power management devices, receivers, switches, and technical ceramics.
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