Skyworks Solutions, Inc. (SWKS) Cut to Buy at BidaskClub
Skyworks Solutions, Inc. (NASDAQ:SWKS) was downgraded by stock analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a report issued on Thursday.
SWKS has been the topic of several other reports. Wells Fargo & Company began coverage on shares of Skyworks Solutions in a report on Tuesday, March 7th. They issued an “outperform” rating on the stock. They noted that the move was a valuation call. Vetr lowered shares of Skyworks Solutions from a “buy” rating to a “hold” rating and set a $110.24 target price for the company. in a research note on Wednesday, June 7th. Barclays PLC boosted their target price on shares of Skyworks Solutions from $100.00 to $110.00 and gave the company an “overweight” rating in a research note on Tuesday, April 18th. B. Riley reiterated a “buy” rating and set a $120.00 target price on shares of Skyworks Solutions in a research note on Friday, April 28th. Finally, Macquarie initiated coverage on shares of Skyworks Solutions in a research note on Thursday, March 30th. They set an “outperform” rating and a $110.00 target price for the company. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $101.33.
Skyworks Solutions (SWKS) traded down 2.557% on Thursday, hitting $95.845. 1,960,963 shares of the company were exchanged. Skyworks Solutions has a 52-week low of $57.11 and a 52-week high of $112.11. The stock has a market cap of $17.69 billion, a PE ratio of 19.758 and a beta of 0.77. The firm has a 50 day moving average of $104.37 and a 200-day moving average of $93.98.
Skyworks Solutions (NASDAQ:SWKS) last posted its quarterly earnings results on Thursday, April 27th. The semiconductor manufacturer reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.03. The firm had revenue of $851.70 million for the quarter, compared to analysts’ expectations of $840.43 million. Skyworks Solutions had a net margin of 27.27% and a return on equity of 28.00%. The firm’s quarterly revenue was up 9.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.25 earnings per share. On average, equities analysts expect that Skyworks Solutions will post $6.32 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 6th. Stockholders of record on Tuesday, May 16th were issued a $0.28 dividend. The ex-dividend date was Friday, May 12th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.14%. Skyworks Solutions’s dividend payout ratio is 23.05%.
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In other news, insider Peter L. Gammel sold 1,500 shares of the company’s stock in a transaction dated Monday, April 17th. The stock was sold at an average price of $97.92, for a total value of $146,880.00. Following the transaction, the insider now owns 17,605 shares in the company, valued at approximately $1,723,881.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David J. Aldrich sold 47,475 shares of the company’s stock in a transaction dated Thursday, May 4th. The shares were sold at an average price of $102.00, for a total value of $4,842,450.00. Following the completion of the transaction, the insider now owns 191,731 shares in the company, valued at approximately $19,556,562. The disclosure for this sale can be found here. Insiders sold a total of 94,958 shares of company stock worth $9,658,971 in the last quarter. 0.49% of the stock is owned by corporate insiders.
Several institutional investors have recently modified their holdings of SWKS. Invictus RG acquired a new position in shares of Skyworks Solutions during the first quarter worth $101,000. Winslow Evans & Crocker Inc. increased its position in shares of Skyworks Solutions by 5.0% in the first quarter. Winslow Evans & Crocker Inc. now owns 1,050 shares of the semiconductor manufacturer’s stock worth $103,000 after buying an additional 50 shares in the last quarter. Tompkins Financial Corp acquired a new position in shares of Skyworks Solutions during the first quarter worth $107,000. WFG Advisors LP increased its position in shares of Skyworks Solutions by 18.6% in the first quarter. WFG Advisors LP now owns 1,155 shares of the semiconductor manufacturer’s stock worth $113,000 after buying an additional 181 shares in the last quarter. Finally, TrimTabs Asset Management LLC increased its position in shares of Skyworks Solutions by 89.0% in the first quarter. TrimTabs Asset Management LLC now owns 1,410 shares of the semiconductor manufacturer’s stock worth $138,000 after buying an additional 664 shares in the last quarter. Institutional investors own 81.30% of the company’s stock.
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.
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