Skyworks Solutions, Inc. (SWKS) Releases Quarterly Earnings Results, Beats Estimates By $0.05 EPS
Skyworks Solutions, Inc. (NASDAQ:SWKS) announced its earnings results on Thursday. The semiconductor manufacturer reported $1.57 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.52 by $0.05, Bloomberg Earnings reports. The company had revenue of $900.80 million for the quarter, compared to analysts’ expectations of $890.58 million. Skyworks Solutions had a return on equity of 28.00% and a net margin of 27.27%. Skyworks Solutions’s quarterly revenue was up 19.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.24 earnings per share. Skyworks Solutions updated its Q4 guidance to $1.75 EPS.
Skyworks Solutions (SWKS) traded up 2.12% during mid-day trading on Thursday, hitting $107.64. The company had a trading volume of 4,144,552 shares. The company has a market capitalization of $19.86 billion, a price-to-earnings ratio of 22.19 and a beta of 0.81. The firm’s 50 day moving average is $102.89 and its 200 day moving average is $97.40. Skyworks Solutions has a 52 week low of $62.40 and a 52 week high of $112.11.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 29th. Investors of record on Tuesday, August 8th will be paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.19%. This is a positive change from Skyworks Solutions’s previous quarterly dividend of $0.28. Skyworks Solutions’s payout ratio is presently 23.05%.
SWKS has been the topic of several analyst reports. Vetr cut Skyworks Solutions from a “buy” rating to a “hold” rating and set a $101.62 target price on the stock. in a research report on Tuesday, March 28th. Macquarie initiated coverage on Skyworks Solutions in a research report on Thursday, March 30th. They set an “outperform” rating and a $110.00 target price on the stock. Pacific Crest raised Skyworks Solutions from a “sector weight” rating to an “overweight” rating and set a $120.00 target price on the stock in a research report on Tuesday, April 4th. Craig Hallum lifted their target price on Skyworks Solutions from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Tuesday, April 4th. Finally, Zacks Investment Research raised Skyworks Solutions from a “hold” rating to a “buy” rating and set a $114.00 target price on the stock in a research report on Tuesday, April 11th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, nineteen have given a buy rating and three have given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $102.93.
In related news, insider Liam Griffin sold 21,000 shares of Skyworks Solutions stock in a transaction on Monday, May 1st. The stock was sold at an average price of $100.25, for a total transaction of $2,105,250.00. Following the transaction, the insider now directly owns 74,782 shares in the company, valued at $7,496,895.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Christine King sold 3,500 shares of Skyworks Solutions stock in a transaction on Monday, June 5th. The shares were sold at an average price of $108.84, for a total value of $380,940.00. Following the transaction, the director now owns 16,436 shares in the company, valued at $1,788,894.24. The disclosure for this sale can be found here. Insiders have sold 93,458 shares of company stock worth $9,512,091 over the last quarter. 0.49% of the stock is owned by company insiders.
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Skyworks Solutions Company Profile
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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