FY2017 EPS Estimates for Skyworks Solutions, Inc. (SWKS) Boosted by Craig Hallum
Skyworks Solutions, Inc. (NASDAQ:SWKS) – Equities researchers at Craig Hallum boosted their FY2017 earnings estimates for shares of Skyworks Solutions in a research report issued on Friday. Craig Hallum analyst A. Stoss now forecasts that the semiconductor manufacturer will earn $5.96 per share for the year, up from their prior estimate of $5.88. Craig Hallum currently has a “Buy” rating and a $125.00 target price on the stock.
Other equities analysts have also issued research reports about the company. B. Riley reiterated a “buy” rating and issued a $120.00 target price on shares of Skyworks Solutions in a research note on Friday, April 28th. Vetr downgraded Skyworks Solutions from a “strong-buy” rating to a “buy” rating and set a $112.92 price target for the company. in a report on Thursday, April 20th. Barclays PLC reissued an “overweight” rating on shares of Skyworks Solutions in a report on Friday. Cowen and Company reissued a “market perform” rating and issued a $110.00 price target on shares of Skyworks Solutions in a report on Friday. Finally, Bank of America Corporation raised their price target on Skyworks Solutions from $115.00 to $120.00 and gave the stock a “buy” rating in a report on Friday. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty have issued a buy rating and three have assigned a strong buy rating to the company’s stock. Skyworks Solutions presently has an average rating of “Buy” and an average price target of $106.74.
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Shares of Skyworks Solutions (NASDAQ SWKS) opened at 107.47 on Monday. The stock’s 50 day moving average is $102.89 and its 200 day moving average is $97.40. The firm has a market capitalization of $19.80 billion, a PE ratio of 20.63 and a beta of 0.81. Skyworks Solutions has a 52-week low of $62.40 and a 52-week high of $112.11.
Skyworks Solutions (NASDAQ:SWKS) last posted its quarterly earnings data on Thursday, July 20th. The semiconductor manufacturer reported $1.57 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.52 by $0.05. Skyworks Solutions had a net margin of 27.86% and a return on equity of 28.67%. The company had revenue of $900.80 million during the quarter, compared to analysts’ expectations of $890.58 million. During the same period in the prior year, the company posted $1.24 earnings per share. Skyworks Solutions’s revenue for the quarter was up 19.8% compared to the same quarter last year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 29th. Shareholders of record on Tuesday, August 8th will be issued a $0.32 dividend. This is a boost from Skyworks Solutions’s previous quarterly dividend of $0.28. This represents a $1.28 annualized dividend and a yield of 1.19%. The ex-dividend date is Friday, August 4th. Skyworks Solutions’s dividend payout ratio is presently 21.50%.
In other news, VP Robert John Terry sold 3,233 shares of the company’s stock in a transaction on Monday, May 1st. The stock was sold at an average price of $100.26, for a total value of $324,140.58. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Liam Griffin sold 21,000 shares of the company’s stock in a transaction on Monday, May 1st. The shares were sold at an average price of $100.25, for a total value of $2,105,250.00. Following the completion of the transaction, the insider now directly owns 74,782 shares in the company, valued at approximately $7,496,895.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 93,458 shares of company stock valued at $9,512,091. 0.49% of the stock is owned by company insiders.
Several institutional investors have recently made changes to their positions in SWKS. Winslow Evans & Crocker Inc. raised 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 valued at $103,000 after buying an additional 50 shares during the period. Orrstown Financial Services Inc. raised its position in shares of Skyworks Solutions by 2.0% in the first quarter. Orrstown Financial Services Inc. now owns 18,789 shares of the semiconductor manufacturer’s stock valued at $1,841,000 after buying an additional 375 shares during the period. Gulf International Bank UK Ltd raised its position in shares of Skyworks Solutions by 1.3% in the first quarter. Gulf International Bank UK Ltd now owns 56,653 shares of the semiconductor manufacturer’s stock valued at $5,550,000 after buying an additional 700 shares during the period. Contravisory Investment Management Inc. acquired a new position in shares of Skyworks Solutions during the first quarter valued at approximately $6,378,000. Finally, Fulton Bank N.A. raised its position in shares of Skyworks Solutions by 9.7% in the first quarter. Fulton Bank N.A. now owns 19,568 shares of the semiconductor manufacturer’s stock valued at $1,917,000 after buying an additional 1,726 shares during the period. 81.24% of the stock is currently owned by institutional investors and hedge funds.
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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