Skyworks Solutions Target of Unusually High Options Trading (NASDAQ:SWKS)
Skyworks Solutions, Inc. (NASDAQ:SWKS) was the target of unusually large options trading on Monday. Traders bought 12,219 put options on the stock. This represents an increase of approximately 535% compared to the average daily volume of 1,923 put options.
Several equities analysts recently commented on SWKS shares. Needham & Company LLC restated a “buy” rating and set a $108.00 target price (up previously from $92.00) on shares of Skyworks Solutions in a research report on Friday, April 28th. Craig Hallum raised their target price on Skyworks Solutions from $110.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, April 28th. Drexel Hamilton lifted their price objective on Skyworks Solutions from $105.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, April 28th. B. Riley reiterated a “buy” rating and issued a $120.00 price objective on shares of Skyworks Solutions in a research report on Friday, April 28th. Finally, Zacks Investment Research upgraded Skyworks Solutions from a “hold” rating to a “buy” rating and set a $114.00 price objective for the company in a research report on Tuesday, April 11th. Two analysts have rated the stock with a sell rating, five have given a hold rating, twenty-one have given a buy rating and three have given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $108.09.
Skyworks Solutions (NASDAQ:SWKS) opened at 107.33 on Thursday. The firm has a 50-day moving average price of $102.74 and a 200-day moving average price of $98.32. Skyworks Solutions has a 1-year low of $62.40 and a 1-year high of $112.11. The firm has a market capitalization of $19.77 billion, a PE ratio of 20.60 and a beta of 0.81.
Skyworks Solutions (NASDAQ:SWKS) last announced its quarterly earnings results on Thursday, July 20th. The semiconductor manufacturer reported $1.57 earnings per share for the quarter, beating 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 business had revenue of $900.80 million for the quarter, compared to analysts’ expectations of $890.58 million. During the same quarter last year, the firm earned $1.24 EPS. The firm’s revenue for the quarter was up 19.8% compared to the same quarter last year. Equities analysts expect that Skyworks Solutions will post $6.38 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 29th. Investors of record on Tuesday, August 8th will be given a $0.32 dividend. This is a boost from Skyworks Solutions’s previous quarterly dividend of $0.28. The ex-dividend date is Friday, August 4th. This represents a $1.28 annualized dividend and a yield of 1.19%. Skyworks Solutions’s dividend payout ratio (DPR) is presently 21.50%.
In related news, Director Christine King sold 3,500 shares of the firm’s stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $108.84, for a total transaction of $380,940.00. Following the completion of the transaction, the director now owns 16,436 shares in the company, valued at approximately $1,788,894.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Liam Griffin sold 21,000 shares of the firm’s stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $100.25, for a total value of $2,105,250.00. Following the transaction, the insider now owns 74,782 shares of the company’s stock, valued at approximately $7,496,895.50. The disclosure for this sale can be found here. Insiders have sold a total of 93,458 shares of company stock valued at $9,512,091 in the last 90 days. 0.49% of the stock is owned by corporate insiders.
Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in Skyworks Solutions by 2.7% in the first quarter. Vanguard Group Inc. now owns 17,823,006 shares of the semiconductor manufacturer’s stock valued at $1,746,298,000 after buying an additional 466,480 shares in the last quarter. BlackRock Inc. boosted its position in Skyworks Solutions by 3,071.2% in the first quarter. BlackRock Inc. now owns 12,053,655 shares of the semiconductor manufacturer’s stock valued at $1,181,019,000 after buying an additional 11,673,555 shares in the last quarter. State Street Corp boosted its position in Skyworks Solutions by 0.5% in the first quarter. State Street Corp now owns 7,739,120 shares of the semiconductor manufacturer’s stock valued at $758,285,000 after buying an additional 38,898 shares in the last quarter. Geode Capital Management LLC boosted its position in Skyworks Solutions by 9.6% in the first quarter. Geode Capital Management LLC now owns 2,170,250 shares of the semiconductor manufacturer’s stock valued at $212,388,000 after buying an additional 189,313 shares in the last quarter. Finally, Winslow Capital Management LLC purchased a new position in Skyworks Solutions during the first quarter valued at approximately $205,388,000. 81.24% of the stock is currently owned by institutional investors and hedge funds.
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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