Research Analysts Issue Forecasts for Skyworks Solutions, Inc.’s Q2 2019 Earnings (SWKS)

Skyworks Solutions, Inc. (NASDAQ:SWKS) – B. Riley issued their Q2 2019 earnings per share (EPS) estimates for Skyworks Solutions in a research note issued to investors on Tuesday. B. Riley analyst C. Ellis expects that the semiconductor manufacturer will earn $1.77 per share for the quarter. B. Riley has a “Buy” rating and a $128.00 price objective on the stock. B. Riley also issued estimates for Skyworks Solutions’ Q3 2019 earnings at $1.90 EPS and Q4 2019 earnings at $2.19 EPS.

Skyworks Solutions (NASDAQ:SWKS) last announced its quarterly earnings data on Monday, November 6th. The semiconductor manufacturer reported $1.69 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.64 by $0.05. Skyworks Solutions had a return on equity of 30.21% and a net margin of 21.72%. The firm had revenue of $984.60 million during the quarter, compared to the consensus estimate of $980.58 million.

Several other analysts also recently weighed in on SWKS. Barclays boosted their price objective on Skyworks Solutions from $110.00 to $120.00 and gave the company an “overweight” rating in a research report on Wednesday, October 18th. Vetr downgraded Skyworks Solutions from a “buy” rating to a “hold” rating and set a $114.92 price objective for the company. in a research report on Monday, October 30th. BMO Capital Markets reiterated a “hold” rating and issued a $100.00 price objective on shares of Skyworks Solutions in a research report on Monday, November 6th. DA Davidson restated a “buy” rating and set a $130.00 target price on shares of Skyworks Solutions in a report on Tuesday, November 7th. Finally, Drexel Hamilton restated a “buy” rating and set a $128.00 target price (up previously from $120.00) on shares of Skyworks Solutions in a report on Tuesday, November 7th. Four analysts have rated the stock with a sell rating, three have issued a hold rating and twenty-four have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $115.93.

Shares of Skyworks Solutions (NASDAQ:SWKS) traded down $2.31 during mid-day trading on Thursday, reaching $99.04. The company’s stock had a trading volume of 3,375,046 shares, compared to its average volume of 2,911,018. Skyworks Solutions has a 12-month low of $90.53 and a 12-month high of $117.65. The company has a market capitalization of $18,200.00, a P/E ratio of 22.46, a P/E/G ratio of 1.09 and a beta of 0.69.

Skyworks Solutions announced that its board has approved a share repurchase program on Monday, February 5th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor manufacturer to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Thursday, February 22nd will be paid a $0.32 dividend. The ex-dividend date is Wednesday, February 21st. This represents a $1.28 annualized dividend and a yield of 1.29%. Skyworks Solutions’s payout ratio is 29.02%.

In related news, SVP Carlos S. Bori sold 4,377 shares of the company’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $108.30, for a total value of $474,029.10. Following the sale, the senior vice president now directly owns 17,645 shares of the company’s stock, valued at $1,910,953.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Liam Griffin sold 12,141 shares of the company’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $110.95, for a total value of $1,347,043.95. Following the completion of the sale, the chief executive officer now directly owns 49,514 shares in the company, valued at $5,493,578.30. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 169,664 shares of company stock worth $18,031,219. 0.49% of the stock is owned by insiders.

A number of hedge funds have recently modified their holdings of the stock. Manning & Napier Advisors LLC grew its stake in Skyworks Solutions by 9.3% in the third quarter. Manning & Napier Advisors LLC now owns 2,190,222 shares of the semiconductor manufacturer’s stock worth $223,182,000 after purchasing an additional 186,077 shares during the period. Old Mutual Global Investors UK Ltd. grew its stake in shares of Skyworks Solutions by 15.9% in the fourth quarter. Old Mutual Global Investors UK Ltd. now owns 1,936,981 shares of the semiconductor manufacturer’s stock worth $183,916,000 after acquiring an additional 266,106 shares during the last quarter. APG Asset Management N.V. grew its stake in shares of Skyworks Solutions by 17.2% in the fourth quarter. APG Asset Management N.V. now owns 1,508,526 shares of the semiconductor manufacturer’s stock worth $119,283,000 after acquiring an additional 221,587 shares during the last quarter. Platinum Investment Management Ltd. grew its stake in shares of Skyworks Solutions by 0.3% in the third quarter. Platinum Investment Management Ltd. now owns 1,108,860 shares of the semiconductor manufacturer’s stock worth $112,992,000 after acquiring an additional 3,300 shares during the last quarter. Finally, Wells Fargo & Company MN grew its stake in shares of Skyworks Solutions by 1.2% in the fourth quarter. Wells Fargo & Company MN now owns 964,611 shares of the semiconductor manufacturer’s stock worth $91,590,000 after acquiring an additional 11,376 shares during the last quarter. 81.77% of the stock is currently owned by institutional investors.

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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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