Craig Hallum restated their buy rating on shares of Skyworks Solutions (NASDAQ:SWKS) in a research note published on Friday morning, Briefing.com Automated Import reports. Craig Hallum currently has a $105.00 price target on the semiconductor manufacturer’s stock, up from their previous price target of $90.00.
Other equities analysts have also issued research reports about the company. TheStreet raised Skyworks Solutions from a c+ rating to a b- rating in a report on Wednesday, February 27th. Cowen reissued a market perform rating and set a $95.00 price target (up previously from $80.00) on shares of Skyworks Solutions in a report on Friday. Zacks Investment Research lowered Skyworks Solutions from a hold rating to a sell rating in a report on Monday, March 25th. B. Riley reissued a neutral rating and set a $80.00 price target (down previously from $89.00) on shares of Skyworks Solutions in a report on Wednesday, January 9th. Finally, BidaskClub raised Skyworks Solutions from a hold rating to a buy rating in a report on Wednesday, February 13th. Two analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and eleven have issued a buy rating to the stock. Skyworks Solutions has a consensus rating of Hold and a consensus price target of $92.11.
Shares of SWKS stock opened at $86.52 on Friday. The stock has a market cap of $15.15 billion, a price-to-earnings ratio of 13.05, a PEG ratio of 1.33 and a beta of 0.70. Skyworks Solutions has a 1 year low of $60.12 and a 1 year high of $104.20.
Skyworks Solutions (NASDAQ:SWKS) last issued its quarterly earnings data on Thursday, May 2nd. The semiconductor manufacturer reported $1.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.04. The company had revenue of $810.40 million for the quarter, compared to analyst estimates of $809.52 million. Skyworks Solutions had a return on equity of 28.27% and a net margin of 29.06%. The business’s quarterly revenue was down 11.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.64 earnings per share. As a group, sell-side analysts forecast that Skyworks Solutions will post 6.01 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 11th. Investors of record on Tuesday, May 21st will be given a $0.38 dividend. The ex-dividend date is Monday, May 20th. This represents a $1.52 dividend on an annualized basis and a yield of 1.76%. Skyworks Solutions’s payout ratio is currently 22.93%.
Skyworks Solutions announced that its Board of Directors has approved a share buyback plan on Tuesday, February 5th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the semiconductor manufacturer to reacquire up to 15.4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
In other news, insider Liam Griffin sold 18,250 shares of Skyworks Solutions stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $92.05, for a total transaction of $1,679,912.50. Following the completion of the sale, the insider now directly owns 79,913 shares in the company, valued at approximately $7,355,991.65. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CTO Peter L. Gammel sold 1,881 shares of Skyworks Solutions stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $93.53, for a total transaction of $175,929.93. Following the sale, the chief technology officer now owns 9,240 shares of the company’s stock, valued at $864,217.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 111,980 shares of company stock valued at $9,795,661. 0.64% of the stock is owned by insiders.
Several hedge funds have recently bought and sold shares of the company. BOKF NA lifted its position in shares of Skyworks Solutions by 3.7% during the 4th quarter. BOKF NA now owns 3,767 shares of the semiconductor manufacturer’s stock valued at $252,000 after acquiring an additional 133 shares during the period. Capital Investment Counsel Inc lifted its position in shares of Skyworks Solutions by 0.3% during the 1st quarter. Capital Investment Counsel Inc now owns 42,646 shares of the semiconductor manufacturer’s stock valued at $3,517,000 after acquiring an additional 135 shares during the period. Greenwich Wealth Management LLC lifted its position in shares of Skyworks Solutions by 0.6% during the 4th quarter. Greenwich Wealth Management LLC now owns 21,762 shares of the semiconductor manufacturer’s stock valued at $1,459,000 after acquiring an additional 136 shares during the period. Thrivent Financial for Lutherans lifted its position in shares of Skyworks Solutions by 1.8% during the 4th quarter. Thrivent Financial for Lutherans now owns 7,958 shares of the semiconductor manufacturer’s stock valued at $533,000 after acquiring an additional 140 shares during the period. Finally, Montag & Caldwell LLC raised its position in shares of Skyworks Solutions by 4.2% during the 1st quarter. Montag & Caldwell LLC now owns 3,489 shares of the semiconductor manufacturer’s stock worth $288,000 after purchasing an additional 140 shares during the last quarter. Institutional investors own 82.83% of the company’s stock.
Skyworks Solutions Company Profile
Skyworks Solutions, Inc, together with its subsidiaries, designs, develops, manufactures, and markets proprietary semiconductor products, including intellectual property worldwide. Its product portfolio includes amplifiers, antenna tuners, attenuators, circulators/isolators, DC/DC converters, demodulators, detectors, diodes, directional couplers, diversity receive modules, filters, front-end modules, hybrids, LED drivers, low noise amplifiers, mixers, modulators, optocouplers/optoisolators, phase locked loops, phase shifters, power dividers/combiners, receivers, switches, synthesizers, technical ceramics, voltage controlled oscillators/synthesizers, and voltage regulators.
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