Skyworks Solutions (NASDAQ:SWKS) Earns “Hold” Rating from Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of Skyworks Solutions (NASDAQ:SWKS) in a report released on Wednesday, Benzinga reports.

A number of other analysts also recently issued reports on the company. Barclays raised their target price on Skyworks Solutions from $85.00 to $115.00 and gave the stock an equal weight rating in a research note on Tuesday. UBS Group cut their target price on Skyworks Solutions from $110.00 to $100.00 and set a neutral rating for the company in a research note on Wednesday, May 1st. KeyCorp downgraded Skyworks Solutions from an overweight rating to a sector weight rating in a research note on Monday, April 8th. B. Riley raised Skyworks Solutions from a neutral rating to a buy rating and raised their price objective for the stock from $96.00 to $130.00 in a research report on Thursday, June 20th. Finally, Wells Fargo & Company cut their price objective on Skyworks Solutions from $110.00 to $100.00 and set an equal weight rating for the company in a research report on Wednesday, May 1st. Two equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Hold and a consensus price target of $113.94.

Skyworks Solutions Stock Down 3.1 %

NASDAQ SWKS opened at $104.70 on Wednesday. The business has a fifty day moving average price of $105.55 and a 200 day moving average price of $103.30. Skyworks Solutions has a one year low of $85.06 and a one year high of $120.86. The company has a debt-to-equity ratio of 0.16, a quick ratio of 3.81 and a current ratio of 5.75. The company has a market cap of $16.72 billion, a P/E ratio of 19.68, a P/E/G ratio of 5.13 and a beta of 1.23.

Skyworks Solutions (NASDAQ:SWKS) last posted its quarterly earnings data on Tuesday, July 30th. The semiconductor manufacturer reported $1.21 EPS for the quarter, meeting the consensus estimate of $1.21. Skyworks Solutions had a return on equity of 15.41% and a net margin of 17.85%. The firm had revenue of $905.50 million during the quarter, compared to the consensus estimate of $900.41 million. During the same period in the prior year, the company earned $1.50 EPS. The firm’s revenue was down 15.5% compared to the same quarter last year. Research analysts anticipate that Skyworks Solutions will post 5.14 EPS for the current fiscal year.

Skyworks Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Tuesday, August 20th will be given a dividend of $0.70 per share. The ex-dividend date is Tuesday, August 20th. This is an increase from Skyworks Solutions’s previous quarterly dividend of $0.68. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.67%. Skyworks Solutions’s payout ratio is currently 51.13%.

Insider Transactions at Skyworks Solutions

In other news, Director Robert A. Schriesheim sold 25,433 shares of the business’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $90.27, for a total transaction of $2,295,836.91. Following the completion of the transaction, the director now directly owns 60,881 shares of the company’s stock, valued at $5,495,727.87. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, VP Philip Matthew Carter sold 452 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $120.00, for a total value of $54,240.00. Following the completion of the transaction, the vice president now directly owns 9,112 shares of the company’s stock, valued at $1,093,440. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert A. Schriesheim sold 25,433 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $90.27, for a total value of $2,295,836.91. Following the completion of the transaction, the director now directly owns 60,881 shares of the company’s stock, valued at $5,495,727.87. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,337 shares of company stock valued at $2,399,797. 0.34% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Skyworks Solutions

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sequoia Financial Advisors LLC boosted its holdings in Skyworks Solutions by 4.0% in the second quarter. Sequoia Financial Advisors LLC now owns 2,244 shares of the semiconductor manufacturer’s stock valued at $239,000 after purchasing an additional 87 shares in the last quarter. HB Wealth Management LLC boosted its holdings in Skyworks Solutions by 3.0% in the first quarter. HB Wealth Management LLC now owns 3,219 shares of the semiconductor manufacturer’s stock valued at $349,000 after purchasing an additional 94 shares in the last quarter. Safeguard Investment Advisory Group LLC boosted its holdings in Skyworks Solutions by 0.6% in the fourth quarter. Safeguard Investment Advisory Group LLC now owns 15,694 shares of the semiconductor manufacturer’s stock valued at $1,764,000 after purchasing an additional 99 shares in the last quarter. Albert D Mason Inc. boosted its holdings in Skyworks Solutions by 0.7% in the first quarter. Albert D Mason Inc. now owns 14,591 shares of the semiconductor manufacturer’s stock valued at $1,581,000 after purchasing an additional 99 shares in the last quarter. Finally, John G Ullman & Associates Inc. boosted its holdings in Skyworks Solutions by 3.1% in the fourth quarter. John G Ullman & Associates Inc. now owns 3,300 shares of the semiconductor manufacturer’s stock valued at $371,000 after purchasing an additional 100 shares in the last quarter. 85.43% of the stock is owned by institutional investors and hedge funds.

Skyworks Solutions Company Profile

Skyworks Solutions, Inc, together with its subsidiaries, designs, develops, manufactures, and markets proprietary semiconductor products in the United States, China, South Korea, Taiwan, Europe, the Middle East, Africa, and the rest of Asia-Pacific. Its product portfolio includes amplifiers, antenna tuners, attenuators, automotive tuners and digital radios, DC/DC converters, demodulators, detectors, diodes, wireless analog system on chip products, directional couplers, diversity receive modules, filters, front-end modules, hybrids, light emitting diode drivers, low noise amplifiers, mixers, modulators, optocouplers/optoisolators, phase locked loops, phase shifters, power dividers/combiners, power over ethernet, power isolators, receivers, switches, synthesizers, timing devices, voltage controlled oscillators/synthesizers, and voltage regulators.