Skyworks Solutions (NASDAQ:SWKS) Shares Gap Down to $117.69

Skyworks Solutions, Inc. (NASDAQ:SWKS)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $117.69, but opened at $111.95. Skyworks Solutions shares last traded at $109.62, with a volume of 529,820 shares traded.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on SWKS shares. Susquehanna reissued a “neutral” rating and issued a $125.00 price objective on shares of Skyworks Solutions in a research report on Wednesday. UBS Group lowered their price objective on Skyworks Solutions from $110.00 to $100.00 and set a “neutral” rating for the company in a research report on Wednesday, May 1st. Bank of America lifted their price target on Skyworks Solutions from $95.00 to $110.00 and gave the stock an “underperform” rating in a research report on Wednesday. Robert W. Baird lifted their price target on Skyworks Solutions from $90.00 to $108.00 and gave the stock a “neutral” rating in a research report on Wednesday. Finally, Wolfe Research cut Skyworks Solutions from an “outperform” rating to a “peer perform” rating in a research report on Thursday, May 9th. Two research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $113.94.

Skyworks Solutions Trading Down 3.1 %

The company has a market cap of $16.80 billion, a PE ratio of 19.68, a price-to-earnings-growth ratio of 5.41 and a beta of 1.23. The company has a quick ratio of 3.81, a current ratio of 5.19 and a debt-to-equity ratio of 0.16. The business has a 50-day simple moving average of $105.55 and a 200-day simple moving average of $103.30.

Skyworks Solutions (NASDAQ:SWKS) last announced its earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $1.21 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.21. The company had revenue of $905.50 million for the quarter, compared to analyst estimates of $900.41 million. Skyworks Solutions had a return on equity of 15.48% and a net margin of 17.85%. The firm’s quarterly revenue was down 15.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.50 earnings per share. On average, analysts predict that Skyworks Solutions, Inc. will post 5.14 EPS for the current fiscal year.

Skyworks Solutions Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 20th will be given a $0.70 dividend. This is a positive change from Skyworks Solutions’s previous quarterly dividend of $0.68. The ex-dividend date is Tuesday, August 20th. This represents a $2.80 dividend on an annualized basis and a yield of 2.67%. Skyworks Solutions’s payout ratio is presently 51.13%.

Insider Buying and Selling at Skyworks Solutions

In other news, Director Robert A. Schriesheim sold 25,433 shares of the company’s stock in a transaction on 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 sale, the director now owns 60,881 shares of the company’s stock, valued at $5,495,727.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Robert A. Schriesheim sold 25,433 shares of the company’s stock in a transaction on 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 sale, the director now owns 60,881 shares of the company’s stock, valued at $5,495,727.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Philip Matthew Carter sold 452 shares of the company’s stock in a transaction 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 sale, the vice president now directly owns 9,112 shares in the company, valued at approximately $1,093,440. The disclosure for this sale can be found here. Insiders have sold a total of 26,337 shares of company stock valued at $2,399,797 over the last quarter. 0.34% of the stock is owned by company insiders.

Hedge Funds Weigh In On Skyworks Solutions

A number of institutional investors and hedge funds have recently modified their holdings of SWKS. BNP Paribas acquired a new position in shares of Skyworks Solutions during the first quarter worth $27,000. Innealta Capital LLC acquired a new position in shares of Skyworks Solutions during the second quarter worth $27,000. Rothschild Investment LLC acquired a new position in shares of Skyworks Solutions during the second quarter worth $27,000. Access Investment Management LLC acquired a new position in shares of Skyworks Solutions during the first quarter worth $31,000. Finally, Blue Trust Inc. grew its stake in shares of Skyworks Solutions by 79.7% during the second quarter. Blue Trust Inc. now owns 336 shares of the semiconductor manufacturer’s stock worth $36,000 after purchasing an additional 149 shares in the last quarter. Institutional investors and hedge funds own 85.43% of the company’s stock.

About Skyworks Solutions

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.