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

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

A number of other equities research analysts have also recently weighed in on the stock. Stifel Nicolaus cut their price objective on shares of Skyworks Solutions from $122.00 to $112.00 and set a buy rating on the stock in a report on Wednesday, May 1st. Craig Hallum upped their price objective on shares of Skyworks Solutions from $125.00 to $140.00 and gave the stock a buy rating in a report on Wednesday. Benchmark cut shares of Skyworks Solutions from a buy rating to a hold rating in a report on Wednesday, May 1st. Susquehanna upped their target price on shares of Skyworks Solutions from $90.00 to $125.00 and gave the stock a neutral rating in a research note on Wednesday, July 17th. Finally, Barclays upped their target price on shares of Skyworks Solutions from $85.00 to $115.00 and gave the stock an equal weight rating in a research note on Tuesday, July 30th. Two analysts have rated the stock with a sell rating, sixteen have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Skyworks Solutions currently has a consensus rating of Hold and a consensus target price of $113.94.

Skyworks Solutions Price Performance

Shares of NASDAQ SWKS opened at $104.70 on Wednesday. Skyworks Solutions has a 1 year low of $85.06 and a 1 year high of $120.86. The company has a debt-to-equity ratio of 0.16, a current ratio of 5.75 and a quick ratio of 3.81. The company’s 50-day moving average is $105.55 and its 200 day moving average is $103.31. The stock has a market capitalization of $16.72 billion, a P/E ratio of 19.68, a P/E/G ratio of 4.98 and a beta of 1.23.

Skyworks Solutions (NASDAQ:SWKS) last announced its quarterly earnings data on Tuesday, July 30th. The semiconductor manufacturer reported $1.21 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.21. The business had revenue of $905.50 million for the quarter, compared to analysts’ expectations of $900.41 million. Skyworks Solutions had a net margin of 17.85% and a return on equity of 15.41%. The business’s revenue was down 15.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.50 earnings per share. On average, sell-side analysts expect that Skyworks Solutions will post 5.21 earnings per share for the current year.

Skyworks Solutions Increases Dividend

The firm also recently declared 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. 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 annualized dividend and a yield of 2.67%. Skyworks Solutions’s dividend payout ratio (DPR) is presently 51.13%.

Insiders Place Their Bets

In other news, VP Philip Matthew Carter sold 452 shares of the stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $120.00, for a total value of $54,240.00. Following the completion of the sale, 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 SEC, which is accessible through the SEC website. In related news, VP Philip Matthew Carter sold 452 shares of the firm’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $120.00, for a total transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert A. Schriesheim sold 25,433 shares of the firm’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $90.27, for a total transaction of $2,295,836.91. Following 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 have sold 26,337 shares of company stock worth $2,399,797. Company insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On Skyworks Solutions

Several institutional investors have recently made changes to their positions in the company. PFG Advisors lifted its holdings in Skyworks Solutions by 18.3% during the 4th quarter. PFG Advisors now owns 2,644 shares of the semiconductor manufacturer’s stock valued at $297,000 after buying an additional 409 shares in the last quarter. Fifth Third Bancorp grew its position in shares of Skyworks Solutions by 9.6% in the 4th quarter. Fifth Third Bancorp now owns 20,139 shares of the semiconductor manufacturer’s stock worth $2,264,000 after buying an additional 1,763 shares during the last quarter. AdvisorNet Financial Inc grew its position in Skyworks Solutions by 790.0% during the 4th quarter. AdvisorNet Financial Inc now owns 356 shares of the semiconductor manufacturer’s stock worth $40,000 after purchasing an additional 316 shares during the last quarter. Miracle Mile Advisors LLC purchased a new stake in Skyworks Solutions during the 4th quarter worth approximately $206,000. Finally, Oak Thistle LLC purchased a new stake in Skyworks Solutions during the 4th quarter worth approximately $668,000. Institutional investors own 85.43% of the company’s stock.

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.