Skyworks Solutions (SWKS) Cut to Sell at ValuEngine

ValuEngine cut shares of Skyworks Solutions (NASDAQ:SWKS) from a hold rating to a sell rating in a research report released on Wednesday, May 2nd.

Several other research firms have also weighed in on SWKS. Standpoint Research raised shares of Skyworks Solutions from a hold rating to a buy rating in a research note on Tuesday, February 27th. Vetr lowered shares of Skyworks Solutions from a sell rating to a strong sell rating and set a $91.21 price objective on the stock. in a research note on Wednesday, February 7th. BidaskClub upgraded shares of Skyworks Solutions from a sell rating to a hold rating in a report on Tuesday, February 13th. Canaccord Genuity raised their target price on shares of Skyworks Solutions from $115.00 to $120.00 and gave the stock a buy rating in a report on Tuesday, February 6th. Finally, B. Riley dropped their target price on shares of Skyworks Solutions from $131.00 to $128.00 and set a buy rating on the stock in a report on Tuesday, February 6th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and twenty-three have assigned a buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $115.16.

Skyworks Solutions stock traded up $0.95 during midday trading on Wednesday, hitting $98.84. 1,430,964 shares of the stock were exchanged, compared to its average volume of 2,415,307. Skyworks Solutions has a 52 week low of $97.95 and a 52 week high of $98.84. The firm has a market capitalization of $18.03 billion, a price-to-earnings ratio of 16.53, a PEG ratio of 1.22 and a beta of 0.66.

Skyworks Solutions (NASDAQ:SWKS) last released its quarterly earnings data on Thursday, May 3rd. The semiconductor manufacturer reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.04. Skyworks Solutions had a net margin of 22.69% and a return on equity of 30.35%. The business had revenue of $913.40 million for the quarter, compared to analyst estimates of $911.02 million. During the same quarter last year, the firm earned $1.45 EPS. Skyworks Solutions’s quarterly revenue was up 7.2% compared to the same quarter last year. research analysts anticipate that Skyworks Solutions will post 6.41 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 12th. Stockholders of record on Tuesday, May 22nd will be issued a $0.32 dividend. The ex-dividend date is Monday, May 21st. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.30%. Skyworks Solutions’s dividend payout ratio (DPR) is presently 21.40%.

Skyworks Solutions announced that its board has initiated a share buyback plan on Monday, February 5th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the semiconductor manufacturer to purchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

In related news, insider Peter L. Gammel sold 12,500 shares of the business’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $103.96, for a total transaction of $1,299,500.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Christine King sold 2,401 shares of the business’s stock in a transaction on Friday, May 11th. The stock was sold at an average price of $97.67, for a total transaction of $234,505.67. Following the transaction, the director now owns 14,928 shares in the company, valued at $1,458,017.76. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 99,651 shares of company stock worth $10,758,273. 0.47% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of SWKS. QUANTRES ASSET MANAGEMENT Ltd acquired a new position in Skyworks Solutions during the fourth quarter worth $940,000. Polianta Ltd increased its holdings in Skyworks Solutions by 8.8% during the fourth quarter. Polianta Ltd now owns 12,300 shares of the semiconductor manufacturer’s stock worth $1,167,000 after buying an additional 1,000 shares during the last quarter. Chesley Taft & Associates LLC boosted its position in Skyworks Solutions by 4.3% during the fourth quarter. Chesley Taft & Associates LLC now owns 15,990 shares of the semiconductor manufacturer’s stock worth $1,518,000 after purchasing an additional 660 shares during the period. Union Bankshares Corp bought a new position in Skyworks Solutions during the fourth quarter worth $1,912,000. Finally, Crow Point Partners LLC bought a new position in Skyworks Solutions during the fourth quarter worth $379,000. Institutional investors and hedge funds own 82.09% of the company’s stock.

About Skyworks Solutions

Skyworks Solutions, Inc, together with its subsidiaries, designs, develops, manufactures, and markets proprietary semiconductor products, including intellectual property worldwide. Its product portfolio includes amplifiers, 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 shifters, phase locked loops, power dividers/combiners, receivers, switches, synthesizers, technical ceramics, voltage controlled oscillators/synthesizers, and voltage regulators.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Skyworks Solutions (NASDAQ:SWKS)

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