Skyworks Solutions, Inc. (NASDAQ:SWKS – Get Rating) – Research analysts at Oppenheimer reduced their Q3 2022 earnings estimates for shares of Skyworks Solutions in a research note issued to investors on Wednesday, May 4th. Oppenheimer analyst R. Schafer now expects that the semiconductor manufacturer will post earnings per share of $2.05 for the quarter, down from their prior forecast of $2.24. Oppenheimer also issued estimates for Skyworks Solutions’ FY2022 earnings at $9.94 EPS, Q1 2023 earnings at $3.08 EPS, Q2 2023 earnings at $2.72 EPS, Q4 2023 earnings at $2.96 EPS and FY2023 earnings at $11.38 EPS.
SWKS has been the subject of a number of other reports. Benchmark lowered their price objective on Skyworks Solutions from $190.00 to $155.00 in a research report on Wednesday, May 4th. UBS Group lowered their price target on Skyworks Solutions from $145.00 to $133.00 in a report on Wednesday, May 4th. Bank of America lowered their price target on Skyworks Solutions from $180.00 to $165.00 and set a “neutral” rating for the company in a report on Friday, February 4th. Citigroup lowered their price target on Skyworks Solutions from $156.00 to $152.00 and set a “neutral” rating for the company in a report on Tuesday, March 22nd. Finally, B. Riley lowered their price target on Skyworks Solutions from $138.00 to $125.00 in a report on Wednesday, May 4th. Fourteen research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $171.78.
Skyworks Solutions (NASDAQ:SWKS – Get Rating) last announced its quarterly earnings data on Tuesday, May 3rd. The semiconductor manufacturer reported $2.63 EPS for the quarter, hitting analysts’ consensus estimates of $2.63. Skyworks Solutions had a return on equity of 30.60% and a net margin of 25.98%. The business had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same period in the previous year, the company posted $2.03 earnings per share. The business’s revenue for the quarter was up 14.0% on a year-over-year basis.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 14th. Stockholders of record on Tuesday, May 24th will be paid a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 2.12%. The ex-dividend date is Monday, May 23rd. Skyworks Solutions’s dividend payout ratio (DPR) is presently 27.22%.
In other Skyworks Solutions news, CEO Liam Griffin sold 10,000 shares of the stock in a transaction on Tuesday, March 29th. The stock was sold at an average price of $140.00, for a total value of $1,400,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.31% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in the business. Jacobi Capital Management LLC raised its position in Skyworks Solutions by 39.7% in the first quarter. Jacobi Capital Management LLC now owns 5,054 shares of the semiconductor manufacturer’s stock worth $673,000 after acquiring an additional 1,435 shares in the last quarter. Koss Olinger Consulting LLC acquired a new stake in Skyworks Solutions in the first quarter valued at $917,000. Balentine LLC purchased a new position in shares of Skyworks Solutions in the first quarter valued at $275,000. Smith Graham & Co. Investment Advisors LP raised its stake in shares of Skyworks Solutions by 3.5% during the 1st quarter. Smith Graham & Co. Investment Advisors LP now owns 41,008 shares of the semiconductor manufacturer’s stock worth $5,466,000 after buying an additional 1,387 shares during the last quarter. Finally, First Interstate Bank boosted its position in shares of Skyworks Solutions by 32.8% in the 1st quarter. First Interstate Bank now owns 33,872 shares of the semiconductor manufacturer’s stock worth $4,515,000 after buying an additional 8,362 shares in the last quarter. Hedge funds and other institutional investors own 72.09% of the company’s stock.
Skyworks Solutions Company Profile (Get Rating)
Skyworks Solutions, Inc, together with its subsidiaries, designs, develops, manufactures, and markets proprietary semiconductor products, including intellectual property in the United States, China, South Korea, Taiwan, Europe, the Middle East, Africa, and rest of Asia-Pacific. Its product portfolio includes amplifiers, antenna tuners, attenuators, automotive tuners and digital radios, circulators/isolators, 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, receivers, switches, synthesizers, timing devices, technical ceramics, voltage controlled oscillators/synthesizers, and voltage regulators.
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