Skyworks Solutions, Inc. (NASDAQ:SWKS) Receives Consensus Rating of “Reduce” from Brokerages

Skyworks Solutions, Inc. (NASDAQ:SWKS) has been assigned a consensus recommendation of “Reduce” from the twenty brokerages that are presently covering the firm, Marketbeat reports. Four investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and one has assigned a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $79.06.

SWKS has been the topic of several recent analyst reports. JPMorgan Chase & Co. reduced their target price on Skyworks Solutions from $70.00 to $66.00 and set a “neutral” rating on the stock in a report on Thursday, May 8th. The Goldman Sachs Group initiated coverage on shares of Skyworks Solutions in a research note on Thursday, July 10th. They issued a “sell” rating and a $70.00 target price for the company. Mizuho increased their price objective on shares of Skyworks Solutions from $72.00 to $75.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 1st. UBS Group cut their price target on shares of Skyworks Solutions from $70.00 to $65.00 and set a “neutral” rating for the company in a research note on Tuesday, April 29th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Skyworks Solutions in a research note on Thursday, May 8th.

Institutional Investors Weigh In On Skyworks Solutions

A number of large investors have recently modified their holdings of SWKS. Principal Financial Group Inc. increased its stake in shares of Skyworks Solutions by 9.1% in the first quarter. Principal Financial Group Inc. now owns 203,496 shares of the semiconductor manufacturer’s stock worth $13,152,000 after purchasing an additional 16,965 shares in the last quarter. Perigon Wealth Management LLC increased its position in shares of Skyworks Solutions by 30.6% during the first quarter. Perigon Wealth Management LLC now owns 3,953 shares of the semiconductor manufacturer’s stock worth $255,000 after acquiring an additional 927 shares during the period. Teacher Retirement System of Texas purchased a new position in Skyworks Solutions during the 1st quarter valued at about $1,511,000. Envestnet Asset Management Inc. grew its position in shares of Skyworks Solutions by 91.5% in the 1st quarter. Envestnet Asset Management Inc. now owns 474,852 shares of the semiconductor manufacturer’s stock worth $30,690,000 after buying an additional 226,938 shares during the last quarter. Finally, Amalgamated Bank grew its position in Skyworks Solutions by 1.5% during the 1st quarter. Amalgamated Bank now owns 31,496 shares of the semiconductor manufacturer’s stock worth $2,036,000 after purchasing an additional 458 shares during the last quarter. Institutional investors own 85.43% of the company’s stock.

Skyworks Solutions Stock Up 0.8%

SWKS opened at $72.76 on Friday. Skyworks Solutions has a 12 month low of $47.93 and a 12 month high of $120.07. The stock has a market cap of $10.92 billion, a P/E ratio of 28.53, a P/E/G ratio of 1.82 and a beta of 1.17. The stock’s 50 day moving average price is $72.97 and its 200 day moving average price is $71.69. The company has a debt-to-equity ratio of 0.17, a current ratio of 4.95 and a quick ratio of 3.84.

Skyworks Solutions (NASDAQ:SWKS) last released its quarterly earnings data on Wednesday, May 7th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.04. Skyworks Solutions had a return on equity of 11.53% and a net margin of 10.43%. The business had revenue of $953.20 million during the quarter, compared to analyst estimates of $951.50 million. During the same period last year, the company posted $1.55 EPS. The company’s revenue was down 8.9% compared to the same quarter last year. As a group, research analysts predict that Skyworks Solutions will post 3.7 earnings per share for the current year.

Skyworks Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 17th. Investors of record on Tuesday, May 27th were given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 3.85%. The ex-dividend date was Tuesday, May 27th. Skyworks Solutions’s payout ratio is presently 109.80%.

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.