Skyworks Solutions (SWKS) Downgraded by Summit Redstone

Summit Redstone cut shares of Skyworks Solutions (NASDAQ:SWKS) to a hold rating in a research report released on Friday morning.

Other research analysts also recently issued reports about the company. Canaccord Genuity reiterated a buy rating and issued a $115.00 price target on shares of Skyworks Solutions in a report on Friday, July 20th. BMO Capital Markets reiterated a buy rating and issued a $115.00 price target on shares of Skyworks Solutions in a report on Friday, July 20th. DA Davidson cut their price target on Skyworks Solutions to $125.00 and set a buy rating for the company in a report on Friday, July 20th. B. Riley boosted their price target on Skyworks Solutions from $116.00 to $125.00 and gave the company a buy rating in a report on Friday, July 20th. Finally, Craig Hallum reiterated a buy rating and issued a $120.00 price target (up from $115.00) on shares of Skyworks Solutions in a report on Friday, July 20th. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating and sixteen have issued a buy rating to the stock. The stock has a consensus rating of Hold and an average target price of $107.79.

Shares of Skyworks Solutions stock traded down $6.74 during trading on Friday, hitting $76.66. 8,436,241 shares of the company were exchanged, compared to its average volume of 1,960,861. Skyworks Solutions has a fifty-two week low of $75.15 and a fifty-two week high of $115.98. The company has a market capitalization of $14.79 billion, a P/E ratio of 12.50, a P/E/G ratio of 0.82 and a beta of 0.64.

Skyworks Solutions (NASDAQ:SWKS) last issued its quarterly earnings data on Thursday, November 8th. The semiconductor manufacturer reported $1.94 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.92 by $0.02. The firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1 billion. Skyworks Solutions had a return on equity of 30.31% and a net margin of 23.78%. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.82 EPS. As a group, equities research analysts expect that Skyworks Solutions will post 7.34 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 18th. Stockholders of record on Tuesday, November 27th will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Monday, November 26th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.98%. Skyworks Solutions’s payout ratio is 22.93%.

In other news, Director David J. Aldrich sold 3,000 shares of the company’s stock in a transaction on Friday, November 2nd. The stock was sold at an average price of $86.25, for a total transaction of $258,750.00. Following the completion of the sale, the director now directly owns 144,251 shares in the company, valued at approximately $12,441,648.75. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director David J. Aldrich sold 10,000 shares of the company’s stock in a transaction on Friday, August 24th. The stock was sold at an average price of $92.89, for a total value of $928,900.00. Following the sale, the director now owns 152,252 shares of the company’s stock, valued at $14,142,688.28. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,500 shares of company stock valued at $3,126,050. Insiders own 0.47% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Vulcan Value Partners LLC increased its holdings in shares of Skyworks Solutions by 21.8% during the 2nd quarter. Vulcan Value Partners LLC now owns 6,581,779 shares of the semiconductor manufacturer’s stock worth $636,129,000 after buying an additional 1,179,670 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Skyworks Solutions by 6.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,072,364 shares of the semiconductor manufacturer’s stock worth $296,944,000 after buying an additional 185,039 shares during the last quarter. LSV Asset Management increased its holdings in shares of Skyworks Solutions by 3,665.0% during the 3rd quarter. LSV Asset Management now owns 1,852,400 shares of the semiconductor manufacturer’s stock worth $168,031,000 after buying an additional 1,803,200 shares during the last quarter. Manning & Napier Group LLC boosted its position in Skyworks Solutions by 2.0% during the 2nd quarter. Manning & Napier Group LLC now owns 1,451,579 shares of the semiconductor manufacturer’s stock worth $140,293,000 after purchasing an additional 28,220 shares during the period. Finally, FMR LLC boosted its position in Skyworks Solutions by 22.6% during the 3rd quarter. FMR LLC now owns 1,434,635 shares of the semiconductor manufacturer’s stock worth $130,136,000 after purchasing an additional 264,346 shares during the period. Institutional investors and hedge funds own 80.71% 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.

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