Skyworks Solutions’ (SWKS) Overweight Rating Reiterated at KeyCorp

KeyCorp reissued their overweight rating on shares of Skyworks Solutions, Inc. (NASDAQ:SWKS) in a research note issued to investors on Wednesday, July 12th. KeyCorp currently has a $120.00 target price on the semiconductor manufacturer’s stock.

A number of other research firms have also recently commented on SWKS. Vetr raised shares of Skyworks Solutions from a hold rating to a buy rating and set a $113.68 price target on the stock in a report on Monday, June 12th. Craig Hallum boosted their target price on shares of Skyworks Solutions from $110.00 to $120.00 and gave the company a buy rating in a report on Friday, April 28th. Pacific Crest raised shares of Skyworks Solutions from a sector weight rating to an overweight rating and set a $120.00 target price on the stock in a report on Tuesday, April 4th. BidaskClub cut shares of Skyworks Solutions from a strong-buy rating to a buy rating in a report on Thursday, June 29th. Finally, Argus started coverage on shares of Skyworks Solutions in a report on Thursday, July 6th. They set a buy rating and a $120.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the company’s stock. The stock has an average rating of Buy and an average price target of $110.57.

Shares of Skyworks Solutions (NASDAQ:SWKS) traded up 1.56% during mid-day trading on Wednesday, hitting $103.18. The stock had a trading volume of 1,051,178 shares. Skyworks Solutions has a 52 week low of $65.76 and a 52 week high of $112.11. The stock has a 50 day moving average of $102.58 and a 200-day moving average of $100.13. The stock has a market capitalization of $18.96 billion, a P/E ratio of 19.80 and a beta of 0.82.

Skyworks Solutions (NASDAQ:SWKS) last posted its quarterly earnings results on Thursday, July 20th. The semiconductor manufacturer reported $1.57 EPS for the quarter, topping analysts’ consensus estimates of $1.52 by $0.05. The company had revenue of $900.80 million for the quarter, compared to analysts’ expectations of $890.58 million. Skyworks Solutions had a net margin of 27.86% and a return on equity of 28.67%. Skyworks Solutions’s revenue was up 19.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.24 EPS. On average, equities research analysts predict that Skyworks Solutions will post $6.39 earnings per share for the current year.

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The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 29th. Stockholders of record on Tuesday, August 8th will be issued a dividend of $0.32 per share. This is a boost from Skyworks Solutions’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Friday, August 4th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.24%. Skyworks Solutions’s dividend payout ratio is presently 24.57%.

In related news, insider Liam Griffin sold 8,056 shares of the firm’s stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $105.31, for a total value of $848,377.36. Following the sale, the insider now owns 54,310 shares in the company, valued at $5,719,386.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Christine King sold 3,500 shares of the firm’s stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $108.84, for a total transaction of $380,940.00. Following the completion of the sale, the director now owns 16,436 shares in the company, valued at approximately $1,788,894.24. The disclosure for this sale can be found here. Company insiders own 0.49% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Bancorpsouth Inc. boosted its position in shares of Skyworks Solutions by 12.4% in the second quarter. Bancorpsouth Inc. now owns 7,045 shares of the semiconductor manufacturer’s stock valued at $676,000 after buying an additional 776 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Skyworks Solutions by 2.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,007,500 shares of the semiconductor manufacturer’s stock valued at $96,673,000 after buying an additional 19,411 shares in the last quarter. Virtu KCG Holdings LLC boosted its position in shares of Skyworks Solutions by 227.1% in the second quarter. Virtu KCG Holdings LLC now owns 9,237 shares of the semiconductor manufacturer’s stock valued at $886,000 after buying an additional 6,413 shares in the last quarter. Hancock Holding Co. acquired a new position in shares of Skyworks Solutions during the second quarter valued at $231,000. Finally, Parametric Portfolio Associates LLC boosted its position in shares of Skyworks Solutions by 129.6% in the second quarter. Parametric Portfolio Associates LLC now owns 543,016 shares of the semiconductor manufacturer’s stock valued at $52,102,000 after buying an additional 306,561 shares in the last quarter. Institutional investors and hedge funds own 81.19% of the company’s stock.

Skyworks Solutions Company Profile

Skyworks Solutions Inc designs, develops, manufactures and markets semiconductor products, including intellectual property. The Company’s analog semiconductors are connecting people, places, and things, spanning a number of new and unimagined applications within the automotive, broadband, cellular infrastructure, connected home, industrial, medical, military, smartphone, tablet and wearable markets.

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