Piper Jaffray Companies Begins Coverage on Skyworks Solutions (SWKS)

Piper Jaffray Companies assumed coverage on shares of Skyworks Solutions (NASDAQ:SWKS) in a report released on Wednesday, MarketBeat.com reports. The firm issued an overweight rating and a $115.00 price target on the semiconductor manufacturer’s stock.

Several other research firms have also recently commented on SWKS. Zacks Investment Research upgraded Skyworks Solutions from a sell rating to a hold rating in a research note on Friday, November 10th. Instinet started coverage on Skyworks Solutions in a research note on Wednesday, September 6th. They issued a buy rating and a $115.00 price target on the stock. Morgan Stanley boosted their price target on Skyworks Solutions from $86.00 to $88.00 and gave the stock an underweight rating in a research note on Wednesday, December 13th. Drexel Hamilton restated a buy rating and set a $128.00 price objective (up previously from $120.00) on shares of Skyworks Solutions in a research note on Tuesday, November 7th. Finally, B. Riley restated a buy rating and set a $131.00 price objective on shares of Skyworks Solutions in a research note on Tuesday, November 7th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-two have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $116.51.

Shares of Skyworks Solutions (SWKS) traded down $0.42 on Wednesday, hitting $97.07. The company’s stock had a trading volume of 1,511,207 shares, compared to its average volume of 2,702,497. Skyworks Solutions has a 12 month low of $73.94 and a 12 month high of $117.65. The firm has a market capitalization of $17,912.82, a PE ratio of 17.94, a PEG ratio of 0.97 and a beta of 0.84.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 12th. Investors of record on Tuesday, November 21st were issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date of this dividend was Monday, November 20th. Skyworks Solutions’s dividend payout ratio (DPR) is 23.66%.

In other Skyworks Solutions news, SVP Carlos S. Bori sold 3,083 shares of the stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $98.00, for a total transaction of $302,134.00. Following the completion of the transaction, the senior vice president now directly owns 12,455 shares of the company’s stock, valued at approximately $1,220,590. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Liam Griffin sold 12,141 shares of the stock in a transaction on Friday, November 10th. The shares were sold at an average price of $110.95, for a total value of $1,347,043.95. Following the transaction, the chief executive officer now directly owns 49,514 shares of the company’s stock, valued at $5,493,578.30. The disclosure for this sale can be found here. Insiders sold a total of 175,722 shares of company stock valued at $18,662,549 over the last three months. Corporate insiders own 0.49% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Financial Engines Advisors L.L.C. acquired a new stake in shares of Skyworks Solutions during the 3rd quarter valued at $126,000. WFG Advisors LP lifted its holdings in shares of Skyworks Solutions by 14.8% in the second quarter. WFG Advisors LP now owns 1,326 shares of the semiconductor manufacturer’s stock valued at $127,000 after purchasing an additional 171 shares in the last quarter. Sun Life Financial INC lifted its holdings in shares of Skyworks Solutions by 551.5% in the second quarter. Sun Life Financial INC now owns 1,342 shares of the semiconductor manufacturer’s stock valued at $129,000 after purchasing an additional 1,136 shares in the last quarter. Intact Investment Management Inc. purchased a new stake in shares of Skyworks Solutions in the third quarter valued at $204,000. Finally, Round Table Services LLC purchased a new stake in shares of Skyworks Solutions in the third quarter valued at $204,000. 81.50% of the stock is owned by hedge funds and other institutional investors.

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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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